Recent Updates — CRCT

Cricut, Inc. entered into a new five-year, senior secured, multicurrency revolving credit facility with aggregate commitments of $300 million through BMO Bank N.A., replacing its prior agreement dated August 2022. The facility matures on October 22, 2031, and includes a $35 million letter-of-credit sublimit and a $30 million foreign-currency sublimit. Borrowings bear interest at Adjusted Term SOFR plus margins of 1.125% to 2.00%, or the Alternate Base Rate plus 0.125% to 1.00%. The company must maintain a maximum Net Leverage Ratio of 3.00 to 1.00 and a minimum Interest Coverage Ratio of 3.00 to 1.00, with flexibility to increase leverage ratios following acquisitions exceeding $75 million. Cricut designs and sells personal cutting machines and crafting supplies for the creative community.

Cricut, Inc. reported second quarter 2026 financial results for the period ended June 30, 2026. Total revenue was $156.3 million, a 9% decline from Q2 2025, driven by a 22% drop in products revenue to $71.3 million, partially offset by over 5% growth in platform revenue to $85.0 million. Net income increased 59% year-over-year to $39.1 million, or $0.19 diluted EPS, benefiting from improved gross margins of 74.5%. Paid subscribers grew 3% to over 3.1 million. The company also disclosed a recurring semi-annual dividend of $0.10 per share paid in July 2026. Cricut operates as a creative technology platform providing connected cutting machines and subscription services for personal crafting.