Cricut Inc Cl A Down 1.24% To $4.77 After Earnings Meet

Cricut Inc Cl A (CRCT) said after close Tuesday that it earned $0.05 per share in quarter four 2023.

On the revenue line, the company reported $231.2 million, missing estimates by $18.4 million.

In the same quarter a year ago, the company earned $0.05 per share on revenue of $280.8 million.

The stock is down 1.24% to $4.77 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

Wall Street Analysts had an average rating of Sell on the stock prior to the report.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 29. Meanwhile, the average Wall Street analyst rated the stock a Sell.

Cricut Inc designs and builds a creativity platform that enables users to turn ideas into professional-looking handmade goods. With its connected machines, design apps and accessories, and materials, the users create everything from personalized birthday cards, mugs, and T-shirts to large-scale interior decorations. It derives revenues from three segments including Connected machines, Subscriptions, and Accessories and materials. It derives maximum revenue from the Accessories and Materials segment through the sales of Cricut EasyPress, hand tools, machine replacement tools and blades, project materials such as vinyl and iron-on, and sales of a la carte digital content purchases, including fonts, images, and projects.