Cricut Inc. unveiled the Cricut Maker 5 on September 3, a smart cutting and engraving machine that cuts materials up to 3 mm thick, a 25% jump from the prior generation's 2.4 mm ceiling, and is 30% more compact than earlier Maker models while keeping the same 12-inch cutting performance. Bundles start at $349 in a new Slate Blue color, with a Teal version sold exclusively through Michaels for the first two weeks after the September 4, 2026 launch before a wider retail rollout. The launch follows a second quarter in which platform revenue reached $85.0 million, up more than 5% year over year, as paid subscribers climbed 3% to 3.1 million and platform ARPU rose 5% to $56.37, lifting gross margin to 74.5% from 59.0% and net income 59% to $39.1 million, or $0.19 per diluted share. That platform strength contrasts with the hardware side of the business, where products revenue fell 22% year over year to $71.3 million and dragged total second quarter revenue down 9% to $156.3 million, while active users rose just 1% to nearly 6.0 million and 90-Day Engaged Users were flat at 3.5 million. Hedge fund ownership held steady at 19 funds, and short interest sits at 8.78% of the float, leaving the market to watch whether the Maker 5 can reverse the product slide.
Cricut IncHardware products revenue fell 22% year over year and dragged total Q2 revenue down 9%, offsetting platform strength.
