Company: CRCT
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001828962-25-000146
Chunk: 85

Company: Cricut, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 85
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 million for the three months ended June 30, 2025 from $10.0 million for the three months ended June 30, 2024. The decrease was primarily due to a decrease in stock based compensation difference attributable to the decrease in stock price upon vesting versus the stock price at the grant date.  

Provision for income taxes decreased by $0.6 million, or 3%, to $18.1 million for the six months ended June 30, 2025 from $18.7 million for the six months ended June 30, 2024. The decrease was primarily due to a decrease in stock based compensation difference attributable to the decrease in stock price upon vesting versus the stock price at the grant date.  

Liquidity and Capital Resources

Our operations during the periods presented have been financed primarily through cash flow from operating activities. We believe our balances of cash and cash equivalents and marketable securities, which totaled $298.1 million and $78.9 million, respectively, as of June 30, 2025, along with forecasted cash expected to be generated by ongoing operations and $300.0 million in available borrowings and the option to increase the aggregate amount of our credit facility by up to an additional $150.0 million (see Note 7) will be sufficient to satisfy our cash requirements over the next 12 months and beyond. Except for the recently announced special and semi-annual dividends and the new share repurchase program, our cash requirements have not changed materially since our Annual Report.

During the six months ended June 30, 2025, we paid a dividend of $21.5 million to holders of Class A and Class B common stock. On July 21, 2025, we paid a dividend of $180.6 million to holders of Class A and Class B common stock.

Our future capital requirements may vary materially from those currently planned and will depend on many factors, including our rate of revenue growth, the timing and extent of spending on research and development efforts and other growth initiatives, the expansion of sales and marketing activities, the timing of new product introductions, market acceptance of our products and overall economic conditions, including the impact of regulatory and economic uncertainty, as well as heightened, new, or proposed tariffs. To the extent that current and anticipated future sources of liquidity are insufficient to fund our future business activities and requirements, we may be required to seek additional equity or debt financing. The sale of additional equity would result in