Cricut Q3 revenue rises on products, international growth
CRCT•Cricut’s third-quarter revenue rose 11% year over year to $188.62 million, while net income increased 36% to $27.84 million. International revenue rose 30% and accounted for 28% of the total; the company declared a $0.10 semi-annual dividend and a $0.70 special dividend.
1. Quarterly results
Cricut reported third-quarter revenue of $188.62 million, up 11% year over year and above the $173.16 million consensus estimate. Net income rose 36% to $27.84 million, and basic earnings per share were $0.13.
2. Growth and dividends
Products revenue increased 17% year over year, and international revenue grew 30%, accounting for 28% of total revenue compared with 24% a year earlier. The company cited launches of Maker 5 and StickerPix as supporting growth, declared a $0.10 semi-annual dividend and a $0.70 special dividend, and continued share repurchases. It provided no specific financial guidance for the current quarter or full year.
