Cricut, Inc. · NASDAQ:CRCT
Cricut — Q1 2026 Earnings Presentation
21 slides from Cricut's earnings presentation, May 5, 2026
Slide 1: Financial Results Q1 2026
NASDAQ: CRCT Financial Results QI 2026 May 5, 2026 cricut 2O years
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 S
Slide 3: From idea to I did it
Apparel & Accessories Flowers Mugs & Drinkware = eo: a / From idea to | did it. Gifts Everyday Items Back to School Parties
Slide 4: Platform-first progress
Platform-first progress Ql UPDATE Early benefits emerging; total sales growth remains key to unlock. ~ Platform-first strategy gaining traction through improved onboarding, machine bundles, Design Space guided flows, and integrated services. + Newest machines and Cricut’s first service offering laun
Slide 5: Q1 2026 Highlights
Ql 2026 Highlights as Sales * Platform revenue increased nearly 6% * Strong machine sell-out units W New Product Launches * Newcutting machines, heat presses and materials * Al-driven Project Designer and other platform improvements * Winner - Michael’s Best New Product Launch Award 02 Roadmap * Inc
Slide 6: New User Acquisition
cricut 7 Reasons to Tr for Your Next aft Project “Direc Cricut Joy 2 review: portable DIY projects in a pinch Anew spinon Cricut’s compact cutting machine HHIKS GEE yey sects putts rns 2026 OOO @ Lein100 comorsaon CRICUT: Ready to bundle? Get up to $50 off a machine bundle - for 72 hrs only! Shop No
Slide 7: Progress stabilizing engagement trends
Progress stabilizing engagement trends * Active Users up 1% both YoY & sequentially * Positive early response for guided flows, Al-assisted Project Designer tool, and improved project preview visualization * 6guided flows cover most popular use cases that dramatically simplify user experience * More
Slide 8: Driving repeat engagement
e ; eS ‘Your Milestones Lets se where you are on Creator Level: Curious Complete more project streaks to level up. 3 more projects to next level ot Ametriiscnt x 26 Financial Result Driving repeat engagement * Enhanced education content for guided flows * Improved accuracy of Al assistant chatbot *
Slide 9: Introducing Create AI / Positive subscriptions growth YoY
+ Introducing Create Al Dinosaur with unicorn horn riding a skateboard = 72-hour Bundle Sale Abowl of fruit with funny a - ene ey vom 2 Contributing Artists Acatina hie aati : ae ach Ne ey? hd “\< —LIEBE® e | wassu > “oct =@ allo QI 2026 Financial Result: Positive subscriptions growth YoY 3.08M * Pa
Slide 10: Accessories & Materials
Accessories & Materials Working to aggressively refresh portfolio, improve value, and sharpen channel execution * Focus on innovation with new product launches * Expanding material portfolio with new materials and more variety in core categories * Broadening lineup of heat presses to meet more price
Slide 11: Monetizing our platform beyond cutting machines
Monetizing our platform beyond cutting machines DTF (Direct-to-Film) Service ° Users create full-color artwork in Design Space that Cricut prints and sends to them at home * Users then use their heat press to adhere design to their final fabric or substrate ° Over 80% of orders from subscribers, aro
Slide 12: Financial Results
Financial Results QI 2026 Financial Results 2
Slide 13: Q1 2026 financial highlights
QI 2026 financial highlights Revenue Operating Income Net Income $159.5M $22.9M $20.3M 2% 22% 15% YoY decline YoY decrease YoY decrease 14.4% 12.7% of Total Revenue of Total Revenue Ql 2026 Financial Results 13
Slide 14: Revenue breakdown
Revenue breakdown * Platform revenue increased 6% YoY * Products revenue decreased 10% YoY $162.6M $159.5M * International revenue increased over 16% YoY Q12025 Q12026 Platform m™ Products -3% YoY Growth Rates -2% Ql 2026 Financial Results 4
Slide 15: User base dynamics
User base dynamics Ql 2025 Q12026 4. 90-Day Vv Engaged Users 3.37M 3.35M Ql 2025 Q12026 QI 2026 Financial Results es Paid Subscribers 297M 3.08M @12025 @12026 15
Slide 16: Gross margin
Gross margin Ql Contributing Factors Platform Margins ° Effectively flat year on year Products Margins * Decrease primarily driven by inventory write-downs from end-of-life programs, lower monetization of previously reserved inventory, tariffs, and increased promotional activity 100% 90% 80% 70% 60%
Slide 17: Operating expense
Operating expense * Maintained marketing spend to drive excitement and customer acquisition * Continued investments in physical products and platform $69.0M $69.8M 42.4% 43.8% 10.2% 10.6% 10.4% Q12025 Q1 2026 wR&D BS&M § G&A %=% of total revenue Ql 2026 Financial Results 7
Slide 18: Operating income and net income
Operating income and net income ¢ Operating Income ¢ Net Income $29.3M $22.9M $23.9M $20.3M Q1 2025 Q12026 Q12025 Q12026 14.4% 14.7% ae 12.7% Margins Operating Margins 18.0% 18
Slide 19: Q1 2026 Balance Sheet and Cash Flow highlights
Q1 2026 Balance Sheet and Cash Flow highlights € Cash, equivalents $255.7M $300.0M as of 3/31/26 Cash, cash equivalents, Untapped credit line marketable securities ©) Cash Flow generated $26.9M from Operations 3/31/26 YTD vs $61.2M PY YTD Oo Share Repurchase $1 2.2M $21M co Used during QI 2026 to re
Slide 20: Forward looking commentary
Forward looking commentary Focused on growth drivers through increased R&D, new product launches, marketing, and international expansion, while using promotions to support affordability. Challenging first half. Expect Q2 total revenue decline YoY due to difficult comparison from tariff-driven demand
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