Company: CRCL
Filing Date: 2025-06-02
Form Type: S-1/A
Source: 0001193125-25-132755
Chunk: 176

Company: Circle Internet Group, Inc.
Filing Date: 2025-06-02
Form: S-1/A
Chunk 176
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 | 16,263 |   |      | $ | 7,830 |

Operating activities Net cash provided by operating activities was $56.6 million for the three months ended March 31, 2025 compared to net cash provided by operating activities of $77.2 million for the three months ended March 31, 2024, driven primarily by a $167.9 million increase in cash receipts from reserve income attributable to increased average reserve deposits relating to increased average USDC in circulation balances, which was partially offset by a $116.8 million increase in distribution and transaction costs payments. Investing activities Net cash used in investing activities was $25.2 million for the three months ended March 31, 2025, driven primarily by $11.7 million in capitalization of software development, $7.4 million cash consideration related to the Hashnote acquisition, and $5.9 million in purchases of long-lived assets for the three months ended March 31, 2025, compared to the net cash provided by investing activities of $6.2 million for the three months ended March 31, 2024, driven primarily by $95.3 million related to the sale and maturities of available-for-sale securities, which was partially offset by an $82.8 million purchase of available-for-sale securities in the three months ended March 31, 2024. Financing activities Net cash provided by financing activities was $16.3 billion for the three months ended March 31, 2025, compared with net cash provided by financing activities of $7.8 billion for the three months ended March 31, 123

2024, primarily reflecting $16.3 billion increase in net changes in deposits held for stablecoin holders primarily due to the increase in USDC in circulation for the three months ended March 31, 2025 and a $7.8 billion increase in net changes in deposits held for stablecoin holders primarily due to the increase in USDC in circulation for the three months ended March 31, 2024. 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 The following table summarizes our cash flows for the periods indicated:

|                                                     |     | Year ended December 31, 
 2024                    |        |     | 2023         |         |   |     | 2022 |        |   |