Company: CRCT
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001828962-25-000146
Chunk: 23

Company: Cricut, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 23
---
 on changes in cash and cash equivalents623 (127)Net increase in cash and cash equivalents65,917 53,365 Cash and cash equivalents at beginning of period232,140 142,187 Cash and cash equivalents at end of period$298,057 $195,552 Supplemental disclosures of cash flow information:Cash paid during the period for income taxes$10,938 $30,389 Supplemental disclosures of non-cash investing and financing activities:Right-of-use assets obtained in exchange for new operating lease liabilities$371 $477 Property and equipment included in accounts payable, accrued expenses and other current liabilities$2,718 $1,545 Tax withholdings on stock-based awards included in accrued expenses and other current liabilities$635 $659 Stock-based compensation capitalized for software development costs$848 $695 Dividends declared but unpaid$204,814 $122,332 

See accompanying notes to these unaudited condensed consolidated financial statements.

7

Cricut, Inc.

Notes to Condensed Consolidated Financial Statements

(unaudited)

1.Description of Business and Basis of Presentation

Nature of BusinessCricut, Inc. (“Cricut” or the “Company”) is a designer and marketer of a creativity platform that enables users to turn ideas into professional-looking handmade goods. Using the Company’s platform, versatile connected machines, and accessories and materials, users create everything from personalized birthday cards, mugs and T-shirts to large-scale interior decorations. The Company’s subscription services, connected machines and related accessories and materials are primarily marketed under the Cricut brand in the United States, as well as Europe and other countries around the world. Headquartered in South Jordan, Utah, the Company is an innovator in its industry, focused on bringing innovative technology (automation and consumerization of industrial tools) to the craft, DIY, and home décor categories. The Company’s condensed consolidated financial statements include the operations of its wholly owned subsidiaries, which are located throughout Europe and in the Asia-Pacific region. The Company designs, markets, and distributes the Cricut family of products, including the platform, connected machines, and accessories and materials. In addition, Cricut sells a broad line of images, fonts, and projects for purchase à la carte.The Company organizes its business into the following two reportable segments: Platform and Products. See Note 15, Segment Information, for further discussion of the Company’s segment reporting structure.Basis of Presentation and