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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.
Revenue by Segment
Revenue by Geographic Location
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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