2024-03-05 16:24:49 ET
- Cricut press release ( NASDAQ: CRCT ): Q4 GAAP EPS of $0.05.
- Revenue of $231.2M (-17.7% Y/Y) misses by $21.47M .
- Connected machine revenue was $77.4 million compared to $102.3 million in Q4 2022.
- Subscriptions revenue was $76.5 million up from to $71.1 million in Q4 2022.
- Accessories and materials revenue was $77.3 million compared to $107.3 million in Q4 2022.
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2023 business Highlights...
- Total user base grew to over 8.9 million, or 13% over 2022. Growth in our top 6 markets indicate 7% market penetration of our serviceable addressable market, up from 5% two years ago.
- Paid subscribers grew to 2.77 million, up 6% over 2022. Attach rates decreased to 31% compared to 33% in 2022.
- Ended 2023 with 3.9 million Engaged Users, down 3% over 2022. In Q4 2023, 44% of total users cut on the Cricut platform over the past 90 days. 66% of total users cut on their connected machines in 2023.
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Cricut GAAP EPS of $0.05, revenue of $231.2M misses by $21.47M