Circle (CRLC) Stock Dips 11% Despite Strong Q3 Earnings as Expense Outlook Spooks Investors
Stablecoin issuer Circle delivered a 66% year-over-year revenue surge to $740 million in Q3 2025, with adjusted EBITDA climbing to $166 million. Yet shares tumbled 11% as the company raised its full-year expense guidance by $20 million—a MOVE that overshadowed the earnings beat.
CFO Jeremy Fox-Geen dismissed concerns about revenue compression amid anticipated rate cuts, stating the firm maintains growth through cycles. The stock remains 180% above its June IPO price but 60% below peak levels, reflecting market skepticism about rising operational costs.