Cricut, Inc. (CRCT) Q3 Earnings Lag Estimates

Core Viewpoint - Cricut, Inc. reported quarterly earnings of $0.05 per share, missing the Zacks Consensus Estimate of $0.07 per share, representing an earnings surprise of -28.57% [1] - The company posted revenues of $167.89 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 1.54%, but down from $174.91 million year-over-year [2] Financial Performance - Cricut's earnings of $0.05 per share for the recent quarter is a decrease from $0.08 per share a year ago [1] - The company has surpassed consensus EPS estimates two times over the last four quarters [2] - Cricut shares have lost approximately 3.3% since the beginning of the year, contrasting with the S&P 500's gain of 19.8% [3] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.04 on revenues of $228.97 million, and for the current fiscal year, it is $0.29 on revenues of $729.66 million [7] - The estimate revisions trend for Cricut is mixed, leading to a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6] Industry Context - The Technology Services industry, to which Cricut belongs, is currently in the top 32% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8]