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SuperCom Secures New Electronic Monitoring Contract in California Valued at up to $3 Million
New Alcohol Monitoring Contract with Recurring Revenue and an Initial 3-year Term OAKLAND, Calif., Aug. 16, 2023 /PRNewswire/ -- SuperCom (NASDAQ: SPCB), a
About this update from Supercom, Ltd.
[{"type":"text","content":"New Alcohol Monitoring Contract with Recurring Revenue and an Initial 3-year Term \nOAKLAND, Calif., Aug. 16, 2023 /PRNewswire/ -- SuperCom (NASDAQ: SPCB), a global provider of secured solutions for the e-Government, IoT, and Cybersecurity sectors, announced today that, through its fully-owned subsidiary Leaders in Community Alternatives (LCA), it has secured a new contract to provide Alcohol Monitoring technologies and services in California. This contract builds on the Company's continued success in delivering high-quality services and cutting-edge monitoring solutions to government agencies. Also, it further solidifies the Company's strong position in the electronic monitoring industry.\n \nThe new alcohol monitoring contract is already in effect and scheduled to run until 2026, including an initial 3-year period and the potential for future extensions. This contract win marks another milestone for SuperCom's expansion into the US market. Moreover, it further solidifies SuperCom's rapport with a prominent long-term partner in the criminal justice sector.\nThe customer is billed at a per-unit daily rate for alcohol monitoring services and steady-state recurring revenue is generated accordingly. Based on expected usage estimates, the contract is valued at up to USD 3 million over the initial 3-year term. However, revenues recognized by SuperCom will depend on actual usage.\n\"Our reputation for providing reliable and high-quality electronic monitoring services was pivotal in securing the contract,\" commended Ordan Trabelsi, CEO and President of SuperCom. \"This contract marks another strong achievement, building on our track record of securing numerous new electronic monitoring contracts in the United States and Europe. We are proud to have been chosen once again to support California's criminal justice system. Our long-standing relationships with county customers and law enforcement underscores their trust in our technology and services,\" Ordan continued.\n\"As we move forward, we remain committed to fostering strong partnerships, driving technological advancements, and delivering top-tier solutions that address the unique challenges faced by the criminal justice system. With a focus on technology innovation and global expansion, SuperCom is well-positioned to help lead the electronic monitoring industry into the future,\" O...