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Cricut (CRCT) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 6, 2026
Cricut (CRCT) reported revenue of $159M for the first quarter 2026 (Q1 2026), -2% from a year earlier and -22% from the quarter before. Operating margin was 14.4%, net earnings $20.3M (12.7% of revenue).
Cricut, Q1 2026: revenue $159M (-2% year over year), operating margin 14.4%, net earnings $20.3M, operating cash flow $26.9M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $159M | -22% | -2% |
| Gross profit | $92.7M | -4% | -6% |
| Operating profit | $22.9M | +64% | -22% |
| Net earnings | $20.3M | +161% | -15% |
| Operating cash flow | $26.9M | -67% | -56% |
What changed
Revenue was $159.5M in Q1 2026, down 2% year over year and down 22% from the previous quarter. Platform was the largest line at 53% of revenue. Products lost $7.9M year over year (down 10%), 251% of the total change.
Gross margin was 58.1%, down 2.3 points from Q1 2025. Operating profit was $22.9M, a 14.4% margin (down 3.7 points year over year). Operating expenses grew 1% against a revenue fall of 2%. Net earnings were $20.3M, down 15% year over year. The effective tax rate was 19.0%.
Operating cash flow was $26.9M (down 56% year over year), 132% of net earnings. Non-cash charges added back $5.6M of depreciation and amortization and $6.5M of share-based compensation. Working capital and other items used $5.5M.
Questions
What was Cricut's revenue in the first quarter 2026?
Cricut (CRCT) reported revenue of $159M for the first quarter 2026 (Q1 2026), -2% from a year earlier and -22% from the quarter before.
Was Cricut profitable in the first quarter 2026?
Operating profit was $22.9M (14.4% of revenue) and net earnings $20.3M.
Source: Cricut 10-Q on SEC EDGAR.