Flag profit concerns as an analyst for USDC exporter apartment IPO

USD Coin (USDC) exporter Circle Internet Financial applied for the first public offering (public offering) because of the company’s analyst concerns about profitability.

Firm Posted S-1 If approved, the company’s Stock Exchange Commission (SEC), which will see the stock trade in the New York Stock Exchange under the “CRCL” symbol.

The USDC exporter is not the first attempt to open a public

Apartment– The second largest stablecoin exporter with its market value, CEO Jeremy Allire was the first attempt to combine the spac, which failed to complete the company’s “timely qualification”.

The reports at that time claimed that SEC had chosen to sign up in Circle’s plans, but the company rejected these claims.

Apartment He then tried a different approach for his second attempt, and in January last year, he offered a draft record for the first public offering with SEC. This process has been dragged so far due to the hostile stance of the regulator against the crypto industry under the former president Gary Gensler.

Analysts emphasized their profitability concerns

While Circle refers to a public offering for a public offering, analysts expressed their concerns about the company’s long -term expectations.

The company’s files showed $ 1,67 billion of 2024 revenue. Although this is a remarkable increase compared to the previous years, a closer study shows difficulties for the company.

Matthew Sigel, President of Vanck’s Digital Asset Survey, said Circle’s pre -interest, tax, depreciation and depreciation (EBITDA) earnings decreased by 29%. In addition, the company’s net income fell by 42%.

🚨 Apartment files for IPO

1.7 billion dollars income (+16% y/y)
285 million dollars $ ebidta (-29% y/y)
155 million dollars net income (-42%) pic.twitter.com/qhldpakfrr

– Matthew Sigel, saving CFA (@matthew_sigel) April 1, 2025

Sigel attributed the decrease in net income to rapid expansion, expensive service integrations, and interruption of income flows, including apartment yield.

Nick Van Eck, CEO and founding partner of Agora, also noted on April 1 post This makes us more money from Coinbase, Coinbase, USDC.

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