Company: CRCL
Filing Date: 2025-08-04
Form Type: DRS
Source: 0000950123-25-006942
Chunk: 152

Company: Circle Internet Group, Inc.
Filing Date: 2025-08-04
Form: DRS
Chunk 152
---
 and advertising expenses, offset by a decrease of $0.8 million in conference expenses.

Digital assets losses (gains). Digital assets losses (gains) changed by $7.0 million, or 486.2%, for the six months ended June 30, 2025, compared to
the six months ended June 30, 2024, primarily due to a change in the prices of digital assets driven by market fluctuations.

Other (expense) income, net. Other (expense) income, net changed by $186.0 million, or 827.5% for the six months ended June 30, 2025, compared to the six months ended June 30, 2024, primarily due to a $167.6 million increase in the fair value of our
convertible debt driven by an increase in the price of our Class A common stock.

92

CONFIDENTIAL TREATMENT REQUESTED BY CIRCLE INTERNET GROUP, INC. PURSUANT TO 17 C.F.R. § 200.83 Income tax (benefit) expense. Income tax (benefit) expense decreased by $22.3 million, or 51.4% for the six months ended June 30, 2025, compared to the six months ended June 30, 2024. The decrease was primarily attributable to net tax benefits recognized in connection with stock-based compensation deductions (net of addbacks) related to the Company’s IPO in the second quarter of 2025. These benefits were partially offset by an increase in non-IPO-related pre-tax book income for the six months ended June 30, 2025, as compared to the six months ended June 30, 2024. Year ended December 31, 2024 compared to year ended December 31, 2023 and year ended December 31, 2023 compared to year ended December 31, 2022

|                                                             |     | Year ended December 31,           |      2024 |   |     |   |      2023 |   |     |   |     2022 |   |     | 2024 compared to 2023 | $ Change |   |     |     | % Change |    |     | 2023 compared to 2022 |  $ Change |   |     |     | % Change |    |
|:------------------------------------------------------------|:----|:----------------------------------|----------:|:--|:----|:--|