Circle Internet Group’s (CRCL) stock is up 8% after the stablecoin issuer reported strong financial results for its first print as a publicly traded company.
Circle announced a 53% year-over-year increase in its revenue, which rose to $658.1 million U.S. in this year’s second quarter from $430 million U.S. in the same period of 2024.
The company reported a net loss of -$4.48 U.S. a share, which was breakeven from a year ago. Circle is not yet profitable.
Management said the better-than-expected financial results were due largely to strong growth in stablecoins.
Circulation of Circle’s USDC stablecoin grew 90% from the previous year to reach $61.3 billion U.S. at the end of Q2 this year.
In terms of guidance, Circle projected between $75 million U.S. and $85 million U.S. in new revenue for the rest of 2025, and operating expenses of $475 million U.S. to $490 million U.S.
Circle also announced a new blockchain called “Arc” that is designed to be a network for stablecoin payments.
The Arc blockchain will be integrated across Circle’s platform and services and will begin testing among developers this autumn, said the company.
Circle is the second largest stablecoin issuer in the world, making up about 26% of the dollar-backed stablecoin market. Tether’s USDT controls 67% of the global stablecoin market.
In June of this year, Circle went public and since then its stock has risen 50% to trade at $161.17 U.S. per share.
