SuperCom biometric location tracking rolled out in Caribbean, H1 2020 results released
Israeli biometrics company SuperCom has entered a contract in the Caribbean to ensure public safety and monitor offenders, following a successful pilot of its biometric location tracking technology in the region, the company announced.
The PureSecurity Suite is an electronic monitoring and tracking platform that includes smart phone integration, secure communication, advanced security, anti-tamper mechanisms, fingerprint biometrics, voice communication, unique touch screens and extended battery life.
In July, SuperCom’s location tracking technology was rolled out in three pilots in the Caribbean, Central America and South America.
“Our tracking products are flexible in adjusting to the diverse needs of our customer around the globe,” Arie Trabelsi, President and CEO of SuperCom, said in a prepared statement. “First and foremost, we focus on public safety by implementing layers of complementary technology such as GPS, cell tower location, Wi-Fi location and communication, RF tethering, carrier agnostic voice/SMS/data connectivity, biometrics and traditional landline communication.”
Trabelsi further added that “In addition to our primary focus of public safety, our technology also offers a platform for the delivery of valuable services that can benefit the offender and reduce recidivism. We feel this approach encourages greater cooperation from the offenders being monitored and incentivizes them to adhere to their release terms. Video conferencing, educational content delivery, employment search, self-reporting, two-way voice and data communications are some of our platform features that can be utilized to assist the offender.”
SuperCom H1 2020 financial results
Supercom has reported financial results for the six months of 2020 with $2.5 million EBITDA, 36 percent EBITDA Margin, and non-GAAP EPS of $0.06. In the given timeframe, revenue decreased to $6.8 million.
“The financial result highlighted an improvement in some of our financial performance compared to last year,” Trabelsi said in the announcement. “We achieved improvements in profitability margins with 36 percent EBITDA margins and GAAP gross margins of 62 percent, and as we continued to optimize our cost structure, operating expenses reached a low of $3.45 million for the first half of 2020.”
COVID-19 has driven demand for PureSecurity and PureHealth solutions, which led to more than 119 percent annualized revenue increase over last year for IoT products. Government restrictions, however, led to a 43 percent decrease in IoT services. COVID-19 has also affected cyber segment business in Israel, US, Europe and Asia.
Despite monthly revenue declines, Trabelsi remains optimistic and projects a revenue increase over the next months.
This summer, SuperCom raised $3.2 million to support health and security biometrics growth. In March, it released a tracking biometric technology-based solution for quarantine and isolation monitoring to help governments contain coronavirus, and in April, the company won a nearly $1 million contract with a national government customer for its e-Gov division.