Robert Frederick

It was $160 million, which is the size of many IPOs.

Oh, well, Circle is a middleware solution.

It's a platform, a SaaS platform, if you know what that means.

And we license our technology.

We license templates that leverage that technology across multiple verticals, automotive, smart buildings.

retail, healthcare, and of course, developer services like SDKs and APIs so that others can actually benefit and generate their own solutions on top.

Actually, we're one of the few that has our license pay-as-you-go

as well as we have hardware components that people purchase and license and or lease from us over the course of multiple years.

So we tend to be in multiple sort of areas, not just

single you know uh particular robert if you were to break down the revenue streams is caught north of 80 percent coming from sass or is it more diverse than that it's more split up more so uh when it comes to revenue it's a combination of uh sass as well as hardware um yeah so what's the split i'm curious what the split is oh it's it's probably around 70 30 okay um when it comes comes

to software to 30% harder, if that makes sense.

Well, it's kind of different.

Can I sort of explain a little bit about what the hardware does?

Yeah, of course.

So we actually have patented hardware with multiple radios inside of it.

And those radios, when you place the devices in the right configuration around a room or a space, hallways, whatever, a stadium...

a hotel, a casino, a hospital, you name it, a retail store, it can actually determine down to, I call it show or we call it shoulder to shoulder accuracy of where everyone in that particular building is located or where the devices are in that building.

And then we historically can show and in real time where someone's going and

where someone's dwelling.

Let's say they're staying in a line at the grocery store.