Cricut, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 07, 2023 at 04:10 pm EST
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Cricut, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 174.91 million compared to USD 177 million a year ago. Net income was USD 17.23 million compared to USD 12.44 million a year ago. Basic earnings per share from continuing operations was USD 0.08 compared to USD 0.06 a year ago. Diluted earnings per share from continuing operations was USD 0.08 compared to USD 0.06 a year ago.
For the nine months, revenue was USD 533.9 million compared to USD 605.54 million a year ago. Net income was USD 42.35 million compared to USD 49.78 million a year ago. Basic earnings per share from continuing operations was USD 0.2 compared to USD 0.23 a year ago. Diluted earnings per share from continuing operations was USD 0.19 compared to USD 0.23 a year ago.
Cricut, Inc. is a creative technology company. The Company designs and builds its ecosystem of connected cutting machines, accessories, and materials for scalability and integration. Its segments include Connected Machines, Subscriptions and Accessories and Materials. The Connected Machines segment is engaged in the sale of its connected machine hardware and related essential software. The Accessories and Materials segment consists of craft, do it yourself (DIY), home decor products and heat presses. The Company's products include a flagship line of smart cutting machines - the Cricut Maker series, the Cricut Explore series, and Cricut Joy series, and Cricit Venture series - accompanied by other tools like Cricut EasyPress, the Infusible Ink system, and a diverse collection of materials. The Cricut platform centers around its cloud-based app, Cricut Design Space, giving users access to create and work on their projects anywhere, at any time, across desktop and mobile devices.
CRICUT, INC. 
