Company: SPPL
Filing Date: 2025-04-08
Form Type: 20-F
Source: 0001641172-25-003217
Chunk: 67

Company: SIMPPLE LTD.
Filing Date: 2025-04-08
Form: 20-F
Item: Item 5
Chunk 67
---
  Software revenue                                                      848,821        794,300        782,544        2  
  Others                                                                      -              -         41,521        -  
  Total Gross Profit                                                  2,261,397      2,442,439      3,599,296      -32  
  Gross profit margin                                                                                                   
  Sale of robotics                                                         53.4           45.4           53.1           
  Software revenue                                                         75.3           75.4           63.2           
  Others                                                                      -              -           97.1           
  Total Gross Profit Margin                                                59.9           52.1           55.3           

Gross
profit for the year ended December 31, 2024, decreased by 7%, from S$2,442,439 in 2023 to S$2,261,397 in 2024. This decline can be
attributed to an increase in freight charges and related cost of goods, including parts and manufacturing costs in the development of SIMPPLE’s multipurpose robots, yet to be fully commercialized.

However, despite the slight drop in gross profit, the overall gross profit margin improved by 7.8%, rising from 52.1% in 2023 to 59.9% in 2024. This increase was driven by the sale of a wider variety of products in 2024, which allowed for higher profit margins, even with the added freight costs.

General
and administrative expenses (including IPO-related expenses)

                                                 For the year ended December 31,                                                                                        
                                                 2024                                                2023                     2022      2024 to 2023      2023 to 2022  
                                                 S$                                                  S$                       S$        % change          % change      
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Total general and administrative expenses                                           6,683,728                9,991,300                                                

Our
general and administrative expenses consist primarily of staff costs, administrative and distribution costs, professional and legal fees,
advertising and promotion expenses, and depreciation expenses. General and administrative expenses decreased by 33% from S$9,991,300
for the year ended December 31, 2023 to S$6,683,728 for the year ended December 31, 2024, mainly due to one-off expenses