Company: CRCT
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001828962-25-000146
Chunk: 84

Company: Cricut, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 84
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$1,215 4 %As a percentage of total revenue11 %9 %11 %10 %

General and administrative expenses increased by $3.1 million, or 19%, to $18.8 million for the three months ended June 30, 2025 from $15.7 million for the three months ended June 30, 2024. The increase was primarily driven by a $1.7 million net reversal of bad debt expense in Q2 2024 and a $1.5 million increase in professional services expense.

General and administrative expenses increased by $1.2 million, or 4%, to $35.5 million for the six months ended June 30, 2025 from $34.2 million for the six months ended June 30, 2024. The increase was primarily driven by a $3.2 million increase in professional services expense, offset by foreign currency transaction losses of $1.5 million and a $0.9 million net reversal of bad debt.

28

Other Income, Net

Three Months EndedJune 30,ChangeSix Months Ended June 30,Change20252024$%20252024$%(dollars in thousands)Other income, net$3,738 $3,360 $378 11 %$7,018 $6,445 $573 9 %

Other income, net increased by $0.4 million or 11% to $3.7 million for the three months ended June 30, 2025 from $3.4 million for the three months ended June 30, 2024. The increase was primarily driven by an increase in interest income. 

Other income, net increased by $0.6 million or 9% to $7.0 million for the six months ended June 30, 2025 from $6.4 million for the six months ended June 30, 2024. The increase was primarily driven by an increase in interest income. 

Provision for Income Taxes

Three Months EndedJune 30,ChangeSix Months Ended June 30,Change20252024$%20252024$%(dollars in thousands)Provision for income taxes$9,355 $10,023 $(668)(7)%$18,062 $18,666 $(604)(3)%

Provision for income taxes decreased by $0.7 million, or 7%, to $9.4