Circle Internet Group, Inc. (CRCL) Form 8-K — Aug 5, 2026
Circle reported Q2 2026 total revenue and reserve income of $701 million, up 7% year-over-year, with net income from continuing operations of $48 million — a $530 million swing from the prior-year quarter, which was burdened by IPO-related stock-based compensation. Adjusted EBITDA grew 8% to $143 million and revenue less distribution costs rose 15% to $289 million. USDC in circulation ended the quarter at $73.3 billion, up 19% year-over-year, while onchain USDC transaction volume reached $14.8 trillion, up 151%.
Key figures
- Eps
- Basic $0.19; Diluted $0.18
- Revenue
- 701315000
- Guidance
- USDC in circulation 40% CAGR multi-year (unchanged); FY2026 Other Revenue raised to $310-$330M from $150-$170M; FY2026 RLDC Margin raised to 41.7-43.7% from 38-40% (both include recognized ARC Token presale revenue); FY2026 Adjusted Operating Expenses unchanged at $570-$585M
- Net Income
- 48214000
- Revenue Yoy
- 7%
- Total Assets
- 77165460000
- Cash Position
- 1730126000
- Shares Outstanding
- 252.7M (233.5M Class A + 19.2M Class B issued and outstanding)
- Rldc
- $289M (+15% YoY)
- Rldc margin
- 41% (+302bps YoY)
- Other revenue
- $34M (+41% YoY)
- Reserve income
- $668M (+5% YoY)
- Usdc minted q2
- $83B (+97% YoY)
- Adjusted ebitda
- $143M (+8% YoY)
- Usdc redeemed q2
- $87B (+113% YoY)
- Meaningful wallets
- 7.0M (+24% YoY)
- Operating expenses
- $254M (-56% YoY, prior year burdened by IPO stock-based compensation)
- Reserve return rate
- 3.5% (-66bps YoY)
- Stockholders equity
- $3.51B
- Net income yoy change
- +$530M vs Q2'25 loss, driven by prior-year IPO stock-based compensation impacts
- Adjusted ebitda margin
- 50% (-329bps YoY)
- Stablecoin market share
- 27% (-66bps YoY)
- Agent stack paid services
- 900+, with 99.3% of x402 agent-payment volume settling in USDC
- Arc public mainnet launch
- September 16, 2026
- Adjusted operating expenses
- $146M (+23% YoY)
- Usdc in circulation average
- $76.5B (+25% YoY)
- Diluted weighted avg shares q2
- 268.6M
- Usdc on platform end of period
- $12.4B (+106% YoY)
- Usdc onchain transaction volume
- $14.8 trillion in Q2'26 (+151% YoY)
- Deposits from stablecoin holders
- $72.93B
- Usdc in circulation end of period
- $73.3B (+19% YoY)
- Cpn annualized volume trailing 30d
- $14.7B (+76% QoQ)
- Cpn financial institutions enrolled
- 175 (+29% QoQ)
- Distribution transaction other costs
- $412M (+1% YoY)
- Cash segregated for stablecoin holders
- $73.16B
Price after filing
Close on the filing date to close N calendar days later (from $63.25). Historical, not a forecast.
AI analysis
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