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Circle Internet Group (CRCL) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · Circle Internet Group (CRCL) Q3 2026 earnings results →
Q3 2026 Revenue up 17% year over year to $865M · 26¢ of every $1 of revenue kept as net profit · operating margin 24.1%
Circle Internet Group made $865M in Q3 2026 (+17% Y/Y): Other revenues $658M, Other $182M, Subscription and services $19.6M. Operating margin 24.1%, net earnings $226M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $864.9M in Q3 2026, up 17% year over year and up 23% from the previous quarter. Other was the largest line at 21% of revenue. Other added $182.1M year over year (up 70032%), 146% of the total change. Subscription and services declined 17%.
Operating profit was $208.3M, a 24.1% margin (up 13.1 points year over year). Of the extra revenue versus Q3 2025, 102% reached operating profit, above the 11% margin then. Total costs fell 0% while revenue rose 17%. The fastest-growing cost line was General & admin (+31%). Net earnings were $226.0M, up 5% year over year. The effective tax rate was 1.0%.
Operating cash flow was −$15.5M. Non-cash charges added back $34.2M of depreciation and amortization and $43.1M of share-based compensation. Working capital and other items used $318.8M. Capital expenditures of $20.0M exceeded it, leaving free cash flow of −$35.6M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 4, 2026 | $865M | +17% | 24.1% | $226M | −$15.5M |
| Q2 2026 | 10-Q | Aug 5, 2026 | $701M | +7% | 4.9% | $48.2M | $517M |
| Q1 2026 | 10-Q | May 11, 2026 | $694M | +20% | 6.5% | $55.2M | $21.1M |
| Q4 2025 | 10-K | Mar 9, 2026 | $770M | +77% | 7.2% | $133M | $249M |
| Q3 2025 | 10-Q | Nov 12, 2025 | $740M | +66% | 11.0% | $214M | −$10.7M |
| Q2 2025 | 10-Q | Aug 12, 2025 | $658M | +53% | -49.5% | −$482M | $247M |
Charts
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Interactive views
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⚖️Fair value by methodinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Circle Internet Group
We were founded in 2013 on the belief that we could connect the world more deeply by building a new global economic system on the foundation of the internet, and facilitate the creation of a world where everyone, everywhere can share value as easily as we can today share information, content, and communications. Financial services are undergoing a transition analogous to the internet’s evolution from closed networks to open, standardized infrastructure that enabled new applications, business models, and network effects. While the incumbent financial system has enabled substantial global economic activity and societal advancement, it remains constrained by legacy infrastructure and fragmented, intermediated networks that pass on excessive cost, slow settlement, limit interoperability, and create barriers to access.
In its own words, from its 10-K, filed Mar 9, 2026.
Circle Internet Group against its Finance Services peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +17% against the peers' median +17%. Operating margin: 24.1% against the peers' median 5.1%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| CRCL Circle Internet Group | Q3 2026 | $865M | +17% | 24.1% |
| AXP American Express | Q3 2026 | $20.1B | +9% | 22.6% |
| BTGO Bitgo Holdings | Q2 FY27 | $4.3B | +80% | -0.4% |
| General Motors Financial Company | Q3 2026 | $4.3B | -0.6% | 15.3% |
| SOFI SoFi Technologies | Q3 2026 | $1.4B | +44% | 22.9% |
| COIN Coinbase Global | Q3 2026 | $1.2B | -35% | 5.1% |
| CHYM Chime Financial | Q3 2026 | $718M | +32% | 4.8% |
| GDOT Green DOT | Q2 2026 | $596M | +18% | -0.1% |
| BKKT Bakkt | Q2 2025 | $578M | +13% | -3.2% |
Source: Circle Internet Group 10-Q on SEC EDGAR · CIK 1876042 · Finance Services
Guidance and outlook
13F: who owns CRCL and who is buying
More on CRCL
- How Circle Internet Group makes money: revenue by segment
- Circle Internet Group next earnings date and what analysts expect
- Circle Internet Group stock forecast, price target and fair value
- Who owns Circle Internet Group stock: holders, funds and Congress trades
- Circle Internet Group guidance and outlook
- Is Circle Internet Group a takeover target? LBO and rumors
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results