Cricut Q2 revenue misses estimates as products sales fall

Cricut

04/08/2026 21:44

Overview
Creative technology firm's Q2 revenue fell 9% yr/yr; net income rose 59%
Diluted EPS for Q2 rose to $0.19 from $0.11 a year earlier
Company repurchased 1.7 mln shares for $7.5 mln in Q2

Outlook
Company did not provide specific financial guidance for future quarters or the full year

Result Drivers
PRODUCTS REVENUE DECLINE - A 22% drop in products revenue drove the overall revenue decrease, partly offset by platform revenue growth
PLATFORM GROWTH - Platform revenue grew over 5%, supported by higher paid subscribers and ARPU
GROSS MARGIN IMPROVEMENT - Higher gross margin contributed to increased net income

Company press release: ID:nGNXbFvXRN

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Miss
$156.29 mln
$163.28 mln (2 Analysts)
Q2 EPS
 
$0.19
 
Q2 Net Income
 
$39.05 mln
 
Q2 Basic EPS
 
$0.19
 
Q2 Gross Profit
 
$116.41 mln
 
Q2 Income From Operations
 
$47.42 mln
 
Q2 Pretax Profit
 
$50.31 mln
 

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 $3.75, about 21.7% below its August 3 closing price of $4.79
The stock recently traded at 25 times the next 12-month earnings vs. a P/E of 31 three months ago

Reuters Recommended Reads
Aug 4 - Spotify forecasts weak profit as user growth slows in North America, Europe
Aug 4 - Wayfair Q2 revenue slightly beats estimates on order growth
Aug 4 - Haverty Furniture Q2 sales rise, profit doubles

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.)