Cricut announces 40c per share special dividend, $50M stock repurchase plan

“Given the confidence in the sustainability of our profitable operations, the board of directors approved three capital allocation items: a special dividend of $0.40 per share, a recurring semi-annual dividend of $0.10 per share, and another $50 million stock repurchase program.” said Kimball Shill, Chief Financial Officer of Cricut. “We delivered our 21st consecutive quarter of positive net income and continue to generate healthy cash flow. In Q1 2024, we generated $57 million in cash from operations, ended the quarter with $282 million in cash and cash equivalents, and we remain debt free. We remain committed to our long-term operating margin targets of 15-19%. Our proven model has demonstrated that when we operate at scale and drive top line growth, these margins are achievable.”