Circle Q2 2026: revenue and reserve income $701M, up 7%; FY26 other revenue guidance raised

Circle reported Q2 2026 total revenue and reserve income of $701 million, up 7% year over year, with reserve income of $668 million, up 5%, as average USDC circulation grew 25% and the reserve return rate fell 66 basis points to 3.5%. Net income from continuing operations was $48 million, with diluted EPS of $0.18 and adjusted EBITDA of $143 million, up 8%. Circle raised its 2026 other revenue guidance to $310 million to $330 million from $150 million to $170 million and raised its RLDC margin guidance to 41.7% to 43.7% from 38% to 40%.

• Total revenue and reserve income $701M (+7%); reserve income $668M (+5%); other revenue $34M (+41%)
• Net income from continuing operations $48M; diluted EPS $0.18; adjusted EBITDA $143M (+8%)
• USDC in circulation $73.3B at quarter end (+19%); average USDC $76.5B (+25%); reserve return rate 3.5%
• FY2026 guidance: other revenue $310M to $330M (was $150M to $170M); RLDC margin 41.7% to 43.7% (was 38% to 40%)
• FY2026 adjusted operating expenses unchanged at $570M to $585M

SEC filing 8-K · accession 0001876042-26-000246 · sec.gov ↗