Cricut, Inc. — Third Quarter 2026 Earnings Summary

Financial Performance:

• Total revenue reached $188.6 million, an 11% increase year-over-year compared to Q3 2025.
• Platform revenue was $85.9 million, up nearly 4% year-over-year.
• Products revenue was $102.7 million, up 17% year-over-year.
• International revenue increased 30% year-over-year, representing 28% of total revenue compared to 24% in Q3 2025.
• Gross margin improved to 57.7%, up from 55.2% in Q3 2025.
• Operating income was $33.9 million (18.0% of revenue), a 50% increase from $22.7 million (13.3% of revenue) in Q3 2025.
• Net income was $27.8 million (14.8% of revenue), a 36% increase from $20.5 million (12.0% of revenue) in Q3 2025.
• Diluted earnings per share were $0.13, up from $0.10 in Q3 2025.
• Cash from operations generated $24 million in the quarter.
• The company used $6.5 million to repurchase 1,294,882 shares, with $15.1 million remaining on a $50 million authorized stock repurchase program replenished in May 2025.
• Cash and cash equivalents ended the quarter at $174.6 million, with total cash and cash equivalents including marketable securities at $273 million.

Business Segments and Product Lines:

• Paid subscribers increased to 3.07 million, a 2% year-over-year increase.
• Platform ARPU increased to $56.70, up 3% year-over-year.
• Active users grew 2% year-over-year to nearly 6.0 million (5,989,000).
• 90-Day Engaged Users remained flat year-over-year at 3.5 million (3,466,000).
• The company launched the Maker 5 and StickerPix products to expand the ecosystem.

Other Key Points:

• The Board of Directors approved a recurring semi-annual dividend of $0.10 per share and a special dividend of $0.70 per share, both payable in January 2027.
• The stock repurchase program was replenished to $50 million in May 2025.
• Deferred revenue, current portion, was $52.0 million as of September 30, 2026, compared to $50.4 million as of December 31, 2025.
• Inventories increased to $146.9 million as of September 30, 2026, from $102.7 million as of December 31, 2025.