Company: CRCL
Filing Date: 2025-08-12
Form Type: S-1
Source: 0001193125-25-178989
Chunk: 142

Company: Circle Internet Group, Inc.
Filing Date: 2025-08-12
Form: S-1
Chunk 142
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 RSUs for which the service-based condition had been met prior to the IPO and the liquidity-event related performance condition was met upon the commencement of trading of our Class A common stock on the NYSE. In addition, there was an increase of $8.8 million in salaries, wages and bonus expenses due to increase in headcount.

General and administrative expenses. General and administrative expenses increased by $7.4 million or 20.7% for the three months ended June 30, 2025, compared to the three months ended June 30, 2024, primarily due to a $4.5 million increase in contributions and a $2.7 million increase in travel and entertainment costs due to Company events and associated travel expenses.

Depreciation and amortization expenses. Depreciation and amortization expenses increased by $1.6 million, or 12.5%, for the three months ended June 30, 2025, compared to the three months ended June 30, 2024, primarily due to a $2.1 million increase in amortization expense of internally developed software, offset by a $0.6 million decrease in amortization expense of acquired intangible assets.

IT infrastructure costs. IT infrastructure costs increased by $1.9 million, or 27.4%, for the three months ended June 30, 2025, compared to the three months ended June 30, 2024, primarily due to a $2.1 million increase in software licenses to support infrastructure build-out and enhanced product offerings.

Marketing expenses. Marketing expenses increased by $2.3 million, or 40.3%, for the three months ended June 30, 2025, compared to three months ended June 30, 2024, primarily driven by $3.1 million increased spending in marketing, sponsorship campaigns and advertising expenses, offset by a decrease of $0.8 million in conference expenses.**

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Digital assets (gains) losses.Digital assets (gains) losses changed by $3.6 million, or 123.7%, for the three months ended June 30, 2025, compared to the three 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 $162.3 million for the three months ended June 30, 2025, compared to the