Company: CRCT
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001828962-25-000075
Chunk: 33

Company: Cricut, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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20252024Cash flows from operating activities:Net income$23,914 $19,647 Adjustments to reconcile net income to net cash and cash equivalents provided by (used in) operating activities:Depreciation and amortization (including amortization of debt issuance costs)6,105 7,496 Bad debt expense (benefit)(1,903)992 Stock-based compensation10,450 10,757 Deferred income tax(4,798)(4,140)Non-cash lease expense904 1,272 Unrealized foreign currency (gain) loss(634)605 Provision for inventory obsolescence, net(4,868)563 Other6 (739)Changes in operating assets and liabilities:Accounts receivable32,213 32,011 Inventories4,877 20,849 Prepaid expenses and other current assets8,662 8,497 Other assets(3,125)259 Accounts payable4,895 (31,096)Accrued expenses, other current liabilities and other non-current liabilities(19,979)(12,280)Operating lease liabilities(1,074)(1,403)Deferred revenue5,521 3,398 Net cash and cash equivalents provided by operating activities61,166 56,688 Cash flows from investing activities:Purchases of marketable securities— (25,442)Proceeds from maturities of marketable securities— 25,440 Purchases of property and equipment, including capitalized software development costs(4,892)(5,117)Net cash and cash equivalents used in investing activities(4,892)(5,119)Cash flows from financing activities:Repurchases of common stock(12,000)(10,795)Employee tax withholding payments on stock-based awards(2,924)(2,408)Cash dividend(21,493)(1,439)Net cash and cash equivalents used in financing activities(36,417)(14,642)Effect of exchange rate on changes in cash and cash equivalents144 (122)Net increase in cash and cash equivalents20,001 36,805 Cash and cash equivalents at beginning of period232,140 142,187 Cash and cash equivalents at end of period$252,141 $178,992 Supplemental disclosures of cash flow information:Cash paid during the period for interest$— $— Cash paid during the period for income taxes$279 $151