diff --git a/.changeset/beige-planes-shave.md b/.changeset/beige-planes-shave.md
new file mode 100644
index 0000000000..84e28fc0e4
--- /dev/null
+++ b/.changeset/beige-planes-shave.md
@@ -0,0 +1,5 @@
+---
+"@sumup/circuit-ui": patch
+---
+
+Fixed event and values handling for the experimental ColorInput component.
diff --git a/package-lock.json b/package-lock.json
index 7e18960f58..2c5fa57a87 100644
--- a/package-lock.json
+++ b/package-lock.json
@@ -42143,7 +42143,7 @@
     },
     "packages/icons": {
       "name": "@sumup/icons",
-      "version": "4.1.0",
+      "version": "4.1.2",
       "license": "Apache-2.0",
       "devDependencies": {
         "@babel/core": "^7.25.2",
diff --git a/packages/circuit-ui/components/ColorInput/ColorInput.module.css b/packages/circuit-ui/components/ColorInput/ColorInput.module.css
index 4803a1b778..385826e27f 100644
--- a/packages/circuit-ui/components/ColorInput/ColorInput.module.css
+++ b/packages/circuit-ui/components/ColorInput/ColorInput.module.css
@@ -26,6 +26,12 @@
   box-shadow: 0 0 0 2px var(--cui-border-focus);
 }
 
+.picker[data-disabled="true"] {
+  color: var(--cui-fg-normal-disabled);
+  background-color: var(--cui-bg-normal-disabled);
+  box-shadow: 0 0 0 1px var(--cui-border-normal-disabled);
+}
+
 .color-input {
   width: var(--cui-spacings-giga);
   height: var(--cui-spacings-giga);
diff --git a/packages/circuit-ui/components/ColorInput/ColorInput.spec.tsx b/packages/circuit-ui/components/ColorInput/ColorInput.spec.tsx
index 2ba0e907fd..ea43d78306 100644
--- a/packages/circuit-ui/components/ColorInput/ColorInput.spec.tsx
+++ b/packages/circuit-ui/components/ColorInput/ColorInput.spec.tsx
@@ -13,10 +13,16 @@
  * limitations under the License.
  */
 
-import { describe, expect, it } from 'vitest';
+import { describe, expect, it, vi } from 'vitest';
 import { createRef } from 'react';
 
-import { render, axe, screen } from '../../util/test-utils.js';
+import {
+  render,
+  axe,
+  screen,
+  fireEvent,
+  userEvent,
+} from '../../util/test-utils.js';
 import type { InputElement } from '../Input/index.js';
 
 import { ColorInput } from './ColorInput.js';
@@ -61,4 +67,132 @@ describe('ColorInput', () => {
       );
     });
   });
+
+  it('should set value and default value on both inputs', () => {
+    const { container } = render(
+      <ColorInput {...baseProps} defaultValue="#ff11bb" />,
+    );
+    const colorPicker = container.querySelector(
+      "input[type='color']",
+    ) as HTMLInputElement;
+    const colorInput = container.querySelector(
+      "input[type='text']",
+    ) as HTMLInputElement;
+    expect(colorPicker.value).toBe('#ff11bb');
+    expect(colorInput.value).toBe('ff11bb');
+  });
+
+  describe('Synchronization', () => {
+    it('should update text input if color input changes', async () => {
+      const { container } = render(<ColorInput {...baseProps} />);
+      const colorPicker = container.querySelector(
+        "input[type='color']",
+      ) as HTMLInputElement;
+      const newValue = '#00ff00';
+
+      fireEvent.input(colorPicker, { target: { value: newValue } });
+
+      const colorInput = container.querySelector(
+        "input[type='text']",
+      ) as HTMLInputElement;
+      expect(colorInput.value).toBe(newValue.replace('#', ''));
+    });
+
+    it('should update color input if text input changes', async () => {
+      const { container } = render(<ColorInput {...baseProps} />);
+      const colorInput = container.querySelector(
+        "input[type='text']",
+      ) as HTMLInputElement;
+      const newValue = '00ff00';
+
+      await userEvent.type(colorInput, newValue);
+
+      const colorPicker = container.querySelector(
+        "input[type='color']",
+      ) as HTMLInputElement;
+      expect(colorPicker.value).toBe(`#${newValue}`);
+    });
+  });
+
+  describe('OnChange events', () => {
+    it('should trigger onChange event when color picker changes', async () => {
+      const onChange = vi.fn();
+      const { container } = render(
+        <ColorInput {...baseProps} onChange={onChange} />,
+      );
+
+      const colorPicker = container.querySelector(
+        "input[type='color']",
+      ) as HTMLInputElement;
+
+      fireEvent.input(colorPicker, { target: { value: '#00ff00' } });
+
+      expect(onChange).toHaveBeenCalledTimes(1);
+    });
+
+    it('should trigger onChange event when color hex input changes', async () => {
+      const onChange = vi.fn();
+      const { container } = render(
+        <ColorInput {...baseProps} onChange={onChange} />,
+      );
+
+      const colorInput = container.querySelector(
+        "input[type='text']",
+      ) as HTMLInputElement;
+
+      await userEvent.type(colorInput, '00ff00');
+
+      expect(onChange).toHaveBeenCalled();
+    });
+  });
+
+  describe('Paste', () => {
+    it('should handle paste events', async () => {
+      const { container } = render(<ColorInput {...baseProps} />);
+      const colorInput = container.querySelector(
+        "input[type='text']",
+      ) as HTMLInputElement;
+
+      await userEvent.click(colorInput);
+      await userEvent.paste('#00ff00');
+
+      const colorPicker = container.querySelector(
+        "input[type='color']",
+      ) as HTMLInputElement;
+      expect(colorPicker.value).toBe('#00ff00');
+      expect(colorInput.value).toBe('00ff00');
+    });
+
+    it('should ignore invalid paste event', async () => {
+      const { container } = render(<ColorInput {...baseProps} />);
+      const colorInput = container.querySelector(
+        "input[type='text']",
+      ) as HTMLInputElement;
+
+      await userEvent.click(colorInput);
+      await userEvent.paste('obviously invalid');
+
+      const colorPicker = container.querySelector(
+        "input[type='color']",
+      ) as HTMLInputElement;
+      expect(colorPicker.value).toBe('#000000');
+      expect(colorInput.value).toBe('');
+    });
+
+    it("should allow pasting color without '#'", async () => {
+      const { container } = render(<ColorInput {...baseProps} />);
+      const colorInput = container.querySelector(
+        "input[type='text']",
+      ) as HTMLInputElement;
+
+      await userEvent.click(colorInput);
+      await userEvent.paste('00ff00');
+
+      const colorPicker = container.querySelector(
+        "input[type='color']",
+      ) as HTMLInputElement;
+      expect(colorPicker.value).toBe('#00ff00');
+      expect(colorInput.value).toBe('00ff00');
+    });
+  });
 });
diff --git a/packages/circuit-ui/components/ColorInput/ColorInput.stories.tsx b/packages/circuit-ui/components/ColorInput/ColorInput.stories.tsx
index f9a264367a..00715861df 100644
--- a/packages/circuit-ui/components/ColorInput/ColorInput.stories.tsx
+++ b/packages/circuit-ui/components/ColorInput/ColorInput.stories.tsx
@@ -23,7 +23,8 @@ export default {
 const baseArgs = {
   label: 'Color',
   pickerLabel: 'Pick color',
-  placeholder: '99ffbb',
+  placeholder: '#99ffbb',
+  defaultValue: '#99ffbb',
 };
 
 export const Base = (args: ColorInputProps) => (
diff --git a/packages/circuit-ui/components/ColorInput/ColorInput.tsx b/packages/circuit-ui/components/ColorInput/ColorInput.tsx
index 0947bc68b4..15f1cfbc4f 100644
--- a/packages/circuit-ui/components/ColorInput/ColorInput.tsx
+++ b/packages/circuit-ui/components/ColorInput/ColorInput.tsx
@@ -19,8 +19,8 @@ import {
   forwardRef,
   useId,
   useRef,
-  useState,
   type ChangeEventHandler,
+  type ClipboardEventHandler,
 } from 'react';
 
 import { classes as inputClasses } from '../Input/index.js';
@@ -80,6 +80,7 @@ export const ColorInput = forwardRef<InputElement, ColorInputProps>(
       onChange,
       optionalLabel,
       validationHint,
+      placeholder,
       readOnly,
       required,
       inputClassName,
@@ -89,10 +90,8 @@ export const ColorInput = forwardRef<InputElement, ColorInputProps>(
     },
     ref,
   ) => {
-    const [currentColor, setCurrentColor] = useState<string | undefined>(
-      defaultValue,
-    );
     const colorPickerRef = useRef<InputElement>(null);
+    const colorInputRef = useRef<InputElement>(null);
 
     const labelId = useId();
     const pickerId = useId();
@@ -106,8 +105,45 @@ export const ColorInput = forwardRef<InputElement, ColorInputProps>(
 
     const hasSuffix = Boolean(suffix);
 
+    const handlePaste: ClipboardEventHandler<InputElement> = (e) => {
+      if (!colorPickerRef.current || !colorInputRef.current || readOnly) {
+        return;
+      }
+
+      e.preventDefault();
+
+      const pastedText = e.clipboardData.getData('text/plain').trim();
+
+      if (!pastedText || !/^#?[0-9A-F]{6}$/i.test(pastedText)) {
+        return;
+      }
+
+      const pastedColor = pastedText.startsWith('#')
+        ? pastedText
+        : `#${pastedText}`;
+
+      colorPickerRef.current.value = pastedColor;
+
+      // React overwrites the input.value setter. In order to be able to trigger
+      // a 'change' event on the input, we need to use the native setter.
+      // Adapted from https://stackoverflow.com/a/46012210/4620154
+      Object.getOwnPropertyDescriptor(
+        HTMLInputElement.prototype,
+        'value',
+      )?.set?.call(colorInputRef.current, pastedColor.replace('#', ''));
+
+      colorInputRef.current.dispatchEvent(
+        new Event('change', { bubbles: true }),
+      );
+      colorPickerRef.current.dispatchEvent(
+        new Event('change', { bubbles: true }),
+      );
+    };
+
     const onPickerColorChange: ChangeEventHandler<InputElement> = (e) => {
-      setCurrentColor(e.target.value);
+      if (colorInputRef.current) {
+        colorInputRef.current.value = e.target.value.replace('#', '');
+      }
       if (onChange) {
         onChange(e);
       }
@@ -117,7 +153,15 @@ export const ColorInput = forwardRef<InputElement, ColorInputProps>(
       if (colorPickerRef.current) {
         colorPickerRef.current.value = `#${e.target.value}`;
       }
-      setCurrentColor(`#${e.target.value}`);
+      if (onChange) {
+        onChange({
+          ...e,
+          target: {
+            ...e.target,
+            value: `#${e.target.value}`,
+          },
+        });
+      }
     };
 
     return (
@@ -131,21 +175,29 @@ export const ColorInput = forwardRef<InputElement, ColorInputProps>(
           />
         </FieldLegend>
         <div className={classes.wrapper}>
-          <label htmlFor={pickerId} className={classes.picker}>
+          <label
+            htmlFor={pickerId}
+            className={classes.picker}
+            data-disabled={disabled}
+          >
             <input
               id={pickerId}
+              ref={applyMultipleRefs(colorPickerRef, ref)}
               type="color"
               aria-labelledby={labelId}
               aria-describedby={descriptionIds}
               className={classes['color-input']}
               onChange={onPickerColorChange}
-              ref={applyMultipleRefs(colorPickerRef, ref)}
               readOnly={readOnly}
+              disabled={disabled}
+              defaultValue={defaultValue}
+              value={value}
             />
           </label>
           <span className={classes.symbol}>#</span>
           <input
             id={id}
+            ref={colorInputRef}
             type="text"
             aria-labelledby={labelId}
             aria-describedby={descriptionIds}
@@ -158,12 +210,15 @@ export const ColorInput = forwardRef<InputElement, ColorInputProps>(
             )}
             aria-invalid={invalid && 'true'}
             required={required}
-            disabled={disabled}
             maxLength={6}
             pattern="[0-9a-f]{3,6}"
             readOnly={readOnly}
-            value={currentColor ? currentColor.replace('#', '') : undefined}
+            disabled={disabled}
+            value={value?.replace('#', '')}
+            defaultValue={defaultValue?.replace('#', '')}
+            placeholder={placeholder?.replace('#', '')}
             onChange={onInputChange}
+            onPaste={handlePaste}
             {...props}
           />
         </div>