Quick Verdict
Cricut Inc.’s Q3 2026 Earnings results were strong as Cricut reported Q3 2026 revenue of $188.6 million and diluted EPS of $0.13, beating published analyst estimates. Net income climbed 36% as product sales accelerated and margins expanded. Shares rose 15.75% to $6.91 in reported after-hours trading, while management announced dividends and renewed buyback capacity alongside continued innovation investments.
About Cricut, Inc.
Cricut, Inc. (NASDAQ: CRCT) is a creative-technology company headquartered in South Jordan, Utah. Originally incorporated in June 1969 as Provo Craft & Novelty, it adopted the Cricut name in March 2018. Its connected crafting platform combines cutting machines, design software, subscriptions, accessories, and materials, helping consumers create personalized cards, clothing, home décor, and other handmade products. Its hardware families include Cricut Maker, Explore, Joy, and StickerPix, alongside EasyPress tools and the Infusible Ink system.
The company reports through two businesses: Products and Platform. Products generated approximately 54.5% of third-quarter revenue, while Platform contributed 45.5%. Cricut ended September with approximately 5.99 million active users and 3.07 million paid subscribers. Public company profiles list approximately 700 employees. Using the November 3 regular-session closing price of $5.97 and September-end shares outstanding, its indicative equity market capitalization was approximately $1.24 billion; this is an estimate, not a live market quotation.
Top Financial Highlights
- Total revenue: $188.622 million, up 10.7% from $170.437 million a year earlier.
- Net income: $27.842 million, up 35.7% from $20.512 million.
- Diluted EPS: $0.13, compared with $0.10 in Q3 2025.
- Gross margin: 57.7%, up approximately 2.5 percentage points from 55.2%.
- Operating income: $33.888 million, up 49.6%; operating margin reached 18.0%, versus 13.3%.
- Operating cash flow: $23.7 million for the quarter, according to management; nine-month operating cash flow totaled $100.878 million.
- Products revenue: $102.744 million, up 17.2%, making it the principal driver of quarterly revenue growth.
- Platform revenue: $85.878 million, up 3.7%.
- International revenue: Increased 30% and represented 28% of total sales, compared with 24% a year earlier.
- Cash on hand: The balance sheet shows $174.578 million in cash and cash equivalents, plus $98.124 million in marketable securities—$272.702 million combined. The CFO’s reference to approximately $273 million in “cash and cash equivalents” therefore appears to include marketable securities.
- Subscriber engagement: Paid subscribers reached 3.072 million; active users totaled 5.989 million. Both increased approximately 2% year over year.
- Share repurchases: Cricut spent $6.5 million repurchasing approximately 1.295 million shares during Q3; the board subsequently replenished repurchase authorization to $50 million, including previously unused capacity.
- Dividends: The board approved a recurring semiannual dividend of $0.10 per share and a special dividend of $0.70 per share, payable in January 2027.
Beat or Miss?
Cricut beat the earnings and revenue estimates reported by multiple providers, although their consensus figures differ. The table uses the $0.05 EPS and $172.02 million revenue benchmarks reported by TipRanks and carried by Markets Insider; MarketBeat’s earnings announcement reports the same rounded estimates.
| Metric | Reported | Difference/Analysis |
| Revenue | $188.622 million | Versus $172.02 million expected: a $16.602 million beat, approximately 9.7%. |
| Diluted EPS | $0.13 | Versus $0.05 expected: an $0.08 beat, or 160%. |
| Net income | $27.842 million | Comparable consensus estimate not established in the reviewed sources; up 35.7% YoY. |
| Gross margin | 57.70% | Consensus: N/A; increased approximately 250 basis points YoY. |
| Operating income | $33.888 million | Consensus: N/A; increased 49.6% YoY. |
Consensus-source distinction: Zacks reported an adjusted-EPS estimate of $0.03 and a revenue beat of 8.58%, while Investing.com used revenue consensus of $164.36 million. Those differences change the size of the surprise, not the conclusion that Cricut exceeded the published forecasts. Zacks explicitly labels its EPS figures as adjusted for nonrecurring items; Cricut’s release reports GAAP diluted EPS.
What Leadership Is Saying
“The launches of Maker 5 and StickerPix demonstrate how our investments in innovation are expanding the Cricut ecosystem, creating new reasons for consumers to make, and strengthening our long-term growth opportunity.” — Ashish Arora, Chief Executive Officer.
Arora connected the quarter’s performance to new products, a second consecutive quarter of double-digit sell-out growth, and increased user engagement. Products revenue grew substantially faster than Platform revenue, explaining why hardware and related sales led the overall recovery.
“In the third quarter, we delivered revenue of $188.6 million, up approximately 11% year over year, and net income of $27.8 million, or 14.8% of sales, reflecting strong results in both our Products and Platform businesses.” — Kimball Shill, Chief Financial Officer.
The financial statements support this profitability improvement: gross profit increased faster than operating expenses, allowing operating income to rise approximately 50% on revenue growth of approximately 11%.
Historical Performance
The following comparison uses the quarter ended September 30 in each year. Dollar figures are in millions, except EPS; percentage changes are calculated from the release’s unrounded financial-statement figures.
| Category | Q3 2026 | Q3 2025 | Change (%) |
| Revenue | $188.62 | $170.44 | 10.70% |
| Net income | $27.84 | $20.51 | 35.70% |
| Operating expenses | $74.99 | $71.45 | 5.00% |
| Gross profit | $108.88 | $94.10 | 15.70% |
| Operating income | $33.89 | $22.65 | 49.60% |
| Products revenue | $102.74 | $87.65 | 17.20% |
| Platform revenue | $85.88 | $82.78 | 3.70% |
| Diluted EPS | $0.13 | $0.10 | 30.00% |
The key relationship is operating leverage: sales rose 10.7%, but operating expenses increased only 5.0%. Combined with a higher gross margin, that gap allowed earnings to grow considerably faster than revenue.
How the Market Reacted?
Cricut shares closed November 3 at $5.97, down 1.16% during the regular session, before rising 15.75% to $6.91 in an after-hours snapshot reported by Investing.com. That quoted price exceeded the previously reported 52-week high of $6.82, although an extended-hours trade should not be described as a new regular-session closing high.
The reaction was consistent with stronger-than-expected earnings, improved margins, and additional shareholder distributions. The after-hours figure is a published snapshot, not a verified final extended-session closing price or a live November 4 quote.
