Circle Internet (CRCL) Cost of Revenue (2024 - 2026)
Circle Internet (CRCL) reported Cost of Revenue of $6.6 million for Q1 2026, up 1875.22% year-over-year from $335000.0 in Q1 2025, and down 72.99% on a QoQ basis from $24.5 million in Q4 2025.
Circle Internet (CRCL) has 3 years of Cost of Revenue data on file, last reported at $6.6 million in Q1 2026.
- Quarterly Cost of Revenue rose 1875.22% year-over-year to $6.6 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $37.2 million (up 1186.21% YoY) and the FY2025 annual result came in at $25.7 million, up 292.46% from the prior year.
- Cost of Revenue fell to $6.6 million in Q1 2026 per CRCL's latest filing, from $24.5 million in the prior quarter.
- Across five years, Cost of Revenue topped out at $24.5 million in Q4 2025 and bottomed at $281000.0 in Q3 2024.
- The 3-year median for Cost of Revenue is $1.1 million (2024), against an average of $5.0 million.
- Peak annual rise in Cost of Revenue reached 2958.68% in 2025, while the deepest fall reached 68.16% in 2025.
- Tracing CRCL's Cost of Revenue over 3 years: stood at $801000.0 in 2024, then surged by 2958.68% to $24.5 million in 2025, then plunged by 72.99% to $6.6 million in 2026.
- Per Business Quant, the three latest CRCL Cost of Revenue figures stand at $6.6 million (Q1 2026), $24.5 million (Q4 2025), and $5.6 million (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Morgan Stanley | 330.71 Bn | 197.18 Bn | - | - |
| 2 | Goldman Sachs | 318.59 Bn | -618.96 Bn | - | - |
| 3 | Schwab Charles | 154.74 Bn | 109.76 Bn | - | - |
| 4 | Robinhood Markets | 81.79 Bn | 77.15 Bn | 960.00 Mn | 107.00 Mn |
| 5 | Interactive Brokers | 39.54 Bn | 50.13 Bn | - | - |
| 6 | Circle Internet | 25.60 Bn | 24.08 Bn | 35.01 Mn | 6.62 Mn |
| 7 | LPL Financial Holdings | 22.12 Bn | 21.10 Bn | - | - |
| 8 | Iren | 21.58 Bn | 19.37 Bn | 144.76 Mn | 39,000.00 |
| 9 | Tradeweb Markets | 21.29 Bn | 20.04 Bn | - | - |
| 10 | Hut 8 | 14.71 Bn | 14.86 Bn | 45.47 Mn | 25.55 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 6.62 Mn |
| Mar 31, 2026 | 6.62 Mn |
| Dec 31, 2025 | 24.50 Mn |
| Dec 31, 2025 | 24.50 Mn |
| Sep 30, 2025 | 5.62 Mn |
| Sep 30, 2025 | 5.62 Mn |
| Jun 30, 2025 | 470,000.00 |
| Jun 30, 2025 | 470,000.00 |
| Mar 31, 2025 | 335,000.00 |
| Mar 31, 2025 | 335,000.00 |
| Dec 31, 2024 | 801,000.00 |
| Dec 31, 2024 | 801,000.00 |
| Sep 30, 2024 | 281,000.00 |
| Sep 30, 2024 | 281,000.00 |
| Jun 30, 2024 | 1.48 Mn |
| Jun 30, 2024 | 1.48 Mn |