Cricut, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data Cricut, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	487	959	1,306	886	765	713	709
Cost of revenue	344	627	849	536	422	360	318
Gross profit	142	332	457	350	343	353	390
Research and development	26.7	38.9	79.8	76.9	65	60.4	66.5
Selling and marketing	40.1	63.3	134	130	123	143	159
General and administrative	22	29.6	51.3	62.6	85.1	73	68.5
Operating expenses	88.8	132	265	270	273	277	294
Operating income	53.6	201	192	80	70	76.1	96
Interest expense			0.3	0.29	0.32	0.33	0.57
Other non-operating income	-3.29	-1.32	-0.03	2.03	9.8	12.8	11.9
Pre-tax income	50.3	199	192	82	79.8	88.9	108
Income tax	11.1	44.6	51.9	21.3	26.1	26	31.2
Net income	39.2	155	140	60.7	53.6	62.8	76.7
EBITDA	62.7	215	212	107	100	105	120
EPS, basic	0.19	0.74	0.67	0.28	0.25	0.29	0.36
EPS, diluted	0.19	0.74	0.64	0.28	0.24	0.29	0.35
Shares, basic (weighted)	208	208	209	214	217	215	215
Shares, diluted (weighted)	208	208	220	221	220	216	217

Balance sheet

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	6.65	122	242	225	142	232	256
Short-term investments			0	74.3	103	105	19.4
Receivables		163	200	137	111	102	92
Inventory		249	454	381	278	134	114
Other current assets		4.92	32.8	23.8	19.1	26.1	29.3
Total current assets		539	928	811	620	580	500
Property, plant and equipment		33.4	53.3	63.4	47.6	37.5	40.3
Lease right-of-use assets		0	17.7	17.1	12.4	14	10.9
Intangible assets		2.28	1.52	0.76	0
Total assets		581	1,006	950	750	693	581
Accounts payable		252	205	63.2	76.9	53.4	71.6
Deferred revenue		23.5	30.5	34.9	40.3	45.4	50.4
Total current liabilities		347	308	254	196	203	221
Lease liabilities		0	15.8	13.9	8.94	11.3	8.02
Other non-current liabilities		3.22	3.27	5.11	6.92	8.76	5.28
Total liabilities		352	332	277	215	226	237
Paid-in capital		413	717	673	506	467	339
Retained earnings		-184	-43.6	0	28.5	0	3.96
Other comprehensive income		0.01	-0.06	-0.48	0.28	-0.01	0.17
Shareholders' equity	121	229	674	673	535	467	344
Total equity	121	229	674	673	535	467	344
Total liabilities and equity		581	1,006	950	750	693	581
Shares outstanding		208	222	220	218	213	211

Cash flow statement

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	39.2	155	140	60.7	53.6	62.8	76.7
Depreciation and amortization	9.18	14.1	19.4	27	30	29	24.4
Stock-based compensation	1.85	9.48	38.1	41.1	47.3	45.1	34.8
Deferred income tax	-1.26	-2.29	-0.14	-20.5	-11.2	-4.32	26.1
Change in receivables	-4.88	-97.6	-37.7	63.7	23.5	4.89	12.6
Change in inventory	-73.2	-38	-208	63.1	78.4	150	41.2
Change in payables	10.3	157	-46.7	-140	13.5	-23.1	16.9
Cash from operations	3.86	248	-105	118	288	265	200
Purchases of investments		0	0	-180	-63.5	-111	0
Cash from investing	-14.1	-21.8	-35.8	-108	-48.8	-18.3	60.7
Stock issued	0	0	0.27	0.03	0.38	0	0
Share buybacks		0	0	-18.6	-20.3	-38.5	-24.7
Dividends paid	0	-51.2	0	0	-294	-110	-202
Cash from financing	10.9	-111	260	-26.2	-322	-156	-237
Exchange rate effect	-0.03	0.09	-0.13	-0.22	0.11	-0.25	0.63
Net change in cash	0.64	116	119	-16.7	-82.8	90	24.1
Interest paid	3.3	1.31	0.01	0	0	0
Income taxes paid	6.65	42.3	81.1	28.9	24	43.9	10.5

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $6.14 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	57.9%	Gross profit / revenue.
Operating margin	15.5%	Operating income / revenue.
EBITDA margin	19.0%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	16.9%	Pre-tax income / revenue.
Net margin	12.7%	Net income / revenue.
Operating cash flow margin	26.1%	Cash from operations / revenue.
Effective tax rate	25.0%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	23.8%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	15.0%	Net income / average total assets.
Return on invested capital (ROIC)	79.2%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	9.8%	Research and development expense / revenue.
Stock-based pay / revenue	3.9%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	3.5%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-0.5%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-7.2%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	-5.9%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	10.7%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	3.7%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	3.3%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	26.2%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	6.3%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	-13.7%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	14.6%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	4.1%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-10.9%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	22.1%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	8.1%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	-13.1%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	20.7%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	7.7%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	-13.9%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-24.4%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	19.4%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-4.2%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-26.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-20.1%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	8.5%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-16.2%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-15.1%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-0.0%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	0.8%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-0.5%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	0.9%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	2.49x	Current assets / current liabilities.
Quick ratio	1.78x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.42x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	37.1%	Total liabilities / total assets.
Working capital	$299.1M	Current assets - current liabilities.
Tangible book value	$368.2M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.18x	Revenue / average total assets.
Fixed asset turnover	14.3x	Revenue / average property, plant and equipment.
Inventory turnover	2.61x	Cost of revenue / average inventory.
Days inventory	140 days	365 x average inventory / cost of revenue.
Receivables turnover	9.57x	Revenue / average receivables.
Days sales outstanding	38 days	365 x average receivables / revenue.
Days payables	69 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	109 days	Days inventory + days sales outstanding - days payables.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.42	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$3.27	Revenue / diluted weighted shares.
Operating cash flow per share	$0.85	Cash from operations / diluted weighted shares.
Book value per share	$1.76	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$1.76	Tangible book value / shares outstanding.
Cash per share	$1.37	(Cash + short-term investments) / shares outstanding.
Payout ratio	230.1%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$1.29B	Share price x shares outstanding.
Enterprise value	$999.7M	Market cap + total debt - cash - short-term investments.
P/E	14.7x	Market cap / net income. Only when net income is positive.
P/S	1.86x	Market cap / revenue.
P/B	3.49x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	3.49x	Market cap / tangible book value, when positive.
P/OCF	7.14x	Market cap / cash from operations, when positive.
EV/Sales	1.45x	Enterprise value / revenue.
EV/EBIT	9.35x	Enterprise value / operating income, when both are positive.
EV/EBITDA	7.63x	Enterprise value / EBITDA, when both are positive.
Earnings yield	6.8%	Net income / market cap (the inverse of P/E).
Dividend yield	15.7%	Dividends paid over the period / market cap.
Shareholder yield	17.9%	(Dividends paid + share buybacks) / market cap.
PEG	1.90x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was Cricut, Inc.'s revenue in fiscal 2025?

Cricut, Inc. reported revenue of $708.8M for fiscal 2025, 0.5% lower than the year before.

Was Cricut, Inc. profitable in fiscal 2025?

Yes. Net income was $76.7M, a net margin of 10.8%.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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