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Mar 31, 2022
Cricut Q1 2022 Earnings Report
Cricut's Q1 2022 performance reflected its sound business model and ability to navigate uncertainty, with total users growing to over 6.9 million and paid subscribers climbing to over 2.3 million.
Key Takeaways
Cricut, Inc. reported a decrease in revenue for Q1 2022, but saw growth in total users and paid subscribers. The company delivered its 13th consecutive quarter of profitability with a net income of $23.5 million.
Total users grew to over 6.9 million, up 40% over Q1 2021.
Paid subscribers climbed to over 2.3 million, up 43% over end of Q1 2021.
Quarterly revenue was $244.8 million, a 24% decline compared to the prior year Q1 2021.
Net income was $23.5 million, marking the 13th consecutive quarter of profitability.
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CapyFin.com Forward Guidance
Cricut is focusing on long-term growth opportunities while taking a balanced and disciplined approach to operating its profitable business model in the short term.