Revenue for Q1 reached $159.5 million, a 2% decrease from Q1 2025, driven by a 9.6% drop in products revenue to $74.7 million. Platform revenue grew nearly 6% to $84.8 million, international revenue jumped over 16% to 26% of total, gross margin slipped to 58.1%, operating income fell 22% to $22.9 million (14.4% of sales), and net income was $20.3 million (12.7% of sales), down 15%. Earnings per share declined to $0.10.

Paid subscribers rose 3% year-over-year to 3.08 million, while platform ARPU increased 5% to $55.65. Active users edged up 1% to 5.97 million, though 90-day engaged users slipped 1% to 3.35 million, reflecting early traction from guided onboarding and bundles in Design Space.

The company generated $27 million in operating cash flow and repurchased $12.2 million of stock (2.77 million shares), leaving $29.1 million on its $50 million buyback authorization. Cricut ended the quarter with $256 million in cash, no debt, and approved a $0.10 per share semiannual dividend payable July 21, 2026, to shareholders of record July 7, 2026.