Company: CRCT
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001828962-25-000153
Chunk: 104

Company: Cricut, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 2
Chunk 104
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Other income, net decreased by $0.6 million or 16% to $3.0 million for the three months ended September 30, 2025 from $3.6 million for the three months ended September 30, 2024. The decrease was primarily driven by a decrease in interest income. 

Other income, net decreased slightly for the nine months ended September 30, 2025. 

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Provision for Income Taxes

Three Months EndedSeptember 30,ChangeNine Months Ended September 30,Change20252024$%20252024$%(dollars in thousands)Provision for income taxes$5,119 $2,674 $2,445 91 %$23,181 $21,340 $1,841 9 %

Provision for income taxes increased by $2.4 million, or 91%, to $5.1 million for the three months ended September 30, 2025 from $2.7 million for the three months ended September 30, 2024. The increase was primarily due to an increase to pre-tax book income of $11.5 million.  

Provision for income taxes increased by $1.8 million, or 9%, to $23.2 million for the nine months ended September 30, 2025 from $21.3 million for the nine months ended September 30, 2024. The increase was primarily due to a decrease in stock based compensation differences attributable to the decrease in stock price upon vesting versus the stock price at the grant date offset by an increase to pre-tax book income of $19.9 million. 

Liquidity and Capital Resources

Our operations during the periods presented have been financed primarily through cash flow from operating activities. We believe our balances of cash and cash equivalents and marketable securities, which totaled $187.9 million and $19.2 million, respectively, as of September 30, 2025, along with forecasted cash expected to be generated by ongoing operations and $300.0 million in available borrowings and the option to increase the aggregate amount of our Credit Facility by up to an additional $150.0 million (see Note 7) will be sufficient to satisfy our cash requirements over the next 12 months and beyond. Except for the recently announced semi-annual dividend and our continuing share repurchase program, our cash requirements have not changed materially since our Annual Report.

During the nine months