Positive Net Income Growth
Cricut, Inc. achieved its eighth consecutive year of positive net income, generating $62.8 million, which is a 17% increase from the previous year. This also resulted in a $0.05 increase in diluted EPS for the full year.
Increase in Paid Subscribers
The company saw a 7% increase in paid subscribers, reaching 2.96 million by the end of 2024. This signifies a growth in subscriber base by 189,000 year on year and 121,000 sequentially in Q4.
Launch of New Cutting Machines
Cricut launched the next generation of its popular cutting machines, Cricut Explore 4 and Cricut Maker 4, which are up to 2x faster than previous models and have received positive feedback from retailers and end users.
International Revenue Growth
International revenue increased by 3% in Q4 2024, with international sales representing 25% of total revenue compared to 22% in Q4 2023.
Continued Cash Flow Generation
Cricut generated $265 million in cash from operations in 2024, maintaining a debt-free status with cash and cash equivalents of $337 million.