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SuperCom Ltd (NASDAQ: SPCB) has been a leading global provider of traditional and digital identity solutions since 1988. Headquartered in Israel, the company focuses on delivering advanced safety, identification, tracking, and security products to an international clientele, including governments and organizations across various sectors. SuperCom's business is structured around three main Strategic Business Units: e-Gov, IoT and Connectivity, and Cyber Security. These units offer a broad spectrum of solutions, such as national ID registries, e-passports, biometric visas, automated fingerprint identification systems, and electronic voter registration and election management.
The company's flagship products include the PureSecurity Suite, an end-to-end electronic monitoring solution that incorporates state-of-the-art GPS tracking, secure communication, and real-time monitoring technologies. This comprehensive suite addresses the needs of various industries, including healthcare, law enforcement, public safety, and domestic violence prevention.
SuperCom recently achieved significant milestones, reflecting its robust growth and financial health. In 2023, the company reported a 51% increase in annual revenues, reaching a five-year record of $26.6 million. EBITDA also saw substantial growth, increasing to $4.8 million. Notable projects contributing to this success include a $33 million national domestic violence project and multiple high-value projects across Europe and California.
SuperCom's innovative approach extends to its recent technological advancements, including the integration of AI capabilities into its PureSecurity platform and the launch of new solutions like PureProtect for domestic violence monitoring and PureOne for the North American market. These innovations have positioned the company as a frontrunner in the electronic monitoring industry.
In addition to its strong financial performance, SuperCom continues to expand its global footprint. The company has secured significant contracts in Europe and North America, further solidifying its reputation for delivering reliable, high-quality solutions. Recent victories include a $2 million contract in California for re-entry services for adult inmates and a $5 million order from European governments.
SuperCom's commitment to excellence and innovation has earned it a win rate of over 65% in national government tenders in Europe. The company aims to replicate this success in new markets, including the USA and Canada. SuperCom's long-term vision is to leverage its technological advancements and strategic market initiatives to drive continuous growth and deliver exceptional value to shareholders and clients alike.
SuperCom (NASDAQ: SPCB) has launched Croatia's first full-scale electronic monitoring contract with the Ministry of Justice and Administration. The initiative deploys SuperCom's PureSecurity EM Suite aimed at enhancing public safety, reducing prison overcrowding, and lowering recidivism over a five-year period. Following a competitive tender, SuperCom's technology will monitor offenders under house arrest, marking a significant expansion of its services in Europe's e-Government sector. The project reflects SuperCom's growing trust and validation in its innovative solutions.
SuperCom (SPCB) reported a 4% revenue increase to $12.3 million for 2021, marking its first growth since 2017. The gross profit margin rose to 50.6%. Cash and equivalents increased to $4.6 million, while working capital soared to $20.5 million due to investments and financing. However, operating loss widened to $6.7 million due to one-time expenses. EBITDA fell to $2.1 million. The fourth quarter saw revenues rise to $3 million but operating losses increased to $4.6 million due to legacy business costs. New contracts were won in Europe and California, contributing to growth in the IoT segment.
SuperCom (NASDAQ: SPCB) will hold a conference call on March 31, 2022 at 4:30 p.m. ET to discuss its financial results for the fourth quarter and full year ended December 31, 2021. Prior to the call, financial results will be issued in a press release. The conference will include a Q&A session with management. Interested participants can dial in using the U.S. toll-free number 888-506-0062 or the international number 973-528-0011 with access code 615281.
SuperCom (NASDAQ: SPCB) announced its award of Croatia's first full-scale electronic monitoring contract by the Ministry of Justice and Administration. This project will deploy SuperCom's PureSecurity Electronic Monitoring Suite, aimed at enhancing public safety, reducing prison overcrowding, and lowering recidivism rates over five years. The company secured the contract through a competitive bidding process, anticipating revenue generation shortly after launch. This expansion further solidifies SuperCom's European presence and highlights its innovative technology within the electronic monitoring sector.
SuperCom (NASDAQ: SPCB) announces plans for a new version of its cybersecurity software, enhancing protection against cyber-attacks. With over 15 years of experience, SuperCom's cybersecurity division, through subsidiaries Safend and Prevision, has been instrumental in securing government and enterprise infrastructures globally. Its technology is deployed in critical sectors, including water, electricity, and defense. The company emphasizes its commitment to meeting increasing security needs amid evolving cyber threats.
SuperCom (NASDAQ: SPCB) announced a securities purchase agreement with an institutional investor for a registered direct offering worth approximately $4.7 million. The transaction involves the sale of 7,531,585 ordinary shares or pre-funded warrants, and warrants for an additional 5,648,689 shares. The offering price is set at $0.6174 per share, with warrants exercisable at $0.70 six months post-closing. The offering is expected to close around March 1, 2022.
TEL AVIV, Israel, Feb. 17, 2022 /PRNewswire/ -- SuperCom Ltd. (NASDAQ: SPCB) will present a company overview at the Aegis Capital Corp. Virtual Conference on February 23, 2022 at 9:00 AM EST. The presentation will be accessible upon request during the event from February 23 to 25, 2022, and the slide deck will be available on SuperCom's website. Established in 1988, SuperCom specializes in secure e-Government, IOT, and Cybersecurity solutions.
SuperCom Ltd. (NASDAQ: SPCB) announced that its Chairman, Arie Trabelsi, has purchased an additional 405,000 shares of SPCB, bringing his total acquisitions to 917,000 shares as part of a commitment to buy up to 3 million shares. Trabelsi expressed confidence in the company's intrinsic value, despite current stock prices not reflecting it. The share purchases are made through a program allowing discretion based on market conditions.
Cantaloupe, Inc. has appointed Jeff Dumbrell as Chief Revenue Officer, effective January 1, 2022. With over 20 years in the payments and technology sector, Dumbrell previously held key positions at VeriFone Systems where he significantly boosted revenue. His experience includes serving as Senior VP at Boost Payment Solutions and co-founding PowaPOS. CEO Sean Feeney and Chairman Douglas Bergeron are optimistic about his contributions to Cantaloupe’s growth strategy, focusing on revenue, global sales, and customer success.
SuperCom (NASDAQ: SPCB) has secured a new customer contract following a successful product evaluation, expanding its global customer base. The company's innovative technology in house arrest and GPS monitoring has enhanced public safety solutions. CEO Ordan Trabelsi highlighted the flexibility of their tracking products, which incorporate GPS, biometrics, and advanced communication features. With ongoing evaluations in North America and Europe, SuperCom is poised for further expansion in the offender monitoring market.
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