Circle Internet Group Q4 revenue beats on higher onchain transaction volume

Circle Internet

25/02/2026 11:33

Overview

Internet financial platform's Q4 revenue rose 77%, beating analyst expectations

Adjusted EBITDA in Q4 grew 412% yr/yr

USDC in circulation at year-end grew 72%

Outlook

Circle expects FY 2026 other revenue between $150 mln and $170 mln

Company projects FY 2026 RLDC margin between 38% and 40%

Circle anticipates FY 2026 adjusted operating expenses of $570 mln to $585 mln

Result Drivers

USDC GROWTH - USDC in circulation at year-end grew 72%, with onchain transaction volume up 247%

ARC TESTNET - Arc testnet launched with strong performance and over 166 million transactions since launch

CPN EXPANSION - Circle Payments Network expanded with 55 financial institutions enrolled and 74 under review

Company press release: ID:nBwbzG588a

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Total Revenue and Reserve Income
Beat
$770 mln
$739.45 mln (16 Analysts)
Q4 Adjusted EBITDA
$167 mln
Q4 Adjusted EBITDA Margin
54.00%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 13 "hold" and 2 "sell" or "strong sell"

The average consensus recommendation for the financial technology (fintech) peer group is "buy"

Wall Street's median 12-month price target for Circle Internet Group Inc is $104.00, about 69.5% above its February 24 closing price of $61.37

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)