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.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Morgan Stanley | 338.83 Bn | 205.30 Bn | - | - |
| 2 | Goldman Sachs | 316.34 Bn | -660.01 Bn | - | - |
| 3 | Schwab Charles | 220.55 Bn | 135.80 Bn | - | - |
| 4 | Futu Holdings | 121.48 Bn | 105.59 Bn | 733.58 Mn | 206.12% |
| 5 | Robinhood Markets | 84.07 Bn | 66.74 Bn | 1.20 Bn | 92.05% |
| 6 | Iren | 68.17 Bn | 65.95 Bn | 104.86 Mn | 72.42% |
| 7 | ATIF Holdings | 45.42 Bn | 45.42 Bn | - | - |
| 8 | Interactive Brokers | 39.54 Bn | -3.28 Bn | - | - |
| 9 | LPL Financial Holdings | 28.27 Bn | 25.57 Bn | - | - |
| 10 | Circle Internet | 14.80 Bn | 13.28 Bn | 40.25 Mn | 96.69% |
Historic Data
Download Data| Date | Value |
|---|---|
| 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% |