Circle Internet Group, Inc.
For the period ended Sep 30, 2025. Filed Nov 12, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 12, 2025
CRCL$64.98-3.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements Of Operations
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)
| (in thousands, except per share information) | Three Months Ended September 30, | Nine Months Ended September 30, | ||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Revenue and reserve income | ||||
| Reserve income | $711,241 | $445,215 | $1,903,426 | $1,228,117 |
| Other revenue | 28,518 | 547 | 72,984 | 12,769 |
| Total revenue and reserve income | 739,759 | 445,762 | 1,976,410 | 1,240,886 |
| Distribution, transaction and other costs | ||||
| Distribution and transaction costs | 447,199 | 257,422 | 1,200,983 | 707,065 |
| Other costs | 413 | 281 | 1,218 | 5,752 |
| Total distribution, transaction and other costs | 447,612 | 257,703 | 1,202,201 | 712,817 |
| Operating expenses | ||||
| Compensation expenses | 129,295 | 65,269 | 708,307 | 194,022 |
| General and administrative expenses | 45,477 | 33,337 | 119,301 | 99,583 |
| Depreciation and amortization expenses | 23,002 | 13,122 | 51,091 | 37,347 |
| IT infrastructure costs | 9,401 | 6,865 | 25,833 | 20,074 |
| Marketing expenses | 5,623 | 4,382 | 17,393 | 10,838 |
| Digital assets (gains) losses | (1,671) | 1,285 | 3,906 | (159) |
| Total operating expenses | 211,127 | 124,260 | 925,831 | 361,705 |
| Operating income (loss) from continuing operations | 81,020 | 63,799 | (151,622) | 166,364 |
| Other (expense) income, net | 72,071 | 22,365 | (91,453) | 44,843 |
| Net income (loss) from continuing operations before income taxes | 153,091 | 86,164 | (243,075) | 211,207 |
| Income tax expense (benefit) | (61,294) | 15,168 | (40,151) | 58,649 |
| Net income (loss) from continuing operations | $214,385 | $70,996 | $(202,924) | $152,558 |
| Earnings (loss) per share: | ||||
| Basic | $0.93 | $0.00 | $(1.53) | $0.32 |
| Diluted | $0.64 | $0.00 | $(1.53) | $0.25 |
| Weighted-average shares used in computing earnings (loss) per share: | ||||
| Basic | 229,895 | 54,553 | 132,422 | 54,309 |
| Diluted | 266,682 | 73,125 | 132,422 | 73,026 |
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