Cricut, Inc. · NASDAQ:CRCT
Cricut — Q4 2023 Earnings Presentation
21 slides from Cricut's earnings presentation, Mar 5, 2024
Slide 1: Financial Results Q4 2023
NASDAQ: CRCT Financial Results Q4 2023 March 5, 2024 cricut.
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: From idea to I did it
Apparel & Stickers 8 Everyday Accessories Vy st = & Labels BS é lal Items ae : 7 From idea School ® Flowers an 4 a to | did it. Supplies er omiies: a Décor Mugs & , Drinkware y/ Sue
Slide 4: User Base Growth, Engagement, Subscriptions Growth, Fiscally Disciplined
User Base Growth User Engagement • • • Subscriptions Growth Fiscally Disciplined • • • • • 4
Slide 5: User acquisition, engagement, subscriptions, accessories and materials
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Slide 6: Focus on new users
ce wa) Their Day - Sales Event, Feb 4-10 coeeshot: ¢ 15 Insanely Gorgeous Cricut Wedding Ideas We Love the Most eS | 9 Cricut Wedding Ideas to DIY | Bridal Shower 101 v ‘h | 4 The BEST Cricut Wedding Ideas aca @ i= Original audio kellyclarksonshow © BER BER BER! 1® Christmas crafts are getting an ‘u
Slide 7: Discover, Content, Share, Make
→ → Discover • • • Content • • Share Make 7
Slide 8: Discover > Make > Share
Discover > Make > Share JS a oo Get Inspired 1| Results 8
Slide 9: Positive outlook on subscriptions
_ RY. Cricut access Be Y. Stendard [GI Automatic Background Remover vide © Agheout Com © cootwooi Regular BFC Haunted House et’ bo this. “This subscription has so much content. | use it almost daily Let clo this \ and | love it.” Let's do this. LETS DO THIS @ ~ LETS DO THIS. Positive outlook on subs
Slide 10: Accessories & Materials
Accessories & Materials Continued transformation through innovation and investments * Reengineering products that prioritize affordability and that work seamlessly with our machines * Continued promotional cadence * — Intense focus on overall customer experience and generating renewed excitement
Slide 11: Sub ns New
rials New te Us Ma er A s& cq ie uis or ess itio Acc n Sub scr ipt t en ns io gem E nga User 11
Slide 12: Financial Results
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Slide 13: Full Year 2023 financial highlights
Full Year 2023 financial highlights Revenue $765.1M 14% YoY Decrease Tete toners seat Brescrd meraioes é Operating Income! Net Income $70.0M $53.6M -12% 12% YoY Decrease YoY Decrease 9.1% 7.0% of Total Revenue of Total Revenue Did you know? 2023 was our 7 consecutive year of GAAP profitability sults
Slide 14: Revenue Q4 and FY
• Q4 FY $886.3M • $765.1M • • $280.8M $231.2M Q4 2022 Q4 2023 FY 2022 FY 2023 YoY Growth Rates 14
Slide 15: Users, subscribers and engagement KPIs
Did you know? 8.9M 7.9M 4.1M 2.61M 2.77M 3.9M 33% 31% Q4 2022 Q4 2023 Q4 2022 Q4 2023 Q4 2022 Q4 2023 15
Slide 16: Total Gross Margin
Q4 FY Total Gross Margin 29.8% 42.0% 39.5% 44.9% • • Q4 22 Q4 23 FY 22 FY 23 16
Slide 17: Operating expenses Q4 and FY
Q4 FY $269.9M $273.3M $80.5M $72.5M Q4 22 Q4 23 FY 22 FY 23 17
Slide 18: Operating Income and Net Income
Operating Income Net Income Q4 FY Q4 FY $80.0M $70.0M $60.7M $53.6M $16.5M $11.1M $10.9M $11.3M Q4 22 Q4 23 FY 22 FY 23 Q4 22 Q4 23 FY 22 FY 23 Operating Net Income Margins Margins 18
Slide 19: Cash, inventory and liquidity
$245.1M $288.1M $15.7M $300.0M 19
Slide 20: FY2024 outlook
Expect paid subscribers and subscription revenue to grow slightly for FY24 but do not expect total company Q1 revenue growth and possible decline Materials New YoY for FY24. s & Us rie e Continue deeper promotions and comprehensive marketing on rA o ess Connected Machines in 2024. cqu Acc isitio Exp
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