Earnings call transcript: Circus posts Q3 2026 operational gains as shares slip

Circus reported Q3 2026 financial results, highlighting a 25% reduction in its cost base and nearly tripling deployment speed. The company has expanded its customer base to 19 enterprises across eight countries and expects this number to grow to 30 by year-end. Circus's main product, CA-1, accounts for approximately 85% of its revenue, while the CA-A system has helped broaden the customer base and shorten sales cycles.

The company has reduced logistics and deployment costs by up to 80% by utilizing sea and rail transport in addition to air freight. Circus stated that its mature systems achieved a 93% uptime, up from around 70% in January, and it has served over 230,000 meals and portions, collecting more than 2 billion data points. The company expects to add 11 more enterprise customers in the second half of the year.

Management said the company is transitioning toward debt, leasing, and alternative financing to minimize equity dilution. The company's progress reflects a shift from the early commercial rollout phase to a more scalable operating model, with management emphasizing the growing demand for automated kitchen systems driven by labor shortages and rising costs.

Circus shares closed at $1.57, down 1.01% from the previous close of $1.59, trading near its 52-week low of $1.51.