- Electronic monitoring solutions company SuperCom Ltd. provides a suite of products and services to justice system officials worldwide, promoting public safety through the secure tracking of individuals who require supervision
- SuperCom’s PureSecurity technology has the ability to serve a wide variety of tracking purposes but is specifically targeting electronic monitoring of offenders, including domestic violence cases, drug rehabilitation services, and probation orders
- The company recently reported its second quarter and first half financial results, noting growth across multiple metrics, including record profits following a 65.2 percent surge in gross profit and 20.4 percent growth in gross profit margin
- SuperCom’s EBITDA grew by 83 percent in the quarter, and by 182 percent for the first half of the year
Electronic monitoring (“EM”) technology innovator SuperCom (NASDAQ: SPCB) is celebrating impressive developments in 2024, reporting “substantial improvements” in its gross profit, operating income, and net income as it secures new orders and contracts from government and judicial system clients.
SuperCom’s technology development and deployment are strategically focused on providing EM tools for tracking offenders supervised by nations’ crime prevention and rehabilitation infrastructures. The company also provides solutions for a variety of e-government identification services, but its advanced safety technology platform can serve private organizations as well.
The company’s efforts have resulted in a Q2 surge in gross profit (65.2 percent) for a new company record, with net income growth of 183 percent over the previous quarter, according to a news release issued in conjunction with an investor conference call conducted by SuperCom’s executive team August 15.
“Our strategic focus on cost optimization and capital management, combined with our innovative approach to technology deployment, has driven a significant turnaround in our bottom line,” CEO Ordan Trabelsi stated (https://ibn.fm/kjQ4W). “Our ability to reach gross profit margins of nearly 50% as we advance through various stages of our projects is a testament to the efficiency of our operations and the high-margin nature of our offerings.”
The financial report notes that the sales moved SuperCom’s cash flow, net income, and EPS into positive territory, accompanied by 83 percent growth in EBITDA from $0.9 million to $1.6 million.
For the first half of the year, EBITDA improved by 182 percent to $3.6 million, with the gross profit margin nearly doubling to 52.3 percent, operating income improving by $2.8 million, and the net income margin improving to 20.6 percent.
“The recent business wins, including over $11 million in new orders from European governments and several significant new contracts in North America, highlight our leadership in the public safety sector and our ability to penetrate new markets with our cutting-edge solutions,” Trabelsi stated. “Particularly noteworthy is our successful displacement of long-time incumbents in the judicial sector, showcasing the superiority of our PureOne technology. … We are excited about the opportunities ahead and believe in our ability to maintain our momentum.”
The PureSecurity GPS-based suite of hardware, connectivity, and software components is adapted for secured communication. It supports discreet wearing so that monitored individuals can move about the community freely without concerns about the social stigma that might be attached to more obvious ankle monitor devices.
Electronic monitoring doesn’t just improve the community’s safety. It also helps offenders’ function within society in a gainful manner, retaining employment and maintaining a presence within their families while reducing criminal recidivism.
“EM improves the educational attainment and early-life earnings of the children whose parents were exposed to the reform,” a research analysis published by the Journal of Public Economics stated earlier this year (https://ibn.fm/StiyW). “Our calculations suggest that the social benefits stemming from EM are about seven times larger than the fiscal savings associated with reduced prison expenditures, implying that the welfare gains from EM could be much greater than previously acknowledged.”
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 60+ 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
