Company: CRCL
Filing Date: 2025-04-01
Form Type: S-1
Source: 0001193125-25-070481
Chunk: 166

Company: Circle Internet Group, Inc.
Filing Date: 2025-04-01
Form: S-1
Chunk 166
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 See “—Critical accounting estimates—Loss contingencies” below for further details. Cash flows The following table summarizes our cash flows for the periods indicated:

|                                                     |     | Year ended December 31, 
 2024                    |        |     | 2023         |         |   |     | 2022 |        |   |
|:----------------------------------------------------|:----|:------------------------|-------:|:----|:-------------|--------:|:--|:----|:-----|-------:|:--|
|                                                     |     |                         |        |     | -in millions |         |   |     |      |        |   |
| Net cash provided by (used in) operating activities |     | $                       |    345 |     | $            |     140 |   |     | $    |    (73 | ) |
| Net cash provided by (used in) investing activities |     | $                       |    186 |     | $            |   8,510 |   |     | $    | (8,489 | ) |
| Net cash provided by (used in) financing activities |     | $                       | 19,450 |     | $            | (20,330 | ) |     | $    |  2,578 |   |

Operating activities Net cash provided by operating activities was $344.6 million for the year ended December 31, 2024 compared to net cash provided by operating activities of $139.6 million for the year ended December 31, 2023, driven primarily by a $142.5 million increase in cash receipts from reserve income attributable to increased average yields and average reserve deposits relating to increased average USDC in circulation balances, which was partially offset by a $32.3 million increase in distribution and transaction costs payments. Net cash provided by operating activities was $139.6 million for the year ended December 31, 2023 compared to net cash used in operating activities of $72.7 million for the year ended December 31, 2022, driven primarily by a $920.7 million increase in reserve income attributable to increased average yields, partially offset by a corresponding $787.7 million increase in distribution and transaction costs due to the increase in reserve income. Investing activities Net cash provided by investing activities was $186.3 million for the year ended December 31, 2024, driven primarily by $341.6 million of sale and maturities of available-for