- SuperCom Ltd. is focused on developing its portfolio of products in support of advanced electronic monitoring (“EM”) solutions, and reported last month record-level revenues and EBITDA during the past year
- SuperCom’s recent positive financials report represents the results of the company’s efforts to introduce non-incarceration EM alternatives around the world, with inroads in Europe and the U.S. resulting in significant contracts
- Electronic technology for tracking criminal offenders and other court-administered programs provides a more economical approach to security than incarceration in cases where such options applicable
Electronic-monitoring (“EM”) security solutions developer SuperCom (NASDAQ: SPCB) has seen its revenues and gross margin grow dramatically as it serves a worldwide market for court-administered security needs and other identity technology concerns.
The technology solutions company reported its Q4 and fiscal year-end financial results April 22, noting a 51 percent jump in annual revenue (its third consecutive year of growth), a 60 percent increase in gross profits for the year and a remarkable 2,350 percent burst in its EBITDA (https://ibn.fm/ZiTb4).
The figures include a quarterly increase in the company’s gross margin to 41.4 percent. SuperCom presented the record-level results to investors in a conference call and Q&A on April 22.
“These financial metrics not only underline our strong execution, but also the increasing efficiency and scalability of our operations. During the past year, we won several award contracts in the U.S. and Europe, and we’re excited about the opportunity we see ahead,” CEO and President Ordan Trabelsi said as he introduced the conference call (https://ibn.fm/o9QOH). “Since 2018, SuperCom has secured over 50 new multi-year government projects. Our strong growing reputation as a premium provider of electronic monitoring solutions and services enhanced our market position with each new customer win.”
SuperCom is focused on developing IoT tracking opportunities using its suite of technological products, including PureProtect for domestic violence monitoring, the comprehensive PureOne GPS tracking solution and the PureSecurity platform that is being upgraded with advanced AI integration.
Along with that focus, the company also launched a new project in Iceland that involved upgrades to a system supporting the secured issuance of national ID cards and passports that had previously been deployed.
“This growth is a testament to our competitive edge and ability to secure significant contracts, such as the $33 million national domestic violence project and other multiple high-value projects in Europe and California, reflecting our commitment to excellence and our ability to meet the diverse needs of our international clientele,” Ordan said.
The PureProtect product is particularly important as a solution with life-saving potential. It provides improved protection to families suffering from domestic violence. It was a new rollout during the past year along with PureOne, which delivers a competitive all-in-one GPS tracking ankle bracelet monitoring solution tailored to the North American market.
Ordan said that high recidivism rates and the increasing costs associated with incarceration are making SuperCom’s electronic monitoring solutions an attractive alternative for governments that want to cut their costs while ensuring public safety.
During the past years, SuperCom sealed significant new contracts in a competitive bidding process, allowing the company to expand into 10 new countries in the European market, he reported.
For more information, visit the company’s website at www.SuperCom.com.
NOTE TO INVESTORS: The latest news and updates relating to SPCB are available in the company’s newsroom at http://ibn.fm/SPCB
