Cricut Q3 revenue down 32% to $177M; net income $12.4M, EPS $0.06

Cricut, Inc.

2022-Q3 EPS reported $0.23 revenue$605,536,000

Revenue $177.0M, down 31.9% YoY; connected machine revenue declined 48.8%.
Net income $12.4M ($0.06 diluted EPS) vs $30.0M ($0.13) in Q3 2021.
Subscriptions revenue $68.9M, up 29.2% YoY; paid subscribers grew 35% to 2.5M.
Total users rose 30% to 7.5M; engaged users (90-day) up 11% to 3.6M.
Gross margin improved to 46.2% from 39.2% in Q3 2021.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Cricut, Inc. reported third quarter ended September 30, 2022 results: revenue $177.0 million, net income $12.4 million, EPS $0.06.

Period: third quarter ended September 30, 2022
Revenue: $177.0 million
Net income: $12.4 million
EPS: $0.06
Result: reported results

Exact text from the filing

Financial Results Total users grew to nearly 7.5 million, up 30% over Q3 2021 Paid subscribers increased to nearly 2.5 million, up 35% over Q3 2021 Delivered Q3 2022 revenue of $177.0 million, 32% decline compared to a strong prior year Q3 2021 Delivered 15th consecutive quarter of profitability with net income of $12.4 million SOUTH JORDAN, Utah, November 8, 2022

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Source: SEC EDGAR

accession 0001828962-22-000094

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