Cricut Inc (NASDAQ: CRCT) is a consumer creativity hardware and platform company that sells connected cutting and crafting machines alongside a subscription platform and physical accessories and materials. Revenue comes from two segments: Products, covering connected machines, accessories, and materials ($381.4M in FY2025, down from $399.6M in FY2024), and Platform, covering subscription fees and digital content ($327.4M in FY2025, up from $313.0M in FY2024). Total revenue was $708.8M in FY2025, $712.5M in FY2024, and $765.1M in FY2023. The company had approximately 5.87 million Active Users, 3.09 million Paid Subscribers, and Platform ARPU of $55.77 as of and for the year ended December 31, 2025. Net income was $76.7M in FY2025. The business was founded and launched its first connected machine in 2014, and operates primarily in the United States and Canada with international expansion ongoing. Supply chain originates largely in Malaysia and China, with three contract manufacturers building connected machines.

Revenue model

Dual-stream model: transactional hardware and consumables sales (connected machines, accessories, materials) plus recurring subscription fees for platform access and digital content. Platform ARPU was $55.77 for FY2025. Paid subscribers totaled 3.09 million as of December 31, 2025. Fourth quarter historically represents approximately 29% of annual revenue (FY2025), driven by holiday seasonality.

Products and services

Connected cutting and crafting machines (first launched 2014), accessories, materials, and a subscription-based digital platform providing design software, digital content, and AI-enabled creative tools. The platform supports users in going from digital design to physical creation.

Customers and end markets

Individual consumers focused on personalization and physical crafting. Users are acquired primarily through word-of-mouth and social media. Active Users totaled approximately 5.87 million as of December 31, 2025, with 90-Day Engaged Users of 3.70 million. No disclosed customer concentration among retail or wholesale buyers in the excerpts.

Value-chain role

Product designer and platform operator. Hardware manufacturing is outsourced to three contract manufacturers, with supply chain concentrated in Malaysia and China. Third-party logistics partners handle distribution. Cricut owns the platform, digital content library, and user relationship.

Geographic exposure

Primarily United States and Canada. International markets are an active expansion area. Supply chain originates largely in Malaysia and China, with geographic diversification being pursued to reduce tariff exposure.

Source: SEC 10-K, filed 2026-03-04

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