Cricut FY 2022 revenue falls 32% to $886M; net income down 57% to $60.7M

Cricut, Inc.

FY 2022 revenue $886.3M vs $1.3B in FY 2021; Q4 revenue $280.8M vs $387.8M.
Net income $60.7M ($0.28 EPS) vs $140.5M ($0.64 EPS); Q4 EPS flat at $0.05.
Connected machine revenue halved to $252.6M; subscriptions up 32% to $272.3M.
Total users 7.9M (+23%); paid subscribers 2.6M (+28%); engaged users 51%.
Management plans conservative 2023 approach targeting margin improvement and cash flow.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Cricut, Inc. reported fourth quarter and full year ended December 31, 2022 results: revenue $280.8 million (Q4) / $886.3 million (FY), net income $10.9 million (Q4) / $60.7 million (FY), EPS $0.05 diluted per share (Q4) / $0.28 diluted per share (FY).

Period: fourth quarter and full year ended December 31, 2022
Revenue: $280.8 million (Q4) / $886.3 million (FY)
Net income: $10.9 million (Q4) / $60.7 million (FY)
EPS: $0.05 diluted per share (Q4) / $0.28 diluted per share (FY)
Result: reported results

Exact text from the filing

from Operations in 2022 Total users grew to nearly 7.9 million, up 23% over FY 2021 Paid subscribers increased to 2.6 million, up 28% over FY 2021 Delivered FY 2022 revenue of $886.3 million, 32% decline compared to a strong FY 2021 74% of total users cut on their Connected Machine in 2022 SOUTH JORDAN, Utah, March 7, 2023 (GLOBE NEWSWIRE) -- Cricut, Inc. (“Cricut”)

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Source: SEC EDGAR

accession 0001828962-23-000004

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