Cricut Q2 2026 profit jumps as IEEPA tariff refunds, royalty settlement lift margins, company says

• Cricut posted Q2 2026 revenue of $156.3 million, down 9%, citing a tougher comparison from tariff-related pull-forward demand a year earlier.
• Platform revenue rose 5% to $85 million as paid subscribers increased 3% to just over 3.1 million; ARPU climbed 5% to $56.37.
• Products revenue fell 22% to $71.3 million on lower volumes and promotional pricing, despite double-digit cutting machine sell-through growth led by Joy 2 and Explore 5 bundles.
• Gross margin widened to 74.5% on $17.9 million of tariff refunds and a $6.4 million release of royalty-related reserves; net income was $39.1 million.
• Management expects platform revenue to grow sequentially through 2026, with typical seasonal subscriber softness in Q3, while remaining profitable each quarter.

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