CRCL Earnings

Circle Reports Second Quarter 2025 Results

Published August 12, 2025 at 10:25 AM

NEW YORK--(BUSINESS WIRE)--Circle Internet Group, Inc. (NYSE: CRCL) today announced results for the second quarter of fiscal year 2025. Financial Highlights USDC in circulation grew 90% year-over-year to $61.3 billion at quarter end, and has grown an additional 6.4% to $65.2 billion as of August 10, 2025 Total revenue and reserve income grew 53% year-over-year to $658 million Net loss was $482 million, significantly impacted by IPO-related non-cash charges that totaled $591 million: $424 millio

Related Questions

How will the significant non‑cash IPO-related charges affect Circle's valuation and future earnings forecasts? What is the expected impact of the 90% YoY growth in USDC circulation on Circle's revenue streams and market share? How does Circle's 53% YoY increase in total revenue and reserve income compare to industry peers in the stablecoin and crypto‑finance space? Will the net loss of $482 million and the $591 million non‑cash charge lead to a downward revision of consensus earnings estimates? What are the potential implications of the IPO-related charges on Circle's balance sheet and cash flow outlook? Is there any indication that the IPO proceeds will offset the non‑cash charges in the near term? How could this earnings release affect the short‑term price action of CRCL stock and the broader market perception of crypto‑related equities? What risks does the heavy reliance on non‑cash accounting items introduce for future financial reporting and investor confidence? How does Circle's performance align with macro‑economic trends affecting the cryptocurrency market and stablecoin adoption? How might the growth in USDC supply influence demand for Circle's underlying assets and liquidity provision services?