Circle Internet (CRCL) Gross Margin (2024 - 2026)
Circle Internet (CRCL) posted quarterly Gross Margin of 96.69% for Q1 2026, down 265.0% year-over-year from 58.6% in Q1 2025, and down 3.28% quarter-over-quarter from 99.97% in Q4 2025.
Circle Internet (CRCL) Gross Margin (2024 - 2026) Analysis & Trends
Circle Internet (CRCL) has reported Gross Margin for 3 consecutive years, with 96.69% the latest figure, recorded in Q1 2026.
- In Q1 2026, Gross Margin fell 265.0% year-over-year to 96.69%; the TTM figure through Mar 2026 stood at 99.43% (up 218.0% YoY), while the FY2025 annual figure was 99.92%, up 11414.0% from the prior year.
- Gross Margin retreated to 96.69% in Q1 2026 per CRCL's latest filing, from 99.97% in the prior quarter.
- Across five years, Gross Margin topped out at 99.97% in Q4 2025 and bottomed at 701.1% in Q3 2024.
- Historically, Gross Margin has averaged 43.78% across 3 years, with a median of 79.24% in 2025.
- On a YoY basis, Gross Margin climbed as much as 78138 bps in 2025 and fell as far as 1142 bps in 2025.
- Circle Internet's Gross Margin stood at 170.33% in 2024, then jumped by 159 bps to 99.97% in 2025, then retreated by 3 bps to 96.69% in 2026.
- Business Quant data shows CRCL's Gross Margin at 96.69% in Q1 2026, 99.97% in Q4 2025, and 80.28% in Q3 2025.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Morgan Stanley | 333.21 Bn | 173.07 Bn | - | - |
| 2 | Goldman Sachs | 311.14 Bn | -665.21 Bn | - | - |
| 3 | Schwab Charles | 196.95 Bn | 123.36 Bn | - | - |
| 4 | Robinhood Markets | 93.19 Bn | 75.81 Bn | 1.20 Bn | 92.05% |
| 5 | Interactive Brokers | 41.71 Bn | -22.59 Bn | - | - |
| 6 | LPL Financial Holdings | 29.06 Bn | 26.36 Bn | - | - |
| 7 | Tradeweb Markets | 23.03 Bn | 20.97 Bn | - | - |
| 8 | Circle Internet | 21.70 Bn | 19.97 Bn | 288.85 Mn | 41.19% |
| 9 | Futu Holdings | 16.14 Bn | 214.18 Mn | 733.58 Mn | 88.68% |
| 10 | UP Fintech Holding | 13.78 Bn | 13.78 Bn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 98.77% |
| Mar 31, 2026 | 96.69% |
| Dec 31, 2025 | 99.97% |
| Sep 30, 2025 | 80.28% |
| Jun 30, 2025 | 66.77% |
| Mar 31, 2025 | 99.33% |
| Dec 31, 2024 | -170.33% |
| Sep 30, 2024 | -701.10% |
| Jun 30, 2024 | 78.19% |