Cricut Reports Q1 GAAP EPS of $0.11, Revenue of $162.6M, and 6% YoY Increase in Paid Subscribers.

Cricut reported Q1 GAAP EPS of $0.11 and revenue of $162.6M, beating expectations by $7.93M. Paid Subscribers increased to 2.97 million, up 6% YoY, and Platform ARPU rose to $53.10, up 2% YoY. However, Active Users decreased slightly. The company's financial performance indicates a stable growth in its subscription base and revenue despite a decline in active users.

Cricut, Inc. (NASDAQ: CRCT) has released its first-quarter (Q1) 2025 financial results, showing a mixed bag of performance metrics. The company reported a GAAP EPS of $0.11, up from $0.09 in Q1 2024, and revenue of $162.6 million, a decrease of 3% compared to the same period last year. Despite the revenue decline, Cricut exceeded analyst expectations by $7.93 million [1].

One of the standout figures was the increase in paid subscribers, which grew to just over 2.97 million, a 6% year-over-year (YoY) increase. Platform ARPU also saw a 2% YoY rise to $53.10. However, there was a slight decrease in active users, which dropped to just over 5.9 million from 5.952 million in Q1 2024 [1].

Cricut's gross margin improved to 60.5% from 54.7% in Q1 2024, and operating income rose to $29.3 million, or 18.0% of revenue, up 16% from Q1 2024. Net income was $23.9 million, up 22% from Q1 2024. The company generated $61.2 million in cash from operations in Q1, up from $56.7 million in Q1 2024 [1].

The board of directors authorized three capital allocation items: a special dividend of $0.75 per share, a recurring semi-annual dividend of $0.10 per share, and a stock repurchase program up to $50 million [1].

Cricut's CEO, Ashish Arora, noted the company's resilience despite tariffs, stating, "We acknowledge that tariffs have introduced uncertainty, but we have spent the last several years moving the majority of our finished goods spend outside of China across all of our product categories" [1].

The company's financial performance indicates a stable growth in its subscription base and revenue, despite a decline in active users. Cricut's management will host a conference call and webcast on May 6, 2025, to discuss the results further [1].

References:
[1] https://www.marketscreener.com/quote/stock/CRICUT-INC-120780838/news/Cricut-Inc-Reports-First-Quarter-2025-Financial-Results-49846372/