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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
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