Cricut's New Heat Press: A Smart Move or a Sign of a Struggling Machine?

Cricut just dropped the EasyPress SE, and the first thing you notice is the price. At $99 for the 9x9 and $119 for the 12x10, it lands squarely in budget territory. The real question is what you're getting for that money, and the answer is surprisingly straightforward. The SE offers the same pro-grade heating plate and manual digital controls as the much pricier EasyPress 3. In other words, it delivers the core promise of consistent, edge-to-edge heat for materials like HTV and Infusible Ink, which are the lifeblood of Cricut's ecosystem. The key difference? It doesn't have Bluetooth connectivity. You manually enter the time and temperature settings, a small step back from the "smart" convenience of the app-linked 3.

That trade-off is the entire point. The SE is a stripped-down, friction-free machine. It removes the complexity and cost of the app integration, which many makers might not even use. For the price, it's a solid value proposition. The 12x10 size, in particular, is a smart move. It's the ideal tool for larger projects like blankets and batch-making, a common need for serious crafters. This isn't a gimmick; it's a practical tool designed for real-world utility.

The trust factor is already baked in. The EasyPress family has earned the extraordinary trust of makers worldwide, backed by more than 33,000 five-star reviews across the entire line. The SE inherits that reputation. It maintains the core features that matter: fast heat-up, auto-shutoff, a safety base, and a ceramic-coated plate that delivers dry, uniform heat. For a maker who just wants reliable, pro-quality results without the app overhead, the SE looks like a no-brainer. It's Cricut saying, "Here's the essential tool, simplified and priced for the masses."

The Real-World Test: Is the Craft Market Still Growing?

The demand backdrop for Cricut's new machine is a mix of powerful tailwinds and persistent headwinds. On one side, the craft industry is undergoing a meaningful evolution that aligns perfectly with Cricut's strengths. The top crafting ideas for 2026 are shifting toward intention, sustainability, and personalization, moving away from fleeting trends toward "meaningful pieces" that feel handmade and useful for everyday life. This is the sweet spot for a brand built on customization. Projects like personalized home decor and hand-stitched table runners are in demand, and Cricut's tools are designed for that exact kind of refined, thoughtful creation.

More broadly, crafting is being embraced as a lifestyle and a form of self-care. According to Michaels' chief merchandising officer, people are turning to crafting to feel grounded, connect with friends, and express themselves in a hyper-personal way as a counterbalance to constant screen time. This isn't just a hobby revival; it's a cultural shift where creativity is woven into routines, from a Sunday morning journal to a pre-bed embroidery session. For Cricut, this suggests a deepening, more resilient customer base that values the brand's community and its role in personal expression.

Yet the economic reality is a constant pressure. The craft industry reflected on a year of "extreme changes," including fluctuating tariffs and fewer retail outlets, which cascaded through the business and affected nearly every aspect of the landscape in 2025. As economic uncertainty persists, consumers are gravitating toward familiar, comforting brands they trust to capture both seasoned crafters and younger makers. This is a double-edged sword. It validates Cricut's strong brand loyalty and community-a valuable moat-but it also means the company is competing in a market where discretionary spending is under scrutiny and retailer margins are squeezed.

The bottom line is that the market is growing in purpose and depth, but it's doing so amid friction. The trend toward meaningful, personalized crafts is a powerful tailwind for Cricut's product suite. However, the brand's success now hinges on its ability to deliver that value reliably and affordably, as the new EasyPress SE aims to do. In a market where trust is a differentiator, Cricut's established reputation for quality and its community are its best assets. The real test is whether this community can be nurtured and expanded even as the broader economic and retail environment remains choppy.

The Financial Reality: A Stock Under Pressure

The launch of the EasyPress SE is a positive step, but it's being evaluated against a stock that has been under significant pressure. Cricut's shares are down 17% over the past 120 days and trade near their 52-week low of $3.94. The current price hovers around $4.47, a level that signals deep investor skepticism. This isn't a minor dip; it's a sustained move that suggests the market is looking past new products and focusing on the company's ability to generate consistent profits and growth.

The valuation metrics tell a story of a stock trading at a discount. With a price-to-sales ratio of just over 1.3 and a forward P/E near 10, the market is pricing in a cautious outlook. The stock's recent volatility, with a daily amplitude of 2.7%, shows it's still reacting sharply to news and sentiment. In this environment, a new product line is a necessary move, but it must deliver tangible results to change the narrative.

The bottom line is that the EasyPress SE is a smart product for the maker community, but it's not a magic bullet for the stock. For investors, the question isn't just about product quality-it's about whether this new machine can drive the kind of revenue acceleration and margin expansion needed to justify a higher valuation. The stock's struggle to find support shows that the market is waiting for that proof. Until then, the launch is a hopeful signal, but the financial reality remains one of pressure and doubt.

Catalysts and Risks: What to Watch

The launch of the EasyPress SE is a clear move to capture value in a tough market. The real test now is whether it can spark a tangible shift in the company's fortunes. Investors should watch for a few key signals in the coming weeks and months.

First, look for early sales traction and retail inventory levels. The craft industry is navigating a choppy landscape, with fewer retail outlets and fluctuating tariffs still affecting the business. For the SE to be a catalyst, it needs to gain shelf space and move off shelves quickly. If major retailers like Michaels report strong initial sell-through and replenishment orders, that would be a positive sign that the product is resonating. Conversely, if inventory builds up or gets marked down, it could signal the launch is struggling to break through.

Second, monitor the company's next earnings report for any shift in guidance or commentary on the core cutting machine business. The stock's recent 17% drop over the past 120 days shows the market is skeptical. Management's outlook will be critical. Any mention of the SE driving growth in the heat press segment, or a more optimistic tone on the core cutting machine business, could provide a needed boost. A continued focus on cost pressures or stagnant demand would reinforce the current bearish view.

The key risk is that the SE is a defensive move to support a product line that may be losing momentum, rather than a true catalyst for new growth. The craft market is shifting toward personalization and sustainability, but it's also under economic pressure. If the SE simply cannibalizes sales from the higher-priced EasyPress 3 without attracting new customers, it won't solve the underlying problem. The company needs to show the new machine is expanding the total addressable market for its heat application tools.

The bottom line is that the SE launch is a smart product, but the stock's fate depends on real-world results. Watch for inventory turns and management's forward view. If those signals are positive, the launch could be a turning point. If they're weak, it may just be a minor event in a longer story of struggle.