- SuperCom’s superior electronic monitoring (“EM”) technology is highly competitive when it comes to tracking house arrest subjects and domestic violence offenders, allowing the company to expand its client base and revenue performance this year
- Israel-based SuperCom is improving law enforcement agencies’ capacity to monitor offenders on supervised release as a community-building and budget-conscious alternative to incarceration and to help reduce recidivism
- The company recently reported third-quarter financial information, including data on YoY revenue growth from $20.9 million to $21.3 million in the first 9 months and $6.78 million to $6.91 million during Q3. Also, the company reported on YoY EBITDA growth from $3.7 million to $4.6 million in the first 9 months.
- SuperCom’s recent client contract wins have included expansion into various states in North America, plus over $13.5 million in projects for European governments
Electronic monitoring (“EM”) technology developer SuperCom (NASDAQ: SPCB) reported the success of its international expansion initiatives recently in a Q3 earnings call that included details about increased revenue and gross profit margin.
SuperCom has developed EM technology under its PureSecurity platform, which offers competitive performance improvements over legacy services in domestic violence offender tracking, house arrest monitoring, and other critical GPS-based tracking applications.
The company’s production of a device with a battery life of up to one year without recharging makes it particularly attractive to clients. In addition, its sleek, unobtrusive visuals further the industry’s aim of helping offenders and accused individuals reintegrate into society and avoid reoffending rather than being incarcerated in an overcrowded and costly prison system.
SuperCom’s Nov. 14 report highlighted its ongoing increase in revenue to $21.3 million for the first nine months of the year, as well as a dramatic improvement in gross profit margin to 50.1% from 30.7% on a year-over-year basis (https://ibn.fm/zYuPj).
“Our financial results for the third quarter and the first nine months of 2024 reflect the successful execution of our strategic initiatives, which have been driving revenue growth, improving profitability and enhancing cash flow,” SuperCom President and CEO Ordan Trabelsi stated (https://ibn.fm/4j0E1). “This quarter was particularly exciting as we solidified our leadership position with key contract wins, including the prestigious National Israeli Electronic Monitoring project. We also expanded into new regions, including New York, West Virginia and Maryland, further strengthening our footprint in the U.S. market.”
The Israeli Prison Service state agency (“IPS”) project will allow authorities to monitor an estimated 1,500 enrollees nationwide in all of the country’s EM offender programs for five years (already underway), with an option to extend the contract for four additional periods of one year.
SuperCom’s use of GPS and RFID technology allows trackers to see the movements of supervised individuals in three dimensions, with elevation data incorporated into information on where someone is located on a grid plane. That ability is particularly useful when the monitored subject is in a high-rise apartment or office building.
The technology notifies authorities if boundaries are trespassed by the monitored individuals and can also notify identified potential victims via smartphone, giving them an opportunity to take preventative or defensive measures in a timely fashion.
The Q3 report also notes that the company has reversed an operating loss to finish with an operating income of $1.13 million, evidence of the company’s financial discipline.
“The U.S. market moves faster than Europe, often involving counties and resellers rather than national projects. This requires more feet on the ground due to the fragmented market,” Trabelsi said. “We are focused on maintaining profitability while optimizing our cash use and sales efforts. We have seen growth even as we work efficiently with our capital.”
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
About QualityStocks
QualityStocks (“QS”) is a specialized communications platform with a focus on private and public companies and the investment community. It is one of 70+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, QS is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, QS brings its clients unparalleled recognition and brand awareness. QS is where breaking news, insightful content and actionable information converge.
For more information, please visit https://www.QualityStocks.com
Please see full terms of use and disclaimers on the QualityStocks website applicable to all content provided by QS, wherever published or re-published: https://www.QualityStocks.com/Disclaimer
QualityStocks
Scottsdale, AZ
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
QualityStocks is powered by IBN
