Circus (CA1) Industrial Technology Online Investor Conference summary

Business model and market focus

• Focuses on autonomous sustainment and nutrition robotics, targeting both commercial and defense sectors.

• Expanded into eight countries, including deployments for German and Ukrainian Armed Forces.

• Prioritizes enterprise customers and large-scale integrations over small-scale or single-unit buyers.

• Leasing contracts now dominate new customer agreements, shifting away from upfront CapEx sales.

• Piloting and promoting solutions with major retail partners, notably REWE, across multiple cities.

Product development and innovation

• Holds over 50 patents, establishing a leading IP position in autonomous cooking technology.

• Tripled production capacity since Q4 last year, now producing 8–16 units per month with further growth planned.

• Launched new products, including the CA-M and Alberts, expanding the portfolio for various use cases.

• Introduced a software-only AI product for ingredient quality control, leveraging the FullyAI acquisition.

• Software stack includes over 20 microservices, with high-margin SaaS revenues (EUR 4,000–12,000/month per system).

Financials and growth outlook

• Achieved significant margin improvement on ingredients, now exceeding 30% versus previous 2–4%.

• Raised EUR 50 million in fresh capital last year, supporting R&D and international expansion.

• Profitability targeted for 2027–2028, depending on international growth and U.S. market entry.

• Order backlog expected to be cleared by 2027, with ongoing efforts to secure new orders for future capacity.

• Maintains stable supply chain risk profile with multiple suppliers per component.