CRCLCircle Internet Group
Our mission is to raise global economic prosperity through the frictionless exchange of value. 10-K, Item 1
- Employees
- 1,100
- Headquarters
- New York, NY
- CEO
- Jeremy Allaire
- Next results
- around Feb 24, 2027
The biggest changes in the 10-K filed 2026-03-09, this fiscal year against the last, and the sentences in the MD&A (Item 7) where management explains them, quoted word for word. Tickdelta picks sentences that name the line, a direction and a cause. It does not write explanations of its own.
Operating margin
1102.0% → -87.8% (-1189.8 pts) Big change FY to 2025-12-31 vs 2024-12-31The MD&A has no sentence that names a cause for this change. That can be worth a question: ask about the filing.
Revenue
+624.0% Big change FY to 2025-12-31 vs 2024-12-31“Other revenue increased by $94.7 million or 624.0% for the year ended December 31, 2025, compared to the year ended December 31, 2024, due to a $99.1 million increase driven by additional integration services performed, blockchain rewards revenue, redemption fees related to our Circle stablecoins and Circle Tokenized Funds, and fund management fees, offset by a $6.0 million decrease in other fees generated from other legacy products.”
Read it in the 10-K ↗
Net income
-144.7% Big change FY to 2025-12-31 vs 2024-12-31“Other income (expense), net changed by $60.9 million or 111.9% for the year ended December 31, 2025, compared to the year ended December 31, 2024, largely driven by a $87.2 million loss as a combined result of the increase in the fair value of our convertible notes due to an increase in the price of our Class A common stock, and the conversion of certain convertible notes into Class A common stock in the fourth quarter of 2025.”
Read it in the 10-K ↗
Cash from operations
+57.3% Big change FY to 2025-12-31 vs 2024-12-31“Net cash provided by operating activities was $542.1 million for the year ended December 31, 2025 compared to net cash provided by operating activities of $344.6 million for the year ended December 31, 2024, driven primarily by a $933.9 million increase in cash receipts from reserve income attributable to increased average reserve deposits relating to increased average USDC in circulation balances, offset by a $425.6 million increase in payment of distribution and transaction costs.”
Read it in the 10-K ↗
Changes are computed from the XBRL figures in the same 10-K. Hover a number to see the line item. Open the 10-K ↗
Work on CRCL in a spreadsheet:
Excel workbook (a sheet per section, ten years by column, charts, links to the filings) ·
CSV.
For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/CRCL/export.csv") into a cell.