Circle Files for IPO... Recorded $1.68 Billion in Revenue Last Year

Uk Jin

Summary

It was reported that Circle formalized its IPO and submitted the registration statement.
Last year's revenue reached $1.68 billion, but operating profit was revealed to have decreased.
JP Morgan and Citigroup were selected as the underwriters for the IPO.

Stablecoin issuer Circle has formalized its initial public offering (IPO) today.

On the 1st (local time), Bloomberg reported that Circle submitted the necessary registration statement (S-1) for the IPO to the Securities and Exchange Commission (SEC). The IPO underwriters have been selected as JP Morgan and Citigroup.

Bloomberg particularly noted the trend of Circle's revenue growth. According to the submitted documents, Circle recorded $1.68 billion in revenue in 2024, an increase of $230 million compared to the previous year. However, last year's operating profit was $156 million, showing a decrease of about $112 million compared to the previous year.

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