Filing Flows › Circle Internet Group (CRCL) › Q1 2026
Circle Internet Group (CRCL) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 11, 2026
Circle Internet Group (CRCL) reported revenue of $694M for the first quarter 2026 (Q1 2026), +20% from a year earlier and -10% from the quarter before. Operating margin was 6.5%, net earnings $55.2M (8.0% of revenue).
Circle Internet Group, Q1 2026: revenue $694M (+20% year over year), operating margin 6.5%, net earnings $55.2M, operating cash flow $21.1M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $694M | -10% | +20% |
| Operating profit | $45.0M | -18% | -52% |
| Net earnings | $55.2M | -59% | -15% |
| Operating cash flow | $21.1M | -92% | -63% |
| Free cash flow | $11.7M | -95% | -77% |
What changed
Revenue was $694.1M in Q1 2026, up 20% year over year and down 10% from the previous quarter.
Operating profit was $45.0M, a 6.5% margin (down 9.6 points year over year). Operating profit fell $47.9M even though revenue rose $115.6M versus a year earlier, so costs grew faster than sales. Total costs grew 34% against revenue growth of 20%. The fastest-growing cost line was General & admin (+87%). Net earnings were $55.3M, down 15% year over year. The effective tax rate was 2.5%. Non-operating items added $11.7M, 21% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $21.1M (down 63% year over year), 38% of net earnings. Non-cash charges added back $26.8M of depreciation and amortization and $51.8M of share-based compensation. Working capital and other items used $112.8M. Capital expenditures of $9.4M left free cash flow of $11.7M.
Questions
What was Circle Internet Group's revenue in the first quarter 2026?
Circle Internet Group (CRCL) reported revenue of $694M for the first quarter 2026 (Q1 2026), +20% from a year earlier and -10% from the quarter before.
Was Circle Internet Group profitable in the first quarter 2026?
Operating profit was $45.0M (6.5% of revenue) and net earnings $55.2M.