Circle released its Q1 2026 earnings report. Revenue came in at $694 million, up 20% year-over-year but below the consensus estimate of $720 million. Adjusted EBITDA was $151 million, up 24% YoY but down 10% sequentially. GAAP net income was $55 million, down 15% YoY and down 59% quarter-over-quarter. EPS was $0.21, beating the consensus estimate of $0.17 but falling short of the bull-case estimate of $0.25.
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