Company: CRCT
Filing Date: 2025-03-05
Form Type: 10-K
Source: 0001828962-25-000039
Chunk: 13

Company: Cricut, Inc.
Filing Date: 2025-03-05
Form: 10-K
Item: Item 1
Chunk 13
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 90 days.

In Cricut Design Space, our users find inspiring content for their projects and easy-to-use software tools and instructions to customize or design from scratch their project idea. Users can take advantage of images, fonts and ready-to-make projects available within our platform, or they can upload their own. We offer a select number of free images, fonts, and projects. In addition, we offer a wider selection of images, fonts, and projects through our subscription service, Cricut Access, or for purchase à la carte. The content available directly within Cricut Design Space is optimized for our cutting machines, and includes designs published by curated contributing artists from around the world, as well as from licensed content such as well-known characters and other trademarks from a variety of partner brands. The standard and premium version of our subscription service, Cricut Access, enables access to a growing library of more than one million images, thousands of ready-to-make projects, and hundreds of fonts, and the use of special design features and expanded app capabilities. Cricut Access also includes other member benefits, such as discounts on cricut.com and priority member care support. The premium version includes all of the benefits of the basic Cricut Access subscription, as well as additional discounts and preferred shipping services. As of December 31, 2024, we had nearly 3.0 million paid subscribers.

The broad range of accessories and materials in the Cricut ecosystem also help bring designs to life, from heat presses and handheld crafting tools to materials like paper and vinyl. These products work seamlessly and easily with our connected machines, which helps build brand loyalty among our user base. Creating projects drives repeat purchases of accessories and materials for years after a user first buys a connected machine, demonstrating a growing customer lifetime value through ongoing engagement with our platform.

4

Many of our users share a love of our brand, products, and mission, fostering a loyal community of users who are deeply engaged with Cricut and each other. Every project is an opportunity to start a conversation and we often see our users inspire, teach, and create together. Users are passionate about sharing Cricut tips, tricks, and personal stories and this engagement carries over into social media and into everyday life. Globally, there are  millions of Cricut followers and hundreds of independently run Cricut groups across social media. Users often self-organize, host independent events, and meet up in person across the globe.

Our internal consumer research shows us that our members crave