Welcome to our dedicated page for Supercom news (Ticker: SPCB), a resource for investors and traders seeking the latest updates and insights on Supercom stock.
SuperCom Ltd (SPCB) is frequently featured in news coverage as a global provider of secure solutions for the e-Government, IoT, and Cybersecurity sectors, with a strong focus on electronic monitoring and public safety programs. Company announcements highlight new contracts, project launches, and expansion into additional U.S. states and international markets.
Recent press releases describe SuperCom winning national and regional electronic monitoring (EM) contracts, including national projects in European countries and multiple agreements with juvenile probation agencies, community corrections agencies, and service providers across the United States. These projects often involve GPS-based tracking, domestic violence monitoring, home detention monitoring, and broader offender supervision programs delivered through the company’s PureSecurity Suite and proprietary monitoring platforms.
News items also cover SuperCom’s progress in displacing incumbent EM technology vendors, entering new states such as Texas, North Carolina, Missouri, and Wisconsin, and securing its first state-level Department of Corrections contract in the United States through a strategic partnership in Arizona. Additional updates include national contracts in Germany and other Western European countries, as well as domestic violence monitoring projects in the EMEA region.
Investors and observers following SPCB news can expect updates on contract awards, geographic expansion, partnerships with regional service providers, financial performance highlights, and participation in investor conferences. This mix of operational and financial news provides context on how SuperCom’s identity, security, and electronic monitoring technologies are being adopted by government agencies and organizations worldwide.
SuperCom (NASDAQ: SPCB) has secured a new 5-year contract with the government of Latvia, valued at approximately $1.2 million. This contract involves the deployment of its advanced PureSecurity Electronic Monitoring Suite, which includes RF House Arrest and GPS tracking solutions. Following a successful bid process, SuperCom will generate steady-state recurring revenues from this nationwide program managed by the Ministry of Justice. The launch signifies SuperCom's continued expansion in Europe and emphasizes the demand for modern electronic monitoring technologies.
SuperCom (NASDAQ: SPCB) has secured a contract to provide its PureSecurity Electronic Monitoring suite in Wisconsin, following a successful pilot program. This achievement highlights SuperCom's ongoing momentum in the US and international markets, showcasing the flexibility and innovation of their monitoring technology. President Ordan Trabelsi emphasized the importance of public safety and the comprehensive features of their platform, which includes GPS and biometrics, solidifying their position as a leading provider in a competitive market.
SuperCom (NASDAQ: SPCB) received a notice from Nasdaq, indicating non-compliance with Listing Rule 5550(a)(2) due to its stock closing below $1.00 for 30 consecutive business days. SuperCom has a 180-day compliance period until April 19, 2021, to meet the minimum bid price requirement. It expects to regain compliance by maintaining a stock price above $1.00 for at least 10 consecutive business days. A failure to do so may lead to a second compliance period or a reverse stock split to restore compliance.
SuperCom (NASDAQ: SPCB) has announced a new contract in the Caribbean region, following a successful pilot launched on July 10. The company specializes in secure solutions for e-Government, IOT, and Cybersecurity, with a focus on public safety through its human tracking technology. This technology enables secure monitoring of offenders, aiming to reduce recidivism by offering supportive services such as educational content and employment assistance. The contract reflects strong international interest in SuperCom's innovative solutions.
SuperCom (NASDAQ: SPCB) reported its financial results for the first half of 2020, highlighting a GAAP operating income of $0.8 million and a non-GAAP net profit of $0.9 million ($0.06 per share). The company's operating expenses decreased to $3.45 million, while gross margins improved to 62%. However, total revenue fell to $6.8 million, attributed to COVID-19 impacts, with the e-Gov and IoT services segments seeing significant declines. Despite challenges, the IoT products segment saw over 119% revenue growth, driven by increased demand for monitoring solutions amidst the pandemic.
SuperCom (NASDAQ: SPCB) announced it will release its financial results for the first half of 2020, ending June 30, 2020, on September 3, 2020, before the market opens. The company, a provider of secure solutions in e-government, public safety, healthcare, and finance, has been operating since 1988. They specialize in identity solutions, including advanced safety and biometric services. SuperCom aims to support governments in issuing secure Multi-ID documents and digital identity solutions.
SuperCom (NASDAQ: SPCB) announced the successful closing of a private placement financing, raising $3.2 million by issuing 2,370,000 unregistered ordinary shares at $1.35 each. The deal, facilitated by Maxim Group LLC, included warrants with an exercise price of $1.70 per share, exercisable for five years. CEO Arie Trabelsi stated that the proceeds will enhance working capital and support growth in their Pure Health and Pure Security solutions, aiming for higher-margin recurring revenue streams. The securities are unregistered and were offered only to accredited investors.
SuperCom (NASDAQ: SPCB) announced the shipment of equipment for three new pilots of its people tracking solutions in the Caribbean, Central America, and South America. The shipments include technology from its PureHealth COVID-19 suite and PureSecurity electronic offender monitoring suite, aimed at enhancing public safety and compliance with stay-at-home regulations. This move reflects increasing demand from government entities for versatile tracking solutions that ensure citizen comfort while enabling effective monitoring capabilities.
SuperCom (NASDAQ: SPCB) has received a notification from Nasdaq regarding non-compliance with Listing Rule 5250(c)(1) due to the late filing of its Form 20-F for the year ended December 31, 2019. The company has 60 days to submit a Compliance Plan to regain compliance. SuperCom aims to file the required document within 30 days. The notification does not affect the trading status of its ordinary shares on the Nasdaq Capital Market.
SuperCom (NASDAQ: SPCB) announced a $3.2 million private placement agreement with accredited investors, involving the issuance of approximately 2,370,000 ordinary shares at $1.35 per share, accompanied by warrants. These warrants can be exercised at $1.70 per share, expiring in five years. The funds raised will support working capital and enhance technology solutions, particularly in Pure Health and Pure Security. Maxim Group LLC is the sole placement agent, and the securities have not been registered under the Securities Act.
FAQ
What is the current stock price of Supercom (SPCB)?
What is the market cap of Supercom (SPCB)?
