Circle Internet Group Reports 6.6% Revenue Growth and $48.2 Million Net Income in Q2 2026

Circle Internet Group, Inc. reported a notable financial performance for the second quarter of 2026, with total revenue and reserve income reaching $701.3 million, a 6.6% increase from $658.1 million in the same period last year. The company’s reserve income, which constitutes the majority of its revenue, grew by 5.3% to $667.7 million, driven by a 25.2% increase in average daily USDC in circulation. However, this growth was partially offset by a decline in average yields due to interest rate actions by the U.S. Federal Reserve. Other revenue surged by 41.1% to $33.6 million, attributed to increased integration services and fund management fees.

In terms of profitability, Circle reported a net income of $48.2 million for the quarter, a significant turnaround from a net loss of $482.1 million in the prior year. This improvement was largely due to a decrease in operating expenses, which fell by 55.9% to $254.5 million, primarily because of the absence of substantial stock-based compensation expenses recognized in the previous year. The company’s adjusted EBITDA also increased by 14% to $143 million, reflecting a stable margin of 50%.

Operationally, Circle saw a 19% increase in USDC in circulation, amounting to $73.3 billion, and a remarkable 151% growth in USDC on-chain transaction volume, which reached $14.8 trillion. The number of meaningful wallets, defined as those holding $10 or more of USDC, rose to 7.01 million, up from 5.66 million a year earlier. The company continues to expand its geographic footprint and product offerings, with significant partnerships enhancing its market presence.

Strategically, Circle has made several key developments, including the launch of its Arc blockchain and the ARC Token presale, which generated approximately $242.2 million in gross proceeds. The company is also focused on enhancing its digital asset infrastructure and expanding its liquidity services. Looking ahead, Circle anticipates continued growth in USDC circulation and revenue, driven by increased adoption of its digital assets and ongoing product innovations. The company remains committed to a regulation-first approach, which it believes will position it favorably in the evolving financial landscape.