CRCTNasdaqSpecial Industry Machinery, NECUS GAAP · USD

Cricut, Inc.

Cricut, Inc. builds a connected crafting platform centered on its Design Space software, smart cutting machines, and a large ecosystem of accessories, materials, and digital content. The company monetizes both hardware and recurring platform usage through subscriptions, in-app purchases, and consumables that keep users engaged after the initial machine sale.

Kysy yhtiöstä
Liikevaihto709milj. USD
−0,5 %v/v
Liikevoitto (EBIT)96,0milj. USD
+26,2 %v/v
EBIT-marginaali13,5%
+2,9 %-yks.v/v
Nettotulos76,7milj. USD
+22,1 %v/v
Vapaa kassavirta200milj. USD
−24,4 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

05001 0001 500milj. USD2020: 959 milj. USD2020: EBIT 201 milj. USD20202021: 1 306 milj. USD2021: EBIT 192 milj. USD20212022: 886 milj. USD2022: EBIT 80 milj. USD20222023: 765 milj. USD2023: EBIT 70 milj. USD20232024: 713 milj. USD2024: EBIT 76 milj. USD20242025: 709 milj. USD2025: EBIT 96 milj. USD202570996
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Platform50 %

Subscription access, digital content, and software features delivered through Cricut Design Space.

Connected Machines25 %

Smart cutting and crafting machines sold in multiple families and price points.

Accessories and Materials20 %

Consumables, tools, blades, and project materials used with Cricut machines.

Other Products5 %

Ancillary hardware and bundled items such as heat presses and replacement tools.

Tuotteet

Raportoitu · osuus liikevaihdosta
46,2%27,2%26,7%FY2025100 %
  • Platform46,2 %
  • Connected Machines27,2 %
  • Accessories and Materials26,7 %

Lähde: 10-K FY2025, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.

Asiakkaat

Cricut sells primarily to hobbyists and DIY consumers who use its machines and software to make cards, apparel, gifts, and home decor. It also reaches users through retail partners and direct-to-consumer channels, with subscriptions and digital purchases serving the most engaged members of its community.

DIY hobbyists and makers

Buy connected machines and materials to create cards, apparel, gifts, and decor.

Subscription members

Pay for Cricut Access or Premium to unlock content, features, and support.

Consumables repeat buyers

Purchase vinyl, cardstock, blades, and tools for recurring project use.

Retail channel shoppers

Buy machines and accessories through mass merchants and specialty retailers.

International consumers

Buy through Cricut.com and local retail partners in selected overseas markets.

Strategia

Cricut is focused on balancing operating discipline with continued investment in software, hardware, content, and accessories that deepen engagement across its ecosystem. It is also pushing international expansion and channel growth while using subscriptions and consumables to increase recurring revenue and lifetime value per user.

Grow the platform ecosystemLyhyt aikaväli

Recurring subscriptions and digital content improve retention and reduce reliance on one-time machine sales.

Expand international marketsKeskipitkä aikaväli

New geographies can extend the user base and diversify demand beyond the U.S. holiday cycle.

Improve product and channel economicsKeskipitkä aikaväli

Unit economics and channel mix determine margins in a business with both hardware and consumables.

Maantiede

Q1/2026

Cricut is headquartered in the United States and sells globally through retail partners and Cricut.com, with direct online purchases available in the U.S., Canada, the U.K., Ireland, France, and Germany. The company’s manufacturing and supply chain are largely outsourced, so geography matters both for market access and for tariff exposure on products made outside the United States.

North America74 %
Other countries (US filing)26 %

Osuus liikevaihdosta, jonka yhtiö raportoi maantieteellisesti.

Riskit

Cricut faces demand risk if it cannot keep users engaged or anticipate changing product preferences, because the business depends on repeat usage and ecosystem adoption. It also faces supply chain, tariff, and channel risks from outsourced manufacturing, retailer dependence, and a highly competitive market for both machines and consumables.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →User engagement and preference risk1Competitive pressure2Supply chain and manufacturing concentration3Tariff and trade policy exposure4Channel and seasonality risk5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. User engagement and preference riskVaikutus: KorkeaTodennäköisyys: Korkea

    The platform depends on continued project creation, subscriptions, and repeat purchases.

    KohdistuuIf users stop creating or churn from subscriptionsRecurring revenue weakens
  2. Competitive pressureVaikutus: KorkeaTodennäköisyys: Korkea

    The company competes against machine makers and low-barrier accessory suppliers.

    KohdistuuPricingInnovationChannel share can be eroded by rivalsNew entrants
  3. Supply chain and manufacturing concentrationVaikutus: KorkeaTodennäköisyys: Korkea

    Connected machines rely on three contract manufacturers and limited component sources.

    KohdistuuDisruptions can affect inventoryFulfillmentProduct availability
  4. Tariff and trade policy exposureVaikutus: KorkeaTodennäköisyys: Kohtalainen

    A meaningful share of physical products is manufactured outside the United States.

    Kohdistuu: Tariffs can increase landed costs and compress gross margin.

  5. Channel and seasonality riskVaikutus: KeskitasoTodennäköisyys: Korkea

    Revenue is concentrated in holiday periods and through retail partners.

    KohdistuuPromotions and retailer terms can pressure marginsEspecially in Q4

Kirjanpito

Harkinnanvaraiset erät
Revenue recognition by product type

Subscriptions are recognized over time while hardware and consumables are recognized at a point in time.

Vaikutus: Affects revenue timing, mix, and comparability between Platform and Products.

Customer rebates and promotional discounts

Retail and direct channels include rebates, discounts, and returns.

Vaikutus: Can reduce net revenue and compress gross margin, especially in holiday periods.

Inventory obsolescence and impairment

Hardware and consumables require demand forecasting and inventory management.

Vaikutus: Write-downs can materially affect products cost of revenue and margins.

Seasonality

Fourth-quarter holiday demand and promotions are materially higher than other quarters.

Vaikutus: Quarterly results can be volatile and not directly comparable across periods.

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Päivitetty: 24.9.2026