ADDED
(Exact name of registrant as specified in its charter) Delaware 333-258582 99-2840247 (State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S.
F ollow-on Public Offering In August 2025, the Company completed a follow-on public offering of its Class A common stock, in which the Company issued and sold 3.5 million shares of its Class A common stock, including the underwriters over-allotment option which was exercised in full, at a public offering price of $ 130.00 per share.
This resulted in net proceeds to the Company of $ 444.8 million after deducting the underwriting discounts and commissions and before deducting offering costs of $ 1.8 million, which were charged to additional paid-in capital as a reduction of the net proceeds received from the follow-on public offering.
All intercompany balances and transactions have been eliminated on consolidation.
AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS Cash and cash equivalents segregated for the benefit of stablecoin holders and Cash and cash equivalents segregated for corporate-held stablecoins Cash and cash equivalents segregated for the benefit of stablecoin holders and Cash and cash equivalents segregated for corporate-held stablecoins represent cash and cash equivalents maintained in segregated accounts that are held for the exclusive benefit of customers and stablecoin holders, including stablecoins held by the Company.
If no quoted market price is available, digital assets are measured at fair value using a cost approach or other comparable approach.
In September 2025, the FASB issued Accounting Standards Update No.
2025-06, Targeted Improvements to the Accounting for Internal-Use Software ( ASU 2025-06 ).
ASU 2025-06 removes all references to software development project stages under the existing standard and states that an entity is required to start capitalizing software costs when (1) management has authorized and committed to fund the software project and (2) it is probable that the project will be completed and the software will be used to perform the function intended (the probable-to-complete recognition threshold ).
The new standard also states that an entity must assess whether significant development uncertainty exists in determining whether it has met the probable-to-complete recognition threshold.
REMOVED
(Exact name of registrant as specified in its charter) Delaware 99-2840247 (State or other jurisdiction of incorporation or organization) (I.R.S.
All intercompany balance and transactions have been eliminated on consolidation.
Cash and cash equivalents segregated for the benefit of stablecoin holders and Cash and cash equivalents segregated for corporate-held stablecoins Cash and cash equivalents segregated for the benefit of stablecoin holders and Cash and cash equivalents segregated for corporate-held stablecoins represent cash and cash equivalents maintained in segregated accounts that are held for the exclusive benefit of customers and stablecoin holders, including stablecoins held by the Company.
Lease Cost Three months ended June 30, Six months ended June 30, 2025 2024 2025 2024 Operating lease cost $ 834 $ 1,108 $ 1,672 $ 2,226 Short-term lease cost $ 165 $ 248 $ 332 $ 483 Supplemental balance sheet information related to leases is as follows (in thousands): Table 4.2.
Details of Lease Right-of-use Assets and Liabilities June 30, 2025 December 31, 2024 Operating lease right-of-use assets $ 14,933 $ 15,493 Operating lease liabilities - current 2,704 2,637 Operating lease liabilities - non-current 12,725 13,074 Total operating lease liabilities $ 15,429 $ 15,711 Operating lease liabilities are included in Other current liabilities and Other non-current liabilities on the unaudited Condensed Consolidated Balance Sheets, while operating lease right-of-use assets are included in Other non-current assets on the unaudited Condensed Consolidated Balance Sheets.
Weighted-average Lease Terms and Discount Rates June 30, 2025 December 31, 2024 Weighted-average remaining lease term 7.8 years 8.3 years Weighted-average discount rates 13.3 % 12.8 % 17 CIRCLE INTERNET GROUP, INC.
AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS Maturities of lease liabilities under operating leases are as follows (in thousands): Table 4.4.
Maturities of Lease Liabilities Years ending December 31, 2025 (remaining 6 months) $ 1,664 2026 3,146 2027 3,199 2028 2,791 2029 3,058 Thereafter 11,944 Total lease payments 25,802 Less: imputed interest 10,373 Total lease liabilities $ 15,429 5.
AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS Total amortization expense of intangible assets was $ 13.6 million and $ 12.2 million for the three months ended June 30, 2025 and 2024, respectively, and $ 27.1 million and $ 23.3 million for the six months ended June 30, 2025 and 2024, respectively.
Amortization expense on internally developed software was $ 12.3 million and $ 10.3 million for the three months ended June 30, 2025 and 2024, respectively, and $ 24.4 million and $ 19.4 million for the six months ended June 30, 2025 and 2024, respectively.