SuperCom reports doubled earnings for biometric monitoring products in Q3
SuperCom is reporting doubled revenue in the third quarter of 2022 to $6.3 million, and gross profit of $2.1 million, also up roughly 100 percent compared to a year ago.
The higher revenues also pushed SuperCom’s EBITDA into the black, at $0.4 million. Spending increased on both research and development and sales and marketing during the quarter.
Highlights during the quarter ended September 30 include winning what the company says is the largest European electronic monitoring contract project launched this year, a $33 million contract. SuperCom also won a series of other new contracts and extensions.
“We expect our significant investments in R&D and sales and marketing to continue to yield nice returns as we work hard to maintain our leading edge in technology and expedite market expansion with our new proactive sales approach. Taken together with our high win rates in competitive RFPs and a steady recurring revenue base of over 80 percent, we are excited and feel confident about SuperCom’s growth in the years ahead,” comments SuperCom President and CEO Ordan Trabelsi.
He also expressed satisfaction at the beginning of a return on years of investment in its IoT division, which grew by 150 percent year-over-year.
Aware moves into new HQ amid tough macroeconomic conditions
Aware is reporting Q3 revenue of $3 million and increased its recurring revenue by $0.3 million compared to the first three quarters of 2021, according to an earnings announcement.
The revenue total is down from $4.2 million both sequentially and y-o-y, though net income was boosted by a $5.7 million sale of the building in Bedford, Massachusetts which was formerly its company headquarters. Net income totalled $2.6 million, or $0.12 per diluted share, compared to a net loss of $1.3 million, or negative $0.06 per diluted share in Q2 and slightly higher losses a year ago.
EBITDA loss was $2.5 million, after an EBITDA loss of $1 million in Q3 2021.
Aware launched its new multi-modal SaaS authentication platform AwareID during the quarter, and demonstrated its biometrics solutions on the event circuit.
President and CEO Robert Eckel says that “persistent macroeconomic headwinds” have stretched out some purchase decisions, impacting revenue performance during the quarter.
“We are focused on accelerating our expansion into the commercial SaaS market and bolstering recurring revenue through organic growth and a more focused enterprise sales team,” says Eckel. “A key element of our go-to-market strategy is partnering with strategic value-added resellers and integrated product resellers that can broaden the global reach of our dynamic biometrics-based solutions. Our new Chief Revenue Officer, a proven leader with significant experience building effective enterprise sales teams, is implementing an enhanced go-to-market strategy, bolstered by new customer success initiatives. With his emphasis on swift execution, upselling, and the development of a strong partner program, we expect to drive accelerated adoption of our AwareID offering and maximize our revenue generating opportunities.”
Aware has also opened a new headquarters in Burlington, Massachusetts, which is better aligned to its hybrid working arrangements. The new building features a cloud-based biometric access security system.
Austriacard plans dual listings in Austria and Greece
Austriacard Holdings AG is applying to list equities on the Vienna and Athens Stock Exchanges, and is also merging with partially-owned subsidiary Inform Lykos through a cross-border transaction. Inform Lykos is already listed on the Athens Exchange.
The merger is expected to increase the group’s profile and geographical reach,
The company and its subsidiaries, which include Tag Systems, provide secure digital technology solutions and secure end products and services. The Group had a consolidated 2021 revenue of €178 million ($176.8 million) and €26.8m EBITDA. In the first half of 2022, revenue was up 69 percent, and EBITDA by 137 percent, y-o-y.
The merger and listing processes are expected to be completed by the end of March, 2023.
Austriacard made a major investment in payment cards, including those enabled with fingerprint biometrics, when it merged with Nitecrest just under a year ago.