Company: CRCT
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001828962-25-000153
Chunk: 67

Company: Cricut, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 67
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5 million and $13.5 million, respectively, was satisfied in the form of dividend equivalents to RSU or PRSU holders.

Dividends payable includes dividends declared but not yet paid and prior dividends on unvested shares of Class A common stock payable upon future vesting. 

10.Stock-Based Compensation 

Stock-Based Compensation CostThe following table shows the stock-based compensation cost by award type for the periods indicated: Three Months Ended September 30,Nine Months Ended September 30,2025202420252024(in thousands)Equity classified awardsRestricted stock units$7,902 $11,828 $28,921 $31,652 Stock options— 40 — 720 Class B common stock 58 727 379 2,999 Liability-classified awards14 13 25 35 Total stock-based compensation$7,974 $12,608 $29,325 $35,406 

15

The following table sets forth the total stock-based compensation cost included in the Company’s condensed consolidated statements of operations and comprehensive income or capitalized to assets for the periods indicated: Three Months Ended September 30,Nine Months Ended September 30,2025202420252024(in thousands)Cost of revenuePlatform$246 $341 $786 $833 Products11 170 26 566 Total cost of revenue257 511 812 1,399 Research and development2,636 4,266 9,432 11,519 Sales and marketing2,149 3,474 8,000 9,398 General and administrative2,342 3,628 9,278 10,939 Total stock-based compensation expense$7,384 $11,879 $27,522 $33,255 Capitalized for software development costs416 426 1,264 1,122 Capitalized to inventories174 303 539 1,029 Total stock-based compensation$7,974 $12,608 $29,325 $35,406 As of September 30, 2025, there was $57.7 million of unrecognized stock-based compensation cost related to service-based awards, which is expected to be recognized over a weighted-average period of 2.6 years. The total unrecognized compensation expense related to unvested PRSUs that are not probable of vesting was $184.3 million as of September