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SuperCom Ltd. (NASDAQ: SPCB) Secures New $1.8 Million Contract with a Trusted Long-Term Government Customer

  • SuperCom Ltd. is a company focused on serving government and institutional electronic monitoring needs on a global basis
  • SuperCom’s competitive strength in serving the electronic and digital security ID market is demonstrated in its most recent $1.8 million contract with a long-term client
  • SuperCom’s most recent quarterly financial statement shows a 400 percent YOY increase in EBITDA, as well as revenue growth of 8 percent and gross profit growth of 139 percent

Secured electronic and digital solutions innovator SuperCom (NASDAQ: SPCB) recently announced that it has secured a new $1.8 million contract with a long-standing customer of its e-Government division, showcasing the company’s continued competitiveness and the values that help it retain clients. The new contract is expected to be fulfilled over the next five months. For over 30 years, SuperCom has been a trusted partner with over 20 national governments around the world, recognized as a global leader in the design, development, integration, and delivery of highly secured national ID and e-government solutions (https://nnw.fm/aVR2s).

SuperCom’s e-government platforms help governments, and their agencies create secured, multi-identification (Multi-ID) documents and issue them for various needs ranging from border control services to biometrics enrollment. The company supports the public safety sector globally with proprietary solutions, as well as complementary services for its flagship products that support e-government, IoT and cybersecurity sectors.

The new $1.8 million contract is with a customer that has been a SuperCom client for over a decade and follows on the heels of SuperCom’s quarterly statement that highlights $5 million in recent orders the company has received from various European governments.

“This contract not only signifies their satisfaction with our work but also their confidence in SuperCom’s ability to consistently deliver high-quality products and services,” President and CEO Ordan Trabelsi stated in the company’s May 16 announcement (https://nnw.fm/KBlhZ). “Our ability to secure more contracts of this magnitude with our long-term customers demonstrates our competitive edge and unwavering dedication to their success.”

Much of SuperCom’s corporate focus is on the capacity of its PureSecurity Suite of products to deliver an end-to-end, real-time electronic monitoring (“EM”) solution marketed principally to judicial and law enforcement agencies as a means of establishing community safety protocols while the agencies explore cost-saving alternatives to incarceration. The use of EM solutions for tracking non-incarcerated criminal suspects and convicted offenders has increased on a vast scale in recent years. The Vera Institute of Justice recently reported that about a half million people in the United States participated in EM programs between 2021 and 2022, following a five-fold jump in EM use between 2005 and 2021 (https://nnw.fm/8bKkJ). The growing use of EM underscores the strength of the market opportunity for SuperCom.

According to the quarterly financial statement issued earlier this month, SuperCom’s revenues increased by 8 percent and gross profit by 139 percent (https://nnw.fm/hw2qN). That also resulted in a 400 percent YOY growth in the company’s EBITDA.

The company is focused on expanding with more county and state partners in North America, as well as advancing its distribution area in Europe, where a number of national-level contracts are already in place.

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 https://nnw.fm/SPCB

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