Cricut, Inc.
For the period ended Dec 31, 2025. Filed Mar 4, 2026.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Mar 4, 2026
CRCT$8.67-1.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(in thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Cash flows from operating activities: | |||
| Net income | $76,705 | $62,830 | $53,636 |
| Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities: | |||
| Depreciation and amortization (including amortization of debt issuance costs) | 24,439 | 29,006 | 30,039 |
| Bad debt expense/(recoveries, net) | (1,695) | 3,285 | 1,720 |
| Impairments | 642 | 486 | 9,953 |
| Stock-based compensation | 34,791 | 45,067 | 47,326 |
| Deferred income tax | 26,117 | (4,378) | (11,238) |
| Non-cash lease expense | 3,460 | 4,811 | 4,987 |
| Provision for inventory obsolescence, net | (19,706) | (5,401) | 26,330 |
| Unrealized foreign currency (gain) / loss | (1,077) | 1,047 | 88 |
| Other | (714) | (1,816) | (2,143) |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | 12,618 | 4,888 | 23,500 |
| Inventories | 41,161 | 149,965 | 78,376 |
| Prepaid expenses and other current assets | (2,429) | (7,221) | 4,204 |
| Other assets | (3,223) | (1,119) | 869 |
| Accounts payable | 16,854 | (23,120) | 13,535 |
| Accrued expenses, other current liabilities and other non-current liabilities | (8,774) | 6,985 | 7,761 |
| Operating lease liabilities | (3,968) | (5,365) | (5,423) |
| Deferred revenue | 5,029 | 5,018 | 4,577 |
| Net cash and cash equivalents provided by operating activities | 200,230 | 264,968 | 288,097 |
| Cash flows from investing activities: | |||
| Purchase of marketable securities | — | (110,521) | (63,451) |
| Proceeds from maturities of marketable securities | 85,074 | 110,527 | 38,390 |
| Purchases of property and equipment, including capitalized software development costs | (24,417) | (18,334) | (23,717) |
| Net cash and cash equivalents provided by (used in) investing activities | 60,657 | (18,328) | (48,778) |
| Cash flows from financing activities: | |||
| Repurchases of common stock | (24,748) | (38,493) | (20,332) |
| Proceeds from exercise of stock options | — | — | 383 |
| Employee tax withholding payments on stock-based awards | (10,594) | (7,970) | (8,106) |
| Cash dividend | (202,103) | (109,972) | (294,130) |
| Net cash and cash equivalents used in financing activities | (237,445) | (156,435) | (322,185) |
| Effect of exchange rate on changes on cash and cash equivalents | 634 | (252) | 110 |
| Net increase (decrease) in cash and cash equivalents | 24,076 | 89,953 | (82,756) |
| Cash and cash equivalents at beginning of period | 232,140 | 142,187 | 224,943 |
| Cash and cash equivalents at end of period | $256,216 | $232,140 | $142,187 |
| Supplemental disclosures of cash flow information: | |||
| Cash paid during the period for income taxes | $15,349 | $43,596 | $24,072 |
Consolidated Statements of Cash Flows (continued)
(in thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Supplemental disclosures of non-cash investing and financing activities: | |||
| Right-of-use assets obtained in exchange for new operating lease liabilities | $371 | $6,417 | $280 |
| Property and equipment included in accounts payable, accrued expenses and other current liabilities | $3,460 | $2,050 | $2,824 |
| Tax withholdings on stock-based awards included in accrued expenses and other current liabilities | $652 | $463 | $451 |
| Stock-based compensation capitalized for software development costs | $1,634 | $1,509 | $1,960 |
| Dividends declared but unpaid | $24,361 | $24,413 | $2,342 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.