{"schema_version":"secwatch.filing_event.v1","accession":"0001828962-23-000048","form_type":"8-K","ticker":"CRCT","cik":"0001828962","company_name":"Cricut, Inc.","filed_at":"2023-05-09T23:59:59+00:00","discovered_at":"2026-05-14T18:03:40.953640+00:00","generated_at":"2026-06-15T09:50:08.644948+00:00","sec_items":["2.02","7.01","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Cricut Q1 revenue drops 26% to $181.2M; net income falls to $9.1M","bullets":["Revenue $181.2M, down 26% YoY; net income $9.1M vs $23.5M; diluted EPS $0.04.","Connected machine revenue down 45%; accessories/materials down 39%; subscriptions up 16% to $75.1M.","Users 8.2M (+19%), paid subscribers 2.7M (+17%); engaged users 45% of total base.","Cash from operations $95.2M; used $75.5M for special dividend and $3.2M for share repurchases.","Excluding $8.6M inventory write-down, operating margin 10.5%; reaffirms 15-19% long-term target."],"urls":{"canonical":"https://secwatch.observer/filing/0001828962-23-000048","json":"https://secwatch.observer/filing/0001828962-23-000048.json","markdown":"https://secwatch.observer/filing/0001828962-23-000048.md","text":"https://secwatch.observer/filing/0001828962-23-000048.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1828962/000182896223000048/0001828962-23-000048-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1828962/000182896223000048/crct-20230509.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-15T09:50:08.644948+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"da5eb7a40f90121a7d4a2eb776b84a86a51c90bd","claim":"Cricut, Inc. reported first quarter ended March 31, 2023 results: revenue $181.2 million, net income $9.1 million, EPS $0.04.","evidence_excerpt":"First Quarter 2023 Financial Results • Revenue was $181.2 million, down 26% from Q1 2022. • Connected machine revenue was $34.1 million, down 45% from Q1 2022. • Subscriptions revenue was $75.1 million, up 16% over Q1 2022. • Accessories and materials revenue was $72.0 million, down 39% from Q1 2022. • International revenue decreased by 8% over Q1 2022 and was 18% of total revenue, up from 15% of total revenue in Q1 2022 . • Gross margin was 42.3%, up from 40.5% in Q1 2022. • Operating income was $10.5 million, or 5.8% of total revenue or 10.5% excluding an $8.6 million inventory write-down and related tax effect, compared to $31.4 million, or 12.8% of revenue in Q1 2022. • Net income was $9.1 million, or 5.0% of revenue, and included an $8.6 million inventory write-down. Net income in Q1 2022 was $23.5 million, or 9.6% of revenue. • Diluted earnings per share was $0.04 or $0.07 excluding the inventory write-down and related tax effect, down from $0.11 per share in Q1 2022. • Generated","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1828962/000182896223000048/0001828962-23-000048-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"first quarter ended March 31, 2023"},{"label":"Revenue","value":"$181.2 million"},{"label":"Net income","value":"$9.1 million"},{"label":"EPS","value":"$0.04"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}