Strong initial sales cement Simble Solutions as the fastest growing energy management software play on the ASX
The first material sales have the potential to more than double Simble’s customer base
- Simble receives first material sales for the Simble Energy Platform in Australia – validating strong interest from partners
- Sales valued at approximately $480,000, prepaid in advance
- Three-year subscriptions – strengthening Simble’s recurring revenue base
- Sales have the potential to more than double the current installed customer base on the Simble Energy Platform with over 10% already scheduled for installation
Simble Solutions Limited (Simble or the Company), an Australian software company focused on energy management and mobility solutions, has received its first material purchase order for the Simble Energy Platform in Australia.
Valued at approximately $480,000, prepaid in advance, the sales demonstrate a strong signal of demand for the Simble Energy Platform by channel and distribution partners.
The Simble Energy Platform is an integrated hardware and real-time software solution that enables businesses to visualise, control and monetise their energy systems. It will be sold as a bundled software and hardware solution, with the weighted average subscription term being three years.
These orders will deliver Simble recurring Software as a Service (SaaS) revenue, recognised on a pro rata basis over the underlying customer’s contract life.
Commenting on the order, Simble CEO Fadi Geha said: “These sales galvanise our position as the fastest growing energy management software play on the ASX. Fulfilling this partner demand has potential to more than double our current installed customer base.
“We are very pleased that over 10% of the total order has already been scheduled for installation prior to sales and marketing activities. We look forward to using this momentum to deliver our disruptive IoT technology to more SME’s reeling from volatile energy prices.”
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Simble Solutions (ASX:SIS) is an Australian software company focused on energy management and mobility solutions. The Simble Energy Platform or ‘SimbleSense’ is an integrated hardware and real-time software solution that enables businesses to visualise, control and monetise their energy systems. The Company’s Software as a Service (SaaS) platform has Internet of Things (IoT) capabilities and empowers enterprises and consumers to remotely automate energy savings opportunities to reduce their energy bill. Simble operates in the SME SaaS market and targets the distribution of its platform through channel partners. Simble has an international presence with offices in Sydney and Melbourne (Australia), London (UK), Auckland (New Zealand), Dubai (UAE) and Da Nang (Vietnam).