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Income Statement
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Cricut, Inc.

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
 
In millions, except per share itemsDec-31-22Dec-31-21Dec-31-20Dec-31-19Dec-31-18
   10-K10-K10-K10-KS-1/A
Revenue:       
Total revenue  886.31,306.2959.0486.6339.8
            Total revenue growth  -32.1%36.2%97.1%43.2% 
Cost of revenue:       
Total cost of revenue  536.4848.8626.7344.2228.7
    Gross profit  349.9457.5332.4142.4111.1
            Gross margin  39.5%35.0%34.7%29.3%32.7%
   
Operating expenses:       
Research and development  76.979.838.926.724.1
Sales and marketing  130.4134.063.340.130.7
General and administrative  62.651.329.622.018.4
    Total operating expenses  269.9265.0131.988.873.1
    Income from operations  80.0192.4200.553.638.0
            Operating margin  9.0%14.7%20.9%11.0%11.2%
Total other income (expense), net  2.00.0-1.3-3.3 
    Income before provision for income taxes  82.0192.4199.250.3 
Provision for income taxes  21.351.944.611.18.7
    Net income  60.7140.5154.639.227.4
   
Other comprehensive income (loss):       
Change in net unrealized gains (losses) on marketable securities, net of tax  -0.3    
Change in foreign currency translation adjustment, net of tax  -0.1-0.10.00.0 
    Comprehensive income  60.2140.4154.639.227.4
   
Earnings per share, basic (in dollars per share)  $0.28$0.67$0.74$0.19$0.24
Earnings per share, diluted (in dollars per share)  $0.28$0.64$0.74$0.19$0.24
   
Weighted-average common shares outstanding, basic (in shares)  214.5208.8208.1208.1208.1
Weighted-average common shares outstanding, diluted (in shares)  220.6219.8208.1208.1 

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