Circle Internet Group (NYSE:CRCL) stock gained after it reported second-quarter results on Tuesday. The company reported a quarterly revenue growth of 53% year-over-year (Y/Y) to $658.08 million, topping the analyst consensus estimate of $540.02 million.
The quarterly adjusted EPS loss of 43 cents beat the analyst consensus estimate of 46 cents.
Reserve income increased 50% Y/Y to $634 million, primarily from the 86% growth in average USDC in circulation, partially offset by a 103 bps decline in the reserve return rate.
Also Read: Circle Announces Stablecoin Payment Blockchain Arc
Other revenue increased 252% Y/Y to $24 million as Subscription and Services Revenue and Transaction Revenue grew strongly.
USD Coin (CRYPTO: USDC/USD) in circulation grew 90% Y/Y to $61.3 billion at quarter end, and has grown an additional 6.4% to $65.2 billion as of August 10, 2025.
The company reported a net loss of $482 million, primarily driven by $591 million in non-cash impacts, $424 million from stock-based compensation tied to IPO vesting conditions and $167 million from a higher fair value of convertible debt due to the rise in its share price.
The adjusted EBITDA grew by 52% Y/Y to $125.8 million, and the margin expanded 463 bps to 50% reflecting the ongoing growth of USDC in circulation and its inherent operating leverage.
Circle’s Co-Founder, CEO and Chairman Jeremy Allaire highlighted the company’s strong second-quarter performance, its first as a public company, marked by sustained platform growth, adoption across varied use cases, and partnerships with leading industry players.
He emphasized that the company’s $1.2 billion IPO in June represented a pivotal milestone for both Circle and the broader stablecoin market, accelerating interest in building on stablecoins and forging partnerships across major financial sectors, global internet companies, and commercial markets worldwide.
Price Action: CRCL stock is trading higher by 6.73% to $172.00 premarket at last check Tuesday.
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