Cricut, Inc. Reports Solid Profit Amid Revenue Decline

Cricut, Inc. ( (CRCT) ) has released its Q4 earnings. Here is a breakdown of the information Cricut, Inc. presented to its investors.

Cricut, Inc. is a creative technology company that provides a connected platform for DIY projects, offering smart cutting machines and design software to a global community of users. The company recently announced its financial results for the fourth quarter and full year of 2024, marking its eighth consecutive year of profitability with a net income of $62.8 million. Despite a 7% decline in annual revenue to $712.5 million, Cricut saw a 17% increase in net income and generated $265 million in cash from operations. Key highlights from the report include a 7% increase in paid subscribers to 2.96 million and a 2% growth in platform revenue for the fourth quarter. However, product revenue saw a decline of 15% in the same period. The company also improved its gross margin to 49.5% for the year. Cricut’s management remains optimistic about future growth, citing recent product launches and ongoing investments as potential catalysts for an inflection point in the second half of 2025.