Loading...
•
Mar 31, 2023
Cricut Q1 2023 Earnings Report
Cricut reported a revenue decline but demonstrated subscription revenue growth and maintained profitability.
Key Takeaways
Cricut, Inc. reported a 26% decrease in revenue compared to Q1 2022, but achieved a 16% increase in subscription revenue and maintained its 17th consecutive quarter of profitability with a net income of $9.1 million.
Total users grew to over 8.2 million, a 19% increase year-over-year.
Paid subscribers increased to over 2.7 million, up 17% compared to Q1 2022.
Subscription revenue increased by 16% year-over-year.
International user base surpassed 1.1 million outside of North America.
Cricut
Cricut
Cricut Revenue by Segment
Cricut Revenue by Geographic Location
Revenue by Segment
Platform Revenue
CapyFin.comProducts Revenue
CapyFin.comRevenue by Geographic Location
International Revenue
CapyFin.com Forward Guidance
Cricut remains committed to its long-term operating margin targets of 15-19%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income