Circle’s Q3 2026 financial results: stablecoin interest income fell, while a presale of ARC tokens helped boost performance.
Q3 2026:
Total revenue: $865 million, up 17%
Net income: $226 million, up 5%
Adjusted EBITDA: $317 million, up 85%
USDC reserve income: $658 million, down 8%
Most notably, other revenue totaled $207 million, of which $182 million came from the ARC token presale. That was equivalent to 21% of total revenue for the quarter.
Circle is transforming from a company that earns interest on stablecoin reserves into a provider of public blockchain, payments, and on-chain financial infrastructure.
Token sales can generate a one-time revenue boost, but long-term valuation ultimately depends on the ability to generate sustained earnings.
The three key metrics to watch going forward are USDC circulation, payments revenue, and actual usage of the Arc ecosystem.
Q3 2026:
Total revenue: $865 million, up 17%
Net income: $226 million, up 5%
Adjusted EBITDA: $317 million, up 85%
USDC reserve income: $658 million, down 8%
Most notably, other revenue totaled $207 million, of which $182 million came from the ARC token presale. That was equivalent to 21% of total revenue for the quarter.
Circle is transforming from a company that earns interest on stablecoin reserves into a provider of public blockchain, payments, and on-chain financial infrastructure.
Token sales can generate a one-time revenue boost, but long-term valuation ultimately depends on the ability to generate sustained earnings.
The three key metrics to watch going forward are USDC circulation, payments revenue, and actual usage of the Arc ecosystem.