Earnings

Cricut Restores Revenue Growth After Two Down Quarters

The Tip Desk · November 10, 2026 · 3 min read

Third-quarter sales reached $188.6 million as Products recovered and the board added a $0.70 special dividend.

Cricut, Inc. (CRCT), the creative technology company, reported third-quarter revenue of $188.6 million, up 11% from a year earlier, reversing a 9% year-over-year decline in the second quarter and a 2% decline in the first.

Products was the inflection. Sales of machines, tools and materials were $102.7 million, up 17% from the year-ago quarter, after a 22.0% year-over-year drop in the second quarter and a 9.6% drop in the first. Chief Executive Officer Ashish Arora said the quarter was driven by that 17% Products increase and continued growth in Platform, and cited double-digit sell-out growth for a second consecutive quarter.

Platform revenue was $85.9 million, up nearly 4% from the year-ago quarter. International sales increased 30% from the year-ago quarter and were 28% of total revenue, up from 24% of total revenue in the third quarter of 2025.

Gross margin was 57.7%, up from 55.2% in the third quarter of 2025. Operating income was $33.9 million, or 18.0% of revenue, up 50% from $22.7 million, or 13.3% of revenue, a year earlier. Net income was $27.8 million, or 14.8% of revenue, up 36% from $20.5 million, or 12.0% of revenue, a year earlier. Diluted earnings were $0.13 a share, up from $0.10.

The company generated $24 million in cash from operations in the quarter. It used $6.5 million to repurchase 1,294,882 shares, leaving $15.1 million on a $50 million authorized program that the board had replenished in May 2025.

Paid subscribers were 3.07 million as of September 30, 2026, up 2% from a year earlier. Active users were 5,989 thousand, up 2% year-over-year. Ninety-day engaged users were 3,466 thousand, flat year-over-year. Platform ARPU for the twelve months ended September 30, 2026, was $56.70, up 3% from $54.88 a year earlier.

Arora said launches of Maker 5 and StickerPix were expanding the Cricut ecosystem. Chief Financial Officer Kimball Shill said the company ended the quarter with $273 million in “cash and cash equivalents.” The balance sheet showed cash and cash equivalents of $174.6 million and marketable securities of $98.1 million as of September 30, 2026.

The board approved a recurring semi-annual dividend of $0.10 a share and a special dividend of $0.70 a share to be paid in January 2027. It also replenished the stock-repurchase authorization up to $50 million, incorporating the unused portion from prior approvals. The board said it views that level of capital allocation as appropriate given the company’s operating and financial plans and will continue to evaluate it on a regular basis.

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