Cricut, Inc. (CRCT) · Nov 3, 2026 · Earnings

Cricut earnings beat as product growth returns, cash allocation expands

Beat — Diluted EPS $0.13 vs ~$0.05 consensus; revenue $188.6M vs ~$172.0M

Cricut’s Q3 earnings beat low expectations, with product revenue accelerating and new dividends and buybacks reshaping capital allocation.

Cricut is trying to revive a platform business after Q2 revenue fell 9% year over year, using new machines, subscriptions, and international expansion to re-engage its nearly 6 million-user base. Q3 shows a much stronger recovery than the market was expecting: published estimates centered around roughly $172 million of revenue and $0.05 of EPS, versus $188.6 million and $0.13 reported.

MetricQ3 2026Q3 2025Consensus
Revenue (Financial Statements)$188.6M (+10.7%)$170.4M~$172.0M
Diluted EPS (Financial Statements)$0.13 (+30.0%)$0.10~$0.05
Net income (Financial Statements)$27.8M (+35.7%)$20.5M
Nine-month operating cash flow (Cash Flow statement)$100.9M (-14.3%)$117.8M

The core business snapped back materially. Revenue beat consensus by roughly 10%, while operating income rose to $33.9 million from $22.7 million as gross profit expanded faster than operating expenses (Income Statement). The important mix shift was Products revenue, up 17% to $102.7 million, while Platform revenue grew only 4% to $85.9 million (Financial Highlights).

This is a product-led recovery, not yet a broad subscription acceleration. The new Maker 5 and StickerPix launches appear to have helped hardware and consumables demand, and management cited more than 3.07 million paid subscribers, but Platform growth remains modest. That matters because Cricut’s longer-term thesis depends on turning a larger installed machine base into recurring subscription and content revenue. 〔0〕

Cash generation is healthy, but the balance sheet is being actively redistributed. Nine-month operating cash flow declined to $100.9 million from $117.8 million, while inventory absorbed $28.6 million and capital spending rose to $28.5 million (Cash Flow statement). At the same time, Cricut used cash for $25.7 million of share repurchases and announced both a recurring $0.10 dividend and a $0.70 special dividend (Cash Flow statement; capital allocation disclosure).

The liquidity disclosure needs careful reading. The release says Q3 ended with $273 million of cash and cash equivalents, while the balance sheet reports $174.6 million of cash plus $98.1 million of marketable securities—roughly the same total, but not the same accounting classification (Balance Sheet). That supports a solid liquidity position, though the company is no longer holding as much in immediately available cash as it did at year-end.

Bottom line: This was a clear earnings beat and a meaningful reversal from Q2’s contraction, driven chiefly by products and launches rather than a major acceleration in the platform. It strengthens Cricut’s near-term execution story, but the recurring-revenue thesis still needs more evidence.

Original filing on SEC EDGAR

More Cricut, Inc. news

Cricut earnings beat as product growth returns, cash allocation expands | CRCT Stock News
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