Circle Internet Group, Inc. CRCL
Our mission is to raise global economic prosperity through the frictionless exchange of value.
We were founded in 2013 on the belief that we could connect the world more deeply by building a new global economic system on the foundation of the internet, and facilitate the creation of a world where everyone, everywhere can share value as easily as we can today share information, content, and communications.
Financial services are undergoing a transition analogous to the internet's evolution from closed networks to open, standardized infrastructure that enabled new applications, business models, and network effects. While the incumbent financial system has enabled substantial global economic activity and societal advancement, it remains constrained by legacy infrastructure and fragmented, intermediated networks that pass on excessive cost, slow settlement, limit interoperability, and create barriers to access. At the same time, these constraints create a significant opportunity to modernize how value moves — unlocking faster settlement, lower costs, greater interoperability, and broader access at internet scale. We believe digital assets, public blockchain networks, and related applications and services can address these constraints and seize the opportunity available by enabling the secure, efficient storage and transfer of value on the internet that is scalable and accessible.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Revenue | $109.8M | $15.2M | $19.9M | — |
| SG&A | $190.3M | $137.3M | $100.1M | — |
| Total operating expenses | $1.18B | $491.7M | $453.2M | — |
| Operating income | -$96.4M | $167.2M | $269.5M | — |
| Interest expense | $1.2M | $1.9M | $1.9M | — |
| Pre-tax income | -$102.9M | $221.6M | $318.9M | — |
| Income tax | $33.4M | $64.6M | $47.4M | — |
| Net income | -$69.5M | $155.7M | $267.6M | — |
| EPS, basic | -0.44 | 0.33 | 0.95 | — |
| EPS, diluted | -0.44 | 0.30 | 0.78 | — |
| Shares, diluted (wtd. avg.) | 158.7M | 73.0M | 67.5M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Cash and equivalents | $1.53B | $751.0M | $368.6M | $36.67B |
| Receivables | $62.9M | $6.4M | — | — |
| Total current assets | $77.80B | $45.16B | — | — |
| Property, plant and equipment | $22.8M | $18.7M | — | — |
| Goodwill | $265.7M | $169.5M | $169.5M | — |
| Other intangibles | $411.1M | $331.4M | — | — |
| Total assets | $78.71B | $45.83B | — | — |
| Accounts payable | $360.6M | $287.0M | — | — |
| Total current liabilities | $75.33B | $44.03B | — | — |
| Total liabilities | $75.38B | $44.12B | — | — |
| Retained earnings | -$1.29B | -$1.22B | — | — |
| Total equity | $3.33B | $570.5M | $339.5M | -$252.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Operating cash flow | $542.1M | $344.6M | $139.6M | — |
| Depreciation and amortisation | $76.6M | $50.9M | $34.9M | — |
| Stock-based compensation | $566.2M | $50.1M | $108.0M | — |
| Capital expenditure | $12.4M | $18.1M | $654.0K | — |
| Investing cash flow | -$84.0M | $186.3M | $8.51B | — |
| Financing cash flow | $31.94B | $19.45B | -$20.33B | — |
| Buybacks | $0 | $0 | $8.7M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001876042-26-000228.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| Revenue | — | $19.9M | $15.2M | $109.8M |
| Gross profit | — | — | — | — |
| Net income | — | $267.6M | $155.7M | -$69.5M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Other event Item 8.01
- Officer or director change Item 5.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Results announced Item 2.02
- Officer or director change Item 5.02
- Results announced Item 2.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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