Circle Internet Group, Inc. (NYSE:CRCL) shares fell 3% in premarket trading after the digital payments and stablecoin company reported first-quarter fiscal 2026 results that topped earnings expectations but missed revenue forecasts.
The company posted adjusted earnings per share of $0.21, exceeding analyst estimates of $0.18 per share.
Revenue Growth Misses Market Expectations
Total revenue and reserve income reached $694 million during the quarter, below the analyst consensus estimate of $715 million, although still representing 20% year-over-year growth.
Net income from continuing operations declined 15% from the prior-year period to $55 million.
Adjusted EBITDA increased 24% year-over-year to $151 million.
USDC Activity Continues to Expand Rapidly
Circle reported continued growth across its USDC stablecoin ecosystem.
USDC in circulation rose 28% year-over-year to $77.0 billion at the end of the quarter.
Meanwhile, onchain transaction volume involving USDC surged 263% to $21.5 trillion.
“Circle’s first quarter reflected strong execution against a much bigger opportunity: the rapid convergence of AI platforms and economic operating systems into a new internet stack,” said Co-Founder, Chief Executive Officer and Chairman Jeremy Allaire.
Company Expands AI and Blockchain Infrastructure Push
Circle also announced a $222 million presale raise for its ARC Token at a fully diluted network valuation of $3 billion.
Investors participating in the financing included a16z crypto, Apollo Funds, ARK Invest and BlackRock.
The company additionally introduced its new Agent Stack platform, which includes products such as Circle CLI, Agent Wallets and Agent Marketplace.
According to Circle, the platform is designed to help developers build agent-driven activity using USDC.
Full-Year Outlook Maintained
Circle reaffirmed its fiscal 2026 guidance, continuing to project other revenue between $150 million and $170 million.
The company also maintained its forecast for adjusted operating expenses in a range of $570 million to $585 million.
In addition, Circle reiterated its longer-term expectation for a 40% compound annual growth rate in USDC circulation.