---
schema_version: "secwatch.filing_event.v1"
accession: "0001828962-23-000004"
form_type: "8-K"
ticker: "CRCT"
cik: "0001828962"
company_name: "Cricut, Inc."
filed_at: "2023-03-07T23:59:59+00:00"
generated_at: "2026-06-18T10:00:45.994336+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001828962-23-000004
- form_type: 8-K
- ticker: CRCT
- cik: 0001828962
- company_name: Cricut, Inc.
- filed_at: 2023-03-07T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1828962/000182896223000004/0001828962-23-000004-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1828962/000182896223000004/crct-20230307.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001828962-23-000004
- JSON: https://secwatch.observer/filing/0001828962-23-000004.json
- Plain text: https://secwatch.observer/filing/0001828962-23-000004.txt

## Key facts
- Earnings Releases
  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
  source text: 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”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1828962/000182896223000004/0001828962-23-000004-index.htm

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