vs
Side-by-side financial comparison of Circle Internet Group, Inc. (CRCL) and GPGI, Inc. (GPGI). Click either name above to swap in a different company.
Circle is a payments technology company. Funded by Jeremy Allaire and Sean Neville in 2013, it is currently headquartered in New York City and issues two types of stablecoin: USDC, which has a conversion rate pegged to the U.S. dollar, and EURC, which is euro-denominated. It also issues USYC, a tokenized money market fund.
CRCL vs GPGI — Head-to-Head
Income Statement — Q3 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $28.5M | $0 |
| Net Profit | $214.4M | — |
| Gross Margin | — | — |
| Operating Margin | — | — |
| Net Margin | 751.8% | — |
| Revenue YoY | 5113.5% | — |
| Net Profit YoY | 202.0% | 261.8% |
| EPS (diluted) | $0.64 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $0 | ||
| Q3 25 | $28.5M | $0 | ||
| Q2 25 | $23.8M | $0 | ||
| Q1 25 | — | $59.8M | ||
| Q4 24 | — | $100.9M | ||
| Q3 24 | $547.0K | $107.1M | ||
| Q2 24 | $6.8M | $108.6M | ||
| Q1 24 | — | $104.0M |
| Q4 25 | — | — | ||
| Q3 25 | $214.4M | $-174.7M | ||
| Q2 25 | $-482.1M | $-26.1M | ||
| Q1 25 | — | $21.5M | ||
| Q4 24 | — | — | ||
| Q3 24 | $71.0M | $-42.1M | ||
| Q2 24 | $32.9M | $11.1M | ||
| Q1 24 | — | $4.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 48.1% | ||
| Q4 24 | — | 52.1% | ||
| Q3 24 | — | 51.7% | ||
| Q2 24 | — | 51.6% | ||
| Q1 24 | — | 53.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -1367.8% | — | ||
| Q1 25 | — | 10.1% | ||
| Q4 24 | — | 15.5% | ||
| Q3 24 | — | 27.2% | ||
| Q2 24 | — | 29.3% | ||
| Q1 24 | — | 29.9% |
| Q4 25 | — | — | ||
| Q3 25 | 751.8% | — | ||
| Q2 25 | -2025.3% | — | ||
| Q1 25 | — | 35.9% | ||
| Q4 24 | — | — | ||
| Q3 24 | 12979.2% | -39.3% | ||
| Q2 24 | 486.5% | 10.2% | ||
| Q1 24 | — | 3.9% |
| Q4 25 | — | — | ||
| Q3 25 | $0.64 | $-1.58 | ||
| Q2 25 | $-4.48 | $-0.26 | ||
| Q1 25 | — | $0.07 | ||
| Q4 24 | — | — | ||
| Q3 24 | $0.00 | $-1.10 | ||
| Q2 24 | $0.00 | $0.32 | ||
| Q1 24 | — | $0.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.3B | $114.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.0B | $243.1M |
| Total Assets | $76.8B | $517.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $114.6M | ||
| Q3 25 | $1.3B | $127.4M | ||
| Q2 25 | $1.1B | $4.8M | ||
| Q1 25 | — | $9.5M | ||
| Q4 24 | — | $77.5M | ||
| Q3 24 | $577.3M | $52.7M | ||
| Q2 24 | $457.5M | $35.4M | ||
| Q1 24 | — | $55.1M |
| Q4 25 | — | $243.1M | ||
| Q3 25 | $3.0B | $152.5M | ||
| Q2 25 | $2.4B | $-106.4M | ||
| Q1 25 | — | $-87.3M | ||
| Q4 24 | — | $-143.4M | ||
| Q3 24 | $557.7M | $-285.0M | ||
| Q2 24 | $460.9M | $-725.6M | ||
| Q1 24 | — | $-794.0M |
| Q4 25 | — | $517.3M | ||
| Q3 25 | $76.8B | $505.5M | ||
| Q2 25 | $64.2B | $317.3M | ||
| Q1 25 | — | $292.3M | ||
| Q4 24 | — | $473.9M | ||
| Q3 24 | — | $435.4M | ||
| Q2 24 | — | $213.4M | ||
| Q1 24 | — | $213.6M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-10.7M | $-22.9M |
| Free Cash FlowOCF − Capex | $-14.7M | — |
| FCF MarginFCF / Revenue | -51.7% | — |
| Capex IntensityCapex / Revenue | 14.2% | — |
| Cash ConversionOCF / Net Profit | -0.05× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-22.9M | ||
| Q3 25 | $-10.7M | $-11.9M | ||
| Q2 25 | — | $37.0K | ||
| Q1 25 | — | $3.0M | ||
| Q4 24 | — | $129.6M | ||
| Q3 24 | — | $29.4M | ||
| Q2 24 | — | $32.2M | ||
| Q1 24 | — | $33.8M |
| Q4 25 | — | — | ||
| Q3 25 | $-14.7M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $122.1M | ||
| Q3 24 | — | $27.8M | ||
| Q2 24 | — | $30.7M | ||
| Q1 24 | — | $32.1M |
| Q4 25 | — | — | ||
| Q3 25 | -51.7% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 121.1% | ||
| Q3 24 | — | 25.9% | ||
| Q2 24 | — | 28.3% | ||
| Q1 24 | — | 30.9% |
| Q4 25 | — | — | ||
| Q3 25 | 14.2% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.0% | ||
| Q4 24 | — | 7.3% | ||
| Q3 24 | — | 1.5% | ||
| Q2 24 | — | 1.4% | ||
| Q1 24 | — | 1.6% |
| Q4 25 | — | — | ||
| Q3 25 | -0.05× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.14× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 2.91× | ||
| Q1 24 | — | 8.39× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CRCL
| Subscription And Services Revenue | $23.6M | 83% |
| Transaction Services | $4.7M | 16% |
GPGI
Segment breakdown not available.
