Welcome to our dedicated page for Cricut news (Ticker: CRCT), a resource for investors and traders seeking the latest updates and insights on Cricut stock.
Cricut, Inc. (symbol: CRCT) is renowned for its innovative cutting plotters, or computer-controlled cutting machines, specifically designed for home crafters. These versatile machines can cut a wide variety of materials including paper, felt, vinyl, fabric, leather, matboard, and even wood.
As a pioneering creative technology company, Cricut offers a unique creativity platform that empowers users to transform their ideas into professional-grade handmade products. The company's ecosystem integrates connected machines, design applications, accessories, and materials, enabling the creation of personalized items ranging from birthday cards and mugs to T-shirts and extensive interior decorations.
Cricut’s revenue streams are composed of three primary segments:
- Connected Machines: Sales of machine hardware and essential software.
- Subscriptions: Monthly and annual fees for access to exclusive designs, fonts, and other premium features.
- Accessories and Materials: A range of craft-related products and tools, including the Cricut EasyPress, Cricut Mug Press, and Cricut Autopress.
The company's product suite includes industry-leading devices such as the Cricut Maker series, Cricut Explore series, Cricut Joy, and Cricut Venture. Additionally, unique tools like the Cricut EasyPress and the Infusible Ink system, along with a vast array of crafting materials, enhance the creative process.
Recent company updates include an earnings call webcast available on Cricut’s investor relations website. The company actively uses its investor relations site and the Cricut News Blog to share material non-public information, ensuring compliance with Regulation FD. These platforms, along with press releases, SEC filings, and public conference calls, provide stakeholders with the latest business updates.
Cricut is committed to supporting a vibrant community of millions of users globally, fostering creativity and innovation with every project.
For more information, please visit the Cricut investor relations website or the Cricut News Blog.
Cricut reported Q3 2024 financial results with revenue of $167.9 million, down 4% from Q3 2023. Paid subscribers grew 5% year-over-year to over 2.8 million. Platform revenue was $77.7 million, slightly up, while products revenue declined 7% to $90.2 million. Net income was $11.5 million (6.8% of revenue), down 33% from Q3 2023. The company generated $70 million in cash from operations and announced a semi-annual dividend of $0.10 per share. International revenue increased by 2%, representing 23% of total revenue.
Cricut, Inc. (NASDAQ: CRCT), the creative technology company, has announced it will report its financial results for the third quarter ended September 30, 2024 after U.S. markets close on Tuesday, November 5, 2024. The company will host a conference call and webcast to discuss the results at 3:00 p.m. Mountain Time (5:00 p.m. Eastern Time) on the same day.
Investors can access the live webcast of the earnings call on Cricut's investor relations website at https://investor.cricut.com/. A webcast replay will be available after the event. To join the audio call, participants must pre-register using the provided link, after which they will receive dial-in details and a unique PIN code via email. To avoid long wait times, it is suggested to register at least one day in advance or at minimum 15 minutes before the call starts.
Cricut, Inc. (NASDAQ: CRCT) has announced the expansion of its board of directors with the addition of Heidi Zak as an independent board member and member of the audit committee. This increases the board size from seven to eight members. Jason Makler, Chairman of Cricut's Board, highlighted Zak's skills and experiences as complementary to the existing board and leadership team.
Ashish Arora, CEO of Cricut, emphasized Zak's valuable insights as co-founder and CEO of ThirdLove, along with her prior professional experiences. Her expertise in developing new markets, focusing on brand and customer experience, and understanding core customer segments is expected to guide Cricut's acquisition and engagement strategy.
Heidi Zak expressed her enthusiasm for joining the board, stating her intention to leverage her experience to help Cricut return to growth and focus on its core target market.
Cricut Inc. (NASDAQ: CRCT), a creative technology company, has announced its participation in two upcoming investor conferences. The management team will present at Citi's 2024 Global Technology Conference on September 6, 2024, in New York City, and the Goldman Sachs Communacopia + Technology Conference on September 12, 2024, in San Francisco.
Both presentations will be webcast live on Cricut's investor relations website, with replays available after the events. Cricut provides a connected platform for creative projects, offering smart cutting machines, design software, and other tools for DIY enthusiasts. The company serves millions of users worldwide and uses its investor relations website and News Blog to disclose material non-public information.
Cricut (NASDAQ: CRCT) reported its Q2 2024 financial results, showcasing a mix of growth and declines. Q2 revenue was $167.9 million, down 6% YoY. However, connected machines revenue grew by 18% and net income increased by 23% to $19.8 million. The company also posted a gross margin of 53.5% and an operating income of $26.4 million.
Key metrics include a 3% rise in paid subscribers to over 2.8 million, and a 5% increase in Platform ARPU to $52.61. Cricut remains debt-free with $299 million in cash and generated $35 million in cash from operations this quarter. Shareholder returns included $9.3 million for repurchasing 1.5 million shares and a special dividend payout.
Noteworthy is the increase in international revenue by 3%. However, product revenue dipped 10%, and 90-day engaged users decreased by 3% YoY.
Cricut, Inc. (NASDAQ: CRCT), a creative technology company, has announced it will release its second quarter 2024 financial results on August 6, 2024, after U.S. markets close. The company will host a conference call and webcast at 3:00 p.m. Mountain Time (5:00 p.m. Eastern Time) on the same day to discuss the results.
Investors can access the live webcast on Cricut's investor relations website. A replay will be available after the event. To join the audio call, participants must pre-register using the provided link, after which they will receive dial-in details and a unique PIN code. To avoid delays, registration is recommended at least one day in advance or 15 minutes before the call starts.
In celebration of Mother's Day, local female artists in four major U.S. cities - Austin, Chicago, New York, and San Francisco - collaborated with Cricut, Inc. (NASDAQ: CRCT) to create heartwarming murals. These unique pieces of art aim to inspire and bring joy to the communities they reside in, each reflecting the artist's individual experiences and design elements made with Cricut cutting machines.
Cricut, Inc. reported first-quarter 2024 financial results, with 2.8 million paid subscribers, a revenue of $167.4 million (8% decline from Q1 2023), and a net income of $19.6 million (up 116% from Q1 2023). The company achieved its 21st consecutive quarter of profitability, with strong operating margin growth and exciting capital allocation plans. Despite some revenue decreases, Cricut remains optimistic about platform engagement and user growth.
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