Circle (CIRC) Q1 2026 earnings summary

Executive summary

• Consolidated value of production reached €7.5 million in 1Q 2026, up 30% year-over-year from €5.8 million in 1Q 2025.

• Proprietary software products revenue rose 19% to €2.4 million, and Milos Federative Services grew 30% to €840,000 compared to 1Q 2025.

• Order backlog stood at €34.2 million at March 2026, providing visibility through 2027.

• Net financial position as of April 30, 2026, was cash positive by €5.3 million, or €7.3 million including EU receivables.

Outlook and guidance

• Growth trajectory is expected to continue, supported by digitalisation trends, regulatory changes (e-CMR, eFTI), and PNRR project completion by June 2026.

• Artificial Intelligence integration in MILOS® ecosystem is a strategic focus for enhancing logistics efficiency and interoperability.

• Continued investment planned in proprietary platforms, federated services, automation, and multimodal integration.

Segment performance

• Proprietary software products and SaaS offerings contributed €2.4 million, up 19% year-over-year.

• Milos Federative Services revenue reached €840,000, a 30% increase from 1Q 2025.

• Recently acquired Qmap will be consolidated from April 2026, expected to expand advanced infomobility and telematics solutions.