Company: CRCT
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001828962-25-000146
Chunk: 51

Company: Cricut, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 51
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Sales and marketing expenses increased by $2.5 million, or 8%, to $35.9 million for the three months ended June 30, 2025 from $33.4 million for the three months ended June 30, 2024. The increase was primarily driven by a $2.4 million increase in advertising and other marketing costs.

Sales and marketing expenses increased by $6.2 million, or 9%, to $72.6 million for the six months ended June 30, 2025 from $66.4 million for the six months ended June 30, 2024. The increase was primarily driven by a $6.7 million increase in advertising and other marketing costs.

General and Administrative 

Three Months EndedJune 30,ChangeSix Months Ended June 30,Change20252024$%20252024$%(dollars in thousands)General and administrative$18,795$15,739$3,056 19 %$35,460$34,245$1,215 4 %As a percentage of total revenue11 %9 %11 %10 %

General and administrative expenses increased by $3.1 million, or 19%, to $18.8 million for the three months ended June 30, 2025 from $15.7 million for the three months ended June 30, 2024. The increase was primarily driven by a $1.7 million net reversal of bad debt expense in Q2 2024 and a $1.5 million increase in professional services expense.

General and administrative expenses increased by $1.2 million, or 4%, to $35.5 million for the six months ended June 30, 2025 from $34.2 million for the six months ended June 30, 2024. The increase was primarily driven by a $3.2 million increase in professional services expense, offset by foreign currency transaction losses of $1.5 million and a $0.9 million net reversal of bad debt.

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Other Income, Net

Three Months EndedJune 30,ChangeSix Months Ended June 30,Change20252024$%20252024$%(dollars in thousands)Other income, net$3,738 $3,360 $378 11 %$7,018 $6,445 $573 9 %

Other income, net increased by $0.4 million or 11% to