Slide 1: Q3 2025 Financial Results
NASDAQ : CRCT replace Financial Results Q3 2025 November 4, 2025 Q3 2025 Financial Results 1
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. We intend all forward-looking statements to be covered by the safe harbor provisions of the Private Se
Slide 3: I want to make…
I want to make… Apparel & Everyday Cards Décor Accessories Items From idea Back to Flowers to I did it. School Mugs & Stickers Gifts Parties 3 Drinkware & Labels Q3 2025 Financial Results
Slide 4: Q3 2025 Highlights
Q3 2025 Highlights Sales Discover • Total sales increased 2% YoY • International sales increased 5% YoY C Profitability • Operating income of $22.7M or 13.3% of sales Content • Operating income increased 114% YoY Subscriptions Growth • Over 3.0M Paid Subscribers, increased 6% YoY Share Make Portfoli
Slide 5: Clear growth opportunities as the category leader
Clear growth opportunities as the category leader Dedicated path to reaccelerate consumer excitement for the brand and category Attract more new users Address affordability, ease of use, to buy connected machines and increased market awareness Reverse weakening engagement trends Enhance and simplify
Slide 6: New User Acquisition
replace New User Acquisition • Increased marketing spend continues • Target market expansion to reach users with: o Greater disposable income o More time • More than 20% increase in overall marketing engagement YoY • Increase in searches for “What Is Cricut” • Sell out units up in North America and
Slide 7: Maximizing engagement
Dinosaur with unicorn horn riding a skateboard Maximizing engagement Generate • On track to meet our goal of dramatically simplifying overall user experience by end of 2025 • Step-by-step guided flows within Design Space for Vinyl Decals, Iron-On T-Shirts, Folded Cards and Cardstock cut-outs • Conti
Slide 8: Continued positive growth for subscriptions
Dinosaur with unicorn horn Continued positive growth for subscriptions riding a skateboard A bowl of fruit 3.0M+ Paid subscribers 6% YoY à with funny faces • Paid subscribers up 166K YoY, down 6K sequentially in Q3 Recommended • Effectively converted Onboarders to Are you sure you want to cancel? su
Slide 9: Accessories & Materials
Accessories & Materials Continued transformation through innovation and investments NEW! Materials Collection • Printable Temporary Tattoo Sheets & Magnet Sheets • Iron-On finishes including Flocked, Color Pop, 3D and Puff • Vibrant Pens & Markers • Rainbow color changing vinyl, laser-compatible vin
Slide 10: Financial Results
Financial Results Q3 2025 Financial Results 10
Slide 11: Q3 2025 financial highlights
Q3 2025 financial highlights Revenue Operating Income 1 Net Income $170.4M $22.7M $20.5M 2% 114% 79% YoY Increase YoY Increase YoY Increase 13.3% 12.0% of Total Revenue of Total Revenue 1. Q3 2025 Operating Income includes $7.4 million of stock-based compensation expense. Q3 2025 Financial Results 1
Slide 12: Revenue breakdown
Revenue breakdown • Platform revenue increased 7% YoY • Products revenue decreased 3% YoY $167.9M $170.4M o Connected Machines revenue increased 12% YoY o Accessories & Materials revenue decreased 17% YoY • International revenue increased 5% YoY Q3 2024 Q3 2025 -4% YoY Growth Rates 2% Q3 2025 Financ
Slide 13: User base dynamics
User base dynamics 90-Day Active Users Paid Subscribers Engaged Users 5.89M 5.87M 3.53M 3.42M 3.00M 2.84M Q3 2024 Q3 2025 Q3 2024 Q3 2025 Q3 2024 Q3 2025 Q3 2025 Financial Results 13
Slide 14: Gross margin
Gross margin Q3 Contributing Factors Total Gross Margin Platform Margins 46.1% 55.2% • Slight increase due to lower amortization of software development costs 100% 90% Products Margins 80% 70% • Increase due to less reserves compared to 60% last year, the selling of previously reserved excess and ob
Slide 15: Operating expense
Operating expense • Increased marketing spend to drive excitement and engagement $66.8M $71.4M • Continued investments in physical 40% 42% products and platform 10% 10% 22% 21% 9% 10% Q3 2024 Q3 2025 R&D S&M G&A % = % of total revenue Q3 2025 Financial Results 15
Slide 16: Operating income and net income
Operating income and net income Operating Income Net Income $22.7M $20.5M $10.6M $11.5M Q3 2024 Q3 2025 Q3 2024 Q3 2025 Operating Net Income 6.3% Margins 13.3% 6.8% Margins 12.0% -55% YoY $ Growth 114% -33% YoY $ Growth 79% Q3 2025 Financial Results 16
Slide 17: Q3 2025 Balance Sheet and Cash Flow highlights
Q3 2025 Balance Sheet and Cash Flow highlights Cash, equivalents as of 9/30/25 $207.1M $300.0M Cash, cash equivalents, Untapped credit line marketable securities Cash Flow generated from Operations 9/30/25 YTD $117.8M vs $161.9M PY YTD Share Repurchase $2.3M $181M $21M Used during Q3 2025 to July 21
Slide 18: Forward looking commentary
Forward looking commentary Relentlessly focused on increasing our speed of execution. Accelerating investments in hardware product development, materials, engagement and marketing, including increased awareness in international markets to help drive future revenue growth. Expect Platform sales to in