Company: CRCT
Filing Date: 2025-03-05
Form Type: 10-K
Source: 0001828962-25-000039
Chunk: 160

Company: Cricut, Inc.
Filing Date: 2025-03-05
Form: 10-K
Item: Item 8
Chunk 160
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— $(6)$466,761 

See accompanying notes to these consolidated financial statements.

85

Cricut, Inc.

Consolidated Statements of Cash Flows

(in thousands)

Year Ended December 31,202420232022Cash flows from operating activities:Net income$62,830 $53,636 $60,666 Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:Depreciation and amortization (including amortization of debt issuance costs)29,006 30,039 26,957 Bad debt expense 3,285 1,720 (64)Impairments486 9,953 2,922 Stock-based compensation45,067 47,326 41,121 Deferred income tax(4,378)(11,238)(20,461)Non-cash lease expense4,811 4,987 4,845 Provision for inventory obsolescence, net(5,401)26,330 11,466 Unrealized foreign currency (gain) loss1,047 88 (1,040)Other(1,816)(2,143)(440)Changes in operating assets and liabilities:Accounts receivable4,888 23,500 63,696 Inventories149,965 78,376 63,085 Prepaid expenses and other current assets(7,221)4,204 8,807 Other assets(1,119)869 (51)Accounts payable(23,120)13,535 (139,845)Accrued expenses and other current liabilities and other non-current liabilities6,985 7,761 (2,137)Operating lease liabilities(5,365)(5,423)(5,096)Deferred revenue5,018 4,577 3,252 Net cash and cash equivalents provided by operating activities264,968 288,097 117,683 Cash flows from investing activities:Purchase of marketable securities(110,521)(63,451)(180,112)Proceeds from maturities of marketable securities110,527 38,390 21,393 Proceeds from sales of marketable securities— — 84,621 Purchases of property and equipment, including capitalized software development costs(18,334)(23,717)(33,771)Net cash and cash equivalents used in investing activities(18,328)(48,778