Company: CRCL
Filing Date: 2025-05-16
Form Type: S-1/A
Source: 0001193125-25-121234
Chunk: 168

Company: Circle Internet Group, Inc.
Filing Date: 2025-05-16
Form: S-1/A
Chunk 168
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 this amount does not include the impact of reserve income. |

| (2) |     | Reflects litigation expenses related to the FT Partners litigation and settlement expenses related to legacy businesses. Refer to Note 23 to our audited consolidated financial statements and Note 22 to our unaudited 
 condensed consolidated financial statements included elsewhere in this prospectus for a summary of these legal matters.                                                                                                 |

| (3) |     | Reflects one-time termination expenses incurred in connection with the termination of our merger agreement. |

| (4) |     | Reflects one-time restructuring expenses incurred in connection with our change in domicile from the Republic of Ireland to the State of Delaware. |

| (5) |     | Reflects legal and professional services costs related to the Hashnote acquisition in 2024 and the first quarter of 2025 and the Billeto and Cybavo acquisitions in 2022. |

Liquidity and capital resources We measure liquidity in terms of our ability to fund the cash requirements of our business operations, including our working capital and capital expenditure needs and other commitments. Our recurring working capital requirements relate mainly to our cash operating costs. Our capital expenditure requirements consist mainly of software development related to our product development and are primarily dependent on the expansion of our products as well as salaries and wages of employees associated with software development projects. As of March 31, 2025, we had total liquidity sources of $1.1 billion, which consisted of $848.6 million in cash and cash equivalents, and $274.5 million in cash and cash equivalents segregated for corporate-held stablecoins. We believe our operating cash flows, together with our total liquidity sources on hand, will be sufficient to meet our working capital and capital expenditure requirements for a period of at least 12 months from the date of this prospectus. We expect our capital expenditures and working capital requirements to continue to increase in the immediate future as we continue to invest in the expansion of our products and services. Operating payments made in the form of corporate-held stablecoins are utilized and presented in the consolidated statements of cash flow in the same manner as if such payments were settled in cash. Refer to Note 2—Deposits from Stablecoin Holders in the audited consolidated financial statements and unaudited condensed consolidated financial statements included elsewhere in this prospectus for additional details regarding the accounting for the use of corporate-held stablecoins in our statement of cash flows. 118

Cash and cash equivalents segregated for the benefit of stablecoin holders was $43