No one is having a better time in Matthew Vaughn’s “Kingsman: The Golden Circle” than Julianne Moore, which is saying something. The director’s first sequel (no, he didn’t direct “Kick-Ass 2,” yes, “X-Men: First Class” is its own franchise-starter) is as high energy and bonkers as anything he’s made yet. As the film’s primary baddie, nefarious drug kingpin Poppy, Moore gleefully zips her way through every wacky scene, bolstered by an inventive setting that speaks to Vaughn’s intense imagination and the scope of his off-kilter super-spy vision.

Yet, for all that crazy fun, “The Golden Circle” doesn’t go wild enough to break Vaughn’s well-set mold, instead fitting neatly inside his filmography alongside other action-heavy offerings. It’s fun, but it’s blockbuster overkill after an already-crowded summer season.

Picking up soon after the conclusion of 2014’s “Kingsman: The Secret Service,” the sequel...