Stocks
ETFs
Options
Commodities
Crypto
Currency
Pro Newsletters
Research Tools
Daily Feeds
Calendars
Economic Indicators
Class Actions
Calculators
Education
About Us
Working with TipRanks
Follow Us
Cricut Inc (CRCT)
NASDAQ:CRCT
Holding CRCT?
Track your performance easily
Earnings Data
Report Date
Mar 11, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.04Last Year’s EPS
$0.05Same Quarter Last Year
Moderate Sell
Based on 3 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Nov 05, 2024
|% Change Since: -9.74%
|Next Earnings Date:Mar 11, 2025
Earnings Call Sentiment|Neutral
The earnings call presents a mixed picture with some strong areas such as subscriber growth, international sales, and cash flow, but also significant challenges including declining sales, engagement issues, and margin pressures. The company is focused on marketing and innovation to drive future growth.Company Guidance
In the third quarter of 2024, Cricut reported a 4% year-on-year decline in total sales to $167.9 million, with platform revenue seeing a slight increase to $77.7 million, driven by a 5% rise in paid subscribers. Product revenue fell by 7%, notably as connected machines dropped 11% due to planned promotions for the upcoming Q4 holiday season. Despite a decrease in active users to just under 5.9 million, the company saw a positive trend in onboarding new users, with a 50% improvement in initial machine connections. Gross margin for the quarter was 46.1%, and operating income declined 55% to $10.6 million, reflecting increased sales and marketing expenses. Cricut ended the quarter with over 2.8 million paid subscribers and a cash balance of $247 million. The company anticipates continued sales pressure in Q4 but expects a slight increase in platform revenue and operating margin improvements for the full year, aiming for long-term operating margin targets of 15% to 19%.Increase in Paid Subscribers
Paid subscribers grew by 5% year-on-year, exceeding expectations, and reflecting successful conversion strategies.
International Sales Growth
International sales increased by 2% year-on-year, benefiting from favorable foreign exchange rates and strategic market efforts.
Successful Marketing and Inventory Management
Positive impact of top and middle funnel marketing on machine sales, with healthy inventory levels heading into the holiday season.
AI-Driven Innovations
Introduction of AI-driven help assistant and improvements in onboarding, leading to better user engagement and project completion rates.
Cash Flow and Financial Health
Generated $70 million in cash from operations, maintaining a strong cash position of $247 million and remaining debt-free.
---
CRCT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
---
CRCT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 05, 2024 | $6.57 | $5.57 | -15.22% |
| Aug 06, 2024 | $5.85 | $6.31 | +7.86% |
| May 07, 2024 | $5.03 | $7.41 | +47.32% |
| Mar 05, 2024 | $4.39 | $4.25 | -3.19% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
---
FAQ
When does Cricut Inc (CRCT) report earnings?
Cricut Inc (CRCT) is schdueled to report earning on Mar 11, 2025, TBA Not Confirmed.
What is Cricut Inc (CRCT) earnings time?
Cricut Inc (CRCT) earnings time is at Mar 11, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CRCT EPS forecast?
CRCT EPS forecast for the fiscal quarter 2024 (Q4) is $0.04.
---