Company: CRCT
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001828962-25-000146
Chunk: 72

Company: Cricut, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 72
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18,683 535,850 Restricted stock units2,664,363 799,652 2,116,586 868,328 Diluted weighted-average common shares outstanding214,529,726 217,501,646 214,649,931 217,390,891 Diluted earnings per share$0.11 $0.09 $0.23 $0.18 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 June 30,Six Months Ended June 30,2025202420252024Employee stock options2,928,389 3,135,773 2,928,389 3,135,773 Restricted stock units3,126,575 5,924,084 3,278,096 10,484,929 Unvested Class B common stock subject to forfeiture16,408 227,864 16,408 245,442 

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 six months ended June 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 cloud-based services, which are recognized over the determined service period. 

20

The Products segment derives revenue primarily from the sale of its connected machine hardware, and sale of craft, DIY, home décor products and extensions. There are no internal revenue transactions between the Company’s segments.The Company does not allocate assets at the reportable segment level as these are managed on