Cricut Inc
For the period ended Jun 30, 2024. Filed Aug 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 7, 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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Condensed Consolidated Statements of Operations and Comprehensive Income (unaudited)
Condensed Consolidated Statements of Operations and Comprehensive Income
(in thousands, except share and per share amounts)
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenue: | ||||
| Platform | $77,649 | $77,386 | $155,935 | $153,627 |
| Products | 90,298 | 100,379 | 179,404 | 205,365 |
| Total revenue | 167,947 | 177,765 | 335,339 | 358,992 |
| Cost of revenue: | ||||
| Platform | 8,888 | 8,008 | 17,647 | 15,769 |
| Products | 69,219 | 82,102 | 136,258 | 178,902 |
| Total cost of revenue | 78,107 | 90,110 | 153,905 | 194,671 |
| Gross profit | 89,840 | 87,655 | 181,434 | 164,321 |
| Operating expenses: | ||||
| Research and development | 14,315 | 16,346 | 29,168 | 34,147 |
| Sales and marketing | 33,354 | 29,407 | 66,384 | 59,023 |
| General and administrative | 15,739 | 22,652 | 34,245 | 41,372 |
| Total operating expenses | 63,408 | 68,405 | 129,797 | 134,542 |
| Income from operations | 26,432 | 19,250 | 51,637 | 29,779 |
| Other income (expense): | ||||
| Interest income | 3,053 | 3,118 | 5,471 | 4,871 |
| Interest expense | (80) | (80) | (161) | (159) |
| Other income | 387 | 653 | 1,135 | 1,294 |
| Total other income, net | 3,360 | 3,691 | 6,445 | 6,006 |
| Income before provision for income taxes | 29,792 | 22,941 | 58,082 | 35,785 |
| Provision for income taxes | 10,023 | 6,917 | 18,666 | 10,662 |
| Net income | $19,769 | $16,024 | $39,416 | $25,123 |
| Other comprehensive income (loss): | ||||
| Change in net unrealized gains (losses) on marketable securities, net of tax | $242 | $(318) | $(46) | $(130) |
| Change in foreign currency translation adjustment, net of tax | (1) | (50) | (89) | (32) |
| Comprehensive income | $20,010 | $15,656 | $39,281 | $24,961 |
| Earnings per share, basic | $0.09 | $0.07 | $0.18 | $0.12 |
| Earnings per share, diluted | $0.09 | $0.07 | $0.18 | $0.11 |
| Weighted-average common shares outstanding, basic | 216,422,513 | 216,963,697 | 215,986,713 | 216,236,887 |
| Weighted-average common shares outstanding, diluted | 217,501,646 | 219,915,839 | 217,390,891 | 219,597,977 |
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