Cricut Q1 revenue, net income down

Cricut

05/05/2026 21:51

Overview

Creative technology platform's Q1 revenue fell 2% yr/yr; net income down 15%

Platform revenue rose nearly 6%, offset by 10% decline in product revenue

Company repurchased 2.8 mln shares and declared $0.10 semiannual dividend

Outlook

Company did not provide specific guidance for future quarters or full-year results

Result Drivers

PLATFORM REVENUE GROWTH - Co said platform revenue rose nearly 6% yr/yr, driven by a 3% increase in paid subscribers, 5% higher platform ARPU, and 1% growth in active users

INTERNATIONAL EXPANSION - International revenue increased over 16% yr/yr and made up a larger share of total revenue

PRODUCT REVENUE DECLINE - Product revenue fell nearly 10% yr/yr

Company press release: ID:nGNX5WzMLc

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Slight Miss*
$159.47 mln
$160.46 mln (2 Analysts)
Q1 Net Income
$20.32 mln
Q1 Basic EPS
$0.10
Q1 Gross Profit
$92.70 mln
Q1 Income From Operations
$22.89 mln
Q1 Pretax Profit
$25.09 mln


*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "sell" and the breakdown of recommendations is no "strong buy" or "buy", no "hold" and 3 "sell" or "strong sell"

The average consensus recommendation for the integrated hardware & software peer group is "hold"

Wall Street's median 12-month price target for Cricut Inc is $3.25, about 21.9% below its May 4 closing price of $4.16

The stock recently traded at 30 times the next 12-month earnings vs. a P/E of 26 three months ago

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.)