Company: CRCT
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001828962-25-000146
Chunk: 27

Company: Cricut, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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5 million and $1.2 million recorded for capitalized contract costs, respectively.The following table summarizes the changes in the deferred revenue balance for the six months ended June 30, 2025 and 2024: Six Months Ended June 30,20252024(in thousands)Deferred revenue, beginning of period$48,253 $43,235 Recognition of revenue included in beginning of perioddeferred revenue(35,372)(31,834)Revenue deferred, net of revenue recognized on contracts inthe respective period40,751 35,724 Deferred revenue, end of period$53,632 $47,125 As of June 30, 2025, the aggregate amount of the transaction price allocated to remaining performance obligations was equal to the deferred revenue balance. The Company expects the following recognition of deferred revenue as of June 30, 2025:Year Ended December 31,2025 (remainder of year)202620272028Total(in thousands)Revenue expected to be recognized$40,845 $11,364 $1,285 $138 $53,632 The Company’s revenue from contracts with customers disaggregated by major product lines, excluding sales-based taxes, are included in Note 15, Segment Information.Revenue recognized during the three and six months ended June 30, 2025 related to performance obligations satisfied or partially satisfied was $1.8 million and $6.4 million, respectively. The following table presents the total revenue by geography based on the ship-to address for the periods indicated: Three Months Ended June 30,Six Months Ended June 30,2025202420252024(in thousands)North America*$135,825 $134,415 $263,394 $269,250 International36,287 33,532 71,352 66,089 Total revenue$172,112 $167,947 $334,746 $335,339 *North America revenue consists of revenues from the United States and Canada. 

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The following table presents the total revenue by source for the periods indicated: Three Months Ended June 30,Six Months Ended June 30,2025202420252024(in thousands)Platform$80,697 $77,649 $160,683 $155,935 Connected machines39,430 43,970 77,892 80,918 Accessories and materials51,985 46,328 96,171 98,