Business
SuperCom Reports 141% YoY Revenue Growth and 5-Year-Record Revenue for the Second Quarter 2023
Q2 2023: 5-Year-Record Revenue of $7.7 million, Non-GAAP EPS of $0.07, & EBITDA of $0.9 million; Trailing-Twelve-Month-Period: Revenue of $25.5 million &
About this update from Supercom, Ltd.
[{"type":"text","content":"Q2 2023: 5-Year-Record Revenue of $7.7 million, Non-GAAP EPS of $0.07, & EBITDA of $0.9 million; Trailing-Twelve-Month-Period: Revenue of $25.5 million & EBITDA of $2.5 million\nTEL AVIV, Israel, July 31, 2023 /PRNewswire/ -- SuperCom (NASDAQ: SPCB), a global provider of secured solutions for the e-Government, IoT, and Cybersecurity sectors, today reported financial and operating results for the three and six months ended June 30, 2023. \nSecond Quarter Ended June 30, 2023, Financial Highlights (Compared to the Second Quarter of 2022)\nRevenue increased by 141% to $7.7 million from $3.2 million, marking a fourth consecutive quarter of high year-over-year (\"YoY\") revenue growth.Gross profit increased by 77% to $2.3 million from $1.3 million.Positive EBITDA* improved to $0.9 million compared to -($0.7) million.Net Income improved by 63% to a $1.1 million loss compared to a $2.8 million loss.Non-GAAP Net Income* improved to a $0.3 million profit compared to a $1.9 million loss.Non-GAAP EPS* improved to $0.07 compared to -($0.50).Working Capital at end of quarter was $21.2 million.Trailing-Twelve-Month Period Ended June 30, 2023, Financial Highlights (Compared to the prior twelve month period)\nRevenue increased by 106% to $25.5 million from $12.4 million.EBITDA* increased to $2.5 million from -($0.25) million.Net Income increased to –($4.9) million from -($13.0) million.First Half Ended June 30, 2023, Financial Highlights (Compared to the First Half of 2022)\nRevenue increased by 126% to $14.1 million from $6.3 million. Gross profit increased by 47% to $3.9 million from $2.6 million.Net Income improved by 50% to a $2.6 million loss compared to a $5.2 million lossNon-GAAP Net Income* improved to $0.1 million profit compared to ($3.4) million loss.EBITDA* improved to $1.3 million profit compared to a ($1.0) million loss.Non-GAAP EPS* improved to positive $0.02 compared to negative Non-GAAP EPS of ($0.70).Recent Business Highlights:\nSuperCom is well on track with the implementation of the recently awarded $33 Million national electronic monitoring (\"EM\") project in Romania. SuperCom's PureSecurity EM Suite was deployed for domestic violence monitoring, GPS Tracking of offenders, and a home detention monitoring program. As the project continues to progress, the company expects to see an upward trend in gross margins on subsequent ...