TechMediaBreaks – SuperCom Ltd. (NASDAQ: SPCB) Achieves Record Profit, 400% YoY EBITDA Growth for Q1 2024

SuperCom (NASDAQ: SPCB), a global provider of secured solutions for the e-government, IoT and cybersecurity sectors, has announced results for the three months ended March 31, 2024. Among the highlights, the company reported an 8% increase in revenue to $6.9 million from $6.4 million and 139% increase in gross profit to $3.8 million from $1.6 million compared to the first quarter of 2023. “We are pleased to report a strong start to 2024, marked by significant financial and operational achievements. This quarter, we’ve continued to see revenue growth YoY and a dramatic improvement in our profitability metrics leading to an eight-year-record profit,” said Ordan Trabelsi, president and CEO of SuperCom. “The substantial growth in our gross profit reflects the inherent quality and high-margin potential of our key projects and our successful progression through different stages of these projects. Typically, the initial stages of these projects involve higher expenses, which subsequently give way to higher gross margins as the projects advance, as demonstrated by this quarter’s results. Additionally, our EBITDA year-over-year has seen a remarkable 400% increase. This improvement is a testament to our rigorous management practices and dedication to effectively leveraging our core business infrastructure.”

To view the full press release, visit https://ibn.fm/usNKg

About SuperCom Ltd.

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, throughout the world. 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 security and safety, community public safety, law enforcement, electronic monitoring, and domestic violence prevention. For more information about the company, visit www.SuperCom.com.

NOTE TO INVESTORS: The latest news and updates relating to SPCB are available in the company’s newsroom at https://nnw.fm/SPCB

About TechMediaWire

TechMediaWire (“TMW”) is a specialized communications platform with a focus on pioneering public and private companies driving the future of technology. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, TMW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists, and the general public. By cutting through the overload of information in today’s market, TMW brings its clients unparalleled recognition and brand awareness. TMW is where breaking news, insightful content and actionable information converge.

To receive SMS alerts from TechMediaWire, text “TECH” to 888-902-4192 (U.S. Mobile Phones Only)

For more information, please visit https://www.TechMediaWire.com

Please see full terms of use and disclaimers on the TechMediaWire website applicable to all content provided by TMW, wherever published or re-published: https://www.TechMediaWire.com/Disclaimer

TechMediaWire
Los Angeles, CA
www.TechMediaWire.com
310.299.1717 Office
Editor@TechMediaWire.com

TechMediaWire is powered by IBN