Circle Posts $694 Million in Fiscal First-Quarter Revenue as USDC On-Chain Volume Jumps 263%

Minseung Kang

Summary

Circle said first-quarter fiscal 2026 total revenue and reserve income rose 20%% from a year earlier to $694 million.
Adjusted EBITDA increased 24%% to $151 million in the same period, while net income fell 15%% to $55 million.
First-quarter USDC circulation rose 28%% to $77 billion and on-chain volume surged 263%% to $21.5 trillion, but Circle’s share price gave up earlier gains.

Forecast Trend Report by Period

Circle Internet Group Inc., the issuer of the USDC stablecoin, posted $694 million in revenue in the first quarter of fiscal 2026. USDC circulation and on-chain transaction volume also rose sharply, extending growth in its stablecoin business.

Odaily reported on May 11 that Circle’s total revenue and reserve income for the quarter increased 20% from a year earlier to $694 million.

Adjusted EBITDA rose 24% to $151 million in the same period. Net income, however, fell 15% from a year earlier to $55 million.

USDC continued to expand as well. Circulating supply stood at $77 billion at the end of the first quarter, up 28% from a year earlier. First-quarter USDC on-chain volume surged 263% to $21.5 trillion.

Still, Circle shares gave up earlier gains after the earnings release. The stock, which trades under the ticker CRCL, was at $112.79 in premarket US trading.