Cricut reports Q3 EPS 8c, consensus 7c

Reports Q3 revenue $174.91M, consensus $196.3M. “The third quarter was strong from a profitability perspective, with operating income +36% year over year despite a 1% sales decline. As we mentioned before, in 2023, we are focused on profitability and remain disciplined in our investments to generate value over time. We launched two new products in the quarter: Joy Xtra and Cricut Venture. We are encouraged by our subscriptions revenue which grew 11% year over year. Our international growth was positive, with 36% year over year growth. The Cricut platform now has over 8.6 million total users, up 16% over the third quarter last year. This creates a tremendous opportunity for us to build deeper user engagement on our platform by helping them discover inspiration, design then make their projects and share them on our platform,” said Ashish Arora, Chief Executive Officer of Cricut.