SuperCom books $11M in new orders and contracts in Europe and US

SuperCom has, yet again, announced a series of developments, showcasing its expanding influence and financial success in both European and U.S. markets.

The company secured new orders and contracts totaling $8.5 million from various European governments between June to September 2024. SuperCom received additional orders valued at $2.6 million and $2.9 million from European entities, with delivery expected within three to four months. The company also announced it has secured new orders worth over $3 million, with expected delivery in the third quarter of 2024. SuperCom declined to reveal which countries the orders had come from in each case.

“We are delighted to continue strengthening our collaboration with European governments,” says Ordan Trabelsi, president and CEO of SuperCom.

The company’s European expansion is supported by its products, including its PureSecurity suite, which is an end-to-end electronic monitoring tool with GPS tracking that combines multiple biometric technologies to deliver advanced monitoring tools tailored for criminal justice agencies.

Contracts in the United States

In the U.S., SuperCom secured a contract with a Baltimore-based service provider in Maryland. Launched in June 2024, the contract is projected to yield an annual recurring revenue (ARR) of around $250,000.

The new partnership enables SuperCom to deploy its GPS technology alongside its round-the-clock monitoring center services.

Additionally, SuperCom has won multiple new contracts in West Virginia with sheriff agencies to deploy its PureOne technology. These contracts are set to also leverage SuperCom’s PureOne suite, with cellular and WiFi communication capabilities, to provide monitoring services in rural areas with limited cellular coverage.

The company also secured a contract in North Carolina for its biometric offender monitoring technology in May 2024.

Adding to its portfolio, SuperCom has reported a record profit for Q2 2024, with net income growth of 183 percent quarter-over-quarter and an earnings per share (EPS) of $0.06. The company reported revenue of $7.5 million, a slight decrease from $7.7 million in Q2 2023, but its gross profit surged by 65.2 percent to $3.7 million, up from $2.3 million, with the gross profit margin expanding to 49.6 percent from 29.2 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 adds.

“Particularly noteworthy is our successful displacement of long-time incumbents in the judicial sector, showcasing the superiority of our PureOne technology. As we continue to expand our global footprint, these wins are expected to contribute meaningfully to our top line in the coming quarters.”

Article Topics

biometrics  |  Europe  |  financial results  |  government purchasing  |  stocks  |  SuperCom  |  United States