Circus (CA1) Status update summary

Strategic reset

• Moderating FY2026 deployment growth to improve operational scalability, reliability, autonomy and unit economics; some rollouts shift ~1–2 quarters into 2027, while the order backlog remains intact.

• Onboarding, integration and operator workflows have not scaled as planned; simplifying these processes is a prerequisite to accelerating deployments.

• Capital and operating focus remains on operational improvements, R&D, autonomous AI-robotics and supply-chain automation rather than scaling operating costs alongside revenue.

Deployment and customer traction

• 25 operational systems across seven countries, serving defense, employee catering and institutional use cases, including deployments in Ukraine and with the German Armed Forces, Mercedes-Benz and Meta.

• FY2026 plan targets up to 50 systems and 25+ enterprise clients; over 15 enterprise clients are live, and larger and smaller systems are expected to contribute roughly evenly.

• Defense deployments and tests are underway in Ukraine, Lithuania and with the German Armed Forces; Lithuania launch is planned for Q4 2026, with CA-M deployments targeted for 2027.

• Abu Dhabi launch is expected over the coming weeks, followed by Dubai; US commercial entry is targeted for 2027 after initial NSF certification.

• Strategic partnership launched with Secura Facility Services; Ukrainian market entry is a key FY2026 focus.

Operations, technology and supply

• Production quality, hardware and software maturity have advanced; recent uptime pressure and most downtime relate to human-dependent handling and operating processes.

• Operator handling time improved 16.4%; 31 ingredients have been introduced, and frozen supply-chain operations span six countries, with fresh ingredients in testing and broader rollout aimed for August.

• Mandatory ingredients are expected to generate 45%–50% margins from August, versus 2%–4% wholesaler kickbacks; production is outsourced to specialist partners.

• Celestica production resources are 60% higher YoY and support eight units in parallel; batch production and rail shipping improve deployment logistics, with reported cost savings over 40%.

• Ecosystem combines 40+ patents and certifications, proprietary software and AI, ingredient systems, maintenance, payments, marketing and service networks; dual-use certification and new small-space, high-throughput and outdoor/mobile systems expand the portfolio.