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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.
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Q3 2025 earnings summary4 Nov, 2025

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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Frequently asked questions

Cricut is a leading provider of personalization solutions for beginners and professionals. The industry innovator and adoption leader offers a robust creative ecosystem powered by the DIY revolution and a community of over 15 million users around the globe. Cricut’s technology solution provides endless possibilities for creating something unique—from designing and cutting custom apparel in their own homes to making one-of-a-kind party favors, greeting cards, and personalized gifts. This creativity platform gives consumers self-expression through DIY craft products, including die-cutting machines, accessories, and more than 50,000 images in the library of designs as well as a suite of digital tools that are all accessible via an online app (Cricut Design Space).

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