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% quarter-over-quarter from $24.5 million in Q4 2025.
Circle Internet (CRCL) Cost of Revenue (2024 - 2026) Analysis & Trends
Circle Internet (CRCL) has 3 years of Cost of Revenue data on file, last reported at $6.6 million in Q1 2026.
- Cost of Revenue for Q1 2026 came in at $6.6 million, up 1875.22% year-over-year; the trailing twelve-month figure through Mar 2026 was $37.2 million (up 1186.21% YoY), and the FY2025 annual result was $25.7 million, up 292.46% from the prior year.
- Cost of Revenue declined to $6.6 million in Q1 2026 per CRCL's latest filing, from $24.5 million in the prior quarter.
- Over five years, Cost of Revenue peaked at $24.5 million in Q4 2025 and troughed at $281000.0 in Q3 2024.
- A 3-year average of $5.0 million and a median of $1.1 million in 2024 frame the typical range for Cost of Revenue.
- On a YoY basis, Cost of Revenue climbed as much as 2958.68% in 2025 and fell as far as 68.16% in 2025.
- A 3-year view of Cost of Revenue shows it stood at $801000.0 in 2024, then jumped by 2958.68% to $24.5 million in 2025, then slumped by 72.99% to $6.6 million in 2026.
- Business Quant data shows CRCL's Cost of Revenue at $6.6 million in Q1 2026, $24.5 million in Q4 2025, and $5.6 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | SOL Strategies | 94,425.84 Bn | 94,425.84 Bn | - | - |
| 2 | Morgan Stanley | 349.82 Bn | 216.29 Bn | - | - |
| 3 | Goldman Sachs | 333.85 Bn | -603.70 Bn | - | - |
| 4 | Schwab Charles | 160.31 Bn | 115.33 Bn | - | - |
| 5 | Robinhood Markets | 97.28 Bn | 92.64 Bn | 960.00 Mn | 107.00 Mn |
| 6 | Interactive Brokers | 42.79 Bn | 53.38 Bn | - | - |
| 7 | LPL Financial Holdings | 23.54 Bn | 22.51 Bn | - | - |
| 8 | Tradeweb Markets | 21.20 Bn | 19.96 Bn | - | - |
| 9 | Iren | 19.97 Bn | 17.75 Bn | 144.76 Mn | 39,000.00 |
| 10 | Circle Internet | 19.67 Bn | 18.16 Bn | 35.01 Mn | 6.62 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 |