FinFeed: Simble grows SimbleSense and makes sustainable cost cuts

Shares in Simble Solutions Limited (ASX:SIS) opened 10% higher on Monday morning after the company released an impressive June quarter report and management provided a promising business update.

Simble is an Australian software company focused on energy management, mobility and Internet of Things (IoT) 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.

Over the three-month period to June 2020, the number of meters under management on the SimbleSense platform increased by 4.2%, resulting in annual growth of 37% since June 2019.

The growth rate of meters under management is expected to accelerate through the September quarter as a result of recently signed contracts with Sylvania Lighting and Bluewater Shopping Centre in the UK, as well as recent wins in Australia driven by the NSW and Federal Government energy efficiency grants.