Supercom - SPCB STOCK NEWS

SuperCom (NASDAQ: SPCB), a global provider of secured solutions for e-Government, IoT, and Cybersecurity, has announced a new $1.8 million contract with a longstanding government customer. This contract, part of their e-Government division, marks over a decade of successful partnership. The new project is set to begin by the end of May 2024 and will be completed in the next five months.

Ordan Trabelsi, President & CEO of SuperCom, highlighted that this contract symbolizes the customer's continued trust in SuperCom's solutions and underscores the company's commitment to high-quality service and global client satisfaction. SuperCom, established in 1988, specializes in traditional and digital identity solutions, providing advanced security and identification services to governments and organizations worldwide.

SuperCom (NASDAQ: SPCB) reported record financial results for Q1 2024. Revenue increased by 8% to $6.9 million and net income improved to $0.8 million from a loss of $1.5 million in Q1 2023. EBITDA grew by 400% to $2 million. Key highlights include new orders over $5 million from European governments and notable project wins in the USA and Canada. The company also raised $2.9 million in a direct offering. CEO Ordan Trabelsi emphasized the strong financial performance, notable improvements in gross profit margins, and successful strategic initiatives driving growth.

Operating income improved to $0.7 million from a loss of $1.1 million in Q1 2023. Gross profit increased to $3.8 million, with a margin rise to 55%. The company also launched several major projects, notably in California and Finland, leveraging its innovative PureOne and PureSecurity solutions. The company remains committed to leveraging technology and strategic initiatives for continued growth in 2024.

SuperCom, a global provider of secured solutions for e-Government, IoT, and Cybersecurity sectors, will report its first-quarter 2024 financial results on May 15, 2024. The company will host a conference call to discuss the results and provide insights into its performance.

SuperCom, a global provider of secured solutions, has received over $5.0 million in new orders from European governments. The orders are set to be delivered in the next three months, showcasing the company's dedication to enhancing public safety and its innovative technology. SuperCom's PureSecurity Suite offers cutting-edge electronic monitoring solutions for global public safety.

SuperCom reports impressive financial results for the full year 2023, including a 51% annual revenue growth, Non-GAAP EPS of $0.47, and a 5-year-record EBITDA of $4.8 million. The company achieved significant milestones in revenue, EBITDA, and gross profit, showcasing strong performance across its segments and regions. SuperCom also secured several high-value contracts and projects in California, Canada, Romania, and Finland, highlighting its global expansion and technological advancements. Management expressed confidence in sustaining growth momentum and enhancing shareholder value in the upcoming year.

SuperCom (NASDAQ: SPCB) will announce its fourth quarter and full-year 2023 financial results on April 22, 2024, followed by a conference call to discuss the outcomes. The company specializes in secured solutions for e-Government, IoT, and Cybersecurity sectors, and the call will provide insights into its performance for the year ended December 31, 2023.

SuperCom (SPCB) has announced a registered direct offering of approximately $2.9 million, with a combined effective purchase price of $0.36 per ordinary share and a warrant. The offering includes the sale of 8,116,155 ordinary shares (or pre-funded warrants) and warrants to purchase up to an aggregate of 8,116,155 ordinary shares. The warrants will have an exercise price of $0.38 per ordinary share and will expire five years from the date of issuance. Maxim Group is the sole placement agent for the offering.

SuperCom's subsidiary, Leaders in Community Alternatives (LCA), secures a $2 million project in California to provide re-entry services for adult inmates, aiming to reduce recidivism. The project spans over 5 years, with annual revenues of $400 thousand, reflecting SuperCom's commitment to public safety and community impact.

SuperCom (SPCB) announces a new contract with a California services provider in the judicial sector, displacing an incumbent competitor with its innovative PureOne solution. The contract is already operational and generating revenue, reflecting SuperCom's successful expansion in the US market. The partnership offers substantial opportunities for scaling and long-term collaboration, highlighting the resilience and adaptability of SuperCom's business model. CEO Ordan Trabelsi emphasizes the company's commitment to innovation and customer satisfaction, viewing the recent wins as indicators of growing influence and expansion potential.