Cricut, Inc. Reports Second Quarter 2025 Financial Results
Cricut (NASDAQ: CRCT) reported strong Q2 2025 financial results, with revenue reaching $172.1 million, up 2% year-over-year. The company achieved significant growth in key metrics, including a 24% increase in net income to $24.5 million and a 14% rise in operating income to $30.1 million.
Notable highlights include reaching over 3 million Paid Subscribers, representing a 7% growth from Q2 2024, and improved gross margins of 59.0%, up from 53.5%. The company maintains a strong financial position with $377 million in cash and no debt, while distributing $181 million in dividends after the quarter closed.
International revenue grew by 8%, accounting for 21% of total revenue, while Platform ARPU increased to $53.84, up 2% year-over-year.
Cricut (NASDAQ: CRCT) ha riportato solidi risultati finanziari nel secondo trimestre 2025, con ricavi che hanno raggiunto i 172,1 milioni di dollari, in aumento del 2% rispetto all'anno precedente. L'azienda ha registrato una crescita significativa in metriche chiave, inclusa una crescita del 24% dell'utile netto a 24,5 milioni di dollari e un aumento del 14% dell'utile operativo a 30,1 milioni di dollari.
Tra i punti salienti si segnala il superamento di 3 milioni di abbonati a pagamento, con una crescita del 7% rispetto al secondo trimestre 2024, e un miglioramento dei margini lordi al 59,0%, in aumento rispetto al 53,5%. L'azienda mantiene una solida posizione finanziaria con 377 milioni di dollari in contanti e nessun debito, distribuendo inoltre 181 milioni di dollari in dividendi dopo la chiusura del trimestre.
I ricavi internazionali sono cresciuti dell'8%, rappresentando il 21% del totale, mentre l'ARPU della piattaforma 猫 salito a 53,84 dollari, in aumento del 2% anno su anno.
Cricut (NASDAQ: CRCT) report贸 s贸lidos resultados financieros en el segundo trimestre de 2025, con ingresos que alcanzaron los 172,1 millones de d贸lares, un aumento del 2% interanual. La compa帽铆a logr贸 un crecimiento significativo en m茅tricas clave, incluyendo un aumento del 24% en el ingreso neto a 24,5 millones de d贸lares y un incremento del 14% en el ingreso operativo a 30,1 millones de d贸lares.
Entre los aspectos destacados se encuentra el haber superado los 3 millones de suscriptores de pago, lo que representa un crecimiento del 7% respecto al segundo trimestre de 2024, y una mejora en los m谩rgenes brutos al 59,0%, desde el 53,5%. La empresa mantiene una s贸lida posici贸n financiera con 377 millones de d贸lares en efectivo y sin deuda, adem谩s de distribuir 181 millones de d贸lares en dividendos tras el cierre del trimestre.
Los ingresos internacionales crecieron un 8%, representando el 21% del total, mientras que el ARPU de la plataforma aument贸 a 53,84 d贸lares, un 2% m谩s interanual.
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Cricut (NASDAQ : CRCT) a publi茅 de solides r茅sultats financiers pour le deuxi猫me trimestre 2025, avec un chiffre d'affaires atteignant 172,1 millions de dollars, en hausse de 2 % par rapport 脿 l'ann茅e pr茅c茅dente. La soci茅t茅 a enregistr茅 une croissance significative sur des indicateurs cl茅s, notamment une augmentation de 24 % du b茅n茅fice net 脿 24,5 millions de dollars et une hausse de 14 % du r茅sultat op茅rationnel 脿 30,1 millions de dollars.
Parmi les points forts, on note le d茅passement des 3 millions d'abonn茅s payants, soit une croissance de 7 % par rapport au deuxi猫me trimestre 2024, ainsi qu'une am茅lioration des marges brutes 脿 59,0%, contre 53,5 % auparavant. L'entreprise maintient une solide position financi猫re avec 377 millions de dollars en liquidit茅s et aucune dette, tout en distribuant 181 millions de dollars de dividendes apr猫s la cl么ture du trimestre.
Les revenus internationaux ont augment茅 de 8%, repr茅sentant 21 % du chiffre d'affaires total, tandis que l'ARPU de la plateforme a progress茅 脿 53,84 dollars, en hausse de 2 % sur un an.
Cricut (NASDAQ: CRCT) meldete starke Finanzergebnisse f眉r das zweite Quartal 2025, mit einem Umsatz von 172,1 Millionen US-Dollar, was einem Anstieg von 2 % im Jahresvergleich entspricht. Das Unternehmen erzielte bedeutendes Wachstum bei wichtigen Kennzahlen, darunter ein 24%iger Anstieg des Nettogewinns auf 24,5 Millionen US-Dollar und ein 14%iger Anstieg des Betriebsergebnisses auf 30,1 Millionen US-Dollar.
Bemerkenswerte Highlights sind das Erreichen von 眉ber 3 Millionen zahlenden Abonnenten, was einem Wachstum von 7 % gegen眉ber dem zweiten Quartal 2024 entspricht, sowie verbesserte Bruttomargen von 59,0% gegen眉ber zuvor 53,5%. Das Unternehmen verf眉gt 眉ber eine starke Finanzlage mit 377 Millionen US-Dollar in bar und keiner Verschuldung, w盲hrend nach Quartalsende 181 Millionen US-Dollar an Dividenden ausgesch眉ttet wurden.
Der internationale Umsatz wuchs um 8% und machte 21 % des Gesamtumsatzes aus, w盲hrend der Plattform-ARPU auf 53,84 US-Dollar anstieg, ein Plus von 2 % im Jahresvergleich.
- Net income increased 24% to $24.5 million (14.2% of revenue)
- Operating income grew 14% to $30.1 million (17.5% of revenue)
- Gross margin improved significantly to 59.0% from 53.5%
- Strong cash position with $377 million and zero debt
- International revenue grew 8%, reaching 21% of total revenue
- Paid Subscribers increased 7% to over 3 million
- Generated $36.2 million in Cash from Operations
- Modest overall revenue growth of only 2% year-over-year
- Active Users remained flat at 5.9 million
- 90-Day Engaged Users declined by 2% to 3.5 million
- Facing uncertainty due to tariffs impact
Insights
Cricut delivered solid Q2 results with growth across all key metrics, highlighted by 24% net income growth despite modest 2% revenue increase.
Cricut's Q2 performance demonstrates strong financial discipline with revenue reaching $172.1 million (up 2%) while significantly expanding profitability metrics across the board. The standout achievement is the 24% increase in net income to $24.5 million, substantially outpacing revenue growth. This improved bottom-line performance stems from impressive gross margin expansion to 59.0% from 53.5% year-over-year 鈥� a remarkable 550 basis point improvement that directly enhances profitability.
The company's dual-revenue model shows platform revenue growing faster at 4% versus products at 1%, signaling strengthening of their higher-margin subscription business. With paid subscribers now exceeding 3 million (up 7%) and platform ARPU increasing to $53.84 (up 2%), Cricut is successfully monetizing its user base despite nearly flat active user growth. This subscription focus creates more predictable, recurring revenue streams.
From a cash perspective, Cricut maintains exceptional financial health with $36.2 million in quarterly operating cash flow and a debt-free balance sheet showing $377 million in cash reserves. This robust position enabled substantial shareholder returns through a special dividend of $0.75 per share plus a recurring $0.10 semi-annual dividend, totaling $181 million in payments after quarter-end.
The company's candid acknowledgment of tariff uncertainties while simultaneously accelerating investments in product development suggests confidence in their long-term trajectory despite potential headwinds. International revenue growth of 8% (now 21% of total revenue) represents an encouraging diversification trend that may help mitigate domestic market challenges.
Over 3 million Paid Subscribers, up
Q2 2025 revenue of
Net income of
SOUTH JORDAN, Utah, Aug. 05, 2025 (GLOBE NEWSWIRE) -- Cricut, Inc. (鈥淐ricut鈥�) (NASDAQ: CRCT), the creative technology company that has brought a connected platform for making to millions of users worldwide, today announced financial results for its second quarter ended June听30, 2025.
鈥淲e posted solid results in Q2 with sales growth of
Second Quarter 2025 Financial Results
- Revenue was
$172.1 million , up2% from Q2 2024. - Platform revenue was
$80.7 million , up4% over Q2 2024. - Products revenue was
$91.4 million , up1% from Q2 2024. - International revenue increased by
8% over Q2 2024 and was21% of total revenue, up from20% of total revenue in Q2 2024. - Gross margin was
59.0% , up from53.5% in Q2 2024. - Operating income was
$30.1 million , or17.5% of revenue, and up14% from Q2 2024. Operating income in Q2 2024 was$26.4 million , or15.7% of revenue. - Net income was
$24.5 million , or14.2% of revenue, and up24% from Q2 2024. Net income in Q2 2024 was$19.8 million , or11.8% of revenue. - Diluted earnings per share was
$0.11 , up from$0.09 per share in Q2 2024. - Generated
$36.2听尘颈濒濒颈辞苍 in Cash from Operations in Q2. - Used
$4.7 million to repurchase 917 thousand shares of our common stock in Q2.
鈥淲e continue to generate healthy cash flow on an annual basis, which funds inventory needs and investments for long-term growth. In Q2, we generated
Recent Business Highlights
- Paid Subscribers increased to over 3 million, up
7% year-over-year. - Platform ARPU increased to
$53.84 , up2% year-over-year. - Active Users about flat year-over-year to just over 5.9 million.
- 90-Day Engaged Users down less than
2% year-over-year to nearly 3.5 million compared to down3% versus a year ago. - After Q2 closed, Cricut completed the following Board of Director approved dividends for total cash payments of
$181 million : 听听- Special dividend of
$0.75 per share paid on July 21, 2025 to shareholders of record on July 7, 2025** - Recurring semi-annual dividend of
$0.10 per share paid on July 21, 2025 to shareholders of record on July 7, 2025**
- Special dividend of
** Both dividends were to the Company鈥檚 Class A and Class B Common Stockholders. In addition, holders of restricted stock units that were unvested on the record date were credited with a dividend equivalent based on the value of the per share dividend pursuant to the terms of the Company鈥檚 equity incentive documents. The dividend equivalent entitles such holders to receive additional shares upon vesting of the corresponding restricted stock units. The board of directors views this level of capital allocation, both stock repurchases and dividends, as appropriate given the company鈥檚 operating and financial plans and will continue to evaluate capital allocation on a regular basis.
Key Performance Metrics
In addition to the measures presented in our condensed consolidated financial statements, we use the following key business metrics to evaluate our business, identify trends affecting our business, formulate business plans and make strategic decisions. We believe these metrics are useful to investors because they can help in monitoring the long-term health of our business. Our determination and presentation of these metrics may differ from that of other companies. The presentation of these metrics is meant to be considered in addition to, not as a substitute for or in isolation from, our financial measures prepared in accordance with GAAP.
| 听 | As of June 30, | ||||
| 听 | 2025 | 听 | 2024 | ||
| Active Users (in thousands) | 听听听听听听听听5,901 | 听 | 听 | 听听听听听听听听5,918 | 听 |
| 90-Day Engaged Users (in thousands) | 听听听听听听听听3,482 | 听 | 听 | 听听听听听听听听3,541 | 听 |
| Paid Subscribers (in thousands) | 听听听听听听听听3,010 | 听 | 听 | 听听听听听听听听2,813 | 听 |
| 听 | As of June 30, | ||||||
| 听 | 听 | 2025 | 听 | 听 | 听 | 2024 | 听 |
| Platform ARPU | $ | 听听听听听听听听53.84 | 听 | 听 | $ | 听听听听听听听听52.61 | 听 |
Glossary of Terms
Active Users
We define Active Users as registered users of at least one registered connected machine who have utilized their connected machine to create a project in the last 365 days. One user may own multiple registered connected machines but is only counted once if that user registers those connected machines by using the same email address. If possession of a connected machine is transferred to a new owner and registered by that new owner, the new owner is added to the total Active Users and the prior owner is removed from the total Active Users if the prior owner does not own any other registered connected machines. Active Users is a key indicator of the health of our business, because changes in the number of Active Users excludes non-users to better represent opportunities for us to drive additional platform and accessories and materials revenue.
90-Day Engaged Users
We define 90-Day Engaged Users as registered users of at least one registered connected machine who have utilized their connected machine to create a project in the last 90 days. One user may own multiple registered connected machines but is only counted once if that user registers those connected machines by using the same email address. If possession of a connected machine is transferred to a new owner and registered by that new owner, the new owner is added to the total 90-Day Engaged Users and the prior owner is removed from the total 90-Day Engaged Users if the prior owner does not own any other registered connected machines. 90-Day Engaged Users excludes non-users to better represent opportunities for us to drive additional platform and accessories and materials revenue.
Paid Subscribers
We define Paid Subscribers as the number of users with a subscription to Cricut Access or Cricut Access Premium, excluding cancelled, unpaid or free trial subscriptions, as of the end of a period. Paid Subscribers is a key metric to track growth in our Platform revenue and potential leverage in our gross margin.
Platform ARPU
We define Platform ARPU as Platform revenue in a 12-month period divided by Active Users. Platform ARPU allows us to forecast Platform revenue over time and is an indicator of our ability to expand with users and of user engagement with our subscription offerings.
Webcast and Conference Call Information
Cricut management will host a conference call and webcast to discuss the results today, Tuesday, August听5, 2025 at 3:00 p.m. Mountain Time (5:00 p.m. Eastern Time). Information about Cricut鈥檚 financial results, including a link to the live and archived webcast of the conference call, will be made available on Cricut鈥檚 investor relations website at https://investor.cricut.com/.
The live call may also be accessed via telephone. Please pre-register using this link: https://register-conf.media-server.com/register/BIfe8a42b2c64f49c4a57563df6533863f. After registering, a confirmation will be sent via email and will include dial-in details and a unique PIN code for entry to the call. To avoid long wait times, we suggest registering at minimum 15 minutes before the start of the call to receive your unique PIN code.
About Cricut, Inc.
Cricut, Inc. is a creative technology company that helps people lead creative lives. Cricut hardware and design software work together as a connected platform for consumers to make beautiful, high-quality DIY projects quickly and easily. These industry-leading products include a flagship line of smart cutting machines 鈥� the Cricut Maker庐 series, the Cricut Explore庐 series, Cricut Joy庐 series, and Cricut Venture庐 鈥� accompanied by other unique tools like Cricut EasyPress庐, the Infusible Ink庐 system, and a diverse collection of materials. In addition to providing tools and materials, Cricut fosters a thriving community of millions of dedicated users worldwide.
Cricut has used, and intends to continue using, its investor relations website and the Cricut News Blog (https://cricut.com/blog/news/) to disclose material non-public information and to comply with its disclosure obligations under Regulation FD. Accordingly, you should monitor our investor relations website and the Cricut News Blog in addition to following our press releases, SEC filings and public conference calls and webcasts.
Media Contact:
Avani Patel
听
Investor Contact:
Jim Suva
听
Source: Cricut, Inc.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains 鈥渇orward-looking statements鈥� within the meaning of Section 27A of the Securities Act of 1933 as amended (the 鈥淎ct鈥�), and Section 21E of the Securities Exchange Act of 1934, as amended (the 鈥淓xchange Act鈥�). These statements include, but are not limited to, quotations from management, business outlook, strategies, capital allocation plans, the impact of tariffs on our business, market size and growth opportunities. Forward-looking statements generally can be identified by the fact that they do not relate strictly to historical or current facts and by the use of forward-looking words such as 鈥渁nticipates,鈥� 鈥渂elieves,鈥� 鈥渢argets,鈥� 鈥減otential,鈥� 鈥渆stimates,鈥� 鈥渆xpects,鈥� 鈥渋ntends,鈥� 鈥減lans,鈥� 鈥減rojects,鈥� 鈥渕ay,鈥� 鈥渨ill鈥� or similar terminology. In particular, statements, express or implied, concerning future actions, conditions or events, future results of operations or the ability to generate revenues, income or cash flow are forward-looking statements. These statements are based on and reflect our current expectations, estimates, assumptions and/ or projections and our perception of historical trends and current conditions, as well as other factors that we believe are appropriate and reasonable under the circumstances. Forward-looking statements are neither predictions nor guarantees of future events, circumstances or performance and are inherently subject to known and unknown risks, uncertainties and assumptions, many of which are beyond our control, that could cause our actual results to differ materially from those indicated by those statements. There can be no assurance that our expectations, estimates, assumptions and/or projections will prove to be correct or that any of our expectations, estimates or projections will be achieved. The forward-looking statements included in this press release are only made as of the date indicated on the relevant materials and are based on our estimates and opinions at the time the statements are made. We disclaim any obligation to publicly update any forward-looking statement to reflect subsequent events or circumstances or changes in opinion, except as required by law.
Numerous factors could cause our actual results and events to differ materially from those expressed or implied by forward-looking statements including, but not limited to, risks and uncertainties associated with: our ability to attract and engage with our users; competitive risks; supply chain, manufacturing, distribution and fulfillment risks; international risks, including regulation, trade wars, heightened, scheduled, or threatened tariffs or by retaliatory trade measures that have materially increased our costs and the potential for further trade barriers or disruptions; sales and marketing risks, including our dependence on sales to brick-and-mortar and online retail partners and our need to continue to grow online sales; risks relating to the complexity of our business, which includes connected machines, custom tools, hundreds of materials, design apps, e-commerce software, subscriptions, content, international production, direct sales and retail distribution; risks related to product quality, safety and warranty claims and returns; risks related to the fluctuation of our quarterly results of operations and other operating metrics; risks related to intellectual property, cybersecurity and potential data breaches; risks related to our dependence on our Chief Executive Officer; risks related to our status as a 鈥渃ontrolled company鈥�; and the impact of economic and geopolitical events, natural disasters and actual or threatened public health emergencies, current recessionary pressures and any resulting economic slowdown from any of these events, or other resulting interruption to our operations. These risks and uncertainties are described in greater detail, or are incorporated by reference, under the heading 鈥淩isk Factors鈥� in the most recent form 10-K or 10-Q that we have filed with the Securities and Exchange Commission (鈥淪EC鈥�).
In addition, certain risks and uncertainties not presently known to us or that we currently believe to be immaterial could affect the accuracy of any such forward-looking statements. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. The forward-looking statements included in these materials are only made as of the date indicated on the relevant materials and we disclaim any obligation to publicly update any forward-looking statement to reflect subsequent events or circumstances, except as required by law.听 听
| 听 | |||||||||||||||
| Cricut, Inc. Condensed Consolidated Statements of Operations and Comprehensive Income (unaudited) (in thousands, except share and per share amounts) | |||||||||||||||
| 听 | |||||||||||||||
| 听 | Three Months Ended June 30, | 听 | Six Months Ended June 30, | ||||||||||||
| 听 | 听 | 2025 | 听 | 听 | 听 | 2024 | 听 | 听 | 听 | 2025 | 听 | 听 | 听 | 2024 | 听 |
| Revenue: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| Platform | $ | 听听听听听听听听80,697 | 听 | 听 | $ | 听听听听听听听听77,649 | 听 | 听 | $ | 听听听听听听听听160,683 | 听 | 听 | $ | 听听听听听听听听155,935 | 听 |
| Products | 听 | 听听听听听听听听91,415 | 听 | 听 | 听 | 听听听听听听听听90,298 | 听 | 听 | 听 | 听听听听听听听听174,063 | 听 | 听 | 听 | 听听听听听听听听179,404 | 听 |
| Total revenue | 听 | 听听听听听听听听172,112 | 听 | 听 | 听 | 听听听听听听听听167,947 | 听 | 听 | 听 | 听听听听听听听听334,746 | 听 | 听 | 听 | 听听听听听听听听335,339 | 听 |
| Cost of revenue: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| Platform | 听 | 听听听听听听听听8,816 | 听 | 听 | 听 | 听听听听听听听听8,888 | 听 | 听 | 听 | 听听听听听听听听17,484 | 听 | 听 | 听 | 听听听听听听听听17,647 | 听 |
| Products | 听 | 听听听听听听听听61,757 | 听 | 听 | 听 | 听听听听听听听听69,219 | 听 | 听 | 听 | 听听听听听听听听117,375 | 听 | 听 | 听 | 听听听听听听听听136,258 | 听 |
| Total cost of revenue | 听 | 听听听听听听听听70,573 | 听 | 听 | 听 | 听听听听听听听听78,107 | 听 | 听 | 听 | 听听听听听听听听134,859 | 听 | 听 | 听 | 听听听听听听听听153,905 | 听 |
| Gross profit | 听 | 听听听听听听听听101,539 | 听 | 听 | 听 | 听听听听听听听听89,840 | 听 | 听 | 听 | 听听听听听听听听199,887 | 听 | 听 | 听 | 听听听听听听听听181,434 | 听 |
| Operating expenses: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| Research and development | 听 | 听 听 听 听16,762 | 听 | 听 | 听 | 听听听听听听听听14,315 | 听 | 听 | 听 | 听听听听听听听听32,419 | 听 | 听 | 听 | 听听听听听听听听29,168 | 听 |
| Sales and marketing | 听 | 听听听听听听听听35,877 | 听 | 听 | 听 | 听听听听听听听听33,354 | 听 | 听 | 听 | 听听听听听听听听72,562 | 听 | 听 | 听 | 听听听听听听听听66,384 | 听 |
| General and administrative | 听 | 听听听听听听听听18,795 | 听 | 听 | 听 | 听听听听听听听听15,739 | 听 | 听 | 听 | 听听听听听听听听35,460 | 听 | 听 | 听 | 听听听听听听听听34,245 | 听 |
| Total operating expenses | 听 | 听听听听听听听听71,434 | 听 | 听 | 听 | 听听听听听听听听63,408 | 听 | 听 | 听 | 听听听听听听听听140,441 | 听 | 听 | 听 | 听听听听听听听听129,797 | 听 |
| Income from operations | 听 | 听听听听听听听听30,105 | 听 | 听 | 听 | 听听听听听听听听26,432 | 听 | 听 | 听 | 听听听听听听听听59,446 | 听 | 听 | 听 | 听听听听听听听听51,637 | 听 |
| Other income (expense): | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| Interest income | 听 | 听听听听听听听听3,578 | 听 | 听 | 听 | 听听听听听听听听3,053 | 听 | 听 | 听 | 听听听听听听听听6,935 | 听 | 听 | 听 | 听听听听听听听听5,471 | 听 |
| Interest expense | 听 | 听听听听听听听听(81 | ) | 听 | 听 | 听听听听听听听听(80 | ) | 听 | 听 | 听听听听听听听听(160 | ) | 听 | 听 | 听听听听听听听听(161 | ) |
| Other income | 听 | 听听听听听听听听241 | 听 | 听 | 听 | 听听听听听听听听387 | 听 | 听 | 听 | 听听听听听听听听243 | 听 | 听 | 听 | 听听听听听听听听1,135 | 听 |
| Total other income, net | 听 | 听听听听听听听听3,738 | 听 | 听 | 听 | 听听听听听听听听3,360 | 听 | 听 | 听 | 听听听听听听听听7,018 | 听 | 听 | 听 | 听听听听听听听听6,445 | 听 |
| Income before provision for income taxes | 听 | 听听听听听听听听33,843 | 听 | 听 | 听 | 听听听听听听听听29,792 | 听 | 听 | 听 | 听听听听听听听听66,464 | 听 | 听 | 听 | 听听听听听听听听58,082 | 听 |
| Provision for income taxes | 听 | 听听听听听听听听9,355 | 听 | 听 | 听 | 听听听听听听听听10,023 | 听 | 听 | 听 | 听听听听听听听听18,062 | 听 | 听 | 听 | 听听听听听听听听18,666 | 听 |
| Net income | $ | 听听听听听听听听24,488 | 听 | 听 | $ | 听听听听听听听听19,769 | 听 | 听 | $ | 听听听听听听听听48,402 | 听 | 听 | $ | 听听听听听听听听39,416 | 听 |
| Other comprehensive income (loss): | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| Change in net unrealized gains (losses) on marketable securities, net of tax | $ | 听听听听听听听听70 | 听 | 听 | $ | 听听听听听听听听242 | 听 | 听 | $ | 听听听听听听听听185 | 听 | 听 | $ | 听听听听听听听听(46 | ) |
| Change in foreign currency translation adjustment, net of tax | 听 | 听听听听听听听听279 | 听 | 听 | 听 | 听听听听听听听听(1 | ) | 听 | 听 | 听听听听听听听听381 | 听 | 听 | 听 | 听听听听听听听听(89 | ) |
| Comprehensive income | $ | 听听听听听听听听24,837 | 听 | 听 | $ | 听听听听听听听听20,010 | 听 | 听 | $ | 听听听听听听听听48,968 | 听 | 听 | $ | 听听听听听听听听39,281 | 听 |
| Earnings per share, basic | $ | 听听听听听听听听0.12 | 听 | 听 | $ | 听听听听听听听听0.09 | 听 | 听 | $ | 听听听听听听听听0.23 | 听 | 听 | $ | 听听听听听听听听0.18 | 听 |
| Earnings per share, diluted | $ | 听听听听听听听听0.11 | 听 | 听 | $ | 听听听听听听听听0.09 | 听 | 听 | $ | 听听听听听听听听0.23 | 听 | 听 | $ | 听听听听听听听听0.18 | 听 |
| Weighted-average common shares outstanding, basic | 听 | 听听听听听听听听211,865,363 | 听 | 听 | 听 | 听听听听听听听听216,422,513 | 听 | 听 | 听 | 听 听 听 听212,514,662 | 听 | 听 | 听 | 听听听听听听听听215,986,713 | 听 |
| Weighted-average common shares outstanding, diluted | 听 | 听听听听听听听听214,529,726 | 听 | 听 | 听 | 听听听听听听听听217,501,646 | 听 | 听 | 听 | 听听听听听听听听214,649,931 | 听 | 听 | 听 | 听听听听听听听听217,390,891 | 听 |
| 听 | |||||||
| Cricut, Inc. Condensed Consolidated Balance Sheets (in thousands, except share and per share amounts) | |||||||
| 听 | |||||||
| 听 | As of June 30, 2025 | 听 | As of December 31, 2024 | ||||
| 听 | (unaudited) | 听 | 听 | ||||
| Assets | 听 | 听 | 听 | ||||
| Current assets: | 听 | 听 | 听 | ||||
| Cash and cash equivalents | $ | 听听听听听听听听298,057 | 听 | 听 | $ | 听听听听听听听听232,140 | 听 |
| Marketable securities | 听 | 听听听听听听听听78,884 | 听 | 听 | 听 | 听听听听听听听听104,774 | 听 |
| Accounts receivable, net | 听 | 听听听听听听听听81,990 | 听 | 听 | 听 | 听听听听听听听听101,980 | 听 |
| Inventories | 听 | 听听听听听听听听124,796 | 听 | 听 | 听 | 听听听听听听听听115,255 | 听 |
| Prepaid expenses and other current assets | 听 | 听听听听听听听听15,459 | 听 | 听 | 听 | 听听听听听听听听26,065 | 听 |
| Total current assets | 听 | 听听听听听听听听599,186 | 听 | 听 | 听 | 听听听听听听听听580,214 | 听 |
| Property and equipment, net | 听 | 听听听听听听听听37,736 | 听 | 听 | 听 | 听听听听听听听听37,546 | 听 |
| Operating lease right-of-use asset | 听 | 听听听听听听听听12,481 | 听 | 听 | 听 | 听听听听听听听听13,958 | 听 |
| Deferred tax assets | 听 | 听听听听听听听听49,560 | 听 | 听 | 听 | 听听听听听听听听39,186 | 听 |
| Other assets | 听 | 听听听听听听听听22,548 | 听 | 听 | 听 | 听听听听听听听听22,131 | 听 |
| Total assets | $ | 听听听听听听听听721,511 | 听 | 听 | $ | 听听听听听听听听693,035 | 听 |
| Liabilities and Stockholders鈥� Equity | 听 | 听 | 听 | ||||
| Current liabilities: | 听 | 听 | 听 | ||||
| Accounts payable | $ | 听听听听听听听听71,977 | 听 | 听 | $ | 听听听听听听听听53,373 | 听 |
| Accrued expenses and other current liabilities | 听 | 听听听听听听听听61,657 | 听 | 听 | 听 | 听听听听听听听听76,274 | 听 |
| Deferred revenue, current portion | 听 | 听听听听听听听听51,047 | 听 | 听 | 听 | 听听听听听听听听45,427 | 听 |
| Operating lease liabilities, current portion | 听 | 听听听听听听听听3,609 | 听 | 听 | 听 | 听听听听听听听听3,899 | 听 |
| Dividends payable, current portion | 听 | 听听听听听听听听204,814 | 听 | 听 | 听 | 听听听听听听听听24,401 | 听 |
| Total current liabilities | 听 | 听听听听听听听听393,104 | 听 | 听 | 听 | 听听听听听听听听203,374 | 听 |
| Operating lease liabilities, net of current portion | 听 | 听听听听听听听听9,784 | 听 | 听 | 听 | 听听听听听听听听11,310 | 听 |
| Deferred revenue, net of current portion | 听 | 听听听听听听听听2,585 | 听 | 听 | 听 | 听听听听听听听听2,826 | 听 |
| Other non-current liabilities | 听 | 听听听听听听听听7,101 | 听 | 听 | 听 | 听听听听听听听听8,764 | 听 |
| Total liabilities | 听 | 听听听听听听听听412,574 | 听 | 听 | 听 | 听听听听听听听听226,274 | 听 |
| Commitments and contingencies | 听 | 听 | 听 | ||||
| Stockholders鈥� equity: | 听 | 听 | 听 | ||||
| Preferred stock, par value | 听 | 听听听听听听听听鈥� | 听 | 听 | 听 | 听听听听听听听听鈥� | 听 |
| Common stock, par value | 听 | 听听听听听听听听212 | 听 | 听 | 听 | 听听听听听听听听213 | 听 |
| Additional paid-in capital | 听 | 听听听听听听听听308,165 | 听 | 听 | 听 | 听听听听听听听听466,554 | 听 |
| Retained earnings | 听 | 听听听听听听听听鈥� | 听 | 听 | 听 | 听听听听听听听听鈥� | 听 |
| Accumulated other comprehensive income (loss) | 听 | 听听听听听听听听560 | 听 | 听 | 听 | 听听听听听听听听(6 | ) |
| Total stockholders鈥� equity | 听 | 听听听听听听听听308,937 | 听 | 听 | 听 | 听听听听听听听听466,761 | 听 |
| Total liabilities and stockholders鈥� equity | $ | 听听听听听听听听721,511 | 听 | 听 | $ | 听听听听听听听听693,035 | 听 |
| 听 | |||||||
| Cricut, Inc. Condensed Consolidated Statements of Cash Flows (unaudited) (in thousands) | |||||||
| 听 | |||||||
| 听 | Six Months Ended June 30, | ||||||
| 听 | 听 | 2025 | 听 | 听 | 听 | 2024 | 听 |
| Cash flows from operating activities: | 听 | 听 | 听 | ||||
| Net income | $ | 听听听听听听听听48,402 | 听 | 听 | $ | 听听听听听听听听39,416 | 听 |
| Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities: | 听 | 听 | 听 | ||||
| Depreciation and amortization (including amortization of debt issuance costs) | 听 | 12,083 | 听 | 听 | 听 | 15,094 | 听 |
| Bad debt expense (benefit) | 听 | (1,594 | ) | 听 | 听 | (454 | ) |
| Stock-based compensation | 听 | 20,138 | 听 | 听 | 听 | 21,376 | 听 |
| Deferred income tax | 听 | (10,374 | ) | 听 | 听 | (9,484 | ) |
| Non-cash lease expense | 听 | 1,858 | 听 | 听 | 听 | 2,539 | 听 |
| Unrealized foreign currency (gain) loss | 听 | (995 | ) | 听 | 听 | 589 | 听 |
| Provision for inventory obsolescence, net | 听 | (11,081 | ) | 听 | 听 | (3,028 | ) |
| Other | 听 | 11 | 听 | 听 | 听 | (1,040 | ) |
| Changes in operating assets and liabilities: | 听 | 听 | 听 | ||||
| Accounts receivable | 听 | 22,446 | 听 | 听 | 听 | 27,320 | 听 |
| Inventories | 听 | 4,787 | 听 | 听 | 听 | 56,928 | 听 |
| Prepaid expenses and other current assets | 听 | 10,762 | 听 | 听 | 听 | (16,492 | ) |
| Other assets | 听 | (3,479 | ) | 听 | 听 | (122 | ) |
| Accounts payable | 听 | 18,335 | 听 | 听 | 听 | (42,060 | ) |
| Accrued expenses and other current liabilities and other non-current liabilities | 听 | (17,158 | ) | 听 | 听 | (25 | ) |
| Operating lease liabilities | 听 | (2,197 | ) | 听 | 听 | (2,799 | ) |
| Deferred revenue | 听 | 5,379 | 听 | 听 | 听 | 3,890 | 听 |
| Net cash and cash equivalents provided by operating activities | 听 | 97,323 | 听 | 听 | 听 | 91,648 | 听 |
| Cash flows from investing activities: | 听 | 听 | 听 | ||||
| Purchase of marketable securities | 听 | 鈥� | 听 | 听 | 听 | (25,442 | ) |
| Proceeds from maturities of marketable securities | 听 | 26,114 | 听 | 听 | 听 | 25,440 | 听 |
| Purchases of property and equipment, including capitalized software development costs | 听 | (10,594 | ) | 听 | 听 | (9,963 | ) |
| Net cash and cash equivalents provided by (used in) investing activities | 听 | 15,520 | 听 | 听 | 听 | (9,965 | ) |
| Cash flows from financing activities: | 听 | 听 | 听 | ||||
| Repurchase of common stock | 听 | (16,741 | ) | 听 | 听 | (20,103 | ) |
| Proceeds from exercise of stock options | 听 | 鈥� | 听 | 听 | 听 | 鈥� | 听 |
| Employee tax withholding payments on stock-based awards | 听 | (9,315 | ) | 听 | 听 | (6,541 | ) |
| Cash dividend | 听 | (21,493 | ) | 听 | 听 | (1,547 | ) |
| Net cash and cash equivalents used in financing activities | 听 | (47,549 | ) | 听 | 听 | (28,191 | ) |
| Effect of exchange rate on changes on cash and cash equivalents | 听 | 623 | 听 | 听 | 听 | (127 | ) |
| Net increase in cash and cash equivalents | 听 | 65,917 | 听 | 听 | 听 | 53,365 | 听 |
| Cash and cash equivalents at beginning of period | 听 | 232,140 | 听 | 听 | 听 | 142,187 | 听 |
| Cash and cash equivalents at end of period | $ | 听听听听听听听听298,057 | 听 | 听 | $ | 听听听听听听听听195,552 | 听 |
| Supplemental disclosures of cash flow information: | 听 | 听 | 听 | ||||
| Cash paid during the period for interest | $ | 听听听听听听听听鈥� | 听 | 听 | $ | 听听听听听听听听鈥� | 听 |
| Cash paid during the period for income taxes | $ | 听听听听听听听听10,938 | 听 | 听 | $ | 听听听听听听听听30,389 | 听 |
| Supplemental disclosures of non-cash investing and financing activities: | 听 | 听 | 听 | ||||
| Right-of-use assets obtained in exchange for new operating lease liabilities | $ | 听听听听听听听听371 | 听 | 听 | $ | 听听听听听听听听477 | 听 |
| Property and equipment included in accounts payable and accrued expenses and other current liabilities | $ | 听听听听听听听听2,718 | 听 | 听 | $ | 听听听听听听听听1,545 | 听 |
| Tax withholdings on stock-based awards included in accrued expenses and other current liabilities | $ | 听听听听听听听听635 | 听 | 听 | $ | 听听听听听听听听659 | 听 |
| Stock-based compensation capitalized for software development costs | $ | 听听听听听听听听848 | 听 | 听 | $ | 听听听听听听听听695 | 听 |
| Dividend declared but unpaid | $ | 听听听听听听听听204,814 | 听 | 听 | $ | 听听听听听听听听122,332 | 听 |
FAQ
What were Cricut's (CRCT) key financial results for Q2 2025?
How much did Cricut (CRCT) pay in dividends after Q2 2025?
What is Cricut's (CRCT) subscriber growth in Q2 2025?
How much cash does Cricut (CRCT) have and what is their debt position?
What are the main challenges facing Cricut (CRCT) in 2025?
