Supercom - SPCB STOCK NEWS

SuperCom (NASDAQ: SPCB) reported strong financial performance for Q4 2022, achieving a 69% year-over-year revenue increase to $5.1 million and a 44% increase in annual revenue to $17.7 million. The company turned a non-GAAP net profit of $2.2 million in Q4, compared to a ($0.2 million) loss the prior year. Additionally, the non-GAAP EPS improved to $0.53, a significant rise from ($0.1) last year. Operating losses narrowed to $2.0 million from $4.6 million. The company secured contracts totaling over $33 million in Romania, Finland, and other locations, highlighting substantial growth in European markets.

SuperCom (NASDAQ: SPCB) has announced a conference call scheduled for April 20, 2023, at 10 a.m. Eastern Time to discuss its financial results for the year ending December 31, 2022. This call will follow a press release detailing the financial outcomes. Interested parties are encouraged to join the call and ask questions after the presentation. SuperCom specializes in secured solutions for e-Government, IoT, and Cybersecurity, providing advanced safety and identification solutions globally since 1988. For more insights and the latest updates, visit SuperCom's website.

SuperCom (NASDAQ: SPCB) has closed a registered direct offering and concurrent private placement, raising approximately $2.4 million. The offering involved the purchase and sale of 1,517,615 ordinary shares and warrants, priced at $1.60 per share. The warrants have an exercise price of $1.66 and are valid for five years. Proceeds will support general corporate purposes, including research and development and project deployment. Maxim Group LLC acted as the placement agent. The offering is registered under the SEC's Form F-3, declared effective in December 2021.

SuperCom (NASDAQ: SPCB) announced a registered direct offering worth $2.4 million for approximately 1,517,615 ordinary shares at a combined price of $1.60 per share/warrant. The offering includes warrants to purchase an equal number of shares at $1.66 exercise price, expiring in five years. This follows an agreement to amend existing warrants to the same exercise price. The transaction, facilitated by Maxim Group LLC, is expected to close around March 31, 2023. The shares are offered under the SEC's shelf registration statement (File No. 333-261442).

SuperCom (NASDAQ: SPCB) announced a second order valued at approximately $7.1 million from Romania's Ministry of Interior for the National Electronic Monitoring Project. This follows the successful completion of the project's first phase, which had an initial order exceeding $8 million. The delivery is expected within the first half of 2023. CEO Ordan Trabelsi highlighted the company's role in enhancing public safety and emphasized a strong pipeline exceeding $200 million in potential projects. SuperCom's PureSecurity EM Suite offers advanced monitoring solutions, reinforcing its leadership in the electronic monitoring market.

SuperCom (NASDAQ: SPCB) announced on March 13, 2023, that it has no banking exposure to Silicon Valley Bank or Signature Bank. This announcement clarifies that neither SuperCom nor its subsidiaries hold any financial relationships with these banks. SuperCom is a provider of secured solutions across e-Government, IoT, and Cybersecurity sectors, offering identity solutions and advanced technology to governments worldwide.

SuperCom (NASDAQ: SPCB) has initiated a $3.6 million electronic monitoring project in Finland, aimed at enhancing public safety while reducing prison overcrowding and recidivism. Following a competitive bidding process involving six companies, SuperCom successfully launched its PureSecurity Electronic Monitoring Suite, expected to support over 1,000 offenders simultaneously for four years. Revenue will depend on actual usage, primarily from leasing equipment and maintenance. The project reflects a growing demand for advanced monitoring solutions, with deployment expected to generate recurring revenue soon.