Company: CRCT
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001828962-25-000075
Chunk: 77

Company: Cricut, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 77
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Weighted-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 units4,243,796 7,396,613 Unvested Class B common stock subject to forfeiture16,408 246,083 

15.Segment Information 

The Company organizes its business into the following two reportable segments: Platform and Products. The chief operating decision makers (“CODM”) review revenue and gross profit for each of the reportable segments. The CODM consists of the Company’s chief executive officer and chief financial officer. Gross profit is defined as revenue less cost of revenue incurred by the segment. The Company considered the provisions of ASC 280-10-50