Cricut, Inc. ( (CRCT) ) has released its Q1 earnings. Here is a breakdown of the information Cricut, Inc. presented to its investors.
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Cricut, Inc. is a creative technology company known for its connected platform that enables users to create high-quality DIY projects using its innovative hardware and design software. In its first quarter of 2025, Cricut reported a slight decline in revenue to $162.6 million, a 3% decrease from the previous year, but saw a significant increase in net income, which rose by 22% to $23.9 million. The company experienced a 6% increase in paid subscribers, reaching over 2.97 million, and international sales grew by 8%, now accounting for 22% of total revenue. Despite a decrease in product revenue, Cricut’s gross margin improved to 60.5%, and operating income increased by 16%. The board of directors approved three capital allocation items, including a special dividend, a recurring semi-annual dividend, and a stock repurchase program. Looking ahead, Cricut is focused on accelerating investments in product development and materials to drive future growth, while navigating uncertainties such as tariffs.