Cricut's Net Income Rises 22% to $76.7M as Cash Flow Hits $200M
Cricut delivered net income of $76.7 million in 2025, up 22%, with operating income rising 26% to $96.0 million and gross margin expanding to 55.1%. Full-year revenue was $708.8 million, down less than 1%, while paid subscribers grew over 4% to 3.09 million and cash from operations reached $200 million.
1. Full-Year 2025 Results
Revenue for fiscal 2025 was $708.8 million, a decrease of less than 1% from 2024, with platform revenue rising 5% to $327.4 million and products revenue declining 5% to $381.4 million. Gross margin expanded to 55.1% from 49.5%, operating income grew 26% to $96.0 million, net income increased 22% to $76.7 million, and diluted EPS rose to $0.35.
2. Fourth Quarter 2025 Results
In Q4, revenue declined 3% to $203.6 million, platform revenue increased 6% to $83.9 million while product revenue fell 8% to $119.7 million. Gross margin improved to 47.4% from 44.9%, operating income held at $13.9 million, and net income was $7.8 million, or $0.04 per share.
3. Subscriber Growth and Cash Generation
Paid subscribers increased over 4% to 3.09 million, platform ARPU rose 5% to $55.77, active users remained near 5.9 million, and 90-day engaged users dipped 3% to 3.695 million. The company generated $200.2 million in cash from operations, ended the year with approximately $276 million in cash and equivalents, and remains debt free.
4. Outlook and Share Repurchase
Management expects to remain profitable each quarter in 2026 and generate positive cash flow while funding investments in new cutting machines, heat presses, and a Direct To Film service. The $50 million share repurchase authorization has $41.3 million remaining for buybacks.