Company: CRCL
Filing Date: 2025-08-04
Form Type: DRS
Source: 0000950123-25-006942
Chunk: 356

Company: Circle Internet Group, Inc.
Filing Date: 2025-08-04
Form: DRS
Chunk 356
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| Table 10.4. Significant Unobservable Inputs |     |     | June 30, 
     2025 |   |     |     | December 31, 
         2024 |   |
|:--------------------------------------------|:----|:----|---------:|:--|:----|:----|-------------:|:--|
| Discount rate                               |     |     |      8.0 | % |     |     |          7.5 | % |
| Volatility                                  |     |     |     56.6 | % |     |     |         65.0 | % |
| Risk-free rate                              |     |     |      4.1 | % |     |     |          4.1 | % |

Nonrecurring fair value measurements Non-financial assets and investments accounted for under the measurement alternative are measured at fair value on a nonrecurring basis. Certain investments accounted for under the measurement alternative were impaired. Refer to Note 8 for further details. These fair value measurements are based on Level 3 inputs, predominantly projected cash flows from the underlying investments and an applicable discount rate used in an income approach. F-20

CONFIDENTIAL TREATMENT REQUESTED BY CIRCLE INTERNET GROUP, INC. PURSUANT TO 17 C.F.R. § 200.83

| 11. | Revenue recognition |

Disaggregation of Revenue The following table summarizes the disaggregation of revenue by major product and service (in thousands):

| Table 11.1. Revenue by Product and Service |     | 2025 | Three months ended 
           June 30, |     | 2024 |         |     | 2025 | Six months ended June 30, |     | 2024 |         |
|:-------------------------------------------|:----|:-----|-------------------:|:----|:-----|--------:|:----|:-----|--------------------------:|:----|:-----|--------:|
| Reserve income                             |     | $    |            634,274 |     | $    | 423,263 |     | $    |                 1,192,185 |     | $    | 782,902 |
| Other revenue                              |     |      |                    |     |      |         |     |      |                           |     |      |         |
| Subscription and services                  |     |      |             17,784 |     |      |