Company: CRCT
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001828962-25-000075
Chunk: 48

Company: Cricut, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 48
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023 20291,693 Total lease payments$16,118 Less: imputed interest$(1,611)Present value of operating lease liabilities$14,507 Operating lease liabilities, current$3,815 Operating lease liabilities, non-current$10,692 The weighted average remaining operating lease term and the weighted average discount rate used to determine the operating lease liability were as follows:

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As of March 31, 2025As of December 31, 2024Weighted-average remaining lease term of operating leases4.0 years4.2 yearsWeighted-average discount rate of operating leases5.4 %5.3 %

13.Employee Benefit Plan

The Company sponsors a 401(k) plan for the benefit of its employees who have attained at least 18 years of age. The Company matches 50% of the first 12% of an employee’s salary contributed to the plan on the first day of the month following their hire date. The Company contributed $0.9 million and $0.7 million for the three months ended March 31, 2025 and 2024, respectively. 

14.Net Income Per Share

The computation of net income per share is as follows:Three Months Ended March 31,20252024(in thousands, except share and per share amounts)Basic earnings per share:Net income$23,914 $19,647 Shares used in computation:Weighted-average common shares outstanding, basic212,445,961 215,549,467 Earnings per share, basic$0.11 $0.09 Diluted earnings per share:Net income$23,914 $19,647 Shares used in computation:Weighted-average common shares outstanding, basic212,445,961 215,549,467 Weighted-average effect of potentially dilutive securities:Unvested common stock subject to forfeiture37,573 794,502 Restricted stock units1,355,486 521,083 Diluted weighted-average common shares outstanding213,839,020 216,865,052 Diluted earnings per share$0.11 $0.09 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 March 31,20252024Employee stock options2,931,909 3,248,445 Restricted stock units4