SuperCom Wins New Electronic Monitoring Contract in Kentucky
SuperCom (NASDAQ: SPCB) announced a new contract with a major private probation and drug testing company in Kentucky, marking its 10th contract win in the USA within a year. The deal includes the supply of SuperCom's proprietary electronic monitoring (EM) solutions, focusing on GPS tracking for various programs. The initial order involves over 50 units, with potential future orders of up to 100 units. This contract utilizes a per unit lease model, generating recurring revenue. SuperCom aims to address prison overcrowding and recidivism rates through this partnership.
- Secured a contract with a leading EM provider in Kentucky, indicating strong market demand.
- Initial order of over 50 units with potential for an additional 100 units, ensuring ongoing revenue.
- 10th new contract in the U.S. in less than a year, showcasing growth and market penetration.
- 83% recurring revenues indicate a stable financial outlook.
- None.
10th New contract win in the USA in less than a year
OAKLAND, Calif., Aug. 9, 2022 /PRNewswire/ -- SuperCom (NASDAQ: SPCB), a global provider of secured solutions for the e-Government, IoT, and Cybersecurity sectors, is pleased to announce that it has secured an agreement with a new customer and strategic partner, one of the largest private probation and judicial drug testing companies in the Commonwealth of Kentucky and a leading provider of electronic monitoring (EM) products and services.
As part of this partnership, SuperCom has already received a first order and will supply its proprietary EM solutions that allow continuous GPS tracking and support a wide array of programs such as GPS Monitoring, house arrest, domestic violence, and more. SuperCom's offering includes a diverse portfolio of monitoring solutions, including the PureOne, PureTrack, PureProtect, PureCom, Purebeacon, and PureTag products.
SuperCom's proprietary EM solutions will be distributed in the southeastern US market region together with its new partner's value-added services, allowing customers to decide on the most suitable technology monitoring solution for each client's unique risk profile and needs.
"We are happy to work with such an esteemed partner, one of Kentucky's top EM solution providers with an excellent track record and experience serving clients for nearly a decade. We are excited and look forward to growing our mutual presence in the southeastern area," commented Ordan Trabelsi, CEO and President of SuperCom.
"The state of Kentucky is characterized by high rates of prison overcrowding, a pitiful situation that harms the well-being of the imprisoned population, making rehabilitation much more difficult. We strive to ease prison overcrowding, reduce recidivism rates, and promote public safety through SuperCom's proprietary EM technology and our partner's complimentary services," Mr. Trabelsi continued.
With this partnership, SuperCom has secured a new contract to deploy its PureSecurity Suite while replacing an incumbent leading EM manufacturer and competitor. The first order of over 50 units has already been placed and will arrive in a few weeks to three separate offices, with the potential for an additional order of up to another 100 units in the foreseeable future. The contract is set up as a per unit per day lease, with billing at the end of each month generating recurring revenues.
"We are proud that our technology is chosen, time after time, to replace incumbent solutions in a growing number of geographies. After the successful deployment of our solutions for national EM projects in various European countries over the past few years, it is rewarding to see our solutions gain traction and spread further across the U.S. This is our 10th new contract win in the US in less than a year, across five different states, and combined with a base of
SuperCom's PureSecurity Suite is a best-of-breed electronic monitoring and tracking platform with a comprehensive set of innovative features, including smartphone integration, secure communication, advanced security, anti-tamper mechanisms, fingerprint biometrics, voice communication, unique touch screens, and extended battery life.
About SuperCom
Since 1988, SuperCom has been a global provider of traditional and digital identity solutions, providing advanced safety, identification, and security solutions to governments and organizations, both private and public, throughout the world. Through its proprietary e-Government platforms and innovative solutions for traditional and biometrics enrollment, personalization, issuance and border control services, SuperCom has inspired governments and national agencies to design and issue secure Multi-ID documents and robust digital identity solutions to its citizens and visitors. SuperCom offers a unique all-in-one field-proven RFID & mobile technology and product suite, accompanied by advanced complementary services for various industries including healthcare and homecare, security and safety, community public safety, law enforcement, electronic monitoring, livestock monitoring, and building and access automation.
SuperCom's website is http://www.supercom.com
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded or followed by or that otherwise include the words "believes", "expects", "anticipates", "intends", "projects", "estimates", "plans", and similar expressions or future or conditional verbs such as "will", "should", "would", "may" and "could" are generally forward-looking in nature and not historical or current facts. These forward-looking statements are subject to risks and uncertainties that could cause our actual results to differ materially from the statements made. Examples of these statements include, but are not limited to, statements regarding business and economic trends, the anticipated effects of the COVID-19 outbreak on travel and physical locations, the levels of consumer, business and economic confidence generally, the duration of the COVID-19 outbreak and severity of such outbreak, the pace of recovery following the COVID-19 outbreak, the effect on our supply chain, our ability to implement cost containment and business recovery strategies and resulting anticipated impact of such outbreak on our business, financial condition and results of operations, the adverse effects of the COVID-19 outbreak on our business or the market price of our ordinary shares, and other risks and uncertainties described in the forward looking statements and in the section captioned "Risk Factors" in our Annual Report on Form 20-F for the year ended December 31, 2021, filed with the U.S. Securities and Exchange Commission (the "SEC") on April 4, 2022, our reports on Form 6-K filed from time to time with the SEC and our other filings with the SEC. Except as required by law, we not undertake any obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this press release.
SuperCom Investor Relations:
ir@supercom.com
Logo - https://mma.prnewswire.com/media/1717536/SuperCom_Logo.jpg
View original content:https://www.prnewswire.com/news-releases/supercom-wins-new-electronic-monitoring-contract-in-kentucky-301602483.html
SOURCE SuperCom Ltd.
FAQ
What new contract did SuperCom (SPCB) secure in Kentucky?
How many contracts has SuperCom (SPCB) won in the USA in the last year?
What does SuperCom's electronic monitoring (EM) technology include?
What is the size of the initial order SuperCom (SPCB) received for its new contract?
What is the revenue model for SuperCom's new contract in Kentucky?
