Company: CRCT
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001828962-25-000146
Chunk: 98

Company: Cricut, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 2
Chunk 98
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,354 72,562 66,384 General and administrative(1)18,795 15,739 35,460 34,245 Total operating expenses71,434 63,408 140,441 129,797 Income from operations30,105 26,432 59,446 51,637 Other income, net3,738 3,360 7,018 6,445 Income before provision for income taxes33,843 29,792 66,464 58,082 Provision for income taxes9,355 10,023 18,062 18,666 Net income$24,488 $19,769 $48,402 $39,416 

(1)    Includes stock-based compensation expense as follows:

25

Three Months Ended June 30,Six Months Ended June 30,2025202420252024(in thousands)Cost of revenuePlatform$273 $255 $540 $492 Products9 210 15 396 Total cost of revenue282 465 555 888 Research and development3,359 3,540 6,796 7,253 Sales and marketing2,737 2,988 5,851 5,924 General and administrative3,310 3,626 6,936 7,311 Total stock-based compensation expense$9,688 $10,619 $20,138 $21,376 

Comparison of the Three and Six Months Ended June 30, 2025 and 2024

Revenue

Three Months Ended June 30,ChangeSix Months Ended June 30,Change20252024$%20252024$%(dollars in thousands)Revenue:Platform$80,697 $77,649 $3,048 4 %$160,683 $155,935 $4,748 3 %Products91,415 90,298 1,117 1 %174,063 179,404 (5,341)(3)%Total revenue$172,112 $167,947 $4,165 2 %$334,746 $335,339 $(593)— %

Three Months Ended June 30, 2025 and 2024

Platform revenue increased by $3.0 million, or 4%, to $80.7 million for the three months