Company: CRCL
Filing Date: 2025-05-27
Form Type: S-1/A
Source: 0001193125-25-126208
Chunk: 347

Company: Circle Internet Group, Inc.
Filing Date: 2025-05-27
Form: S-1/A
Chunk 347
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 |     |   |    2024 |
|:-------------------------------------------------|:----|:-------------------|--------:|:----|:--|--------:|
| Reserve income                                   |     | $                  | 557,911 |     | $ | 359,639 |
| Other revenue:                                   |     |                    |         |     |   |         |
| Integration services                             |     | $                  |  16,331 |     | $ |   1,000 |
| Transaction services                             |     |                    |     108 |     |   |   3,905 |
| Other                                            |     |                    |   4,223 |     |   |     550 |
| Total other revenue                              |     | $                  |  20,662 |     | $ |   5,455 |
| Total revenue and reserve income from continuing 
 operations                                       |     | $                  | 578,573 |     | $ | 365,094 |

Reserve income All Circle stablecoins issued and outstanding are fully backed by equivalent amounts of fiat currency denominated assets held in segregated reserve accounts. The Company earns interest and dividends on assets held in reserve accounts, which include cash balances held at banks and investments in the Circle Reserve Fund. Interest income is recognized under the effective interest method, and dividend income from the Circle Reserve Fund is recognized on the declaration date. Other revenue Other revenue generally consists of revenues generated from services that increase the utility of Circle stablecoins and related transactions. The components of other revenue primarily includes revenues from integration services, transaction services, and other revenues. Integration services relate to the implementation of Circle stablecoins on public blockchains. Payment for integration services received at the inception of the contract in the form of digital assets is measured at fair F-20

value at the contract inception. Refer to the Digital assets discussion above regarding subsequent accounting for digital assets. Integration services contracts typically have one performance obligation, and revenue is recognized at a point in time when the technical implementation is complete. Transaction services relate to the processing of Circle stablecoin native payments, payouts to sellers, vendors or end-usersas well as ledger management and facilitating digital asset transactions. Transaction services contracts constitute a series of distinct payment processing services that Circle stands ready to provide to the customers over the contract period. The transaction price for these services is entirely variable based on the number of transactions processed, and consideration is allocated to the distinct service that forms part of its single performance obligation to provide payment processing services. Revenue is recognized