Company: CRCT
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001828962-25-000153
Chunk: 40

Company: Cricut, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 40
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68,914 $50,904 Shares used in computation:Weighted-average common shares outstanding, basic212,257,907 214,769,065 212,189,253 214,706,773 Weighted-average effect of potentially dilutive securities:Unvested common stock subject to forfeiture3,880 155,639 12,387 379,998 Restricted stock units3,025,340 825,041 1,813,977 194,566 Diluted weighted-average common shares outstanding215,287,127 215,749,745 214,015,617 215,281,337 Diluted earnings per share$0.10 $0.05 $0.32 $0.24 The following potentially dilutive shares were excluded from the computation of diluted earnings per share for the periods presented because including them would have had an anti-dilutive effect:Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Employee stock options2,905,923 2,987,265 2,905,923 2,987,265 Restricted stock units1,197,525 5,480,606 3,183,119 6,173,601 Unvested Class B common stock subject to forfeiture6,153 125,115 16,408 221,454 

15.Segment Information 

The Company organizes its business into the following two reportable segments: Platform and Products. The chief operating decision makers (“CODM”) review revenue and gross profit for each of the reportable segments. The CODM consists of the Company’s Chief Executive Officer and Chief Financial Officer. Gross profit is defined as revenue less cost of revenue incurred by the segment. The Company considered the provisions of ASC 280-10-50 as it relates to the information provided to and used by the CODM for evaluating performance and allocating resources to operating segments. The Platform segment derives revenue primarily from monthly and annual subscription fees, purchases of digital content, and a minimal amount of the revenue allocated to unspecified future upgrades and enhancements related to the essential software and access to the Company’s cloud-based services. For the nine months ended September 30, 2025, upfront digital content revenue comprised 2% of Platform revenue. The remaining Platform revenue consists of ratably recognized subscription revenue and revenue related to unspecified future upgrades and enhancements related to the essential software and access to the Company’s