EddieJayonCrypto
1 Apr 25
Circle has formally filed for an IPO and aims to list its Class A common stock on the New York Stock Exchange under the ticker symbol "CRCL." The company reported $1.68 billion in total revenue and reserve income for the fiscal year ending December 31, 2023, with plans to use IPO proceeds for genera...
Circle has formally filed for an IPO and aims to list its Class A common stock on the New York Stock Exchange under the ticker symbol "CRCL." The company reported $1.68 billion in total revenue and reserve income for the fiscal year ending December 31, 2023, with plans to use IPO proceeds for general corporate purposes. The IPO will adopt a three-tier share structure, and the offering represents Circle's first attempt at a traditional IPO following previous postponed listing efforts.
The financial data reveals that for the fiscal year 2023, Circle reported $1.68 billion in total revenue and reserve income. The company's operating expenses for 2024 totaled $491.7 million, and net income from continuing operations was $156.9 million. Adjusted EBITDA for 2024 stood at $284.9 million. Circle also recorded $4.3 million in digital asset losses and impairments for the year and reported $54.4 million in other income.
Circle will adopt a three-tier share structure upon listing, ensuring that the company will not qualify as a "controlled company" under NYSE governance rules post-offering. Circle’s filing follows years of postponed listing efforts, including a terminated 2021 merger with a special purpose acquisition company (SPAC). The filing confirms that Circle’s shares have no prior public market. The company’s IPO remains subject to regulatory review and market conditions, with pricing details to be released in an updated filing before the listing date.