secwatch.observer — SEC 8-K summary
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Issuer:     Cricut, Inc. (CRCT)
CIK:        0001828962
Form:       8-K
Filed at:   2024-03-05T23:59:59+00:00
Accession:  0001828962-24-000012
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1828962/000182896224000012/0001828962-24-000012-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1828962/000182896224000012/crct-20240305.htm
  HTML page:      https://secwatch.observer/filing/0001828962-24-000012

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