Company: CRCT
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001828962-25-000146
Chunk: 73

Company: Cricut, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 73
---
 an entity wide group basis. As of June 30, 2025, long-lived assets located outside the United States, primarily located in Malaysia and China, were $5.2 million. Key financial performance measures of the segments including revenue, cost of revenue and gross profit are as follows:Three Months Ended June 30,Six Months Ended June 30,2025202420252024(in thousands)Platform:Revenue$80,697 $77,649 $160,683 $155,935 Cost of revenue8,816 8,888 17,484 17,647 Gross profit$71,881 $68,761 $143,199 $138,288 Products:Revenue$91,415 $90,298 $174,063 $179,404 Cost of revenue61,757 69,219 117,375 136,258 Gross profit$29,658 $21,079 $56,688 $43,146 Consolidated:Revenue$172,112 $167,947 $334,746 $335,339 Cost of revenue70,573 78,107 134,859 153,905 Gross profit$101,539 $89,840 $199,887 $181,434 

A reconciliation of our total segment and consolidated gross profit to our income before provision for income taxes is presented in our condensed consolidated statements of operations and comprehensive income. 

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion and analysis of our financial condition and results of operations should be read together with our interim condensed consolidated financial statements and related notes and other financial information appearing elsewhere in this Quarterly Report on Form 10-Q and our audited consolidated financial statements included in our Annual Report. This discussion and analysis contains forward-looking statements that involve risks, uncertainties and assumptions. Our actual results could differ materially from these forward-looking statements as a result of many factors, including those discussed, or incorporated by reference, in the sections titled “Risk Factors” and “Note Regarding Forward-Looking Statements.”

Overview of Our Business and History

At Cricut, our mission is to help people lead creative lives. We have designed and built a creativity platform that enables our engaged and loyal community of 5.9 million Active Users to turn ideas into professional-looking handmade goods. We define “Active