Circle Internet Group Q2 Revenue Up 53% YoY to $658.08M, USDC Growth Drives Reserve Income Increase

Tuesday, Aug 12, 2025 8:21 am ET1min read

Circle Internet Group reported Q2 revenue growth of 53% YoY to $658.08 million, beating analyst estimates. USDC in circulation grew 90% YoY to $61.3 billion. The company reported a net loss of $482 million, primarily driven by non-cash impacts and stock-based compensation. The adjusted EBITDA grew by 52% YoY to $125.8 million. CRCL stock is trading higher by 6.73% premarket.

Circle Internet Group, Inc. (NYSE: CRCL) has reported its second-quarter (Q2) 2025 financial results, showcasing significant growth in revenue and stablecoin circulation, while also incurring substantial non-cash impacts. The company's stock traded higher by 6.73% premarket, reflecting investor confidence in its performance.

Key financial highlights include a 53% year-over-year (YoY) increase in total revenue and reserve income to $658.08 million, surpassing analyst estimates. USDC in circulation grew by 90% YoY to $61.3 billion, highlighting the stablecoin's growing adoption and market share. Despite the impressive revenue growth, Circle reported a net loss of $482 million, primarily due to non-cash impacts and stock-based compensation related to its recent initial public offering (IPO).

Adjusted EBITDA grew by 52% YoY to $125.8 million, reflecting the company's operational leverage and the continued growth of USDC in circulation. The company also launched several strategic initiatives, including Circle Payments Network (CPN) and Circle Gateway, to expand its services and partnerships in the digital asset and financial sectors.

Circle's successful $1.2 billion IPO in June was a significant milestone for the company, as well as for the broader stablecoin market. The IPO allowed Circle to secure additional capital for growth and innovation, while also strengthening its regulatory position with the signing of the GENIUS Act.

Looking ahead, Circle expects USDC in circulation to grow at a multi-year compound annual growth rate (CAGR) of 40% and other revenue to reach $75-$85 million in fiscal year 2025. The company will also continue to focus on expanding its partnerships and services, as well as the development of its open Layer-1 blockchain, Arc.

References:

[1] https://www.businesswire.com/news/home/20250812836620/en/Circle-Reports-Second-Quarter-2025-Results

Circle Internet Group Q2 Revenue Up 53% YoY to $658.08M, USDC Growth Drives Reserve Income Increase

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