Company: CRCT
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001828962-25-000146
Chunk: 61

Company: Cricut, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 61
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Adjusted Cost Total Unrealized GainsFair ValueCash and Cash EquivalentsMarketable Securities(in thousands)Cash$161,248 $— $161,248 $161,248 $— Level 1:Money market funds70,892 — 70,892 70,892 — Level 2:U.S. treasury securities104,413 361 104,774 — 104,774 Total$336,553 $361 $336,914 $232,140 $104,774 Marketable securities held as of June 30, 2025 generally mature over the next 24 months. As of June 30, 2025 and December 31, 2024 all securities were in an unrealized gain position. The Company determined that an allowance for credit losses was unnecessary for the periods presented.

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5.Inventories

Inventories are comprised of the following:As ofJune 30,2025As ofDecember 31,2024(in thousands)Raw materials$30,917 $38,652 Finished goods147,941 144,630 Total inventories178,858 183,282 Less: reserves(37,934)(49,015)Total inventories, net$140,924 $134,267 Inventories current$124,796 $115,255 Inventories non-current (included in Other assets)$16,128 $19,012 The Company’s recorded inventory reserves as of June 30, 2025 consisted of $2.2 million related to excess connected machines inventory, $30.5 million related to excess accessories and materials inventory, and $5.2 million related to raw materials components. Amounts charged to the reserve account are recorded primarily in cost of revenues.

6.     Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consist of the following: As ofJune 30,2025As ofDecember 31,2024(in thousands)Customer rebates$24,208 $38,756 Other accrued liabilities and other current liabilities37,449 37,518 Total accrued expenses$61,657 $76,274 

7.    Revolving Credit Facility 

On August 4, 2022, the Company entered into a credit agreement (the “Credit Agreement”) with JPMorgan Chase Bank, N.A