Cricut Inc
For the period ended Dec 31, 2023. Filed Mar 6, 2024.
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FY2023 · Filed Mar 6, 2024
CRCT$8.67-1.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Operations and Comprehensive Income
(in thousands, except share and per share amounts)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Revenue: | |||
| Connected machines | $198,312 | $252,563 | $548,205 |
| Subscriptions | 303,989 | 272,344 | 205,858 |
| Accessories and materials | 262,846 | 361,389 | 552,164 |
| Total revenue | 765,147 | 886,296 | 1,306,227 |
| Cost of revenue: | |||
| Connected machines | 172,571 | 244,260 | 484,025 |
| Subscriptions | 32,346 | 26,375 | 21,961 |
| Accessories and materials | 216,937 | 265,768 | 342,791 |
| Total cost of revenue | 421,854 | 536,403 | 848,777 |
| Gross profit | 343,293 | 349,893 | 457,450 |
| Operating expenses: | |||
| Research and development | 65,048 | 76,914 | 79,814 |
| Sales and marketing | 123,169 | 130,379 | 133,963 |
| General and administrative | 85,091 | 62,647 | 51,268 |
| Total operating expenses | 273,308 | 269,940 | 265,045 |
| Income from operations | 69,985 | 79,953 | 192,405 |
| Other income (expense): | |||
| Interest income | 7,976 | 1,809 | 181 |
| Interest expense | (323) | (289) | (298) |
| Other income | 2,145 | 508 | 85 |
| Total other income (expense), net | 9,798 | 2,028 | (32) |
| Income before provision for income taxes | 79,783 | 81,981 | 192,373 |
| Provision for income taxes | 26,147 | 21,315 | 51,900 |
| Net income | $53,636 | $60,666 | $140,473 |
| Other comprehensive income (loss): | |||
| Change in net unrealized gains (losses) on marketable securities, net of tax | 711 | (300) | — |
| Change in foreign currency translation adjustment | 41 | (120) | (64) |
| Comprehensive income | $54,388 | $60,246 | $140,409 |
| Earnings per share, basic | $0.25 | $0.28 | $0.67 |
| Earnings per share, diluted | $0.24 | $0.28 | $0.64 |
| Weighted-average common shares outstanding, basic | 216,892,525 | 214,458,284 | 208,833,827 |
| Weighted-average common shares outstanding, diluted | 219,722,063 | 220,588,789 | 219,776,069 |
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