Company: CRCL
Filing Date: 2025-05-27
Form Type: S-1/A
Source: 0001193125-25-126208
Chunk: 152

Company: Circle Internet Group, Inc.
Filing Date: 2025-05-27
Form: S-1/A
Chunk 152
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 at fair value. Fair value measurements for digital assets are based on quoted market prices in active markets. Gains and losses upon sale of digital assets are measured as the difference between the cash proceeds and the carrying basis of the digital assets as determined on a first-in, first-out (“FIFO”) basis for each pool of digital assets. Prior to January 1, 2024, digital assets, including those held as collateral, are accounted for as indefinite-lived intangible assets. Accordingly, these digital assets are not subject to amortization. Instead, we tested digital assets for impairment by comparing the digital asset’s fair value to its carrying value. We measured and recognized an impairment loss whenever the carrying value exceeded quoted market prices of the respective digital asset during the period and applied costs to transactions on a first-in, first-out basis. Other income (expense), net Other income (expense), net, is composed of multiple income (expense) categories, including, but not limited to, the following:

| • |     | Realized and unrealized gains (losses) on liabilities at fair value (e.g., convertible debt, warrants, derivatives, and 
 embedded derivatives);                                                                                                  |

| • |     | Realized and unrealized gains (losses) on investments, which include changes in fair value related to our marketable equity 
 securities, digital assets held for investment and observable price changes on our non-marketable equity securities;        |

| • |     | Impairment losses on equity investments; |

| • |     | Interest income on corporate cash balances; |

| • |     | Interest expense, net of accretion of discounts and amortization of premiums; and |

| • |     | Foreign currency exchange gains and losses due to remeasurement of certain foreign currency-denominated monetary assets and 
 liabilities.                                                                                                                |

104

Income tax expense (benefit) Income tax expense (benefit) includes income taxes related to foreign jurisdictions and U.S. federal and state income taxes. As we conduct business activities internationally, any changes in the U.S. and foreign taxation of such activities may increase our overall provision for income taxes in the future. Results of operations We discuss our historical results of operations below on a consolidated basis. Past financial results are not necessarily indicative of future results. The following table sets forth a summary of our consolidated results of operations for the periods indicated, and the changes between periods. These results of operations have been prepared on the same basis as our consolidated financial statements included elsewhere in this prospectus. In the