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cricut Cricut , Inc. Reports Second Quarter 2021 Financial Results August 12 , 2021 Revenue grew 42 % over Q2 2020 Total users climb to 5.4 million and paid subscribers grew 77 % over Q2 2020 to 1.8 million Delivered 10th consecutive quarter of profitability with net income of $ 49.1M ; Delivered $ 68.5M of EBITDA SOUTH JORDAN , Utah , Aug. 12 , 2021 ( GLOBE NEWSWIRE ) -- Cricut , Inc. ( “ Cricut " ) ( NASDAQ : CRCT ) , the creative technology company that has brought a connected platform for making to millions of users worldwide , today announced financial results for its second quarter ended June 30 , 2021 . " Our second quarter performance delivered strong results across the business , driven by new users and continued healthy engagement levels , " said Ashish Arora , Chief Executive Officer of Cricut . " We successfully launched two new connected machines , a new line of Smart Materials , added new features and functionality to our software platform , and saw strong growth from our top international markets . I want to thank our passionate community of users worldwide and believe there is even greater opportunity for creatives everywhere to join the Cricut platform . " Second Quarter 2021 Financial Results • Revenue was $ 334.5 million , up 42.1 % over Q2 2020 • Connected machine revenue was $ 146.3 million , up 29.0 % over Q2 2020 • Subscriptions revenue was $ 50.7 million , up 110.9 % over Q2 2020 • Accessories and materials revenue was $ 137.5 million , up 40.4 % over Q2 2020 • Gross margin was 39.0 % , up from 31.1 % over Q2 2020 • Net income was $ 49.1 million , up 40.8 % over Q2 2020 , and was 14.7 % of revenue , compared to $ 34.9 million , or 14.8 % of revenue in Q2 2020 • Diluted earnings per share was $ 0.22 • EBITDA , was $ 68.5 million , or 20.5 % of revenue , compared to $ 49.2 million , or 20.9 % of revenue in Q2 2020 , and included $ 8.1 million of stock - based compensation expense • International revenue grew 179.5 % over Q2 2020 and was 8.5 % of total revenue , up from 4.3 % of total revenue in Q2 2020 EBITDA and EBITDA margin are non - GAAP measures and are reconciled to the corresponding GAAP measures at the end of this release . " Our second quarter's performance was driven by a strong diversified revenue stream and community of engaged users who fuel our viral marketing engine , " said Marty Petersen , Chief Financial Officer of Cricut . " The large pull forward of users from 2020 and the first half of 2021 provide a powerful flywheel effect to our business with long - term monetization opportunities . " Second Quarter 2021 Business Highlights • Launched Cricut Explore 3 and Cricut Maker 3 , which included new physical hardware , software features , and content . Designed to cut up to twice as fast , users can also cut longer runs of materials , up to 12 feet in length . • Launched a new line of Smart Materials , engineered to keep materials perfectly aligned and on track from start to finish without a cutting mat . These new Smart Materials are designed to increase use cases and provide an overall customer experience not achieved by generic materials today . • Added new software features and improved user experiences to help drive user engagement in our cloud - based software . Design Space now includes a new kerning feature that enhances font usage while saving time and increasing use cases . Also introduced new ways for users to more easily organize their personal library of projects with redesigned bookmark features and on - going search optimization efforts . Our subscription service , Cricut Access , now has over 175,000 images available , an increase of over 40 % from Q2 2020 . • International markets remain a key strategic focus area . Launched new direct - to - consumer ecommerce site in the UK and added first sales team members in Italy and Mexico . Continued retailer footprint expansion in Germany , France , Spain , South Africa , and Southeast Asia . • Tenth consecutive quarter of net income profitability ; EBITDA profitable every year since 2014 .