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NEW YORK - SuperCom (NASDAQ:SPCB), a $45.5 million market cap security solutions provider that has seen its stock surge over 130% year-to-date according to InvestingPro data, has secured a new electronic monitoring contract with a sheriff’s department in Wisconsin, the company announced Wednesday in a press release.
The project, which will deploy SuperCom’s PureSecurity technology for a domestic violence monitoring program, marks the company’s entry into its 12th new U.S. state since August 2024. The contract follows a recurring revenue model with monthly billing based on daily unit usage.
According to the announcement, the Wisconsin agency selected SuperCom after evaluating multiple technology providers, citing tracking precision, system reliability and mobile integration capabilities as deciding factors. The agency also plans to expand into traditional GPS tracking.
"This latest win further validates a nationwide shift toward more modern, effective electronic monitoring systems," said Ordan Trabelsi, President and CEO of SuperCom. The company’s strong execution is reflected in its financial performance, with InvestingPro data showing healthy gross margins of 53% and a robust current ratio of 10.29, indicating strong liquidity position.
The company reports signing over 30 new contracts and 11 service provider agreements across the United States since August 2024. SuperCom claims it has been awarded more than 15 national projects globally and is experiencing increased demand for its domestic violence monitoring solutions.
SuperCom provides security solutions for e-Government, IoT, and cybersecurity sectors. The Wisconsin deployment adds to the company’s electronic monitoring presence, which now spans multiple states across the country. With annual revenues of $27.4 million, the company shows promising growth potential, and InvestingPro analysis reveals 11 additional key insights about SuperCom’s financial health and market position available to subscribers.
In other recent news, SuperCom has announced several key developments. The company secured a new electronic monitoring contract with a community corrections agency in Alabama, marking its second contract win in the state this year. This agreement will utilize SuperCom’s PureSecurity Suite, including its PureOne GPS monitoring solution, and follows a recurring revenue model based on daily active units. Additionally, SuperCom has expanded its reach in the United States by securing a new electronic monitoring contract in Tennessee. This marks the company’s entry into its 11th new U.S. state since mid-2024, as it continues to grow within the North American public safety market. The Tennessee contract will see the deployment of SuperCom’s PureSecurity technology, including the PureOne and PureShield systems for domestic violence monitoring. These developments highlight SuperCom’s ongoing efforts to expand its presence and offerings in the electronic monitoring sector.
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