Circle Internet Group CRCL
Circle Internet Group fiscal 2025 annual report
Fiscal 2025 (ended Dec 31, 2025) · Filed Mar 9, 2026Original
An annual report (10-K, or 20-F for a foreign company) is the business report a US-listed company files with the SEC every year.
How much did Circle Internet Group sell in fiscal 2025?
As stated in annual reports · fiscal 2023–2025
Fiscal 2025 revenue
$2.7B+63.9% vs prior year
Net loss $69.5M
| Fiscal year | Revenue | Net income |
|---|---|---|
| 2023 | $1.5B | $267.6M |
| 2024 | $1.7B | $155.7M |
| 2025 | $2.7B | −$69.5M |
Fiscal 2025 (ended Dec 31, 2025) · Filed Mar 9, 2026Whalegun
- Revenue
- $2.7B
- +63.9% vs prior year
- Operating income
- −$96.4M
- 3.5% of revenue
- Net income
- −$69.5M
- 2.5% of revenue
- Diluted EPS
- −$0.44
- Operating cash flow
- $542.1M
- Free cash flow
- $529.7M
Key points the company states
Circle runs a stablecoin platform anchored by USDC, with more than $75 billion in circulation
- Founded in 2013, Circle says it is building a full-stack internet financial platform anchored by its stablecoin network.
- The platform has three pillars: Arc blockchain, Circle Digital Assets and Services, and Circle Applications.
- USDC circulation exceeded $75 billion at Dec 31, 2025, and USDC is native on 30 public blockchains.
Circle's 2025 revenue rose 64% to $2.7 billion, with a net loss of $70 million after IPO stock pay
- Total revenue and reserve income grew 64% to $2.7 billion.
- Reserve income was 96.0% of revenue; the company attributes its growth mainly to higher average USDC in circulation.
- Net loss from continuing operations was $70 million versus net income of $157 million a year earlier.