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Jun 30, 2024
Cricut Q2 2024 Earnings Report
Cricut reported strong Q2 profitability with revenue down 6% compared to Q2 2023.
Key Takeaways
Cricut reported Q2 2024 financial results with a revenue of $167.9 million, a decrease of 6% compared to Q2 2023. Despite the revenue decrease, the company achieved a net income of $19.8 million, up 23% year over year, marking the 22nd consecutive quarter of profitability. Paid subscribers increased by 3% to over 2.8 million.
Revenue was $167.9 million, down 6% from Q2 2023.
Net income was $19.8 million, up 23% from Q2 2023.
Paid subscribers increased 3% year over year to over 2.8 million.
Gross margin increased to 53.5%, up from 49.3% in Q2 2023.
Cricut
Cricut
Cricut Revenue by Segment
Cricut 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