Highlights

  • Revenue for the six months ended 30 June 2026 rose about 46% to S$5.08 million on higher third-party sales.
  • Robotics sales climbed to S$4.13 million, while software Revenue declined to S$0.95 million from S$1.11 million.
  • The net loss widened about 32% to S$2.07 million despite a S$1.32 million gain from an Australian disposal.
  • Management disclosed substantial doubt about the company's ability to continue as a Going Concern after heavy operating cash outflows.

SIMPPLE LTD. (NASDAQ:SPPL) has shown that its robotics Business can drive rapid growth, but its unaudited interim accounts, released on 30 October 2026, also show how quickly the Singapore-based group is consuming cash to get there.

The company, whose subsidiaries provide facilities management software and trade in and maintain robotics equipment, reported sharply higher revenue for the first half of 2026 alongside a wider loss, a smaller cash balance and a going concern warning from management.

Robotics Becomes the Main Revenue Engine

Revenue for the six months ended 30 June 2026 reached S$5.08 million, or about US$3.92 million, compared with S$3.48 million a year earlier. Third-party customers accounted for S$4.89 million of the total, with related-party sales of S$0.19 million.

The robotics segment generated S$4.13 million, up from S$2.37 million, while software revenue fell to S$0.95 million. Gross Profit rose to S$2.16 million, but general and administrative expenses jumped to S$5.24 million from S$3.19 million, widening the operating loss to S$3.07 million.

Disposal Gain Softens a Wider Loss

Other income climbed to S$1.34 million, largely reflecting a S$1.32 million gain on the disposal of Simpple Australia on 6 February 2026. Even so, the net loss widened to S$2.07 million, or about US$1.60 million, from S$1.57 million in the first half of 2025. The basic loss per share narrowed to S$0.27 from S$0.32 on a larger share count, with prior figures restated for a reverse share split.

Operating activities used S$6.72 million in cash during the half, up from S$4.42 million. Cash and cash equivalents fell to S$1.43 million at 30 June 2026 from S$3.14 million at the end of 2025, alongside S$1.0 million of restricted cash pledged against borrowings. The accumulated Deficit stood at S$20.89 million.

On the balance sheet, total Assets increased to S$13.93 million, helped by Accounts Receivable that more than doubled to S$1.85 million. Total liabilities eased to S$7.15 million, with short-term borrowings reduced to S$1.5 million while current bank loans rose to S$1.27 million. Financing activities brought in S$5.32 million during the half.

Funding Needs and Governance Changes

The group completed an underwritten public offering of 4,000,000 ordinary shares at US$1.25 each on 1 April 2026, raising gross proceeds of US$5.0 million and lifting shares outstanding to 9,786,184. The underwriter also received warrants over 300,000 shares exercisable at US$1.5625. Shareholders' Equity rose to S$6.78 million by mid-year.

Management has started a plan to raise further Debt and equity but cautioned that financing may not be available on acceptable terms. Separately, on 22 September 2026 the audit committee approved replacing Audit Alliance LLP with TQ International, PLLC as independent auditor, with no disagreements reported. Shares closed at US$2.32 on 30 October 2026, up 7.91% on the day, giving a market Capitalization of about US$22.7 million.