Sales up 63.9%, free cash flow up to $529.7M
The latest figures
All key numbers (32) From EDGAR
| EPS (ttm) | 2.32 | Sales (ttm) | 3.0B | Net income (ttm) | 462.9M | Sales growth | +63.9% | EPS growth | -247% | Sales Q/Q | +16.9% |
| Free cash flow | 740.7M | Gross margin | - | Oper. margin | 11.3% | Net margin | 15.3% | FCF margin | 24.4% | ROE | 12.0% |
| ROA | 0.6% | R&D / sales | - | Dividend | - | Debt/Eq | - | Curr. ratio | 1.04 | Cash | 1.7B |
| Op. cash flow (ttm) | 772.1M | EBITDA | -19.8M | EBITDA margin | -0.7% | Quick ratio | 1.04 | Interest cover | -78.66 | Stock pay / sales | 20.6% |
| Shares out. | 267.8M | Book / share | 14.42 | Cash / share | 6.35 | Sales / share | 11.32 | Asset turnover | 0.04 | Days sales out. | 8 |
| Employees | 1,100 | Sales / employee | 2.8M |
Hover or tap a number to see the XBRL line item and filing it comes from; click it to open that filing at SEC. What each number means. Looks wrong? Tell us.
Changes in the numbers
FY2025 against FY2024-
Free cash flow rose 62%$326.4M → $529.7M · Cash from operations − capital expenditure · 10-K ↗
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Revenue growth sped up to +63.9%+15.6% → +63.9% · Revenue FY2025 / revenue FY2024 − 1, against the same a year earlier · 10-K ↗
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Operating margin narrowed to -3.5%10.0% → -3.5% · Operating income / revenue · 10-K ↗
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Net income turned to a loss$155.7M → −$69.5M · Net income attributable to the company · 10-K ↗
CRCL against Crypto peers
Ten years, side by side → · All 32 →Each side 0 to 100, ranked against every company we cover: relative position on reported figures, not a buy score. How
Every dot is one of the 32 companies, the better end on the right. Hover a dot for the company.
| Company | Revenue (ttm) | Sales growth | Gross margin | Net margin | ROE | FCF margin | Debt / equity |
|---|---|---|---|---|---|---|---|
| CRCL Circle Internet Group | $3.0B | +63.9% | - | 15.3% | 12.0% | 24.4% | - |
| GME GameStop | $3.6B | -5.1% | 37.9% | 25.2% | 14.5% | 19.4% | 0.68 |
| BKKT Bakkt | $2.3B | -32.1% | - | -0.1% | -0.5% | - | - |
| MARA MARA Holdings | $716.0M | +38.2% | - | -411.2% | -125.1% | -170.1% | 1.28 |
| FIGR Figure Technology Solutions | $708.9M | +48.7% | - | 33.5% | 16.8% | - | 0.68 |
| CLSK CleanSpark | $679.2M | +102% | 55.2% | -146.9% | -131.1% | -91.3% | 2.34 |
Profitability
1 of 3- ✓Net margin above the peer median15.3% vs -169.8%
- !Return on equity below 15%12.0%
- !A profit in 2 of 3 years
Each tick is a fact with a fixed rule (on /methodology), not a score or advice. A check without the numbers it needs is left out.
Revenue and net income, FY2023 to FY2025
Revenue 2.7B Net income -69.5MFrom XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →
Income statement, balance sheet and cash flow
CRCL's income statement, balance sheet and cash flow as reported to the SEC in XBRL, one column per fiscal year. Hover a number to see the line item and filing it comes from. Where a company changed how it tags a line, the first tag it reported for that period is used. A number looks wrong? Tell us.
Revenue by product or service
year to Dec 31, 2025| Revenue | Share | vs year before | |
|---|---|---|---|
| Subscription and services | 84.8M | 3.1% | +1300% |
| Transaction revenue | 24.3M | 0.9% | +753% |
| Other | 702K | 0.0% | -88.8% |
10-K 0001876042-26-000062, segment and revenue notes (XBRL).
Income statement
From EDGAR| FY2023 | FY2024 | FY2025 | |
|---|---|---|---|
| Revenue | 1.5B | 1.7B | 2.7B |
| SG&A | 100.1M | 137.3M | 190.3M |
| Operating income | 269.5M | 167.2M | -96.4M |
| Interest expense | 1.9M | 1.9M | 1.2M |
| Pretax income | 318.9M | 221.6M | -102.9M |
| Income tax | 47.4M | 64.6M | -33.4M |
| Net income | 267.6M | 155.7M | -69.5M |
| EPS (diluted) | 0.78 | 0.30 | -0.44 |
| Diluted shares | 67.5M | 73.0M | 158.7M |
| Depreciation & amortization | 34.9M | 50.9M | 76.6M |
| EBITDA | 304.4M | 218.0M | -19.8M |
| Operating margin | 18.6% | 10.0% | -3.5% |
| Net margin | 18.4% | 9.3% | -2.5% |
| Revenue growth | - | +15.6% | +63.9% |
| EPS growth | - | -61.5% | -247% |
Balance sheet
From EDGARCash flow
From EDGARStock-based pay and leases
From EDGARFrom SEC's XBRL company facts (data.sec.gov). EBITDA = operating income + depreciation and amortization; free cash flow = operating cash flow - capital spending; total debt = long-term debt (with its current part) + short-term borrowings. Stock-based pay and leases are shown as the company reports them; Tickdelta does not take them out of earnings or add leases to debt. Click a number to open the filing in SEC's Inline XBRL viewer, where you can click the same number to see how it is tagged. Values a company later revised show as revised; the Revised numbers tab lists the changes.