Company: SPPL
Filing Date: 2025-04-08
Form Type: 20-F
Source: 0001641172-25-003217
Chunk: 66

Company: SIMPPLE LTD.
Filing Date: 2025-04-08
Form: 20-F
Item: Item 5
Chunk 66
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 Facilities Management (“ FM”) related contracts for commercial cleaning and security, including
from the sale of autonomous robotic cleaning equipment, which includes the warranty and maintenance of robots as well as software services
rendered for FM applications.

Our
total revenue for the year ended December 31, 2024 has decreased by S$913,601, or by 19%, from S$4,686,925 for the year ended December
31, 2023 to S$3,773,324 for the year ended December 31, 2024.

The
decline in sales during 2024 can be attributed to delays in finalizing the details of awarded contracts with customers. These delays
prevented many deals from being concluded within the expected timeframe, causing them to carry over into 2025. As a result, the
anticipated revenue for 2024 was significantly impacted, leading to lower-than-expected sales performance. This shift in the sales
timeline has created a gap in the company’s financial results for the year, pushing much of the expected growth into the next
financial period.

Cost
of revenues

                              For the year ended December 31,                                                                                        
                              2024                                                2023                     2022      2024 to 2023      2023 to 2022  
                              S$                                                  S$                       S$        % change          % change      
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Total cost of revenues                                           1,511,927                2,244,486                                                

Our
cost of revenue is primarily made up of the autonomous robotic cleaning equipment and freight charges. For the year ended December 31,
2024 and 2023, our total cost of revenue are S$1,511,927 and S$2,244,486 respectively. This decrease of S$732,559 or by 33% from the
year ended December 31, 2023, correlates predominantly to the decrease in sales.

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  Table of Contents  

Gross
profit & gross profit margin

                                 For the year ended December 31,                                                        
                                 2024                                                                                   
                                 S$                                                                                     
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Gross profit                                                                                                          
  Sale of robotics                                                    1,412,576      1,648,139      2,775,231      -41