Circle Internet (CRCL) Operating Expenses (2024 - 2026)
Circle Internet (CRCL) posted Operating Expenses of $254.49 million for Q2 2026, down 55.9% from $576.72 million a year earlier but up 5.0% from the prior quarter.
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Analysis
Circle Internet (CRCL) Operating Expenses (2024 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Operating Expenses at Circle Internet was $961.56 million, down 0.8% year-over-year; for FY2025, it came in at $1.18 billion, up 139.9% from FY2024.
- In prior years, Circle Internet's Operating Expenses was $491.73 million in FY2024 (+8.5%) and $453.21 million in FY2023.
- Quarterly Operating Expenses has run from a low of $124.26 million in Q3 2024 to a high of $576.72 million in Q2 2025 over five years.
- On a year-over-year basis, Operating Expenses increased in four of the last five quarters, with growth averaging 104.7%.
- According to Business Quant data, Operating Expenses for the three prior quarters was $242.35 million (Q1 2026), $253.6 million (Q4 2025) and $211.13 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Cme | 109.27 Bn | 97.61 Bn | - | 595.90 Mn |
| 2 | Bank of New York Mellon | 98.55 Bn | 37.92 Bn | - | 3.44 Bn |
| 3 | Intercontinental Exchange | 91.26 Bn | 85.07 Bn | - | 1.28 Bn |
| 4 | Robinhood Markets | 85.47 Bn | 66.56 Bn | - | 734.00 Mn |
| 5 | Nasdaq | 57.27 Bn | 54.71 Bn | 1.48 Bn | 749.00 Mn |
| 6 | State Street | 46.11 Bn | 46.11 Bn | - | 2.66 Bn |
| 7 | Interactive Brokers | 36.17 Bn | 29.63 Bn | - | 440.00 Mn |
| 8 | Cboe Global Markets | 35.59 Bn | 27.25 Bn | 731.60 Mn | 255.60 Mn |
| 9 | Northern Trust | 30.73 Bn | 30.73 Bn | - | 1.64 Bn |
| 10 | Circle Internet | 20.06 Bn | 13.94 Bn | 288.85 Mn | 254.49 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 254.49 Mn |
| Mar 31, 2026 | 242.35 Mn |
| Dec 31, 2025 | 253.60 Mn |
| Sep 30, 2025 | 211.13 Mn |
| Jun 30, 2025 | 576.72 Mn |
| Mar 31, 2025 | 137.99 Mn |
| Dec 31, 2024 | 130.03 Mn |
| Sep 30, 2024 | 124.26 Mn |
| Jun 30, 2024 | 131.41 Mn |
API Access
Circle Internet Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=CRCL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "CRCL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=CRCL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();