# Cricut, Inc. (CRCT)

> Source: Nexqual · https://nexqual.com/CRCT · data as of 2026-10-23 20:00 UTC · cite as "Nexqual, Cricut, Inc. (CRCT), nexqual.com/CRCT" · informational, not investment advice.

**Price:** USD 6.25 (-2.50% on the day) · last close of Oct 23, 2026; US market closed, not a live price. Prev close 6.41 · day 6.18–6.37 · 52w 3.74–6.82 · market cap $1.31B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $690M, net income $87.7M (12.7% margin) (SEC filings).
- Valuation: P/E 15.0x (avg 20.2x at the last 3 fiscal year-ends).
- Insider open-market sales, last ~7 months: 14 Form 4 filings, $7.2M; 3 not under a Rule 10b5-1 plan ($158K); 0 by opportunistic insiders, 11 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 1 Form 4 filing, $43K; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Sell (mean 4.33 on a 1–5 scale) (3 analysts), mean target USD 4.07 (range 3.7–4.5).
- Total return with dividends: 1Y +25.0% vs S&P 500 +13.4%; 5Y -67.2% vs S&P 500 +76.9%.
- Next earnings: 2026-11-03, EPS estimate USD 0.05, revenue estimate $172M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.31B | $886M | $765M | $713M | $709M | $690M |
| Gross profit | $457M | $350M | $343M | $353M | $390M | — |
| Operating income | $192M | $80.0M | $70.0M | $76.1M | $96.0M | $107M |
| Net income | $140M | $60.7M | $53.6M | $62.8M | $76.7M | $87.7M |
| EPS (diluted) | $0.64 | $0.28 | $0.24 | $0.29 | $0.35 | — |
| Gross margin | 35.0% | 39.5% | 44.9% | 49.5% | 55.1% | — |
| Operating margin | 14.7% | 9.0% | 9.1% | 10.7% | 13.5% | 15.5% |
| Net margin | 10.8% | 6.8% | 7.0% | 8.8% | 10.8% | 12.7% |
| Revenue growth | +36.2% | -32.1% | -13.7% | -6.9% | -0.5% | — |
| Cash + short-term investments | $242M | $299M | $245M | $337M | $276M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 15.0x · P/S 1.9x · P/B 3.6x · Earnings yield 6.68% · Dividend yield (paid, TTM) 15.38% · Buyback yield (TTM) 2.12%
P/E at fiscal year-ends: Dec 2025 14.0x, Dec 2024 19.6x, Dec 2023 27.0x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
11 of 14 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-10-21…2026-10-23 | Ashish Arora | Chief Executive Officer | 180,000 | $1.1M | 3.5% | Yes (adopted August 20, 2025) | Routine (sold in Aug each year 2023–2025; this trade is outside those months) |
| 2026-10-01…2026-10-05 | Ashish Arora | Chief Executive Officer | 180,000 | $1.2M | 3.4% | Yes (adopted August 20, 2025) | Routine (sold in Aug each year 2023–2025; this trade is outside those months) |
| 2026-09-15…2026-09-17 | Ashish Arora | Chief Executive Officer | 180,000 | $1.0M | 3.2% | Yes (adopted August 20, 2025) | Routine (sold in Aug each year 2023–2025; this trade is outside those months) |
| 2026-09-04 | Ashish Arora | Chief Executive Officer | 60,000 | $336K | 1.1% | Yes (adopted August 20, 2025) | Routine (sold in Aug each year 2023–2025; this trade is outside those months) |
| 2026-09-02…2026-09-03 | Ashish Arora | Chief Executive Officer | 120,000 | $699K | 2.1% | Yes (adopted August 20, 2025) | Routine (sold in Aug each year 2023–2025; this trade is outside those months) |
| 2026-08-25 | Harmer Ryan | Principal Accounting Officer | 10,000 | $57K | 3.1% | No | Too little history (no open-market trades in 2024) |
| 2026-08-17…2026-08-19 | Ashish Arora | Chief Executive Officer | 180,000 | $996K | 3% | Yes (adopted August 20, 2025) | Routine (sold in Aug each year 2023–2025) |
| 2026-08-13 | Harmer Ryan | Principal Accounting Officer | 5,000 | $30K | 1.5% | No | Too little history (no open-market trades in 2024) |
| 2026-08-03…2026-08-05 | Ashish Arora | Chief Executive Officer | 180,000 | $939K | 4.1% | Yes (adopted August 20, 2025) | Routine (sold in Aug each year 2023–2025) |
| 2026-07-15…2026-07-17 | Ashish Arora | Chief Executive Officer | 3,333 | $16K | 0.1% | Yes (adopted August 20, 2025) | Routine (sold in Aug each year 2023–2025; this trade is outside those months) |
| 2026-06-01 | Ashish Arora | Chief Executive Officer | 16,366 | $70K | 0.4% | Yes (adopted August 20, 2025) | Routine (sold in Aug each year 2023–2025; this trade is outside those months) |
| 2026-05-28 | Harmer Ryan | Principal Accounting Officer | 17,267 | $71K | 5% | No | Too little history (no open-market trades in 2024) |
| 2026-05-22 | Ashish Arora | Chief Executive Officer | 60,000 | $239K | 1.4% | Yes (adopted August 20, 2025) | Routine (sold in Aug each year 2023–2025; this trade is outside those months) |
| 2026-05-20…2026-05-21 | Ashish Arora | Chief Executive Officer | 120,000 | $474K | 2.7% | Yes (adopted August 20, 2025) | Routine (sold in Aug each year 2023–2025; this trade is outside those months) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
1 purchase, $43K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-05-12…2026-05-13 | Makler Jason | Director | 10,001 | $43K | 4.34 | Too little history (no open-market trades in 2024 or 2025) |

## Analysts
Consensus Sell (mean 4.33 on a 1–5 scale), 3 analysts; mean target USD 4.07 (low 3.7, high 4.5).

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-24) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +25.0% | -67.2% |
| S&P 500 (SPY) | +13.4% | +76.9% |
| Per year | +25.1% | -20.0% |
| Volatility (annualized) | 41.7% | 59.0% |
| Max drawdown | -28.7% (Nov 2025→Mar 2026) | -81.7% (Oct 2021→Apr 2025) |

## Peers (Computer Hardware)
ADIG (ADI Global Distribution Inc.) USD 16.23 -1.52% · PSQL (Pasqal Holding SA) USD 5.56 -1.59% · QUBT (Quantum Computing Inc.) USD 6.56 -0.46% · CRSR (Corsair Gaming, Inc.) USD 13.73 +0.66% · IQMX (IQM Quantum Computers Oyj) USD 9.01 +1.24% · UMAC (Unusual Machines, Inc.) USD 17.02 +4.61%

## More
Full page: https://nexqual.com/CRCT · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in CRCT's own 10-K filed 2026-03-04 (https://www.sec.gov/Archives/edgar/data/1828962/000182896226000010/crct-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | JOANN | "For example, in January 2025, our customer JOANN, Inc. announced it had filed for Chapter 11 bankruptcy and in February 2025 announced that it would liquidate and discontinue business." |
| Partner | Amazon (AMZN) | "The revenue generated from the sales of our connected machines, subscriptions, accessories, and materials comes from a robust mix of brick-and-mortar and online retail, including direct-to-consumer on Cricut.com, and par…" |
| Partner | Walmart (WMT) | "The revenue generated from the sales of our connected machines, subscriptions, accessories, and materials comes from a robust mix of brick-and-mortar and online retail, including direct-to-consumer on Cricut.com, and par…" |
| Partner | Best Buy (BBY) | "The revenue generated from the sales of our connected machines, subscriptions, accessories, and materials comes from a robust mix of brick-and-mortar and online retail, including direct-to-consumer on Cricut.com, and par…" |
| Partner | Costco (COST) | "The revenue generated from the sales of our connected machines, subscriptions, accessories, and materials comes from a robust mix of brick-and-mortar and online retail, including direct-to-consumer on Cricut.com, and par…" |
| Partner | While JOANN | "While JOANN, Inc.'s bankruptcy has not had a material adverse effect on our business, results of operations or financial condition, there can be no assurance that the bankruptcy, financial distress, or restructuring of o…" |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Platform | $85.0M | 54.4% | +5.3% |
| Products | $71.3M | 45.6% | -22.0% |
| Total revenue | $156.3M | 100% | — |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Platform | $85.0M | 54.4% | +5.3% |
| Products | $71.3M | 45.6% | -22.0% |
| Total revenue | $156.3M | 100% | — |

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| North America | $120.4M | 77.0% | -11.4% |
| International | $35.9M | 23.0% | -1.0% |
| Total revenue | $156.3M | 100% | — |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.05 | $0.03 | +53.7% | $172.0M | 3 |
| Next quarter (ends 2026-12-31) | $0.02 | $0.01 | +143.3% | $209.4M | 3 |
| Current fiscal year (ends 2026-12-31) | $0.35 | $0.19 | +81.8% | $696.7M | 3 |
| Next fiscal year (ends 2027-12-31) | $0.24 | $0.19 | +24.4% | $704.5M | 3 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-12-18 (includes earnings 2026-11-03): ±46.8%; last 8 reports averaged ±12.8%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-12-18 | 55 | 143.8% | ±46.8% |
| 2027-03-19 | 146 | 101.2% | ±53.2% |