Company: CRCL
Filing Date: 2025-06-02
Form Type: S-1/A
Source: 0001193125-25-132755
Chunk: 155

Company: Circle Internet Group, Inc.
Filing Date: 2025-06-02
Form: S-1/A
Chunk 155
---
 market
fluctuations.

106

Other (expense) income, net.Other (expense) income, net decreased by $23.7 million, or 115.1% for the three months ended March 31, 2025, compared to the three months ended March 31, 2024, primarily due to a $12.6 million increase in losses on digital assets held for investment and other investments, net, driven by market fluctuations and a $10.5 million decrease in the mark-to-market fair value adjustments on convertible debt, warrant liability and embedded derivatives. Income tax expense.Income tax expense increased by $0.8 million, or 3.3% for the three months ended March 31, 2025, compared to the three months ended March 31, 2024. The increase was primarily driven by higher pre-tax book income for the three months ended March 31, 2025, compared to the three months ended March 31, 2024. This increase was partially offset by a reduction in non-deductible stock-based compensation during the three months ended March 31, 2025. Year ended December 31, 2024 compared to year ended December 31, 2023 and year ended December 31, 2023 compared to year ended December 31, 2022

|                                                             |     | Year ended December 31, |      2024 |     |                                   |      2023 |   |     |   |    2022 |     | 2024 compared to 2023 | $ Change |   |     |     | % Change |     | 2023 compared to 2022 | $ Change |   |     |     | % Change |
|:------------------------------------------------------------|:----|:------------------------|----------:|:----|:----------------------------------|----------:|:--|:----|:--|--------:|:----|:----------------------|---------:|:--|:----|:----|:---------|:----|:----------------------|---------:|:--|:----|:----|:---------|
|                                                             |     |                         |           |     | -in thousands, except percentages |           |   |     |   |         |     |                       |          |   |     |     |          |     |                       |          |   |     |     |          |
| Revenue and reserve income                                  |     |                         |           |     |                                   |