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    CRCT   US22658D1000

CRICUT, INC.

(CRCT)
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Delayed Nasdaq  -  05/27 04:00:00 pm EDT
7.920 USD   +4.90%
05/27CRICUT, INC. : Submission of Matters to a Vote of Security Holders (form 8-K)
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05/18Cricut to Present at Upcoming Investor Conference
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05/18Cricut to Present at Upcoming Investor Conference
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Cricut : Happy 2022, from Cricut

12/31/2021 | 02:57am EDT

Dear Cricut Community,

I love writing this holiday letter. It gives me a chance to reflect on the year that is just finishing and share my thoughts on the year that is coming up.

2021 was the year our little company grew a lot. I don't mean our team size, our business, or the number of countries we are in - more on that below. Rather, I mean that we grew as a team because of our relentless commitment to listen, learn, and execute under all circumstances. We made mistakes, but we embraced our challenges and used these moments to learn and get better.

Cricut is an innovation company. We want to delight and make amazing experiences for the inspiring people of our community across the world. Our mission at Cricut is to help people lead creative lives, and we continued to execute on this mission through the many innovations we launched this year for this global community, such as our new Cricut Maker 3, Cricut Explore 3, Cricut Mug Press, BrightPads, and an amazing portfolio of new Smart Materials.

This year, we also introduced Cricut Learn to help our community level up their skills. As a new home for Cricut education resources, including live classes and on-demand content, this site is meant for every type of maker - from those who are just starting out to makers ready to try a new medium. I am so excited about what we have planned for the growth of Cricut Learn.

Also, as promised in my 2020 letter, we focused this year on our software platform - Cricut Design Space - to improve the overall user experience and reliability. You asked for kerning and offset - and we delivered. We added new genres and internationally relevant designs, doubling our library to more than 200,000 images. We also wanted to make it easier for you to find whatever you're looking for to make your project - so we added Universal Search, allowing you to search for images, ready-to-make projects, and user profiles directly from the Design Space home screen. This is just a sampling of what happened this year, and there is still much more in the works.

You will continue to see our focus on launching innovative products, making significant improvements to Design Space, improving our content offering, and expanding our portfolio of accessories and materials.

This year, we also created the #MakeItForward initiative, which grew out of the many moments of kindness we've seen over the years from our Cricut community. So many members make beautiful projects out of the goodness of their hearts for family, friends, and even strangers as a way of giving support to a personal endeavor or social cause. When we see your inspiring stories, it gives even more meaning to what we make. For #MakeItForward, we invited our community to help us support The Birthday Party Project, an organization that helps homeless and underprivileged children celebrate their birthdays. You rose to the occasion and made more than 11,000 projects for kids to answer their birthday wishes.

With that, I say, "thank you." We've built our company around the idea that we can help people lead creative lives and create amazing products that make our customers happy. As we've grown with you over the years, we've realized how much our community shows us what truly is possible. Thank you for giving our team the opportunity to serve you and be a part of your lives.

Before I end this letter, I would like to express my appreciation for my team. Our team is passionate about our mission, our culture, and our creative community. They have continued to deliver despite all the challenges the world has seen in the past 12+ months. At Cricut, one of our values is "proud and hungry." We are very proud of what we have accomplished, and we are hungry to do so much more for you in the coming year.

Wishing you a happy and healthy 2022,

ashish arora, Cricut CEO
& the Cricut team

Disclaimer

Cricut Inc. published this content on 31 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 December 2021 07:56:05 UTC.


© Publicnow 2021
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Financials (USD)
Sales 2022 1 175 M - -
Net income 2022 - - -
Net cash 2022 346 M - -
P/E ratio 2022 -
Yield 2022 -
Capitalization 1 757 M 1 757 M -
EV / Sales 2022 1,20x
EV / Sales 2023 0,93x
Nbr of Employees 800
Free-Float 15,9%
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Number of Analysts 5
Last Close Price 7,92 $
Average target price 9,54 $
Spread / Average Target 20,5%
Managers and Directors
Ashish Arora President, Chief Executive Officer & Director
Kimball C. Shill Chief Financial Officer
Jason Makler Chairman
Sanjay Dahr VP-Information Technology Platforms & Security
Len Blackwell Independent Director
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