secwatch.observer — SEC 8-K summary
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Issuer:     Cricut, Inc. (CRCT)
CIK:        0001828962
Form:       8-K
Filed at:   2023-05-09T23:59:59+00:00
Accession:  0001828962-23-000048
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cricut Q1 revenue drops 26% to $181.2M; net income falls to $9.1M
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1828962/000182896223000048/0001828962-23-000048-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1828962/000182896223000048/crct-20230509.htm
  HTML page:      https://secwatch.observer/filing/0001828962-23-000048

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer