Circle Internet Group, Inc.

Listed Company

CRCLCIK 0001876042NYSENon-AcceleratedFinance ServicesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$2.75B

Net Income

$-69.51M

Total Assets

$78.71B

Equity

$3.33B

Shares Out

—

Op. Cash Flow

$542.13M

Business

Circle Internet Group, Inc. is a publicly listed company in Finance Services, incorporated in Delaware. Common stock trades on NYSE under the ticker CRCL.

Auto-generated from company profile

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31
Reserve income	2,637	1,661	1,431
Other revenue	110	15	20
Total revenue and reserve income	2,747	1,676	1,450
Distribution and transaction costs	1,662	1,011	720
Other costs	2	7	8
Total distribution, transaction and other costs	1,664	1,017	728
Compensation expenses	845	263	296
General and administrative expenses	190	137	100
Depreciation and amortization expenses	77	51	35
IT infrastructure costs	37	27	21
Marketing expenses	26	17	37
Gain on sale of intangible assets	0	0	−22
Digital assets losses (gains)	5	−4	−13
Total operating expenses	1,179	492	453
Operating income (loss) from continuing operations	−96	167	270
Other income (expense), net	−6	54	49
Net income (loss) from continuing operations before income taxes	−103	222	319
Income tax expense (benefit)	−33	65	47
Net income (loss) from continuing operations	−70	157	272
Loss from operations of discontinued businesses	0	−1	−4
Net income (loss) attributable to common stockholders	−70	156	268
Less: Net loss attributable to noncontrolling interests	−10,000	0	0
Net income	−70	156	268
Continuing operations (in dollars per share)	−0.44	0.33	0.95
Discontinued operations (in dollars per share)	0	0	0
Basic earnings (loss) per common share (in dollars per share)	−0.44	0.33	0.95
Continuing operations (in dollars per share)	−0.44	0.3	0.78
Discontinued operations (in dollars per share)	0	0	0
Diluted earnings (loss) per common share (in dollars per share)	−0.44	0.3	0.78
Basic (in shares)	159	54	47
Diluted (in shares)	159	73	68

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Cash and cash equivalents	1,526	751	369	—
Cash and cash equivalents segregated for corporate-held stablecoins	823	294	276	—
Cash and cash equivalents segregated for the benefit of stablecoin holders	75,068	43,919	24,346	—
Accounts receivable, net	63	6	—	—
Stablecoins receivable, net	0	7	—	—
Prepaid expenses and other current assets	322	188	—	—
Total current assets	77,801	45,165	—	—
Restricted cash	3	4	4	—
Investments	84	84	—	—
Fixed assets, net	23	19	—	—
Digital assets	87	31	11	—
Goodwill	266	170	170	—
Intangible assets, net	411	331	—	—
Deferred tax assets, net	11	10	—	—
Other non-current assets	27	21	—	—
Total assets	78,713	45,834	—	—
Deposits from stablecoin holders	74,913	43,727	—	—
Accounts payable and accrued expenses	361	287	—	—
Convertible debt, net of debt discount	37	0	—	—
Other current liabilities	18	17	—	—
Total current liabilities	75,328	44,031	—	—
Convertible debt, net of debt discount	0	41	—	—
Deferred tax liabilities, net	29	30	—	—
Warrant liability	0	2	—	—
Other non-current liabilities	25	21	—	—
Total non-current liabilities	54	93	—	—
Total liabilities	75,382	44,124	—	—
Commitments and contingencies (see Note 22)	—	—	—	—
Redeemable convertible preferred stock ($0.0001 par value, nil and 139.8 million shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively; aggregate liquidation preference of nil and $1.1 billion as of December 31, 2025 and December 31, 2024, respectively)	0	1,140	1,131	1,131
Treasury stock at cost (4.7 million and 5.0 million shares held as of December 31, 2025 and December 31, 2024, respectively)	−3	−3	—	—
Additional paid-in capital	4,610	1,793	—	—
Accumulated deficit	−1,293	−1,223	—	—
Accumulated other comprehensive income	15	4	—	—
Total stockholders' equity attributable to common stockholders	3,329	571	—	—
Noncontrolling interests	1	0	—	—
Total stockholders equity	3,331	571	339	−252
Total liabilities, redeemable convertible preferred stock and stockholders equity	78,713	45,834	—	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31
Depreciation and amortization expense	77	51	35
Accretion of premium on available-for-sale debt securities	0	−2	−8
Realized and unrealized losses (gains) on digital assets	−18	−13	−13
Change in fair value of convertible debt, warrant liability, and embedded derivatives	71	−10	−25
Digital assets received for services	−29	−2	−4
Equity securities received for services	−3	0	0
Deferred taxes	−2	−3	−33
Realized and unrealized losses (gains) on available-for-sale debt securities and strategic investments	−294,000	−434,000	2
(Gains) losses on sale of long-lived assets	22,000	73,000	−22
Foreign currency remeasurement losses (gains)	8	−565,000	1
Stock-based compensation	566	50	108
Provision for warrants in common stock	24	0	0
Charitable contributions to Circle Foundation	23	0	0
Other non-cash items	5	887,000	3
Accounts receivable	−39	−5	2
Prepaid expenses and other current assets	−147	−22	−51
Accounts payable and accrued expenses	81	133	−124
Other current liabilities	−5	11	291,000
Net cash provided by operating activities	542	345	140
Purchase of available-for-sale debt securities	0	−99	−312
Sale and maturities of available-for-sale securities	0	342	8,828
Cash acquired from acquisition of equity method affiliate	0	0	2
Sale and return of investments	1	739,000	1
Purchase of investments	−9	−4	−3
Business combinations, net of cash acquired	−8	0	0
Proceeds from sale of digital assets	196,000	5	27
Capitalization of software development costs	−56	−39	−33
Purchase of long-lived assets	−12	−18	−654,000
Net cash (used in) provided by investing activities	−84	186	8,510
Net changes in deposits held for stablecoin holders	31,140	19,452	−20,322
Purchase of treasury stock	0	0	−9
Proceeds from issuance of common stock in connection with initial public offering and follow-on public offering, net of underwriting discounts and commissions and offering costs	1,013	0	0
Payment of withholding taxes on settlement of restricted stock units	−270	0	0
Capital contribution from noncontrolling interest	1	0	0
Capitalized transaction costs	0	−4	0
Proceeds from exercise of stock options	52	2	1
Net cash provided by (used in) financing activities	31,936	19,450	−20,330
Effect of exchange rate changes on cash and cash equivalents, restricted and segregated cash	58	−7	1
Unrealized gains (losses) on available-for-sale debt securities classified as cash equivalents, net of tax	0	−224,000	−254,000
Net increase (decrease) in cash and cash equivalents, restricted and segregated cash	32,452	19,973	−11,680
U.S. Federal	12	62	64
Foreign - Other jurisdictions	2	1	229,000
Total cash paid for income taxes	13	76	81
Cash paid for interest	180,000	258,000	253,000
Digital assets collateral received	0	2	7
Proceeds from sale of intangible assets	0	0	22
Net changes in stablecoins receivable	7	17	−7
Non-cash purchase of investments and digital assets	−5	−7	−9
Conversion of convertible debt	89	15	0
Capitalized stock-based compensation expense related to internally developed software	87	14	13
Purchases of long-lived assets included in accounts payable and accrued expenses	−3	3	0
Unrealized gain (loss) on available-for-sale debt securities	0	−224,000	−815,000
Unrealized (loss) gain on convertible notes - credit risk, net of tax	−49,000	840,000	1
Non-cash consideration for acquisitions	−92	0	−210
Conversion of redeemable convertible preferred stock to common stock in connection with initial public offering	1,141	0	0

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