New Alcohol Monitoring Contract with Recurring Revenue and an
Initial 3-year Term
OAKLAND,
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.
The 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.
The 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.
"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.
"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," Ordan
concluded.
About SuperCom
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, worldwide. 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 healthcare and homecare,
security and safety, community public safety, law enforcement,
electronic monitoring, livestock monitoring, and building and
access automation.
SuperCom's website is http://www.supercom.com
Cautionary Note Regarding Forward-Looking
Statements
This press release contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. Statements preceded or followed by or that
otherwise include the words "believes", "expects", "anticipates",
"intends", "projects", "estimates", "plans", and similar
expressions or future or conditional verbs such as "will",
"should", "would", "may" and "could" are generally forward-looking
in nature and not historical or current facts. These
forward-looking statements are subject to risks and uncertainties
that could cause our actual results to differ materially from the
statements made. Examples of these statements include, but are not
limited to, statements regarding business and economic trends, the
levels of consumer, business and economic confidence generally, the
adverse effects of these risks on our business or the market price
of our ordinary shares, and other risks and uncertainties described
in the forward looking statements and in the section captioned
"Risk Factors" in our Annual Report on Form 20-F for the year ended
December 31, 2022, filed with the
U.S. Securities and Exchange Commission (the "SEC") on April 20, 2023, our reports on Form 6-K filed
from time to time with the SEC and our other filings with the SEC.
Except as required by law, we not undertake any obligation to
update or revise these forward-looking statements, whether as a
result of new information, future events or otherwise, after the
date of this press release.
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SuperCom Investor
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SOURCE SuperCom