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NYSE · Financials

Circle Internet Group, Inc. (CRCL)

As-reported financials and SEC filings for Circle Internet Group, Inc. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Circle Internet Group, Inc.

Circle Internet Group, Inc. operates a full-stack internet financial platform centered on its stablecoin network, USDC, which supports digital asset transactions and payments. The company offers a Layer-1 blockchain called Arc, digital assets and related services, and applications that enable institutions, developers, and end-users to exchange value securely and efficiently. Circle serves thousands of companies, including financial institutions, developers, and payment providers, by providing infrastructure for digital asset custody, liquidity, and interoperability across multiple blockchains.

Snapshot

Revenue
$2.75B
Revenue growth (YoY)
63.9%
Net income
$-69.5M
Diluted EPS
$-0.44
Gross margin
Operating margin
-3.5%
Net margin
-2.5%
FCF margin
19.3%
ROE
-2.1%
net income / fiscal-year-end equity
P/E
trailing when available, otherwise FY EPS
Market cap
$24.39B
Long-term debt / equity
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Circle Internet Group

  • Revenue grew 63.9% to $2.7B in FY2025, faster than the 15.6% the year before.
  • Operating margin is now a 3.5% loss in FY2025, from 18.6% in FY2023.
  • Most recent quarter Q2 FY2026: revenue $701M, up 6.6% from Q2 FY2025.
  • Free cash flow was $530M in FY2025, 19.3% of revenue.
  • Net income turned to a $70M loss in FY2025, from a $156M profit in FY2024.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Circle Internet Group’s fundamentals sit among the 425 Financials companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Operating margin-3.5%
25th percentile of 146
Net margin-2.5%
14th percentile of 377
FCF margin19.3%
51st percentile of 272
Revenue growth (YoY)+63.9%
91st percentile of 420
ROE-2.1%
21st percentile of 375
Short interest1.98d
17th percentile of 420

Circle Internet Group’s revenue growth of +63.9% ranks in the 91st percentile of the 420 Financials companies reporting it. Circle Internet Group’s net margin of -2.5% ranks in the 14th percentile of the 377 Financials companies reporting it.

No reported insider purchases (code P) in the last 90 days; 148 insider sales totaling $163.7M. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 2 of the superinvestors we track (plus 7 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
2
+7 quant / multi-strat
Initiated / added
4
1 new, 3 added
Reduced / exited
7
5 trimmed, 2 exited
Combined position
$459.6M
reported long value
InvestorAs ofPosition valueSharesChange
ARK Investment ManagementQ2 2026$285.5M4.6MAdded
Renaissance TechnologiesquantQ2 2026$127.3M2.0MAdded
Citadel AdvisorsquantQ2 2026$16.9M270.2KReduced
AQR Capital ManagementquantQ2 2026$15.2M243.5KReduced
Two Sigma InvestmentsquantQ2 2026$10.2M163.1KAdded
Gotham Asset ManagementQ2 2026$1.8M29.4KReduced
D. E. ShawquantQ2 2026$1.8M28.0KReduced
Millennium ManagementquantQ2 2026$513,5668.2KReduced
Point72 Asset ManagementquantQ2 2026$288,0984.6KNew

No longer held by: Polen Capital Management (as of Q2 2026), Soros Fund Management (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
148
$163.7M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-08-21
filed 2026-08-24
Fox-Geen JeremyChief Financial OfficerSell45.0K$90.00$4.0M
2026-08-20
filed 2026-08-21
BURNS M MICHELEDirectorSell3.3K$85.13$284K
2026-08-13
filed 2026-08-14
Fox-Geen JeremyChief Financial OfficerSell8.5K$75.00$636K
2026-08-10
filed 2026-08-12
Chandhok NikhilChief Product & Tech. OfficerSell26.7K$67.15$1.8M
2026-08-06
filed 2026-08-07
Ostling Danita KDirectorSell20.0K$61.65$1.2M
2026-08-05
filed 2026-08-07
Allaire JeremyChairman and CEOSell19.5K$61.76$1.2M
2026-08-05
filed 2026-08-07
Allaire JeremyChairman and CEOSell13.1K$62.94$822K
2026-08-05
filed 2026-08-07
Allaire JeremyChairman and CEOSell9.7K$61.05$592K
2026-08-05
filed 2026-08-07
Allaire JeremyChairman and CEOSell8.3K$63.66$527K
2026-08-05
filed 2026-08-07
Allaire JeremyChairman and CEOSell5.7K$60.14$342K
2026-08-05
filed 2026-08-07
Allaire JeremyChairman and CEOSell526$61.76$32K
2026-08-05
filed 2026-08-07
Allaire JeremyChairman and CEOSell526$61.76$32K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
24.4M
settled 2026-08-14
Change vs prior
+0.1%
vs previous settlement
Days to cover
1.98
at avg daily volume
Avg daily volume
12.3M
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-1424.4M+0.1%1.98
2026-07-3124.4M-9.9%2.31
2026-07-1527.1M+23.9%1.69
2026-06-3021.9M-1.9%1.60
2026-06-1522.3M+45.2%1.62
2026-05-2915.3M-15.1%1.24
2026-05-1518.1M-20.6%1.00
2026-04-3022.8M-9.9%2.29

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023
Revenue$2.75B$1.68B$1.45B
Gross profit
Operating income$-96.4M$167.2M$269.5M
Net income$-69.5M$155.7M$267.6M
Diluted EPS$-0.44$0.30$0.78

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2024FY2023
Cash and equivalents$1.53B$751.0M$368.6M
Current assets$77.80B$45.16B
Total assets$78.71B$45.83B
Current liabilities$75.33B$44.03B
Long-term debt
Total liabilities$75.38B$44.12B
Total equity$3.33B$570.5M$339.5M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023
Operating cash flow$542.1M$344.6M$139.6M
Capital expenditure$12.4M$18.1M$654,000
Free cash flow$529.7M$326.4M$138.9M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$701.3M6.6%$48.2M$0.18
Q1 FY2026$694.1M20.0%$55.3M$0.21
Q4 FY2025$660.4M57.2%$133.4M$0.56
Q3 FY2025$739.8M66.0%$214.4M$0.64
Q2 FY2025$658.1M53.0%$-482.1M
Q1 FY2025$578.6M$64.8M$0.00
Q4 FY2024$420.2M$3.1M
Q3 FY2024$445.8M$71.0M$0.00

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorFinancials
SIC industryFinance Services
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2021
SEC CIK1876042

Selected SEC filings

10-K/A2026-07-13
View on EDGAR →
10-Q2026-08-05
View on EDGAR →
8-K2026-08-05
View on EDGAR →
8-K2026-07-02
View on EDGAR →
8-K2026-06-12
View on EDGAR →

Largest Financials peers

All Financials companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.