Cricut(CRCT) - 2025 Q3 - Quarterly Results

Financial Performance - Q3 2025 revenue was $170.4 million, up 2% compared to Q3 2024[5] - Net income for Q3 2025 was $20.5 million, representing a 79% increase year-over-year[5] - Operating income grew 114% year-over-year to $22.7 million, or 13.3% of revenue[5] - Gross margin improved to 55.2%, up from 46.1% in Q3 2024[5] - Platform revenue reached $82.8 million, up 7% over Q3 2024[5] - Total revenue for Q3 2025 was $170,437,000, a 1% increase from $167,890,000 in Q3 2024[21] - Gross profit for Q3 2025 reached $94,096,000, compared to $77,363,000 in Q3 2024, marking a 21.5% increase[21] - Net income for the nine months ended September 30, 2025, was $68,914,000, up 35.4% from $50,904,000 in the same period of 2024[21] - Earnings per share (diluted) for Q3 2025 was $0.10, compared to $0.05 in Q3 2024[21] - Diluted earnings per share rose to $0.10, up from $0.05 in Q3 2024[5] Subscriber Growth - Over 3 million paid subscribers, an increase of 6% from Q3 2024[10] Revenue Sources - International revenue increased by 5% year-over-year, accounting for 24% of total revenue[5] Cash Flow and Dividends - Generated $20 million in cash from operations during Q3 2025[4] - The company plans to pay a recurring semi-annual dividend of $0.10 per share in January 2026[4] - The company reported a net cash provided by operating activities of $117,798,000 for the nine months ended September 30, 2025[25] Expenses and Liabilities - Operating expenses for Q3 2025 totaled $71,445,000, an increase of 7.5% from $66,767,000 in Q3 2024[21] - Cash and cash equivalents decreased to $187,873,000 as of September 30, 2025, down from $232,140,000 at the end of 2024[23] - Total current assets decreased to $441,098,000 as of September 30, 2025, compared to $580,214,000 as of December 31, 2024[23] - Total liabilities decreased to $205,862,000 as of September 30, 2025, from $226,274,000 as of December 31, 2024[23] Stock Repurchase - The company repurchased common stock amounting to $19,094,000 during the nine months ended September 30, 2025[25]