Core Insights - SuperCom has secured a new contract with a Southeast-based service provider to introduce its Electronic Monitoring technology into Florida and Mississippi, marking the company's continued expansion in the U.S. market [1][4] - This partnership is the ninth new service provider collaboration since mid-2024, indicating a strong validation of SuperCom's technology and market strategy [4] Company Overview - SuperCom is a global provider of secured solutions for e-Government, IoT, and Cybersecurity sectors, with a history dating back to 1988 [5] - The company specializes in advanced safety, identification, and security solutions, including electronic monitoring, which supports public safety and rehabilitation efforts [5] Technology and Services - SuperCom's proprietary technology was selected for its innovative design, which combines secure and accurate monitoring with a lightweight device, enhancing user experience [3] - The new agreement will allow the service provider to expand its offerings to include SuperCom's advanced electronic monitoring technology, improving compliance monitoring and case management for court-ordered supervision [3][4] Market Position - The collaboration leverages the service provider's established presence and relationships with local agencies, facilitating faster market entry for SuperCom [4] - The partnership is expected to enhance public safety by enabling more effective monitoring and management of community supervision programs [2][3]

Core Insights - SuperCom has been awarded a statewide technology procurement contract by the North Carolina Sheriff's Association, becoming the only new electronic monitoring technology provider selected through a competitive RFP process [1][4] - This contract allows all counties in North Carolina to contract directly with SuperCom on preset terms, facilitating efficient purchasing for law enforcement and public safety agencies [1][2] - The company plans to present its technology at a large conference organized by the North Carolina Sheriff's Association, aiming to expand its reach across the state [3] Company Performance - SuperCom met stringent requirements for the contract, including financial stability and positive feedback from five active U.S. customers [2] - Multiple solutions from SuperCom's Pure Security suite, including PureOne, PureTrack, and PureShield, were approved for procurement under this contract [2] - The contract will follow a recurring revenue model, with billing based on daily unit count [3] Strategic Expansion - The contract win is seen as a significant milestone in SuperCom's expansion strategy within the U.S. public safety market [4] - The company is exploring new avenues for U.S. expansion, with this award providing a potentially impactful opportunity [5] - State-level procurement vehicles are expected to enable faster sales cycles and broader access to counties across the U.S., enhancing SuperCom's confidence in its expansion trajectory [5]

Non-GAAP Net Income $5.24 million; Non-GAAP EPS $1.5; Record Gross Margin 63.3%TEL AVIV, Israel, May 14, 2025 /PRNewswire/ -- SuperCom (NASDAQ: SPCB), a global provider of secured solutions for the e-Government, IoT, and Cybersecurity sectors, today reported results for the first quarter, ended March 31, 2025.First Quarter Ended March 31, 2025, Financial Highlights (Compared to the First Quarter of 2024) Revenue increased to $7.05 million, from $6.85 million. Gross profit grew 18% to $4.5 million, from $3.8 ...

Core Insights - SuperCom achieved record revenues of $27.6 million for FY 2024, marking a 134% increase from $11.8 million in 2020, and a 4% increase from $26.6 million in FY 2023 [9][10] - The company reported a gross margin of 48.4%, up from 38.5% in the previous year, and a gross profit of $13.4 million, which is a 31% increase from $10.2 million [9][10] - SuperCom recorded an EBITDA of $6.3 million for FY 2024, a 31% increase from $4.8 million in FY 2023, and the first full-year GAAP profitability since 2015 with a net income of $661 thousand [9][11] Financial Highlights for FY 2024 - Revenue increased by 134% to $27.6 million from $11.8 million in 2020 [10] - Gross profit rose by 140% to $13.4 million from $5.6 million in 2020 [10] - GAAP net income improved to a profit of $661 thousand in 2024 from a loss of $7.9 million in 2020 [10] - Non-GAAP net income shifted to a profit of $6.33 million from a loss of $1.7 million, a turnaround of over $8 million [10] - EBITDA more than doubled, growing to $6.3 million from $2.8 million [10] Financial Highlights for Q4 2024 - Revenue for Q4 2024 increased by 11.6% to $6.33 million from $5.67 million in Q4 2023 [9] - Gross profit for Q4 2024 increased to $2.7 million from $2.35 million, with a gross margin of 42.7% [9] - The net loss for Q4 2024 was ($1.86 million), compared to a loss of ($1.56 million) in Q4 2023, impacted by approximately $2 million of one-time items [9] Business Transformation and Strategy - SuperCom underwent a significant transformation since 2021, which has led to substantial improvements in financial and operational metrics despite global challenges [4][7] - The company secured over 20 new contracts in the U.S. and expanded into seven new states, enhancing its market presence [11][15] - In Europe, SuperCom reinforced its leadership position with new domestic violence monitoring contracts and expanded deployments [11][15] Management Commentary - The President and CEO highlighted 2024 as a breakthrough year with record financial milestones and the first full year of GAAP profitability in nearly a decade [11] - The company aims to scale its business and expand its global reach while delivering impactful solutions for public safety [12]