Circle Reports Q3 Growth and 5% Workforce Reduction

Circle Internet Group reported $865 million in revenue and reserve income for the third quarter of 2026, up 17% from a year earlier, and disclosed that it had reduced its workforce by approximately 5%. The company recorded $9.1 million in restructuring expenses, mainly for employee notice periods, severance, benefits and related costs, according to its earnings release on November 4. Circle said the reduction was intended to better align its organizational structure with its operating model and strategic priorities. It did not identify the affected departments or state how many employees were involved. The company also did not provide an estimate of savings from the restructuring. Net income from continuing operations rose 5% to $226 million, while adjusted EBITDA increased 85% to $317 million. Operating expenses climbed 16% year over year to $245 million, with the company citing higher administrative, information technology infrastructure and marketing costs. Adjusted operating expenses rose 13% to approximately $139 million. A significant portion of the quarter’s other revenue came from a one-time ARC token presale. Circle reported $207 million in other revenue, including...