StockNews.AI
SPCB
StockNews.AI
91 days

SuperCom Secures New Contract in Virginia, Rapid U.S. Expansion Continues

1. SuperCom secures EM contract in Virginia, marking 9th U.S. state entry. 2. SuperCom outperformed competitors to displace incumbent vendor in the region. 3. Recent quarterly net income reached $4.2 million with gross margins of 63.3%. 4. Company focused on expanding technology offerings and recurring revenue base. 5. Expansion showcases demand for its advanced GPS monitoring technology.

8m saved
Insight
Article

FAQ

Why Bullish?

The expansion into Virginia signifies growing market confidence and increasing revenue potential. Historical growth examples indicate that successful contracts often lead to stock price appreciation.

How important is it?

The article directly addresses new business achievements and financial performance, likely affecting investor sentiment. The significant contract in Virginia could enhance SPCB's visibility and attractiveness to investors.

Why Short Term?

Immediate revenue boost anticipated from the new contract, likely influencing short-term stock performance. Recent financial success could catalyze investor interest quickly.

Related Companies

SPCB
Marks SuperCom's 9th New U.S. State Entry Since Mid-2024 and Displacement of Another Incumbent , /PRNewswire/ -- SuperCom (NASDAQ: SPCB), a global provider of secure solutions for the e-Government, IoT, and Cybersecurity sectors, announced today that it has successfully secured a new electronic monitoring (EM) contract with an established service provider based in Virginia to immediately deploy its PureSecurity Electronic Monitoring technology. This agreement marks SuperCom's entry into Virginia—its ninth new U.S. state since mid-2024—further expanding its national footprint and reinforcing the company's rapid expansion momentum across North America. The provider, a seasoned player in Virginia's electronic monitoring sector with deep familiarity in competing technologies, selected SuperCom following a rigorous evaluation and hands-on testing of its solutions. By demonstrating clear advantages in performance and innovation, SuperCom successfully displaced the incumbent vendor. The provider has committed to fully and rapidly transitioning its current GPS electronic monitoring program to SuperCom's PureOne™ GPS tracking technology. Under the agreement, SuperCom will serve as the provider's primary technology partner in Virginia, supporting both current operations and future statewide expansion, with the potential for continued growth through new business opportunities. "We're excited that within less than a week from reporting a strong start to the year with our first quarter 2025 financial results, achieving records in quarterly net income of $4.2 million and gross margins of 63.3%, we're able to announce our expansion into the 9th new U.S. state since last summer," said Ordan Trabelsi, President and CEO of SuperCom. "This new contract in Virginia marks another important step forward in our U.S. expansion strategy and demonstrates continued demand for our advanced GPS monitoring technology." "After consistently displacing incumbents in recent years, such as a 24-year incumbent in Sweden and a nearly 20-year incumbent in Israel, we're proud to have once again been chosen over the incumbent vendor as we advance our U.S. expansion. As we continue executing our expansion strategy, we remain focused on entering new regions, strengthening our recurring revenue base, and supporting public safety with our proprietary, state-of-the art technology," Trabelsi concluded. About SuperCom Since 1988, SuperCom has been a global provider of traditional and digital identity solutions, providing advanced safety, identification, and security solutions to governments and organizations, both private and public, worldwide. Through its proprietary e-Government platforms and innovative solutions for traditional and biometrics enrollment, personalization, issuance, and border control services, SuperCom has inspired governments and national agencies to design and issue secure Multi-ID documents and robust digital identity solutions to its citizens and visitors. SuperCom offers a unique all-in-one field-proven RFID & mobile technology and product suite, accompanied by advanced complementary services for various industries, including healthcare and homecare, security and safety, community public safety, law enforcement, electronic monitoring, and domestic violence prevention. For more information, please visit SuperCom's website: www.supercom.com. Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded or followed by or that otherwise include the words "believes", "expects", "anticipates", "intends", "projects", "estimates", "plans", and similar expressions or future or conditional verbs such as "will", "should", "would", "may" and "could" are generally forward-looking in nature and not historical or current facts. These forward-looking statements are subject to risks and uncertainties that could cause our actual results to differ materially from the statements made. Examples of these statements include, but are not limited to, statements regarding business and economic trends, the levels of consumer, business and economic confidence generally, the adverse effects of these risks on our business or the market price of our ordinary shares, and other risks and uncertainties described in the forward looking statements and in the section captioned "Risk Factors" in our Annual Report on Form 20-F for the year ended December 31, 2024, filed with the U.S. Securities and Exchange Commission (the "SEC") on April 28, 2025 our reports on Form 6-K filed from time to time with the SEC and our other filings with the SEC. Except as required by law, we not undertake any obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this press release. Logo: https://mma.prnewswire.com/media/2076604/SuperCom_Logo.jpg SuperCom Investor Relations: [email protected] SOURCE SuperCom WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

Related News