Cricut’s journey to faster rebate reconciliation and simplified SEC compliance

Cricut, Inc. is a creative technology company based in Utah, USA known for its family of smart cutting machines, like Maker and Explore, that help users create personalized DIY projects. Founded in 1969 and rebranded in 2018, Cricut offers a cloud-based design platform and subscription service for crafting resources. The company went public in 2021 and focuses on empowering creativity with easy-to-use tools and materials.

The Challenge:

Cricut’s finance and accounting teams faced multiple operational hurdles. On one hand, managing an increasing volume of rebate invoices from diverse retail partners was cumbersome due to varying file formats and proprietary product codes, making reconciliation complex and time-consuming—often requiring weeks to clean and standardize data before answering basic questions like “What is the rebate value payable split by retailer?”

On the other hand, as a publicly listed company, Cricut had to ensure strict compliance with SEC reporting standards and global accounting regulations. This meant deep, ongoing research across multiple dense and unstructured documents—10-Ks, 10-Qs, 20-Fs, ASC, and IFRS standards—that were scattered, difficult to search, and required painstaking manual parsing under tight deadlines.

The Solution:

Numero’s AI-powered platform transformed both challenges into streamlined workflows. For rebate management, Numero scanned rebate invoices, automatically categorizing line items by retailer and campaign, and integrated seamlessly with Cricut’s ERP (SAP) to standardize product codes across partners. This delivered clean, structured data instantly, accessible for analysis or on-demand reporting.

For regulatory compliance, Numero provided a centralized, AI-native research hub that aggregated global financial filings and accounting standards in one place. Cricut’s teams could now query complex regulatory topics in plain English—such as disclosure practices or accounting treatments—and receive fast, precise, source-linked answers without manual searching or toggling between documents.

The Result:

With Numero’s intelligent extraction and semantic search capabilities, Cricut’s finance team replaced manual, multi-week rebate reconciliation with instant access to clean, structured data—saving time and manpower. 

Simultaneously, the accounting team gained a unified workspace for SEC and accounting guidance research, accelerating compliance workflows and enabling confident, timely decision-making.