Did Circle beat or miss consensus estimates last quarter?

What factors drove the changes in Circle's revenue and profit?

What is the revenue and EPS growth rate for Circle year over year?

What is Circle's latest dividend and current dividend yield?

What is the market's earnings forecast for Circle next quarter?

What guidance did Circle's management provide for the next earnings period?

What is Circle's gross profit margin?

What were the key takeaways from Circle’s earnings call?

- **USDC Dominance**: $75.3B circulation (72% YoY), 50% share of real transaction volume, 0% non-USDC stablecoin usage. 
- **AI Integration**: $0.00001 agent transaction costs, 100+ AI agents testing Arc, potential 100x velocity expansion. 
- **Financial Performance**: $770M Q4 revenue (77% YoY), $167M EBITDA (412% YoY), 54% margin. 
- **Guidance**: FY '26 revenue $150-170M, RLDC margin 38-40%, 40%+ USDC CAGR. 
- **Regulatory Tailwinds**: GENIUS Act driving institutional adoption, CLARITY Act nearing passage.

**【CEO Summary Section】**
- USDC circulation reached $75.3 billion at year-end, up 72% YoY, with on-chain transaction volume hitting $12 trillion (247% YoY growth). 
- Launched Arc Testnet with 100+ leading institutions, achieving 166M total transactions and 2.3M daily average. 
- StableFX beta launched, enabling 24/7 on-chain FX with $1.7B in USYC assets. 
- AI integration advanced with Circle Gateway enabling $0.00001 transaction costs for agents, and hackathon participation from 100+ AI agents.
- CPN financial institution count grew to 55 (vs 29 Q3), with $5.7B annualized volume (68% QoQ growth). 
- EURC reached €389M (3.8x YoY), USYC assets grew to $1.7B.

**【CFO Financial Commentary】**
- Q4 '25 total revenue/reserve income: $770M (77% YoY), Adjusted EBITDA: $167M (412% YoY), margin 54%. 
- Other revenue grew to $37M (Q4), FY '25 total other revenue: $110M (exceeding $90-100M guidance). 
- FY '26 guidance: Revenue $150-170M, RLDC margin 38-40%, OpEx $570-585M. 
- Reserve return rate 3.81% (Q4), down 68bps YoY due to SOFR decline.

**【Q&A Highlights】**
- **AI & Agentic Payments**: Circle Gateway enables $0.00001 agent transactions, with 100+ AI agents testing Arc. AI-driven velocity could expand USDC use cases 100x. 
- **Regulatory Progress**: GENIUS Act driving institutional adoption, CLARITY Act nearing passage with bipartisan support. 
- **Platform Expansion**: Arc Mainnet launch in 2026 with proof-of-authority validation, targeting 11 new CPN markets. 
- **Competitive Position**: 50% share of real transaction volume (vs 39% Q3), 0% non-USDC stablecoin transaction volume. 
- **Stablecoin Growth**: 40%+ CAGR expected, driven by CPN, StableFX, and AI integration.

Circle Internet Group(CRCL)-20260225-2025 Q4 Earnings call transcript

- **USDC Dominance**: $73.7B in circulation, 108% YoY growth, with transaction volume up 580% to $9.6T.
- **Arc Network Launch**: Public testnet with 100+ participants, exploring native token for governance.
- **CPN Expansion**: 500+ institutions in pipeline, $3.4B annualized transaction volume.
- **Financial Performance**: 78% YoY EBITDA growth, 57% margin, and 66% revenue growth.
- **Market Leadership**: 29% stablecoin market share, 40% of Visa's stablecoin transaction volume.

**【CEO Summary】**
- USDC in circulation reached $73.7 billion, up 108% year-over-year, with transaction volume growing 580% YoY to $9.6 trillion.
- Launched Arc public testnet with over 100 participants, exploring a native token for governance and incentives.
- Circle Payments Network (CPN) expanded to 500+ institutions, with 29 live members and $3.4 billion annualized transaction volume.
- Tokenized money market fund (USYC) grew 200% to $1 billion, becoming the second-largest in the world.

**【CFO Financial Commentary】**
- Total revenue and reserve income: $740 million (66% YoY growth).
- Adjusted EBITDA: $166 million (78% YoY growth), margin expanding to 57%.
- RLDC margin: 39.5%, down 270bps YoY due to lower reserve rates.
- Operating expenses: $131 million (35% YoY growth), driven by partnerships and platform investments.

**【Q&A Highlights】**
- **CPN Growth**: 500+ institutions in pipeline, 29 live members, and 100x growth in monthly transaction volume.
- **Arc Token Exploration**: Potential native token for governance, incentives, and network participation.
- **Regulatory Impact**: GENIUS Act clarity driving institutional adoption, with USDC share of stablecoin transactions at 40%.
- **Competitive Position**: 29% market share of stablecoins, up from 2% YoY, with strong liquidity and compliance advantages.
- **Cost Efficiency**: Scalable model with operating leverage, 35% YoY expense growth vs. 55% revenue growth.

Circle Internet Group, Inc. (CRCL) Q3 2025 Earnings Call Transcript

- **USDC Dominance**: Circulation up 90% YoY to $61.3 billion, with 5.4x YoY on-chain volume growth, solidifying USDC as the fastest-growing stablecoin.
- **Innovative Products**: Launch of ARC blockchain (USDC gas fees) and CPN (100+ institutional partners) positions Circle as leader in programmable payments.
- **Financial Performance**: Q2 revenue $658 million (53% YoY), EBITDA $126 million (52% YoY), with 38% margin driven by network effects.
- **Strategic Growth**: 40% CAGR USDC target, $75-85 million other revenue, and $475-490 million operating expenses reflect disciplined scaling.

Actual	-4.48	0.64	0.43
Forecast	-1.105	0.1912	0.1504
Surprise	-305.43%	+234.73%	+185.90%

Actual	658.08M	739.76M	770.23M
Forecast	645.70M	708.22M	749.25M
Surprise	+1.92%	+4.45%	+2.80%

CRCL

CRCL fundamentals

CRCL Q4 2025 Earnings

Earnings Call

You can ask Aime

CRCL

CRCL fundamentals

CRCL Q4 2025 Earnings

Earnings Call

CRCL Earnings Call Summary for Q4/20258:00 AM on Feb 25, 2026

CRCL Earnings Call Summary for Q3/20258:00 AM on Nov 12, 2025

CRCL Earnings Call Summary for Q2/20258:00 AM on Aug 12, 2025

You can ask Aime