Company: CRCL
Filing Date: 2025-08-04
Form Type: DRS
Source: 0000950123-25-006942
Chunk: 151

Company: Circle Internet Group, Inc.
Filing Date: 2025-08-04
Form: DRS
Chunk 151
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 or 85.3%, for the six months ended June 30, 2025, compared to the six months ended June 30, 2024, primarily driven by a $5.0 million decrease in the costs related to the discontinued legacy products.

Operating expenses

Compensation expenses.
Compensation expenses increased by $450.3 million, or 349.7%, for the six months ended June 30, 2025, compared to the six months ended June 30, 2024, primarily driven by $423.8 million of stock-based compensation expense related to the vesting
of RSUs for which the service-based condition had been met prior to the IPO and the liquidity-event related performance condition was met upon the commencement of trading of our Class A common stock on the NYSE. In addition, there was an
increase of $19.7 million in salaries, wages and bonus expenses due to an increase in headcount.

General and administrative expenses. General and
administrative expenses increased by $7.6 million, or 11.4%, for the six months ended June 30, 2025, compared to the six months ended June 30, 2024, primarily due to a $6.2 million increase in contributions and a $3.5 million increase in travel
and entertainment costs due to Company events and associated travel expenses.

Depreciation and amortization expenses. Depreciation and
amortization expenses increased by $3.9 million, or 16.0%, for the six months ended June 30, 2025, compared to the six months ended June 30, 2024, primarily due to a $5.1 million increase in amortization expense of internally developed software,
offset by a $1.3 million decrease in amortization expense of acquired intangible assets.

IT infrastructure costs. IT infrastructure costs
increased $3.2 million, or 24.4%, for the six months ended June 30, 2025, compared to the six months ended June 30, 2024, primarily due to a $3.7 million increase in software licenses to support infrastructure build-out and enhanced product
offerings.

Marketing expenses. Marketing expenses increased by $5.3 million, or 82.3%, for the six months ended June 30, 2025, compared to the six
months ended June 30, 2024, primarily driven by $6.1 million increased spending in marketing, sponsorship campaigns