Cricut, Inc. Reports Second Quarter 2024 Financial Results
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 (NASDAQ: CRCT) ha riportato i risultati finanziari del Q2 2024, mostrando un mix di crescita e ribassi. I ricavi del Q2 sono stati $167,9 milioni, in diminuzione del 6% rispetto all'anno precedente. Tuttavia, i ricavi provenienti dalle macchine collegate sono aumentati del 18% e il reddito netto è cresciuto del 23% a $19,8 milioni. L'azienda ha anche registrato un margine lordo del 53,5% e un reddito operativo di $26,4 milioni.
Le metriche chiave includono un aumento del 3% degli abbonati pagati, che hanno superato i 2,8 milioni, e un incremento del 5% nell'ARPU della piattaforma a $52,61. Cricut rimane senza debiti con $299 milioni in contanti e ha generato $35 milioni in contante dalle operazioni in questo trimestre. I ritorni agli azionisti hanno incluso $9,3 milioni per il riacquisto di 1,5 milioni di azioni e un pagamento di dividendi straordinario.
Significativo è l'aumento del reddito internazionale del 3%. Tuttavia, i ricavi da prodotto sono diminuiti del 10% e gli utenti attivi negli ultimi 90 giorni sono diminuiti del 3% rispetto all'anno precedente.
Cricut (NASDAQ: CRCT) publicó sus resultados financieros del Q2 2024, mostrando una mezcla de crecimiento y declives. Los ingresos del Q2 fueron $167.9 millones, una disminución del 6% en comparación con el año anterior. Sin embargo, los ingresos por máquinas conectadas crecieron un 18% y el ingreso neto aumentó un 23% a $19.8 millones. La compañía también reportó un margen bruto del 53.5% y un ingreso operativo de $26.4 millones.
Las métricas clave incluyen un aumento del 3% en suscriptores de pago que superan los 2.8 millones, y un incremento del 5% en el ARPU de la plataforma a $52.61. Cricut se mantiene libre de deudas con $299 millones en efectivo y generó $35 millones en efectivo de operaciones este trimestre. Los retornos a los accionistas incluyeron $9.3 millones por la recompra de 1.5 millones de acciones y un pago de dividendo especial.
Es notable el aumento en los ingresos internacionales del 3%. Sin embargo, los ingresos por productos cayeron un 10%, y los usuarios activos en 90 días disminuyeron un 3% en comparación con el año anterior.
Cricut (NASDAQ: CRCT)는 2024년 2분기 재무 결과를 발표하며 성장과 하락의 조화를 보여주었습니다. 2분기 수익은 $167.9백만으로 전년 대비 6% 감소했습니다. 그러나 연결 기계의 수익은 18% 증가했으며, 순이익은 23% 증가하여 $19.8백만에 이르렀습니다. 회사는 또한 53.5%의 총 마진과 $26.4백만의 운영 수익을 기록했습니다.
주요 지표에는 3% 증가한 유료 구독자가 280만명을 초과하며, 플랫폼 ARPU가 5% 증가하여 $52.61에 달했습니다. Cricut은 $299백만의 현금을 보유하며 무부채 상태를 유지하고, 이번 분기 운영으로 $35백만의 현금을 생성했습니다. 주주 반환에는 150만 주식을 재매입하여 $9.3백만과 특별 배당금 지급이 포함되었습니다.
주목할 만한 점은 국제 수익이 3% 증가한 것입니다. 그러나 제품 수익은 10% 감소하였고, 90일간의 활성 사용자 수는 전년 대비 3% 감소하였습니다.
Cricut (NASDAQ: CRCT) a publié ses résultats financiers du T2 2024, montrant un mélange de croissance et de déclins. Les revenus du T2 ont été de 167,9 millions $, une baisse de 6% par rapport à l'année précédente. Cependant, les revenus des machines connectées ont augmenté de 18% et le revenu net a augmenté de 23% pour atteindre 19,8 millions $. L'entreprise a également affiché une marge brute de 53,5% et un revenu d'exploitation de 26,4 millions $.
Les indicateurs clés comprennent une augmentation de 3% des abonnés payants, atteignant plus de 2,8 millions, et une augmentation de 5% de l'ARPU de la plateforme, s'élevant à 52,61 $. Cricut reste sans dette avec 299 millions $ en liquidités et a généré 35 millions $ en liquidités provenant des opérations ce trimestre. Les retours pour les actionnaires ont inclus 9,3 millions $ pour le rachat de 1,5 million d'actions et un paiement de dividende exceptionnel.
À noter, l'augmentation des revenus internationaux de 3%. Cependant, les revenus des produits ont chuté de 10%, et le nombre d'utilisateurs engagés sur 90 jours a diminué de 3% par rapport à l'année précédente.
Cricut (NASDAQ: CRCT) hat seine Finanzzahlen für das 2. Quartal 2024 veröffentlicht und zeigt eine Mischung aus Wachstum und Rückgang. Die Einnahmen im 2. Quartal betrugen 167,9 Millionen USD, was einem Rückgang von 6% im Vergleich zum Vorjahr entspricht. Die Einnahmen aus verbundenen Maschinen sind jedoch um 18% gestiegen und der Nettogewinn hat sich um 23% auf 19,8 Millionen USD erhöht. Das Unternehmen wies außerdem eine Bruttomarge von 53,5% und ein Betriebsergebnis von 26,4 Millionen USD aus.
Wichtige Kennzahlen umfassen einen 3% Anstieg der zahlenden Abonnenten auf über 2,8 Millionen sowie einen 5% Anstieg des ARPU der Plattform auf 52,61 USD. Cricut ist schuldenfrei mit 299 Millionen USD in Bar und hat in diesem Quartal 35 Millionen USD aus dem operativen Geschäft generiert. Die Rückflüsse an die Aktionäre beinhalteten 9,3 Millionen USD für die Rückkauf von 1,5 Millionen Aktien und eine Sonderdividende.
Bemerkenswert ist der Anstieg der internationalen Einnahmen um 3%. Allerdings sanken die Produkteinnahmen um 10%, und im Vergleich zum Vorjahr sank die Zahl der 90-tägigen aktiven Nutzer um 3%.
- Net income increased by 23% to $19.8 million.
- Connected machines revenue grew by 18% YoY.
- Gross margin improved to 53.5% from 49.3% YoY.
- Operating income rose to $26.4 million or 15.7% of total revenue.
- Cash flow from operations reached $35 million.
- Paid subscribers grew 3% to over 2.8 million.
- Platform ARPU increased by 5% to $52.61.
- Debt-free with $299 million in cash and cash equivalents.
- Repurchased $9.3 million worth of shares.
- Total revenue decreased by 6% YoY to $167.9 million.
- Product revenue fell by 10% YoY.
- 90-day engaged users decreased by 3% YoY.
Insights
Cricut's Q2 2024 results show a mixed performance. While revenue declined
The company's focus on profitability is evident, with operating margin improving from
However, the slow growth in paid subscribers (
Cricut's Q2 results reveal interesting market dynamics. The
The
The slight increase in Active Users to over 5.9 million, coupled with a
The
Paid subscribers over 2.8 million, up
Connected machines revenue growth of
Q2 2024 revenue of
Delivered 22nd consecutive quarter of profitability with net income of
SOUTH JORDAN, Utah, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Cricut, Inc. (“Cricut”) (NASDAQ: CRCT), the creative technology company that has brought a connected platform for making to millions of users worldwide, today announced financial results for its second quarter ended June 30, 2024.
"We are pleased with strong Q2 profitability and
Second Quarter 2024 Financial Results
- Revenue was
$167.9 million , down6% from Q2 2023. - Platform revenue was
$77.6 million , slightly up over Q2 2023. - Products revenue was
$90.3 million , down10% from Q2 2023. - International revenue increased by
3% over Q2 2023 and was20% of total revenue, up from18% of total revenue in Q2 2023. - Gross margin was
53.5% , up from49.3% in Q2 2023. - Operating income was
$26.4 million , or15.7% of total revenue compared to$19.3 million , or10.8% of revenue in Q2 2023. - Net income was
$19.8 million , or11.8% of revenue, and up23% from Q2 2023. Net income in Q2 2023 was$16.0 million , or9.0% of revenue. - Diluted earnings per share was
$0.09 , up from$0.07 per share in Q2 2023. - Generated
$35 million in Cash from Operations in Q2. Used$9.3 million to repurchase 1.5 million shares of our common stock in Q2.
“We delivered our 22nd consecutive quarter of positive net income and continue to generate healthy cash flow. In Q2 2024, we generated
Recent Business Highlights
- Paid Subscribers increased to over 2.8 million, up
3% year over year. - Platform ARPU increased to
$52.61 , up5% year over year. - Active Users increased slightly year over year to over 5.9 million.
- 90-Day Engaged Users decreased
3% year over year to over 3.5 million.
Key Performance Metrics
In addition to the measures presented in our condensed consolidated financial statements, we use the following key business metrics to help us evaluate our business, identify trends affecting our business, formulate business plans and make strategic decisions. We believe these metrics are useful to investors because they can help in monitoring the long-term health of our business. Our determination and presentation of these metrics may differ from that of other companies. The presentation of these metrics is meant to be considered in addition to, not as a substitute for or in isolation from, our financial measures prepared in accordance with GAAP.
As of June 30, | ||||
2024 | 2023 | |||
Active Users (in thousands) | 5,918 | 5,912 | ||
90-Day Engaged Users (in thousands) | 3,541 | 3,652 | ||
Paid Subscribers (in thousands) | 2,813 | 2,722 |
Three Months Ended June 30, | |||||
2024 | 2023 | ||||
Platform ARPU | $ | 52.61 | $ | 50.13 |
Glossary of Terms
Active Users
We define Active Users as registered users of at least one registered connected machine who have utilized their connected machine to create a project in the last 365 days. One user may own multiple registered connected machines but is only counted once if that user registers those connected machines by using the same email address. If possession of a connected machine is transferred to a new owner and registered by that new owner, the new owner is added to the total Active Users and the prior owner is removed from the total Active Users if the prior owner does not own any other registered connected machines. Active Users is a key indicator of the health of our business, because changes in the number of Active Users excludes non-users to better represent opportunities for us to drive additional platform and accessories and materials revenue.
90-Day Engaged Users
We define 90-Day Engaged Users as registered users of at least one registered connected machine who have utilized their connected machine to create a project in the last 90 days. One user may own multiple registered connected machines but is only counted once if that user registers those connected machines by using the same email address. If possession of a connected machine is transferred to a new owner and registered by that new owner, the new owner is added to the total 90-Day Engaged Users and the prior owner is removed from the total 90-Day Engaged Users if the prior owner does not own any other registered connected machines. 90-Day Engaged Users excludes non-users to better represent opportunities for us to drive additional platform and accessories and materials revenue.
Paid Subscribers
We define Paid Subscribers as the number of users with a subscription to Cricut Access or Cricut Access Premium, excluding cancelled, unpaid or free trial subscriptions, as of the end of a period. Paid Subscribers is a key metric to track growth in our Platform revenue and potential leverage in our gross margin.
Platform ARPU
We define Platform ARPU as Platform in a 12-month period revenue divided by Active Users. Platform ARPU allows us to forecast Platform revenue over time and is an indicator of our ability to expand with users and of user engagement with our subscription offerings.
Webcast and Conference Call Information
Cricut management will host a conference call and webcast to discuss the results today, Tuesday, August 6, 2024 at 3:00 p.m. Mountain Time (5:00 p.m. Eastern Time). Information about Cricut’s financial results, including a link to the live and archived webcast of the conference call, will be made available on Cricut’s investor relations website at https://investor.cricut.com/.
The live call may also be accessed via telephone. Please pre-register using this link: https://register.vevent.com/register/BI6d47744d9f23418aaa936b2b006064fd. After registering, a confirmation will be sent via email and will include dial-in details and a unique PIN code for entry to the call. To avoid long wait times, we suggest registering at minimum 15 minutes before the start of the call to receive your unique PIN code.
About Cricut, Inc.
Cricut, Inc. is a creative technology company that helps people lead creative lives. Cricut hardware and design software work together as a connected platform for consumers to make beautiful, high-quality DIY projects quickly and easily. These industry-leading products include a flagship line of smart cutting machines — the Cricut Maker® series, the Cricut Explore® series, Cricut Joy™ series, and Cricut Venture™ — accompanied by other unique tools like Cricut EasyPress®, the Infusible Ink™ system, and a diverse collection of materials. In addition to providing tools and materials, Cricut fosters a thriving community of millions of dedicated users worldwide.
Cricut has used, and intends to continue using, its investor relations website and the Cricut News Blog (https://cricut.com/blog/news/) to disclose material non-public information and to comply with its disclosure obligations under Regulation FD. Accordingly, you should monitor our investor relations website and the Cricut News Blog in addition to following our press releases, SEC filings and public conference calls and webcasts.
Media Contact:
Caitlin Hadley
pr@cricut.com
Investor Contact:
Jim Suva
investors@cricut.com
Source: Cricut, Inc.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 as amended (the “Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). These statements include, but are not limited to, quotations from management, business outlook, strategies, capital allocation plans, market size and growth opportunities. Forward-looking statements generally can be identified by the fact that they do not relate strictly to historical or current facts and by the use of forward-looking words such as “anticipates,” “believes,” “targets,” “potential,” “estimates,” “expects,” “intends,” “plans,” “projects,” “may,” “will” or similar terminology. In particular, statements, express or implied, concerning future actions, conditions or events, future results of operations or the ability to generate revenues, income or cash flow are forward-looking statements. These statements are based on and reflect our current expectations, estimates, assumptions and/ or projections and our perception of historical trends and current conditions, as well as other factors that we believe are appropriate and reasonable under the circumstances. Forward-looking statements are neither predictions nor guarantees of future events, circumstances or performance and are inherently subject to known and unknown risks, uncertainties and assumptions, many of which are beyond our control, that could cause our actual results to differ materially from those indicated by those statements. There can be no assurance that our expectations, estimates, assumptions and/or projections will prove to be correct or that any of our expectations, estimates or projections will be achieved. The forward-looking statements included in this press release are only made as of the date indicated on the relevant materials and are based on our estimates and opinions at the time the statements are made. We disclaim any obligation to publicly update any forward-looking statement to reflect subsequent events or circumstances or changes in opinion, except as required by law.
Numerous factors could cause our actual results and events to differ materially from those expressed or implied by forward-looking statements including, but not limited to, risks and uncertainties associated with: our ability to attract and engage with our users; competitive risks; supply chain, manufacturing, distribution and fulfillment risks; international risks, including regulation and tariffs that have materially increased our costs and the potential for further trade barriers or disruptions; sales and marketing risks, including our dependence on sales to brick-and-mortar and online retail partners and our need to continue to grow online sales; risks relating to the complexity of our business, which includes connected machines, custom tools, hundreds of materials, design apps, e-commerce software, subscriptions, content, international production, direct sales and retail distribution; risks related to product quality, safety and warranty claims and returns; risks related to the fluctuation of our quarterly results of operations and other operating metrics; risks related to intellectual property, cybersecurity and potential data breaches; risks related to our dependence on our Chief Executive Officer; risks related to our status as a “controlled company”; and the impact of economic and geopolitical events, natural disasters and actual or threatened public health emergencies, current recessionary pressures and any resulting economic slowdown from any of these events, or other resulting interruption to our operations. These risks and uncertainties are described in greater detail, or are incorporated by reference, under the heading “Risk Factors” in the most recent form 10-Q that we have filed with the Securities and Exchange Commission (“SEC”).
Cricut, Inc. Condensed Consolidated Statements of Operations and Comprehensive Income (unaudited) (in thousands, except share and per share amounts) | |||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
2024 | 2023 | 2024 | 2023 | ||||||||||||
Revenue: | |||||||||||||||
Platform | $ | 77,649 | $ | 77,386 | $ | 155,935 | $ | 153,627 | |||||||
Products | 90,298 | 100,379 | 179,404 | 205,365 | |||||||||||
Total revenue | 167,947 | 177,765 | 335,339 | 358,992 | |||||||||||
Cost of revenue: | |||||||||||||||
Platform | 8,888 | 8,008 | 17,647 | 15,769 | |||||||||||
Products | 69,219 | 82,102 | 136,258 | 178,902 | |||||||||||
Total cost of revenue | 78,107 | 90,110 | 153,905 | 194,671 | |||||||||||
Gross profit | 89,840 | 87,655 | 181,434 | 164,321 | |||||||||||
Operating expenses: | |||||||||||||||
Research and development | 14,315 | 16,346 | 29,168 | 34,147 | |||||||||||
Sales and marketing | 33,354 | 29,407 | 66,384 | 59,023 | |||||||||||
General and administrative | 15,739 | 22,652 | 34,245 | 41,372 | |||||||||||
Total operating expenses | 63,408 | 68,405 | 129,797 | 134,542 | |||||||||||
Income from operations | 26,432 | 19,250 | 51,637 | 29,779 | |||||||||||
Other income (expense): | |||||||||||||||
Interest income | 3,053 | 3,118 | 5,471 | 4,871 | |||||||||||
Interest expense | (80 | ) | (80 | ) | (161 | ) | (159 | ) | |||||||
Other income | 387 | 653 | 1,135 | 1,294 | |||||||||||
Total other income, net | 3,360 | 3,691 | 6,445 | 6,006 | |||||||||||
Income before provision for income taxes | 29,792 | 22,941 | 58,082 | 35,785 | |||||||||||
Provision for income taxes | 10,023 | 6,917 | 18,666 | 10,662 | |||||||||||
Net income | $ | 19,769 | $ | 16,024 | $ | 39,416 | $ | 25,123 | |||||||
Other comprehensive income (loss): | |||||||||||||||
Change in net unrealized gains (losses) on marketable securities, net of tax | $ | 242 | $ | (318 | ) | $ | (46 | ) | $ | (130 | ) | ||||
Change in foreign currency translation adjustment, net of tax | (1 | ) | (50 | ) | (89 | ) | (32 | ) | |||||||
Comprehensive income | $ | 20,010 | $ | 15,656 | $ | 39,281 | $ | 24,961 | |||||||
Earnings per share, basic | $ | 0.09 | $ | 0.07 | $ | 0.18 | $ | 0.12 | |||||||
Earnings per share, diluted | $ | 0.09 | $ | 0.07 | $ | 0.18 | $ | 0.11 | |||||||
Weighted-average common shares outstanding, basic | 216,422,513 | 216,963,697 | 215,986,713 | 216,236,887 | |||||||||||
Weighted-average common shares outstanding, diluted | 217,501,646 | 219,915,839 | 217,390,891 | 219,597,977 | |||||||||||
Cricut, Inc. Condensed Consolidated Balance Sheets (in thousands, except share and per share amounts) | |||||||
As of June 30, 2024 | As of December 31, 2023 | ||||||
(unaudited) | |||||||
Assets | |||||||
Current assets: | |||||||
Cash and cash equivalents | $ | 195,552 | $ | 142,187 | |||
Marketable securities | 103,907 | 102,952 | |||||
Accounts receivable, net | 83,752 | 111,247 | |||||
Inventories | 192,340 | 244,469 | |||||
Prepaid expenses and other current assets | 35,600 | 19,114 | |||||
Total current assets | 611,151 | 619,969 | |||||
Property and equipment, net | 42,074 | 47,614 | |||||
Operating lease right-of-use asset | 10,286 | 12,353 | |||||
Deferred tax assets | 44,322 | 34,823 | |||||
Other assets | 34,278 | 35,363 | |||||
Total assets | $ | 742,111 | $ | 750,122 | |||
Liabilities and Stockholders’ Equity | |||||||
Current liabilities: | |||||||
Accounts payable | $ | 33,974 | $ | 76,860 | |||
Accrued expenses and other current liabilities | 70,492 | 71,933 | |||||
Deferred revenue, current portion | 44,530 | 40,304 | |||||
Operating lease liabilities, current portion | 4,964 | 5,230 | |||||
Dividends payable, current portion | 122,302 | 2,137 | |||||
Total current liabilities | 276,262 | 196,464 | |||||
Operating lease liabilities, net of current portion | 6,862 | 8,938 | |||||
Deferred revenue, net of current portion | 2,595 | 2,931 | |||||
Other non-current liabilities | 7,848 | 6,916 | |||||
Total liabilities | 293,567 | 215,249 | |||||
Commitments and contingencies | |||||||
Stockholders’ equity: | |||||||
Preferred stock, par value | — | — | |||||
Common stock, par value | 216 | 218 | |||||
Additional paid-in capital | 448,186 | 505,864 | |||||
Retained earnings | — | 28,514 | |||||
Accumulated other comprehensive income (loss) | 142 | 277 | |||||
Total stockholders’ equity | 448,544 | 534,873 | |||||
Total liabilities and stockholders’ equity | $ | 742,111 | $ | 750,122 |
Cricut, Inc. Condensed Consolidated Statements of Cash Flows (unaudited) (in thousands) | |||||||
Six Months Ended June 30, | |||||||
2024 | 2023 | ||||||
Cash flows from operating activities: | |||||||
Net income | $ | 39,416 | $ | 25,123 | |||
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities: | |||||||
Depreciation and amortization (including amortization of debt issuance costs) | 15,094 | 14,378 | |||||
Bad debt expense (benefit) | (454 | ) | 6,563 | ||||
Impairments | — | 1,959 | |||||
Stock-based compensation | 21,376 | 22,307 | |||||
Deferred income tax | (9,484 | ) | (7,447 | ) | |||
Non-cash lease expense | 2,539 | 2,478 | |||||
Unrealized foreign currency (gain) loss | 589 | 599 | |||||
Provision for inventory obsolescence | (3,028 | ) | 10,280 | ||||
Other | (1,040 | ) | (1,290 | ) | |||
Changes in operating assets and liabilities: | |||||||
Accounts receivable | 27,320 | 40,665 | |||||
Inventories | 56,928 | 50,356 | |||||
Prepaid expenses and other current assets | (16,492 | ) | 5,286 | ||||
Other assets | (122 | ) | (523 | ) | |||
Accounts payable | (42,060 | ) | 4,277 | ||||
Accrued expenses and other current liabilities and other non-current liabilities | (25 | ) | (16,457 | ) | |||
Operating lease liabilities | (2,799 | ) | (2,702 | ) | |||
Deferred revenue | 3,890 | 3,760 | |||||
Net cash and cash equivalents provided by operating activities | 91,648 | 159,612 | |||||
Cash flows from investing activities: | |||||||
Purchase of marketable securities | (25,442 | ) | — | ||||
Proceeds from maturities of marketable securities | 25,440 | — | |||||
Purchases of property and equipment, including capitalized software development costs | (9,963 | ) | (12,825 | ) | |||
Net cash and cash equivalents used in investing activities | (9,965 | ) | (12,825 | ) | |||
Cash flows from financing activities: | |||||||
Repurchase of common stock | (20,103 | ) | (4,210 | ) | |||
Proceeds from exercise of stock options | — | 208 | |||||
Employee tax withholding payments on stock-based awards | (6,541 | ) | (5,799 | ) | |||
Cash dividend | (1,547 | ) | (75,808 | ) | |||
Net cash and cash equivalents used in financing activities | (28,191 | ) | (85,609 | ) | |||
Effect of exchange rate on changes on cash and cash equivalents | (127 | ) | — | ||||
Net increase in cash and cash equivalents | 53,365 | 61,178 | |||||
Cash and cash equivalents at beginning of period | 142,187 | 224,943 | |||||
Cash and cash equivalents at end of period | $ | 195,552 | $ | 286,121 | |||
Supplemental disclosures of cash flow information: | |||||||
Cash paid during the period for interest | $ | — | $ | — | |||
Cash paid during the period for income taxes | $ | 30,389 | $ | 12,086 | |||
Supplemental disclosures of non-cash investing and financing activities: | |||||||
Right-of-use assets obtained in exchange for new operating lease liabilities | $ | 477 | $ | — | |||
Property and equipment included in accounts payable and accrued expenses and other current liabilities | $ | 1,545 | $ | 2,447 | |||
Tax withholdings on stock-based awards included in accrued expenses and other current liabilities | $ | 659 | $ | 483 | |||
Stock-based compensation capitalized for software development costs | $ | 695 | $ | 975 | |||
Dividend declared but unpaid | $ | 122,332 | $ | 234,625 |
FAQ
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