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Circle posted $658M in revenue and a net loss of $482M in its first quarter as a public company, impacted by significant IPO-related stock compensation and valuation adjustments.
Total revenue and reserve income reached $658M, up 53% YoY
Net loss of $482M driven by $591M in non-cash IPO-related charges
Adjusted EBITDA rose to $126M, showing 52% YoY growth
USDC in circulation grew 90% YoY to $61.3B at quarter-end
Circle provided guidance for FY 2025 with targets for other revenue, RLDC margin, and adjusted operating expenses.
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