Cricut reports FY23 revenue down 14% to $765M; Q4 revenue falls 18% YoY

Cricut, Inc.

Q4 revenue $231.2M (-18% YoY); FY23 revenue $765.1M (-14% vs $886.3M).
Q4 GAAP EPS $0.05 flat; FY23 diluted EPS $0.24 vs $0.28 in FY22.
Subscriptions revenue up: Q4 $76.5M (+7.6%), FY $304M (+11.6%); paid subs 2.77M.
Gross margin improved: Q4 42.0% (from 29.8%), FY 44.9% (from 39.5%).
Cash from ops $288.1M in FY23; $26.5M spent on share buybacks in Q4 and after.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Cricut, Inc. reported the fourth quarter ended December 31, 2023 results: revenue $231.2 million, net income $11.3 million, EPS $0.05.

Period: the fourth quarter ended December 31, 2023
Revenue: $231.2 million
Net income: $11.3 million
EPS: $0.05
Result: reported results

Exact text from the filing

pricing discipline. We will keep concentrating on acquiring new users and enhancing their engagement and revenue generation.” Fourth Quarter 2023 Financial Results • Revenue was $231.2 million compared to $280.8 million in Q4 2022. • Connected machine revenue was $77.4 million compared to $102.3 million in Q4 2022. • Subscriptions revenue was $76.5 million up from to

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Source: SEC EDGAR

accession 0001828962-24-000012

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