Circle’s Q4 Revenue Soars 77% to $770M, Shares Jump 13%
Circle reported Q4’25 revenue and reserve income of $770 million, up 77% YoY, adjusted EBITDA soaring 412% to $167 million, and USDC circulation rising 72% to $75.3 billion. Shares jumped 13% after management detailed Arc’s 166 million testnet transactions, CPN’s $5.7 billion annualized TPV and FY25 revenue of $2.7 billion.
1. Q4 and FY25 Financial Results
Circle delivered Q4’25 total revenue and reserve income of $770 million, a 77% increase year-over-year, with net income from continuing operations of $133 million versus breakeven last year. Adjusted EBITDA reached $167 million, up 412%, while FY25 revenue and reserve income hit $2.7 billion, up 64% over FY24.
2. Product Expansion and Partnerships
The Arc public testnet has processed over 166 million transactions with near-100% uptime and half-second finality, positioning Arc for mainnet launch later this year. The Circle Payments Network enrolled 55 financial institutions, generating $5.7 billion in annualized transaction volume, while EURC circulation grew 284% to €310 million and USYC rebounded to $1.5 billion.
3. Market Response
Following the earnings release, Circle shares rose 13%, reflecting investor enthusiasm for the company’s accelerated USDC adoption and robust platform metrics. Strategic alliances with Visa for USDC settlement and Intuit’s multi-year integration further bolstered market confidence in Circle’s growth trajectory.