Company: CRCL
Filing Date: 2025-08-04
Form Type: DRS
Source: 0000950123-25-006942
Chunk: 411

Company: Circle Internet Group, Inc.
Filing Date: 2025-08-04
Form: DRS
Chunk 411
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. Integration services relate to the implementation of Circle stablecoins on public blockchains. Payment for integration services received at the inception of the contract in the form of digital assets is measured at fair value at the contract inception. Refer to the Digital assets discussion above regarding subsequent accounting for digital assets. Integration services contracts typically have one performance obligation, and revenue is recognized at a point in time when the technical implementation is complete. Other revenues are primarily generated from Developer Services. Developer Services provide customers with a suite of tools to securely custody digital assets, develop applications with Circle Wallets, enable custom transaction workflows and enhance operational efficiency. Revenue is earned primarily through subscription fee contracts that typically have one performance obligation provided and is satisfied over the contractual life of the agreement. In certain instances, customers prepay their monthly subscription by paying annually or quarterly. In those instances, the Company recognizes revenue over the life of the contract. F-65

CONFIDENTIAL TREATMENT REQUESTED BY CIRCLE INTERNET GROUP, INC. PURSUANT TO 17 C.F.R. § 200.83 Deferred Revenue Deferred revenue represents consideration received that is yet to be recognized as revenue. The changes in our deferred revenue are reflected in the following table (in thousands): Table 12.2. Changes in Deferred Revenue

| Balance at December 31, 2023                                                   |     | $ |  2,499 |   |
| Deferred revenue billed and acquired in the current period, net of recognition |     |   | 13,390 |   |
| Revenue recognized that was included in the beginning period                   |     |   | (2,499 | ) |
| Balance at December 31, 2024                                                   |     | $ | 13,390 |   |
| Balance at December 31, 2022                                                   |     | $ |  3,155 |   |
| Deferred revenue billed and acquired in the current period, net of recognition |     |   |  2,499 |   |
| Revenue recognized that was included in the beginning period                   |     |   | (3,155 | ) |
| Balance at December 31, 2023                                                   |     | $ |  2,499 |   |

13. Other income (expense), net The following table presents our major categories of Other income (expense), net(in thousands): Table 13. Other income (expense), net

|                                                                                        |     | Year ended December 31, |   2024 |   |     |   |