Company: CRCL
Filing Date: 2025-08-04
Form Type: DRS
Source: 0000950123-25-006942
Chunk: 357

Company: Circle Internet Group, Inc.
Filing Date: 2025-08-04
Form: DRS
Chunk 357
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5,000 |     |      |                    36,495 |     |      |   6,001 |
| Transaction revenue                        |     |      |              5,825 |     |      |     226 |     |      |                     7,451 |     |      |     644 |
| Other                                      |     |      |                195 |     |      |   1,541 |     |      |                       520 |     |      |   5,577 |
| Total other revenue                        |     | $    |             23,804 |     | $    |   6,767 |     | $    |                    44,466 |     | $    |  12,222 |
| Total revenue and reserve income           |     | $    |            658,078 |     | $    | 430,030 |     | $    |                 1,236,651 |     | $    | 795,124 |

Reserve income All Circle stablecoins issued and outstanding are fully backed by equivalent amounts of fiat currency denominated assets held in segregated reserve accounts. The Company earns interest and dividends on assets held in reserve accounts, which include cash balances held at banks and investments in the Circle Reserve Fund. Interest income is recognized under the effective interest method, and dividend income from the Circle Reserve Fund is recognized on the declaration date. Other revenue Other revenue generally consists of revenues generated from services that increase the utility of Circle stablecoins and related transactions. The components of other revenue primarily includes revenues from subscription and services, transaction revenues, and other revenues. Subscription and services consist of customer agreements where recurring revenue is generated from integration and maintenance services, fund management, time-based access, and user-based licensing. Payment for services received at the inception of the customer agreements 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. Revenues from subscription contracts and maintenance services are recognized over time as the services are delivered. Revenues from integration services contracts which have specific performance obligations are recognized at the point in time when delivery of the services are completed and accepted by the customer. The Company receives fees associated with the management of USYC in the form of performance fees. Performance fees represent variable consideration and are recognized as revenue when the Company is entitled to such fees and significant reversals of such fees are not probable. Transaction revenue is generated from usage-based, volume-based, or event-driven