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Cricut (CRCT) investor relations material
Cricut Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 2025 revenue reached $170.4 million, up 2% year-over-year, with net income up 79% to $20.5 million and operating income up 114% to $22.7 million (13.3% of sales).
Paid subscribers surpassed 3 million, a 6% year-over-year increase, with platform ARPU up 4% to $54.96.
Gross margin improved to 55.2% from 46.1% in Q3 2024.
The company remains debt-free, ending Q3 with $207 million in cash and cash equivalents.
Focus remains on accelerating investments in product development, marketing, and international expansion to drive future growth.
Financial highlights
Platform revenue grew 7% to $82.8 million, while products revenue declined 3% to $87.7 million; connected machines revenue increased 12%.
Accessories and materials revenue fell 17% year-over-year.
International revenue increased 5% to $40.5 million, representing 24% of total revenue.
Diluted EPS doubled to $0.10 from $0.05 in Q3 2024.
Cash from operations was $20 million in Q3; cash and equivalents totaled $207 million at quarter end.
Outlook and guidance
Platform sales expected to increase sequentially and year-over-year in Q4 and for the full year, driven by paid subscriber growth.
Higher tariff costs will negatively impact margins in Q4 and more significantly in 2026.
Q4 is expected to remain profitable with significant positive cash flow and will be the most promotional quarter.
Management is accelerating investments in hardware, materials, engagement, and marketing, especially internationally.
Sufficient liquidity is expected for the next 12 months and beyond, supported by strong cash balances and a $300 million undrawn credit facility.
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