Company: CRCL
Filing Date: 2025-02-13
Form Type: DRS/A
Source: 0000950123-25-001965
Chunk: 331

Company: Circle Internet Group, Inc.
Filing Date: 2025-02-13
Form: DRS/A
Chunk 331
---
 |     |   |         |
| Transaction services                             |     | $                       |     9,896 |     | $ |  21,885 |
| Treasury services (1)                            |     |                         |         — |     |   |   7,509 |
| Other                                            |     |                         |     9,964 |     |   |   6,773 |
| Total other revenue                              |     |                         |    19,860 |     |   |  36,167 |
| Total revenue and reserve income from continuing 
 operations                                       |     | $                       | 1,450,466 |     | $ | 772,052 |

| (1) |     | Reserve income and Treasury services revenue are outside the scope of ASC 606. |

F-36

CONFIDENTIAL TREATMENT REQUESTED BY CIRCLE INTERNET GROUP, INC. PURSUANT TO 17 C.F.R. § 200.83

Reserve income

All Circle stablecoins issued and outstanding are fully backed by equivalent amounts of fiat currency denominated assets held in segregated reserve accounts. The Company
earns interest and dividends on assets held in reserve accounts, which include cash balances held at banks, investments in available-for-sale debt securities and
investments in the Circle Reserve Fund. Interest income is recognized under the effective interest method, and dividend income from the Circle Reserve Fund is recognized on the declaration date.

Other revenue

Other revenue generally consists of revenues generated
from services centered around Circle stablecoins and related transactional or wallet infrastructure. The components of other revenue primarily includes revenues from transaction services, treasury services, and other revenues.

Transaction services relate to the processing of Circle stablecoin native payments, payouts to sellers, vendors or end-users as well as ledger management, facilitating
digital asset transactions and Circle stablecoins custody services.

Transaction services contracts constitute a series of distinct payment processing services that
Circle stands ready to provide to the customers over the contract period. The transaction price for these services is entirely variable based on the number of transactions processed, and consideration is allocated to the distinct service that forms
part of its single performance obligation to provide payment processing services. Invoices are sent to customers monthly and include monthly subscription and volume-based fees based upon transaction activity. Therefore, revenue is recognized over
time as the performance obligation is met. In certain instances, customers prepay their monthly subscription by paying annually. In those instances, we recognize revenue over the life of the contract as the performance obligation is