Super .(US:SPCB)2022-04-01 01:28Financial Data and Key Metrics Changes - The company achieved a 4% increase in revenue for the full year of 2021, marking the first growth since 2017 [34] - EBITDA decreased to $2.1 million in 2021 from $2.8 million in 2020, impacted by the completion of a maintenance contract with an African client [34] - Gross margins improved to 51% in 2021, up from 47% the previous year, primarily due to enhancements in the Services segment [35] - The company reported an operating loss of $6.7 million in 2021, compared to a loss of $3.7 million in 2020, largely due to one-time expenses [37] Business Line Data and Key Metrics Changes - The IoT division grew from $7.6 million to $8.9 million, indicating a shift from legacy identification business to public safety business [46] - E-Gov revenues declined from $1.9 million to $1.7 million, while cybersecurity revenues decreased from $2.2 million to $1.6 million [46] Market Data and Key Metrics Changes - The electronic monitoring market was valued at approximately $1.1 billion in 2020 and is estimated to reach $1.6 billion by 2025, with the U.S. and Europe constituting about 95% of these markets [18] - The company has seen an uplift in RFP bid activity in Europe, with over $200 million in expected project bid opportunities in the next 18 months [19] Company Strategy and Development Direction - The company is focusing on revolutionizing the public safety sector through proprietary electronic monitoring technology and data intelligence [12] - A strategic shift has been made away from legacy business towards recurrent revenues in developed countries, particularly in the IoT tracking business [23] - The company aims to enhance growth through strategic acquisitions and local support providers with strong reputations [30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's future despite the uncertainties posed by the global pandemic and geopolitical crises [9] - The company anticipates continued project wins and deployment as it executes its business plan [54] Other Important Information - The company raised $4.65 million in a registered direct offering in March 2022, providing additional liquidity to execute its business plan [32] - The company has won over $25 million worth of projects in California since acquiring LCA in 2016, indicating strong market presence [24] Q&A Session Summary Question: Can you tell us more about the contract closed in Croatia? - Management expressed excitement about winning Croatia's first nationwide electronic monitoring contract, competing against several vendors and scoring the highest [39][40] Question: Is the Finland contract live yet, and what are the delays? - Management clarified that they do not expect similar delays with Croatia as seen in Finland, where an appeal process caused delays [45] Question: What are the revenue figures for e-Gov and cybersecurity? - Management provided unaudited figures showing e-Gov revenues declined from $1.9 million to $1.7 million, and cybersecurity revenues decreased from $2.2 million to $1.6 million, while IoT grew from $7.6 million to $8.9 million [46]