NASDAQ$CRCT
Cricut Inc · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Cricut reported a revenue decline but demonstrated positive momentum in user growth and subscription services.
Cricut, Inc. reported a 32% decrease in revenue to $177.0 million for Q3 2022 compared to Q3 2021. Despite the revenue decline, the company maintained profitability with a net income of $12.4 million and saw growth in total users and paid subscribers.
- Total users grew by 30% year-over-year, reaching nearly 7.5 million.
- Paid subscribers increased by 35% year-over-year, totaling nearly 2.5 million.
- Gross margin increased to 46.2% from 39.2% in Q3 2021.
- The company reported its 15th consecutive quarter of profitability.
Headline financials
Revenue & EPS history
Cricut · Revenue · Quarterly
$177M
Revenue by segment
Cricut · $108M total across 2 segments · Q3 2022
- Products$55.7M-46.6%51.5%
- Platform$52.4M-48.9%48.5%
Forward guidance
Cricut believes retailer inventory positions were much healthier exiting the third quarter. The company continues to operate the business from a position of financial strength and believes it is well positioned to deliver healthy long-term operating margins.
Tailwinds
- Retailer inventory positions were much healthier
- The company has a proven track record of profitable growth
- The company is well positioned to deliver healthy long-term operating margins
- Continued investment in areas with the highest impact
- Fostering higher levels of engagement
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2022
+2.2%
Avg return
Earnings day
+0.8%
Avg return
5 days after
+8.5%
Avg return
30 days after
52%
13 / 25 earnings
Positive
+46.9%
Q1 2024
Best reaction
-21.2%
Q3 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.4% | +3.4% | -1.0% | |
| Q4 2025 | +4.6% | -5.3% | -7.4% | |
| Q3 2025 | -5.2% | -4.6% | -0.8% | |
| Q1 2025 | +20.2% | +23.3% | +26.6% | |
| Q4 2024 | +4.2% | +3.8% | -6.4% | |
| Q3 2024 | -12.6% | -9.4% | -12.4% | |
| Q2 2024 | +11.1% | +12.5% | +4.0% | |
| Q1 2024 | +46.9% | +27.3% | +21.7% | |
| Q4 2023 | -3.1% | -1.5% | +0.8% | |
| Q3 2023 | -9.2% | -10.4% | -18.5% | |
| Q2 2023 | +6.3% | +2.3% | -5.9% | |
| Q1 2023 | -9.2% | -18.3% | +39.0% | |
| Q4 2022 | +10.3% | +7.5% | +20.5% | |
| Q3 2022 | +12.3% | +16.8% | +11.3% | |
| Q2 2022 | -2.5% | -1.5% | +5.1% | |
| Q1 2022 | -15.1% | -12.2% | -33.6% | |
| Q4 2019 | -21.1% | -25.4% | -3.7% | |
| Q4 2021 | -17.1% | -23.6% | -4.3% | |
| Q3 2020 | +8.7% | +9.9% | +0.8% | |
| Q3 2021 | -21.2% | -14.3% | -20.6% | |
| Q2 2020 | -18.4% | -22.8% | +1.2% | |
| Q2 2021 | -15.5% | -19.0% | +4.5% | |
| Q1 2020 | +26.0% | +27.5% | +64.2% | |
| Q4 2020 | +26.0% | +27.5% | +64.2% | |
| Q1 2021 | +26.0% | +27.5% | +64.2% | |
| Q3 2019 | — | — | — |
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