Circle CEO Discusses Earnings as Shares Jump

Financial Performance - Revenue bump is driven by growth [1] - Saw a 90% year-over-year growth in US DC in circulation on the network [2] - Other revenue grew 250% year-on-year, adding a couple hundred basis points to margins [4] - Adjusted EBIT growth of 52% with a 50% adjusted EBIT margin [4] - In Q2, $6 trillion of transactions occurred on the network, with acceleration into Q3 [12] - Year-to-date growth of 49% as of August 10th [14] Business Strategy & Development - Circle positions itself as an Internet platform and network utility company, providing a full stack for financial institutions to leverage Stablecoin finance [6] - Building an application layer through Circle payments network and announced a new blockchain network ARC [3] - ARC is purpose-built for Stablecoin finance, with transaction fees paid in USDC [6] - Focuses on growing the money stock on the network, with optimistic views of 90% category growth for stablecoins over the next five years [13] - Primarily focused on organic growth and software-powered innovation, but has made three acquisitions this year to augment product development [16][17]