Q2 2026 Cricut Inc Earnings Call Transcript

Aug 4, 2026 / 09:00 PM GMT

Release Date Price: €4.26 (+3.40%)

Transcript 10-Q8-K

Key Points

Positve

Cricut Inc (CRCT) saw double-digit cutting machine sell-out growth in Q2 2026, driven by the success of new Joy 2 and Explore 5 bundles and an earlier Prime Day.
Platform revenue grew 5% year-over-year to $85 million, with paid subscribers increasing by 93,000 to over 3.1 million, and ARPU rising 5% to $56.37.
Active users grew 1% year-over-year and remained flat sequentially, marking the first time this KPI has stabilized in the second quarter since 2022, with 90-day engaged users also stable.
The company generated strong profitability with Q2 net income of $39.1 million (25% of sales) and operating cash flow of $50.4 million, while remaining debt-free with $286 million in cash.
Cricut Inc (CRCT) is seeing encouraging early results from its new 'Think It, Make It, Cricket' marketing campaign, which has driven a meaningful increase in traffic to cricket.com and is expanding brand awareness beyond core crafters.
The company is making progress in international markets, with significant year-over-year connected machine sell-out growth in Asia, META, and LATAM, and international revenue now representing 23% of total revenue.

Negative

Total company sales declined approximately 9% year-over-year in Q2 2026, against a difficult comp due to the prior year's tariff-related pull-forward.
Product revenue fell 22% year-over-year to $71.3 million, impacted by lower volumes, promotional pricing, and a mix shift toward lower-priced new machines.
The accessories and materials business remains a challenge, with continued erosion in volumes and pricing due to a highly competitive market and consumer price sensitivity.
The company faces ongoing tariff headwinds and broader cost pressures, including input costs and supply chain dynamics, with no guidance provided on margin impact due to uncertainty.
International sales were down 1% year-over-year, impacted by a temporary sales timing issue from a distribution change in Europe, which created a headwind in the quarter.
Excluding one-time items (IEEPA tariff refunds and a legal settlement), gross margin would have been approximately 58.9%, flat to last quarter, and operating margin would have been 14.7% instead of the reported 30.3%.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

CRCT.OQ - Cricut Inc
Q2 2026 Cricut Inc Earnings Call
Aug 04, 2026 / 09:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good day and thank you for standing by. Welcome to the Cricket Q2 2026 Earnings Conference Call.

At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To ask a question during the session, you will need to press *11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press *11 again.

Please be advised that today's conference is being recorded.

I would now like to hand it over to your first speaker today, Chris Delfiore, Director of Investor Relations. Please go ahead.

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Unidentified_2

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