Circle Internet Group Earnings Recaps
Q2 2026
Aug 7, 2026
Circle’s Q2 results were largely in line with expectations, as reflected by a flat stock reaction despite solid top-line growth and regulatory progress. Investors appear to have weighed the company’s steady operational metrics against the absence of significant upside surprises.
Key takeaways
- USDC in circulation grew 20% year-over-year to $73.3 billion.
- Total revenue and reserve income reached $701 million, with adjusted EBITDA margins remaining stable.
- Average daily USDC minting and redemption hit $1.9 billion, up 105% year-over-year.
- On-chain transaction volume grew 151% year-over-year, averaging $163 billion daily in Q2.
- Circle secured its OCC National Trust Bank charter and additional trust charter from New York, underpinning regulatory credentials.
Q1 2026
May 12, 2026
The stock surged 15.9% post-earnings, driven by substantial onchain transaction volume growth and strong revenue expansion that clearly beat investor expectations.
Key takeaways
- USDC circulation reached $77 billion, up 28% year-over-year, underpinning network strength.
- Onchain transaction volume soared 263% to $21.5 trillion, signaling accelerated platform usage.
- Total revenue and reserve income rose 20% year-over-year to $694 million.
- Adjusted EBITDA improved 24% year-over-year to $151 million, maintaining a healthy 53% margin.
- Significant progress on platform initiatives including the Arc network presale which raised $222 million at a $3 billion valuation.
Q3 2025
Nov 14, 2025
Circle Internet Group reported strong Q3 2025 results, characterized by significant growth in both revenue and USDC circulation, reflecting its expanding market share in the stablecoin landscape.
Key takeaways
- Total revenue increased 66% year-over-year to $740 million, with adjusted EBITDA up 78% to $166 million and a robust 57% margin.
- USDC in circulation surged 108% year-over-year, reaching $73.7 billion, while on-chain transactions using USDC grew 580% to $9.6 trillion.
- Circle successfully launched Arc into public testnet and is exploring the launch of a native token to enhance utility and governance.
- The company expanded its stablecoin network with five new chain launches, supporting a total of 28 chains, and captured a 29% market share in the stablecoin sector.