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    CRCL — Circle Internet News Story

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    Digital currency platform Circle's Q1 revenue rises 20%, misses estimates

    Picture of Circle Internet logoCircle Internet
    11/05/2026 11:35
    Overview

US digital currency platform's fiscal Q1 revenue grew 20% yr/yr, missing analyst expectations

Net income from continuing operations fell 15% yr/yr due to higher compensation and investments

Adjusted EBITDA for fiscal Q1 rose 24% yr/yr, driven by higher USDC in circulation

Outlook

Circle affirms FY26 other revenue guidance at $150-$170 mln

Company maintains FY26 revenue less distribution costs (RLDC) margin forecast at 38-40%

Circle expects FY26 adjusted operating expenses of $570-$585 mln

Result Drivers

USDC GROWTH - Higher average USDC in circulation drove reserve income growth, partially offset by a lower reserve return rate

OPERATING COSTS - Higher compensation costs from post-IPO stock-based compensation and increased investment in product, distribution, and infrastructure weighed on net income

OTHER REVENUE - Subscription, services, and transaction revenue contributed to growth in other revenue

Company press release: ID:nBwb9j6d4a

Key Details


    MetricBeat/MissActualConsensus Estimate
    Q1 Total Revenue and Reserve IncomeMiss$694 mln$722.39 mln (17 Analysts)
    Q1 EPS$0.21
    Q1 Net Income$55 mln
    Q1 Adjusted EBITDA$151 mln
    Q1 Adjusted EBITDA Margin53%
    

Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 11 "strong buy" or "buy", 12 "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 $120.00, about 5.6% above its May 8 closing price of $113.67

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.)

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