Circle Internet Group, Inc. (CRCL) Income Statement
CRCL 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsCRCL revenue and net income
Where CRCL's revenue goes
2025Each bar shows an amount and its share of revenue. CRCL kept −2.5% of revenue as net income.
CRCL profit margins
CRCL growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +63.9% | +52.7% | +181.9% | — |
| Gross profit | −39.8% | −1.6% | — | — |
| Operating income | −154.5% | — | — | — |
| Net income | −144.7% | — | — | — |
| EPS (diluted) | +31.5% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
CRCL quarterly EPS vs estimates
Circle Internet beat the analyst EPS estimate in 6 of the last 6 quarters. Next report: November 4, 2026 (estimate $0.40).
CRCL income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Revenue | $2.75B | $1.68B | $1.45B | $772.1M | $84.9M | $15.4M |
| Cost of revenue | $2.51B | $1.28B | $1.02B | $522.3M | $110.8M | $22.5M |
| Gross profit | $238.1M | $395.5M | $426.7M | $249.7M | −$25.9M | −$7.1M |
| Sales, general & admin | $216.0M | $154.6M | $136.7M | $161.1M | $44.8M | $14.3M |
| Total operating expenses | $329.3M | $228.3M | $157.2M | $287.9M | $60.2M | $23.8M |
| Operating income | −$91.1M | $167.2M | $269.5M | −$38.1M | −$86.1M | −$30.9M |
| Interest income | $47.7M | $34.7M | $29.3M | $8.6M | — | — |
| Interest expense | $1.2M | $1.9M | $1.9M | $2.7M | $4.8M | $3.4M |
| Income before taxes | −$102.9M | $221.6M | $318.9M | −$758.5M | −$503.9M | −$17.2M |
| Income taxes | −$33.4M | $64.6M | $47.4M | $3.3M | $4.9M | $115,000 |
| Net income | −$69.5M | $155.7M | $267.6M | −$768.8M | −$508.2M | $3.8M |
| EBITDA | −$25.0M | $274.3M | $355.7M | −$742.5M | −$495.1M | −$9.3M |
| EPS (diluted) | $2.80 | $2.13 | $3.93 | — | — | — |
| Gross margin | 8.7% | 23.6% | 29.4% | 32.3% | −30.5% | −46.0% |
| Operating margin | −3.3% | 10.0% | 18.6% | −4.9% | −101.4% | −200.1% |
| Net margin | −2.5% | 9.3% | 18.4% | −99.6% | −598.8% | 24.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $701.3M | $694.1M | $770.2M | $739.8M | $658.1M | $578.6M | $435.4M | $445.8M | $430.0M | $365.1M |
| Cost of revenue | $576.4M | $571.7M | $598.0M | $576.9M | $910.3M | $423.3M | $373.9M | $323.0M | $316.0M | $267.9M |
| Gross profit | $125.0M | $122.5M | $172.2M | $162.9M | −$252.3M | $155.3M | $61.4M | $122.8M | $114.0M | $97.2M |
| Sales, general & admin | $74.9M | $63.9M | $79.3M | $51.1M | $51.0M | $34.5M | $44.2M | $37.7M | $41.4M | $31.3M |
| Total operating expenses | $79.0M | $67.5M | $115.6M | $81.8M | $73.3M | $62.4M | $60.6M | $59.0M | $63.8M | $44.9M |
| Operating income | $45.9M | $55.0M | $56.6M | $81.0M | −$325.6M | $92.9M | $794,000 | $63.8M | $50.2M | $52.3M |
| Interest income | $14.5M | $13.7M | $16.3M | $13.5M | $10.0M | $8.0M | $8.6M | $9.3M | $8.5M | $8.4M |
| Interest expense | $64,000 | $38,000 | $193,000 | $354,000 | $344,000 | $335,000 | $357,000 | $548,000 | $504,000 | $497,000 |
| Income before taxes | $52.3M | $56.7M | $140.2M | $153.1M | −$486.0M | $89.8M | $10.4M | $86.2M | $52.2M | $72.9M |
| Income taxes | $4.1M | $1.4M | $6.8M | −$61.3M | −$3.9M | $25.0M | $5.9M | $15.2M | $19.2M | $24.2M |
| Net income | $48.2M | $55.3M | $133.4M | $214.4M | −$482.1M | $64.8M | $3.1M | $71.0M | $32.9M | $48.6M |
| EBITDA | $75.8M | $81.8M | $165.9M | $176.4M | −$471.4M | $104.1M | $24.2M | $99.8M | $65.3M | $85.0M |
| EPS (diluted) | $0.18 | $0.21 | $0.56 | $0.82 | $1.12 | $0.30 | — | — | — | — |
| Gross margin | 17.8% | 17.6% | 22.4% | 22.0% | −38.3% | 26.8% | 14.1% | 27.5% | 26.5% | 26.6% |
| Operating margin | 6.5% | 7.9% | 7.3% | 11.0% | −49.5% | 16.1% | 0.2% | 14.3% | 11.7% | 14.3% |
| Net margin | 6.9% | 8.0% | 17.3% | 29.0% | −73.3% | 11.2% | 0.7% | 15.9% | 7.7% | 13.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in CRCL's financial statements (latest annual report filed March 9, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
CRCL financial results
In fiscal year 2025 (ended December 31, 2025), Circle Internet reported revenue of $2.7 billion, up 63.9% from the year before. It had a net loss of $69.5 million, a net profit margin of −2.5%. Diluted earnings per share came to $2.80. Over five years revenue grew at an average rate of 181.9% a year.
See the CRCL stock overview for the latest quote and news, or the CRCL chart for price history and technical indicators.
CRCL income statement FAQ
What is Circle Internet's annual revenue?
Circle Internet reported total revenue of $2.7 billion for fiscal year 2025, which ended on December 31, 2025. That was up 63.9% from $1.7 billion the previous year.
Is Circle Internet profitable?
No. Circle Internet reported a net loss of $69.5 million in fiscal 2025, a net profit margin of −2.5%; its operating margin was −3.3%.
What is Circle Internet's gross margin?
Circle Internet's gross margin was 8.7% in fiscal 2025: for every $100 of revenue, Circle Internet kept $9 after the direct cost of its products and services.
How fast is Circle Internet growing?
Revenue grew 181.9% a year on average over the last five fiscal years, from $15.4 million to $2.7 billion.
What are Circle Internet's earnings per share?
Circle Internet earned $2.80 per diluted share in fiscal 2025, compared with $2.13 a year earlier.
When will Circle Internet report its next earnings?
Circle Internet is expected to report results for the quarter ending September 30, 2026 on November 4, 2026 before the market opens.
When does Circle Internet's fiscal year end?
Circle Internet's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 9, 2026.