Simpple Ltd Stock Price, News & Analysis

SIMPPLE (NASDAQ: SPPL) has launched its latest innovation in robotics - the Orion robot, featuring real-time security surveillance, digital concierge support, and intelligent cleaning capabilities. The launch event took place at Kings Club, Melbourne, in collaboration with Above OCM and Australian Robot Technology.

Orion is equipped with advanced dual compute modules, 32-beam 3D LiDAR, and precision navigation systems. The robot can operate independently or integrate with existing CCTV systems, helping facilities extend surveillance coverage while reducing operational costs.

This launch follows the Company's previous announcement from October 16, 2024, regarding the sale of their 3-in-1 multifunctional Gemini robots in Singapore, Malaysia, and Thailand markets, which generated $1.0 million in sales.

SIMPPLE (NASDAQ: SPPL) has launched SIMPPLE Vision, a new end-to-end AI video analytics platform for facilities management. The platform integrates pre-trained AI models for Environmental Services and Security with automated workforce management capabilities, enabling real-time video data processing and instant alert systems.

The solution can utilize existing camera networks, eliminating the need for hardware upgrades, and offers both on-premises and cloud setups. Key features include real-time analytics, incident logging, and audit trails for regulatory compliance.

Alongside the launch, SIMPPLE announced securing a pilot contract with a major Singapore public healthcare institution to implement its vision-to-workforce management capabilities. Upon successful proof-of-value, the program could expand nationwide across multiple hospitals.

According to SkyQuest Technology, the global video analytics market is projected to reach $44.7 billion by 2031, growing at a CAGR of 22.3% from 2024 to 2031.

SIMPPLE (NASDAQ: SPPL) has secured a second contract worth $524,000 to provide autonomous cleaning robots for Singapore's international airport terminal. This follows their initial $400,000 contract announced on November 15, 2024, for similar services at the same facility.

The contracts were awarded through a competitive bidding process as part of the airport's renewal program, with opportunities for additional contracts across three remaining terminals. SIMPPLE has maintained an eight-year partnership with the Singapore airport, providing facilities management technology solutions.

SIMPPLE (NASDAQ: SPPL), a technology provider in facilities management, announced leadership changes in its financial department. Mr. Sovik Bromha has resigned as Chief Financial Officer, effective April 14, 2025, while Mr. Gary Goh has been appointed as the new CFO, effective January 22, 2025.

Goh brings over 15 years of experience in audit, accounting, and financial advisory across various industries. He founded GYSG Group in 2014, which previously provided services to SIMPPLE in 2022. His background includes four years at KPMG as an Engagement Manager and holds multiple professional certifications including Chartered Accountant and Chartered Valuer.

SIMPPLE has updated its governance framework and finance controls to maintain SEC and NASDAQ compliance regarding engagements with GYSG. The company aims to focus on enhancing shareholder value and supporting long-term growth objectives under the new CFO's leadership.

SIMPPLE (NASDAQ: SPPL) has received notifications from Nasdaq regarding two compliance issues. First, the company's stockholders' equity of $950,980 (as of June 30, 2024) falls below Nasdaq's minimum requirement of $2,500,000 for continued listing. Second, SIMPPLE failed to hold an annual shareholders' meeting within twelve months of its fiscal year end.

The company has until March 3, 2025 to submit a compliance plan to Nasdaq. If accepted, Nasdaq may grant up to 180 calendar days from the notification date for SIMPPLE to demonstrate compliance. The company is currently developing a plan to increase stockholders' equity and address these deficiencies.

SIMPPLE (NASDAQ: SPPL) released a shareholder letter highlighting its achievements in 2024 and outlook for 2025. The company made significant progress in robotics, launching Gemini, the world's first multifunctional robot with security surveillance, digital concierge, and cleaning capabilities. SIMPPLE expanded internationally, establishing presence in Australia and forming distribution partnerships across multiple countries.

Key developments include the completion of SIMPPLE A.I. pilot trials, enhancement of facility management solutions, and a joint venture with Evolve Consulting ApS for ESG audit capabilities. The company regained Nasdaq compliance in December 2024 and plans to relocate to a larger office by Q1 2025. The global service robotics market is projected to grow by 30.25% CAGR (2024-2028), reaching $90.4 billion, while the compliance management software market is expected to reach $75.8 billion by 2031.

SIMPPLE (NASDAQ: SPPL) has announced regaining compliance with Nasdaq Capital Market's continued listing requirement for minimum bid price. The company received formal notice from Nasdaq on December 5, 2024, confirming that as of December 2, 2024, it has met the minimum bid price requirement of $1.00 per share as per Nasdaq Listing Rule 5550(a)(2).

As a result of regaining compliance, the company's scheduled hearing before the Nasdaq Hearings Panel has been cancelled. CEO Norman Schroeder described this as a key milestone in addressing past issues and positioning the company for sustained long-term growth.

SIMPPLE (NASDAQ: SPPL) has signed a partnership agreement with Vietnam-based Elite VDP to distribute SIMPPLE Ecosystem across Vietnam. The initial agreement is expected to generate minimum sales revenue of $100,000. Elite VDP, operating for over 30 years from Ho Chi Minh City, serves various sectors including commercial retail, offices, hospitality, and industrial factories. The Vietnam Autonomous Work Process market, valued at $420 million in 2023, is projected to grow at a 4.5% CAGR through 2029, driven by industrialization and automation technology adoption.

SIMPPLE (SPPL) has expanded into Thailand through a partnership with RAAS PAL Co., for distributing IoT sensors, robotics, and the SIMPPLE Software platform. The company secured its first Thai commercial contract worth $110,000, implementing its technology solutions in three commercial retail buildings in Bangkok. The deployment includes IoT sensors, Gemini robot security head, and SIMPPLE Software. RAAS PAL, a leading service robotics automation provider in Thailand, serves multiple sectors including education, retail, hospitality, healthcare, industrial, and residential markets.