- SuperCom (SPCB, Financial) achieved record revenue of $27.6 million for FY 2024, up 4% YoY.
- First full-year GAAP profitability since 2015, with a net income of $661,000.
- Secured over 20 new electronic monitoring contracts in the US.
SuperCom (SPCB), a global provider of secured solutions, reported record-breaking financial results for FY 2024, setting new highs in revenue, EBITDA, and net income. The company marked its first full-year GAAP profitability since 2015, achieving a net income of $661,000. The year ended with a revenue increase of 4% to $27.6 million, with a notable gross margin expansion to 48.4%.
The company continued its four-year growth trajectory, with revenue rising 134% from $11.8 million in 2020. Despite a Q4 2024 net loss of $1.86 million due to one-time items including $1.5 million in bad debt expense, quarterly revenue increased 11.6% to $6.33 million.
SuperCom's strategic moves were highlighted by securing over 20 new electronic monitoring (EM) contracts and expanding into seven new US states, including Ohio, Arizona, and New York. Additionally, national contracts were won in Israel and several European countries, demonstrating the growing adoption of their PureSecurity suite.
The company's financial position was further strengthened in early 2025 by reducing outstanding debt by 32% and raising over $16 million through a Registered Direct Offering and warrant exercises. This capital influx aligns with SuperCom's strategy to enhance its growth capabilities and market expansion, particularly in the public safety and security sectors.
