---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-039749"
form_type: "8-K"
ticker: "CRCL"
cik: "0001876042"
company_name: "Circle Internet Group, Inc."
filed_at: "2025-08-12T23:59:59+00:00"
generated_at: "2026-05-17T14:53:25.911479+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Circle reports Q2 revenue + reserve income up 53% to $658M, adjusted EBITDA up 52% to $126M

## Summary
- Total revenue and reserve income $658M (+53% YoY); net loss $482M due to $591M IPO-related non-cash charges (stock comp $424M).
- Adjusted EBITDA $126M (+52% YoY), margin 50% (up 463 bps).
- USDC in circulation $61.3B (+90% YoY); further grew to $65.2B as of Aug 10, 2025.
- Completed $1.2B IPO in June, selling 39.1M shares at $31; net proceeds $583M.
- Launched Circle Payments Network and Arc Layer-1 blockchain; partnerships with Binance, Corpay, FIS, Fiserv, OKX.

## SEC filing metadata
- accession: 0001628280-25-039749
- form_type: 8-K
- ticker: CRCL
- cik: 0001876042
- company_name: Circle Internet Group, Inc.
- filed_at: 2025-08-12T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1876042/000162828025039749/0001628280-25-039749-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1876042/000162828025039749/crcl-20250812.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-039749
- JSON: https://secwatch.observer/filing/0001628280-25-039749.json
- Plain text: https://secwatch.observer/filing/0001628280-25-039749.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.