Simble Solutions (ASX: SIS) announces partnership with UCR Consultants and SEMMA

Highlights

  • Financial highlights include a 67% increase in customer receipts totalling $480K and an improvement of 69% in net operating cash burn.
  • UK Operational highlights include an announcement of a long-term partnership with UCR Consultants and in Australia, a collaboration with the South East Melbourne Manufacturing Alliance (SEMMA).
  • Simble expect to see continued growth in cash inflows through to the June quarter, with a strong and growing pipeline in the UK and Australia for their Energy division.

Simble Solutions Limited (ASX: SIS) is delighted to present its business update and consolidated quarterly cash flow report for the quarter ending 31 March 2019.

Financial highlights include a 67% increase in customer receipts totalling $480K as a result from successful Simble Energy division sales. An improvement of 69% was seen in net operating cash burn, putting it as the second lowest quarterly burn rate since IPO. 75% of inflows are recurring and growth is expected to continue through to Q2 FY19.

UK Operational highlights include an announcement of a long-term partnership with UCR Consultants, its first energy broker partner in the UK with an investment of $500K.  In Australia, Simble collaborated with the South East Melbourne Manufacturing Alliance (SEMMA) to assist multi-site manufacturers reduce their energy footprint, along with a marketing partnership with agreement with BidEnergy Limited (ASX: BID).

Based on this quarterly report, Simble expects to see continued growth in cash inflows through to the June quarter, with a strong and growing pipeline in the UK and Australia for their Energy division.

 

About Simble Solutions (ASX: SIS)

Simble Solutions (ASX: SIS) focuses on energy SaaS and Internet of Things technology solutions, enabling businesses to remotely automate savings opportunities and achieve sustainability targets.

With a growing footprint in the UK and Australian market, Simble has emerged as the fastest growing energy software company on the ASX. The company’s powerful big data analytics platform has global exponential growth potential.

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