By Hassan Shittu
Key highlights:
- Circle’s Q3 revenue and reserve income rose 17% to $865M, and adjusted EPS was $0.84 (vs. ~$0.37 expected), with adjusted EBITDA up 85% to $317M
- USDC’s average circulation rose 8% to $73.3B, but its stablecoin market share slipped to 27%, on-chain volume hit $13.9T (+49%), and the Circle Payments Network reached $41.3B in annualized volume
- Circle cut about 5% of its workforce ($9.1M restructuring cost), reaffirmed its ~$400M Tazapay acquisition, and kept 2026 guidance
Circle Internet Group reported a 17% increase in third-quarter revenue, beating Wall Street expectations as higher USDC transaction activity and proceeds from its new blockchain token sale boosted its results.
Notably, the company also reduced its workforce by approximately 5%.
Despite the revenue growth, Circle disclosed that it had reduced its workforce by approximately 5% during the third quarter.
The company recorded $9.1 million in restructuring expenses, primarily covering severance payments, employee benefits, and related costs.
Circle said the decision was intended to better align its organizational structure with its operating model and strategic priorities. It did not disclose the exact number of employees affected.
The restructuring comes as the company continues investing in its blockchain infrastructure and payment services.
Circle also maintained its full-year 2026 guidance, forecasting adjusted operating expenses of between $570 million and $585 million and other revenue of $310 million to $330 million.
Source:: Circle Post Strong Q3 Results as Revenue Rises 17% Despite 5% Workforce Cuts
