Company: CRCT
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001828962-25-000146
Chunk: 22

Company: Cricut, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 22
---
— — 241 241 Balance as of June 30, 2024216,086,013 $216 $448,186 $— $142 $448,544 

See accompanying notes to these unaudited condensed consolidated financial statements.

6

 Cricut, Inc.

Condensed Consolidated Statements of Cash Flows

(unaudited)

(in thousands)

Six Months Ended June 30,20252024Cash flows from operating activities:Net income$48,402 $39,416 Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:Depreciation and amortization (including amortization of debt issuance costs)12,083 15,094 Bad debt expense (benefit)(1,594)(454)Stock-based compensation20,138 21,376 Deferred income tax(10,374)(9,484)Non-cash lease expense1,858 2,539 Unrealized foreign currency (gain) loss(995)589 Provision for inventory obsolescence, net(11,081)(3,028)Other11 (1,040)Changes in operating assets and liabilities:Accounts receivable22,446 27,320 Inventories4,787 56,928 Prepaid expenses and other current assets10,762 (16,492)Other assets(3,479)(122)Accounts payable18,335 (42,060)Accrued expenses, other current liabilities and other non-current liabilities(17,158)(25)Operating lease liabilities(2,197)(2,799)Deferred revenue5,379 3,890 Net cash and cash equivalents provided by operating activities97,323 91,648 Cash flows from investing activities:Purchases of marketable securities— (25,442)Proceeds from maturities of marketable securities26,114 25,440 Purchases of property and equipment, including capitalized software development costs(10,594)(9,963)Net cash and cash equivalents provided by (used in) investing activities15,520 (9,965)Cash flows from financing activities:Repurchases of common stock(16,741)(20,103)Employee tax withholding payments on stock-based awards(9,315)(6,541)Cash dividend(21,493)(1,547)Net cash and cash equivalents used in financing activities(47,549)(28,191)Effect of exchange rate