Q4业绩超预期 Circle(CRCL.US)盘前大涨超20%

Core Insights - Circle (CRCL.US) shares surged over 20% pre-market, reaching $74.20 following strong Q4 FY2025 earnings report [1] Financial Performance - Q4 FY2025 earnings per share (EPS) was $0.56, exceeding analysts' expectations of $0.17 [1] - Quarterly sales amounted to $770.232 million, surpassing the forecast of $739.446 million, representing a 76.92% increase from $435.367 million in the same quarter last year [1] USDC Metrics - As of year-end, circulating USDC reached $75.3 billion, a year-over-year growth of 72% [1] - Q4 FY2025 on-chain transaction volume for USDC was $11.9 trillion, reflecting a 247% year-over-year increase [1] Future Projections - Management set a long-term compound annual growth rate (CAGR) target of 40% for USDC circulation [1] - Expected other revenues (including subscriptions, services, and transaction fees) for FY2026 are projected to be between $150 million and $170 million [1] - Anticipated RLDC profit margin (revenue minus distribution and transaction costs) for FY2026 is expected to remain high at 38%-40% [1] - Projected adjusted operating expenses for FY2026 are estimated to be between $570 million and $585 million [1]