Circle Crushes Q4 Earnings Estimates with 77% Revenue Growth
Circle's fourth-quarter revenue reached $770 million, up 77% year-over-year, exceeding analyst estimates. The company reported a 412% jump in adjusted EBITDA to $167 million and a net income from continuing operations of $133 million.
The USDC stablecoin circulation topped $75.3 billion at year-end, representing a 72% increase from the previous year. Circle guided to a 40% compound annual growth rate in USDC circulation over the coming years.
Circle's CEO, Jeremy Allaire, stated that USDC growth is decoupling from bitcoin price cycles, with adoption driven more by payments, treasury management, and financial infrastructure. He acknowledged growing competition from major banks entering stablecoins but emphasized that scale and network effects tend to consolidate activity among a small number of issuers.