Amidst corporate engagement with environmental concerns and energy efficiency, the need to elevate sustainability and energy management is on the rise. This has opened up opportunities for companies like Simble Solutions (ASX: SIS), which offer software solutions and consulting services to assist these corporations in achieving Net Zero carbon reporting and improving energy efficiency while reducing carbon emissions.
Its latest venture includes securing a new channel partner contract with Australian energy retailer BlueNRG in late September 2023, to distribute its energy system software SimbleSense to its client base of small-medium enterprises (SME) and commercial and industrial (C&I) energy customers. BlueNRG, a provider of electricity contracts and energy services, has over 15,000 clients across Australia who could benefit from SimbleSense’s platform, making this partnership a significant expansion opportunity for Simble.
In addition to BlueNRG, Simble partnered with Intellihub Australia in December 2022. Notably, there was a 67% increase in sales invoices in the three months ending September 2023 compared to the previous quarter, with over 650 power metres from major industrial customers migrating to the Simble platform in that period.
Simble has also completed initial order installation for Origin Zero, with whom Simble partnered up in February 2023. Ongoing business development efforts are underway to secure additional purchase orders with this partner.
During the quarter, Simble also recorded ongoing orders and receipts in the UK, both from new customers and re-orders from existing industrial clients. Notable clients included Powercor, Sylvania Lighting, MPK Garages, Staircraft, Eurocell, Shepherd Neame Brewery, Bluewater Shopping Centre, Calvin Klein, and Tommy Hilfiger. Simble is actively engaged in sales and marketing efforts targeted at manufacturing and industrial clients in the UK, where the concerns of rapidly increasing energy costs and carbon emissions remain a top priority.
Significant order growth from energy clients across Australia and the UK was reflected in a 60% increase in sales invoices for the three months ending in September 2023, totaling $515k, compared to the previous quarter’s $320k. However, there was a 12% decrease in cash receipts for the quarter to $361k compared to $633k in the previous quarter. Simble has also managed to reduce its monthly fixed operating overheads as planned, following the implementation of cost-saving measures in June and July.
Simble has grown Annual Recurring Software-as-a-Service (SaaS) based Revenue from $360k in June 2022 to a current rate of $830k in October 2023. This does not include hardware sales and ancillary service revenues.
Simble is a worldwide sustainability and energy software solutions group. The Company offers software products for Net Zero carbon reporting, energy monitoring, and intelligence through SaaS solutions, in addition to providing energy efficiency and carbon reduction consulting services. Simble currently operates two product platform divisions – enterprise grade Carbon and Sustainability Reporting platform CarbonView and energy monitoring software solutions SimbleSense.
The SimbleSense Platform provides energy analysis and control through a subscription model linked to energy data devices, such as smart metres and IoT devices. Installations can vary from one metre to multiple metres at a location. Simble generates income from smart metres, IoT devices, software subscriptions, hardware sales, installation, consulting, and channel partners monthly retainer fees. These units connect users to the SimbleSense Platform, enabling them to oversee and analyse energy usage in commercial and industrial settings.
Running direct distribution via B2B sales as well as through multiple channel partners, Simble has established international presence across Australia, the United Kingdom and Vietnam.
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