Company: CRCL
Filing Date: 2025-06-02
Form Type: S-1/A
Source: 0001193125-25-132755
Chunk: 351

Company: Circle Internet Group, Inc.
Filing Date: 2025-06-02
Form: S-1/A
Chunk 351
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31, 2024                                         |     | $ |  2,241 |   |

F-21

12. Other income (expense), net The following table presents our major categories of Other income (expense), net(in thousands):

| Table 12. Other income (expense), net                                                  |     | Three months ended 
 March 31,          |   2025 |   |     |   |   2024 |   |
|:---------------------------------------------------------------------------------------|:----|:-------------------|-------:|:--|:----|:--|-------:|:--|
| Gains (losses) on digital assets and other investments, net                            |     | $                  | (8,263 | ) |     | $ |  4,366 |   |
| Interest income on corporate balances                                                  |     |                    |  7,965 |   |     |   |  8,353 |   |
| Changes in fair value of convertible debt, warrant liability, and embedded derivatives |     |                    | (2,382 | ) |     |   |  8,095 |   |
| Interest expense and amortization of discount                                          |     |                    |   (335 | ) |     |   |   (497 | ) |
| Other, net                                                                             |     |                    |    (88 | ) |     |   |    240 |   |
| Total Other (expense) income, net                                                      |     | $                  | (3,103 | ) |     | $ | 20,557 |   |

13. Income taxes For the three months ended March 31, 2025 and 2024, the Company recorded consolidated income tax expense from continuing operations of $25.0 million and $24.2 million, which represent effective tax rates of 27.9% and 33.3%, respectively. The Company’s income tax expense and effective tax rate can fluctuate period to period based on the levels of net income before income taxes, the mix of profits earned in various tax jurisdictions with differing statutory tax rates, the magnitude of non-deductibleitems and tax credits, changes in valuation allowances, and the impact of discrete items. 14. Debt Warrant liability In connection with a loan agreement with a bank, which was repaid in full in November 2019, the Company issued warrants convertible into 85 thousand Series E preferred shares with a strike price of $16.23 per share with an expiration date of February