Circle Internet Group, Inc. Class A (CRCL) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Aug 18, 2026

Before Open (Confirmed)

Period Ending

2026 (Q2)

Consensus EPS Forecast

0.18

Last Year’s EPS

-4.48

Same Quarter Last Year

Analyst Consensus

Moderate Buy

Based on 18 Analysts Ratings

Earnings Call Summary

Q1 2026

Earnings Call Date:May 11, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call conveyed a strongly positive operational and product narrative: robust YoY growth in USDC circulation (28%), massive onchain transaction volume expansion (263% YoY), revenue and adjusted EBITDA growth (20% and 24% YoY), major product launches (Agent stack, CPN enhancements) and a $222M Arc presale with high-profile institutional investors. Offsetting items include compressed reserve yields (‑66 bps YoY), higher operating expenses (+32% YoY), sequentially flat USDC circulation, some transaction revenue timing effects, and explicit uncertainty around how Arc token issuance and incentive programs will affect future financials. Overall, the highlights materially outweigh the lowlights: the company is scaling usage, product reach and institutional partnerships while investing for future growth, though there are near-term margin and forecasting uncertainties tied to yields, costs and Arc token economics.

Company Guidance

Circle said it is leaving its full‑year 2026 guidance unchanged, but that guidance does not include any future financial impacts from the Arc token presale, Arc incentive programs or other Arc‑related revenues (when Arc tokens are created and delivered their value will be recognized as other revenue and will affect RLDC and adjusted EBITDA; the company will update guidance on the next call). To contextualize the guidance, Q1 results included USDC circulation of $77 billion (up 28% year‑over‑year), on‑chain transaction volume up 263% to $21.5 trillion (third‑party sources ~ $30T, ~80% market share), nearly $150 billion of USDC minted/redeemed in Q1, USDC held on Circle’s platform $13.7 billion (3.5x YoY, 18% of circulation), total revenue and reserve income $694 million (up 20% YoY) with a reserve return rate of 3.5% (down 66 bps YoY), total distribution/transaction/other costs $407 million (up 17% YoY), revenue less distribution/transaction/other costs $287 million (up 24% YoY) and a revenue‑less‑distribution margin of 41.4% (up 1.5 pp YoY), adjusted operating expenses $136 million (up 32% YoY), adjusted EBITDA $151 million (up 24% YoY) and an adjusted EBITDA margin of 53%; the Arc token presale raised $222 million at a $3.0 billion fully diluted network value (Circle retains 25% of tokens; ~60% allocated for ecosystem/incentives).

USDC Supply Growth

USDC circulation ended Q1 at $77 billion, up 28% year-over-year; Circle minted and redeemed nearly $150 billion of USDC in Q1, demonstrating deep liquidity and global availability.

Massive Onchain Transaction Volume

Onchain transaction volume grew 263% year-over-year to $21.5 trillion (third-party estimates near $30 trillion), with USDC capturing ~80% of onchain transaction volume and 63% of stablecoin commercial transactions per Visa; USDC represents 99.8% of X402 agentic payments.

Revenue and Profitability Expansion

Total revenue and reserve income was $694 million, up 20% year-over-year; adjusted EBITDA grew 24% year-over-year to $151 million, with an adjusted EBITDA margin of 53%; revenue less distribution/transaction/other costs rose 24% YoY to $287 million and revenue-less-distribution margin improved to 41.4% (up 1.5 percentage points YoY).

Arc Network Presale and Institutional Backing

Arc token presale raised $222 million at a $3 billion fully diluted network valuation, led by a16z crypto and including major institutional partners (Apollo, BlackRock, ICE, Standard Chartered Ventures, etc.); Arc testnet performed well and MainNet launch is imminent.

Product and Platform Momentum (Agent Stack & CPN)

Launched Circle Agent stack (agent wallets, Agent Nano micropayments, agent marketplace with 500+ endpoints, CLI) and CPN managed payments; CPN annualized trailing-30-day TPV was $8.3 billion (up 17% QoQ) and approached $10 billion as of May 7 (up ~75% since prior report); enrolled 136+ financial institutions (up 36% QoQ).

Growth in Other Digital Asset Products

EURC doubled year-over-year to €358 million; tokenized money market fund USYC grew over 300% YoY and exceeded $3 billion as of May 7; announced planned SERBTC wrapped Bitcoin product to be issued on Ethereum and Arc.

Accelerated AI Adoption and Product Velocity

Internal AI adoption: ~85% of employees using AI tools weekly and over 600 AI-native apps deployed year-to-date, enabling faster product shipping and higher development velocity.

Circle Internet Group, Inc. Class A (CRCL) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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CRCL Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 18, 2026	2026 (Q2)	0.18 / -	-4.48	―	―	―
May 11, 2026	2026 (Q1)	0.19 / 0.21	0.3	-30.00% (-0.09)
Feb 25, 2026	2025 (Q4)	0.16 / 0.43	0.02	2050.00% (+0.41)
Nov 12, 2025	2025 (Q3)	0.19 / 0.64	0	―
Aug 12, 2025	2025 (Q2)	-1.10 / -4.48	―	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

CRCL Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 11, 2026	$113.67	$131.76	+15.91%
Feb 25, 2026	$61.37	$83.14	+35.47%
Nov 12, 2025	$98.30	$86.30	-12.21%
Aug 12, 2025	$161.17	$163.21	+1.27%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.