Circle publishes Q3 2026 earnings call transcript
CRCL•Circle reported third-quarter 2026 revenue and reserve income of $865 million, up 17%, and adjusted EBITDA of $317 million, up 85%; it reaffirmed full-year margin guidance of 41.7%-43.7%.
1. Quarterly results
Total revenue and reserve income rose 17% to $865 million, while adjusted EBITDA increased 85% to $317 million. Results included $182 million in ARC token presale revenue, and quarter-end USDC circulation was flat year-over-year at $73.9 billion.
2. Outlook and plans
Management reaffirmed full-year revenue less distribution cost margin guidance of 41.7%-43.7% and flagged fourth-quarter pressure from the renewed Binance agreement. The planned $400 million acquisition of Tazapay is expected to close in 2027, when management expects material Circle Payments Network revenue.
