SIMBLE SOLUTIONS LIMITED For personal use only
Simble Solutions Limited (ASX:SIS) | ASX Announcement
Quarterly Activities Report - June 2022
Sydney, 27 July 2022: Smart energy Software-as-a-Service(SaaS) company Simble Solutions Limited (ASX:SIS) ('Simble' or 'the Company') is pleased to present its consolidated quarterly cash flow report and business update for the quarter ended 30 June 2022 (June Quarter or Q2 FY22).
Highlights
- Simble recorded solid sales activities across both Australia and UK during the quarter, with Receipts from Customers of $417K across all business units for the quarter, a 101% increase on the prior quarter.
- The Company and its staff are focused on revenue generation and new customer acquisition across both the CarbonView and SimbleSense product units.
- Simble continues to invest in sales and marketing activities and grow the sales pipeline, specifically with the direct digital advertising promotion of CarbonView to the enterprise market sector.
Sales & Marketing Update
Energy costs are front-page news across the World, in particular in our core markets of Australia and the UK. Additionally, there is rapidly growing concern and awareness of the imperative to move to carbon Net Zero.
Accordingly, the Company is experiencing greater interest in its carbon accounting and energy metering software products, delivering good sales momentum and industrial customer interest in Simble's core offerings.
Sales and marketing highlights for the quarter include:
- June was the Company's strongest sales month this calendar year, with orders from current and new customers, including David Brown Santasalo Group, Sylvania Lighting, Brownhills Glass and Bluewater (GA Harper) in the UK, and Solar Energy Enterprises and Juice Capital in Australia.
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Simble Solutions Limited, Level 2, 383 George Street, Sydney NSW 2000 P +61 2 8208 3366 Ehello@simble.ioABN: 17 608 419 656
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Simble Solutions Limited (ASX:SIS) | ASX Announcement
- David Brown Santasalo Group in the UK represents a model-type of customer target for the Company moving forward, in June 22 purchasing the full SimbleSense suite of energy management tools to monitor energy usage across one of their largest industrial sites, including a £100K package of software, power and gas metering devices, and associated installation services.
- David Brown Group is also an existing major CarbonView customer, using the
Company's SaaS platform to monitor and manage carbon emissions. - During the quarter there has been a substantial investment into digital marketing social media and targeted online search advertising, leading to a broad funnel of sales leads for CarbonView in particular, with efforts going into ongoing pitches and proposals to various mid and large sized companies.
- Simble has ramped up participation at various energy and carbon trade conferences and marketing events, including the Smart Energy Conference at ICC in Sydney in May.
- The Company will also sponsor and attend the upcoming ESG Summit to be held on the 3rd and 4th of August and the Industrial Net Zero Conference to be held between 30th of August and 1st of September, both in Sydney.
- These events are attended by major corporations seeking to address sustainability, energy and environmental objectives, and Simble will attend with its sales team.
Financial Highlights
- The Company's revenue mix is deliberately evolving, with focus on expansion of the CarbonView business in both Australia and Europe, further growth of SimbleSense sales in the UK, and managing the decline in revenues from the legacy Mobility unit.
- The Company continues to invest heavily in sales, marketing and growth initiatives, such as digital marketing and trade conferences.
- Total headcount of 17 has increased over the past 9 months by 30% with all new hires in sales and new customer support.
- Currently the Company has 14 FTEs and 3 part-time executives.
- Net cash used in operating activities for the quarter of $468K was an improvement on net cash burn of $602K in the prior March quarter.
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Simble Solutions Limited, Level 2, 383 George Street, Sydney NSW 2000 P +61 2 8208 3366 Ehello@simble.ioABN: 17 608 419 656
For personal use only
Simble Solutions Limited (ASX:SIS) | ASX Announcement
- Investment in software R&D continued, with $147K of expenditure in the quarter, classified in the accompanying Appendix 4C as Operating Expenses.
- Excluding this long term R&D investment in our platform, net cash used in regular operating activities was $321K, which reflects the Company's ongoing investment in people and marketing for growth.
- As required under ASX listing rule 4.7C.3 payments to related parties in the quarter of $47K are comprised of directors' fees paid pursuant to letters of appointment. The basis and principles of director remuneration are consistent with the remuneration report included in the Company's Annual Report which was released to the ASX on 29 March 2022.
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Receipts in the period include the second tranche of the March 2022 placement of $0.7m which was received following shareholder approval at the
Company's Annual General Meeting in May 2022 - End of quarter cash balance was $1.3m
Strategic Update
As previously advised the Company continues to undertake a strategic review process. The first part of this process has involved substantially improving and re- focusing sales and marketing functions and reducing operating costs. These settings have been largely made, however require ongoing application of efforts and momentum.
The second part of the review process is focused on consideration of a range of prospective joint venture, merger and acquisition opportunities. Efforts to pursue these initiatives continue.
ENDS
This announcement has been authorised by the Board of Simble Solutions Limited
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Simble Solutions Limited, Level 2, 383 George Street, Sydney NSW 2000 P +61 2 8208 3366 Ehello@simble.ioABN: 17 608 419 656
For personal use only
Simble Solutions Limited (ASX:SIS) | ASX Announcement
About Simble
Simble Solutions Limited (ASX:SIS) is a global software company with products enabling Net Zero carbon reporting, and energy monitoring & intelligence Software- as-a-Service (SaaS) solutions.
The company operates two product platform divisions -CarbonView and SimbleSense.
CarbonView is an enterprise grade Carbon and Sustainability Reporting platform that allows companies to measure and reduce their carbon emissions and also meettheir carbon reporting obligations as they head towards zero carbon emissions.
SimbleSense is an integrated hardware and real-time software solution that enablesbusinesses to visualise & control their energy systems and reduce energy costs.
Simble operates across the Commercial & Industrial and Small to Medium Sized Enterprises (SME) segments, and distributes both directly via B2B sales, as well as through multiple channel partners. Simble has an international presence with officesin Australia, the United Kingdom and Vietnam.
To learn more please visit us at:
simblegroup.com
carbon-view.com
simbleenergy.com
Investor & Corporate Enquiries:
Ben Loiterton
Executive Chair
Ph: +61 2 8208 3366
E: invest@simble.io
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Simble Solutions Limited, Level 2, 383 George Street, Sydney NSW 2000 P +61 2 8208 3366 Ehello@simble.ioABN: 17 608 419 656
For personal use only
Rule 4.7B
Appendix 4C
Quarterly cash flow report for entities subject to Listing Rule 4.7B
Name of entity
Simble Solutions Limited | |
ABN | Quarter ended ("current quarter") |
17 608 419 656 | 30 June 2022 |
Consolidated statement of cash flows | Current quarter | Year to date | ||
$A'000 | (6 months) | |||
$A'000 | ||||
1. | Cash flows from operating activities | |||
1.1 | Receipts from customers | 417 | 624 | |
1.2 | Payments for | |||
(a) | research and development | (147) | (360) | |
(b) | product manufacturing and operating | (91) | (197) | |
costs | ||||
(c) | marketplace and channel expansion | (82) | (170) | |
(d) | leased assets | - | - | |
(e) | staff costs | (301) | (625) | |
(f) | administration and corporate costs | (224) | (405) | |
1.3 | Dividends received (see note 3) | - | - | |
1.4 | Interest received | - | - | |
1.5 | Interest and other costs of finance paid | - | - | |
1.6 | Income taxes paid | - | - | |
1.7 | Government grants and tax incentives | - | 127 |
1.8 Other (provide details if material)
Retirement of prior liabilities | (41) | (64) | |
1.9 | Net cash from / (used in) operating | (468) | (1,071) |
activities |
2. | Cash flows from investing activities | |||
2.1 | Payments to acquire or for: | |||
(a) | entities | - | - | |
(b) | businesses | - | - | |
(c) property, plant and equipment | - | - | ||
(d) | investments | - | - | |
(e) | intellectual property | - | - |
ASX Listing Rules Appendix 4C (17/07/20) | Page 1 |
+ See chapter 19 of the ASX Listing Rules for defined terms. |
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Simble Solutions Ltd. published this content on 26 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 July 2022 23:01:00 UTC.
