Circle Internet Group, Inc. (CRCL)
Circle Internet Group, Inc. establishes and maintains the core infrastructure for stablecoin and blockchain-based applications, functioning as a foundational platform and network for this innovative financial technology. The company offers an extensive array of stablecoin products and services, empowering organizations to harness the benefits of digital currencies and the evolving internet-driven financial ecosystem. Notably, it is a prominent issuer of a stablecoin pegged to the U.S. dollar. Its robust digital asset network encompasses proprietary Circle stablecoins, tokenized investment funds, liquidity provision, payment processing solutions, and comprehensive support for both developers and system integration. Founded in 2013, the firm maintains its headquarters in New York, New York.
Sector: Finance Services
Industry: Financial - Capital Markets
Circle Internet Group
NYSE:CRCLFinancial Services · Financial - Capital Markets
-0.82%$85.91
AH Close$85.72-0.22%vs close
AH Close$85.72-0.22%vs close
Mkt Cap$21.81B
Float191.08M
O/S253.88M
Inst Own52.0%
SI14.4%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$2.75B
Net Income-$69.51M
Total Assets$78.71B
Free Cash Flow$529.7M
Debt & Equity
Debt 1%
Equity 99%
Total Debt$36.82M
Total Equity$3.33B
Shares Outstanding
Short Interest
Split History1 split
- 18:1Forward splitAug 16, 20101 share → 18
Balance Sheet Details
Assets$78.71B
Liabilities$75.38B
Accounts Receivable$347.15M
Accounts Payable$105.33M
Inventory$0
PP&E (Net)$22.79M
Goodwill$265.74M
Intangible Assets$411.15M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 |
| Revenue | $2.75B | $1.68B | $1.45B | $772.05M | $84.88M | $15.44M |
| YoY Growth | 63.9% | 15.6% | 87.9% | 809.6% | 449.7% | - |
| Cost of Revenue | $2.51B | $1.28B | $1.02B | $522.32M | $110.79M | $22.54M |
| Gross Profit | $238.11M | $395.48M | $426.69M | $249.74M | -$25.91M | -$7.1M |
| Gross Margin | 8.7% | 23.6% | 29.4% | 32.3% | -30.5% | -46.0% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $215.99M | $154.61M | $136.67M | $161.11M | $44.82M | $14.32M |
| Other | $113.27M | $73.71M | $20.49M | $126.74M | $15.36M | $9.47M |
| Total Operating Expenses | $329.25M | $228.32M | $157.16M | $287.85M | $60.18M | $23.79M |
| Operating Income (EBIT) | -$91.14M | $167.16M | $269.53M | -$38.12M | -$86.1M | -$30.89M |
| Operating Margin | -3.3% | 10.0% | 18.6% | -4.9% | -101.4% | -200.1% |
| Interest Expense | $1.23M | $1.91M | $1.91M | $2.68M | $4.77M | $3.36M |
| Interest Income | $47.67M | $34.71M | $29.26M | $8.64M | $0 | $0 |
| Other Income (Expense) | -$11.75M | $54.42M | $49.42M | -$720.39M | -$417.76M | $13.69M |
| Income Before Tax (EBT) | -$102.89M | $221.57M | $318.95M | -$758.51M | -$503.86M | -$17.2M |
| Income Tax Expense | -$33.38M | $64.58M | $47.4M | $3.26M | $4.85M | $115K |
| Net Income | -$69.51M | $155.67M | $267.56M | -$768.85M | -$508.21M | $3.79M |
| Net Income Margin | -2.5% | 9.3% | 18.4% | -99.6% | -598.8% | 24.5% |
| Supplementary Data | ||||||
| EPS | -0.29 | 2.86 | 5.66 | -16.48 | -11.47 | 0.09 |
| Diluted EPS | -0.29 | 2.13 | 3.96 | -16.48 | -11.46 | 0.09 |
| Weighted Average OS | 242.30M | 54.41M | 47.27M | 46.66M | 44.30M | 44.30M |
| EBITDA | -$25.04M | $274.33M | $355.75M | -$742.55M | -$495.14M | -$9.34M |
| EBITDA Margin | -0.9% | 16.4% | 24.5% | -96.2% | -583.4% | -60.5% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 |
| Assets | ||||||
| Current Assets | ||||||
| Cash and Cash Equivalents | $1.53B | $750.98M | $368.62M | $36.66B | $161.56M | $26.42M |
| Short-Term Investments | $542K | $14.33M | $152.18M | $8.75B | $0 | $13.63M |
| Cash and Short-Term Investments | $1.53B | $765.31M | $520.81M | $45.41B | $161.56M | $40.05M |
| Accounts Receivable | $347.15M | $160.77M | $151.34M | $104.25M | $182.02M | $8.24M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $75.9B | $44.22B | $24.63B | $725.58M | $43.21B | $4.09B |
| Total Current Assets | $77.8B | $45.16B | $25.31B | $46.25B | $43.57B | $4.14B |
| Long-Term Assets | ||||||
| Property, Plant & Equipment Net | $22.79M | $18.68M | $2.62M | $7.22M | $1.21M | $428K |
| Goodwill | $265.74M | $169.54M | $169.54M | $169.54M | $24.01M | $24.01M |
| Intangible Assets | $411.15M | $331.39M | $327.38M | $47.9M | $248.69M | $8.14M |
| Long-Term Investments | $170.78M | $115.44M | $175.15M | $86.56M | $28.23M | $2.31M |
| Deferred Tax Assets | $11.11M | $10.22M | $0 | $174.01M | $0 | $0 |
| Other Long-Term Assets | $30.17M | $24.17M | $7.97M | $1.62M | $21.96M | $2.96M |
| Total Long-Term Assets | $911.74M | $669.46M | $682.67M | $486.85M | $324.11M | $37.85M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $78.71B | $45.83B | $26B | $46.73B | $43.9B | $4.18B |
| Liabilities | ||||||
| Current Liabilities | ||||||
| Accounts Payable | $105.33M | $123.58M | $10.7M | $10.99M | $0 | $0 |
| Short-Term Debt | $36.82M | $0 | $0 | $1.93M | $24.04M | $12.5M |
| Current Income Tax Payable | $0 | $678K | $0 | $0 | $9.66M | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $415K | $888K |
| Other Current Liabilities | $74.93B | $43.74B | $24.28B | $45.58B | $43.4B | $4.09B |
| Total Current Liabilities | $75.33B | $44.03B | $24.44B | $45.59B | $43.48B | $4.13B |
| Long-Term Liabilities | ||||||
| Long-Term Debt | $0 | $40.72M | $58.49M | $78.26M | $904.12M | $44.67M |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $301K | $411K |
| Long-Term Deferred Tax Liabilities | $28.7M | $29.56M | $19.62M | $177.92M | $0 | $4.73M |
| Other Long-Term Liabilities | $25.34M | $1.16B | $1.14B | $2.69M | $280.57M | $289.12M |
| Total Long-Term Liabilities | $54.04M | $1.23B | $1.22B | $260.58M | $1.18B | $338.94M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $75.38B | $45.26B | $25.66B | $45.85B | $44.66B | $4.47B |
| Stockholders' Equity | ||||||
| Preferred Stock | $0 | $0 | $0 | $1.13B | $0 | $0 |
| Common Stock | $26K | $6K | $6K | $5K | $5K | $4K |
| Retained Earnings | -$1.29B | -$1.22B | -$1.39B | -$1.65B | -$883.35M | -$374.92M |
| Comprehensive Income & Other | $14.52M | $3.64M | $4.93M | $3.36M | $4.71M | -$518K |
| Other Stockholders' Equity | $4.62B | $1.79B | $1.73B | $2.53B | $114.94M | $88.4M |
| Total Equity | $3.33B | $570.53M | $339.47M | $879.16M | -$768.41M | -$286.51M |
| Minority Interest | $1.45M | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $78.71B | $45.83B | $26B | $46.73B | $43.9B | $4.18B |
| Supplementary Data | ||||||
| Total Debt | $36.82M | $40.72M | $58.49M | $81.89M | $928.16M | $57.17M |
| Net Debt | -$1.49B | -$710.26M | -$310.14M | -$36.58B | $766.6M | $30.75M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 |
| Operating Activities | ||||||
| Net Income | -$69.52M | $155.67M | $267.56M | -$768.85M | -$508.21M | $3.79M |
| Depreciation & Amortization | $76.63M | $50.85M | $34.89M | $13.28M | $3.94M | $4.5M |
| Deferred Income Tax | -$2.15M | -$2.81M | -$32.89M | -$786K | -$4.73M | $4.19M |
| Stock-Based Compensation | $566.18M | $50.13M | $108M | $69.27M | $18.38M | $3.16M |
| Changes in Working Capital: | ||||||
| Accounts Receivable | -$39.38M | -$4.57M | $2.24M | $18.73M | -$21.11M | -$676K |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $81.24M | $132.88M | -$123.83M | $0 | $0 | $0 |
| Other Working Capital | -$151.39M | -$10.87M | -$50.87M | $152.16M | $14.89M | $14.81M |
| Total Working Capital Change | -$109.53M | $117.44M | -$172.46M | $170.9M | -$6.22M | $14.13M |
| Other Non-Cash Items | $80.53M | -$26.71M | -$65.53M | $443.5M | $404.51M | -$44.69M |
| Net Cash from Operating | $542.13M | $344.58M | $139.57M | -$72.69M | -$92.33M | -$14.92M |
| Investing Activities | ||||||
| Capital Expenditures | -$68.63M | -$39.1M | -$32.86M | -$18.32M | -$1.06M | -$7.08M |
| Acquisitions | -$6.26M | $0 | $1.63M | -$42.46M | -$9.3M | -$11.75M |
| Purchases of Investments | -$9.29M | -$103.58M | -$314.3M | -$102.87B | -$15.72B | $0 |
| Sales of Investments | $1.62M | $347.11M | $8.86B | $94.44B | $15.7B | $758K |
| Other Investing Activities | $0 | -$18.13M | -$654K | -$3.05M | -$1.73M | $137K |
| Net Cash from Investing | -$82.56M | $186.3M | $8.51B | -$8.49B | -$28.85M | -$17.93M |
| Financing Activities | ||||||
| Debt Repaid | - | - | - | - | -$438.54M | -$26.76M |
| Common Stock Issuance | $1.06B | $1.61M | $1.04M | $486K | $482K | $689K |
| Common Stock Repurchases | $0 | $0 | -$8.74M | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $30.87B | $19.45B | -$20.32B | $2.18B | $38.28B | $3.5B |
| Net Cash from Financing | $31.94B | $19.45B | -$20.33B | $2.58B | $38.72B | $3.53B |
| Forex Effect | -$31.62B | -$7.1M | $1.1M | $3.62M | $137K | $165K |
| Net Change in Cash | $775.07M | $19.97B | -$11.68B | -$5.98B | $38.6B | $3.49B |
| Supplementary Data | ||||||
| Operating Cash Flow | $542.13M | $344.58M | $139.57M | -$72.69M | -$92.33M | -$14.92M |
| Capital Expenditure | -$12.43M | -$39.1M | -$32.86M | -$18.32M | -$7.87M | -$7.08M |
| Free Cash Flow | $529.7M | $305.48M | $106.71M | -$91.01M | -$100.2M | -$22.01M |
| Cash at Beginning | $750.98M | $24.99B | $36.67B | $42.65B | $4.05B | $557.87M |
| Cash at End | $1.53B | $44.97B | $24.99B | $36.67B | $42.65B | $4.05B |