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MARKETS / NYSE / CRCL
NYSE · FINANCE SERVICES · SMALL CAP

Circle Internet Group, Inc. CRCL

3 fiscal years on record · USD · FY2025 reported · SEC filings only
$109.8M
▲ 624.0% YoY
$-69.5M
▼ 144.7% YoY
$529.7M
▲ 62.3% YoY
In brief

What this company does

Circle exclusively issues Circle stablecoins, which are available through hundreds of retail and institutional products worldwide. Circle's revenue is primarily driven by reserve income earned on the assets backing its payment stablecoins. USDC had more than $75 billion in circulation as of December 31, 2025, with daily transaction volumes regularly exceeding $10 billion during the year. As of December 31, 2025, the company had approximately 1,100 employees. The company's platform is organized around three pillars: Arc Blockchain and Developer Infrastructure, its Layer-1 blockchain network and related developer tools and interoperability infrastructure; Circle Digital Assets and Services, which includes USDC, EURC, USYC, Circle Mint and xReserve; and Circle Applications, which includes the Circle Payments Network and StableFX. Circle was founded in 2013.

Written from the business description in Circle Internet Group, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 9 March 2026. Every sentence was checked against that document before publication.

Growth
USD 109.8M
Revenue, FY2025 · full 3-year series below
Revenue $M Net income $M
FY2025 · Revenue 109.8 · Net income -69.5
100.0M200.0M-25.0M-50.0M202320242025
Compound annual growth
3 yrs
5 yrs
10 yrs
15 yrs

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−63 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -87.8% · Net -63.3%
500%1000%202320242025
ROE
FY2025 · ROE -3.6%
10%20%-1%-2%-3%202320242025

Each USD of equity lost 4 cents this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 529.7
200M400M202320242025
Net buybacks $M Dividends $M
FY2025 · Dividends — · Net buybacks -51.8
4M-20M-40M202320242025

Total assetsUSD 78.7B
EquityUSD 3.3B
CashUSD 1.5B
Current ratio1.03×

Equity funds 4% of total assets.

The 3-year record
3 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 202520242023
Revenue $B0.10.00.0
Operating income $B−0.10.20.3
EBITDA $B−0.00.20.3
Income tax $B−0.00.10.0
Net income $B−0.10.20.3
Free cash flow $B0.50.30.1
EPS, diluted $−0.440.300.78
Dividend / sh $···
Payout %···
ROE %−3.627.3·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 10 reconciliationsAUDITED

Reconciled in 3 of 19 fiscal years. 66 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityFinance Services
Listed onNYSE
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2023

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