Circle Q3 earnings report: revenue of $740 million, net profit of $214 million, doubling year-over-year

Odaily Planet Daily reports that according to official disclosures, Circle’s USDC circulation reached $73.7 billion at the end of Q3, a 108% increase year-over-year; total revenue and reserve interest totaled $740 million, a 66% increase year-over-year; net profit was $214 million, up 202% year-over-year; and adjusted EBITDA was $166 million, up 78% year-over-year. In terms of operations, over 100 institutions have participated in the Arc public testnet, with the official stating that they are exploring issuing native tokens on the Arc network; the Circle Payments Network has 29 financial institutions onboarded, with a reserve pipeline of about 500 institutions; and new collaborations have been established with Brex, Deutsche Börse, Finastra, Fireblocks, Kraken, Itaú, and Visa. The company has raised its guidance for “other income” and RLDC profit margins for 2025 and expects USDC’s long-term compound annual growth rate to be approximately 40%.