SuperCom Reports 550% YoY EBITDA Growth and 5-Year-Record Net Profit for the Third Quarter 2023
TEL AVIV, Israel, Nov. 14, 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 nine months ended September 30, 2023.
- Third Quarter Ended September 30, 2023, Financial Highlights (Compared to the Third Quarter of 2022)
Revenue increased to $6.8 million from $6.3 million, marking a fifth consecutive quarter of year-over-year ("YoY") revenue growth. - Net Income improved 107% to $0.15 million compared to Net Loss of ($2.2) million.
- Non-GAAP Net Profit improved 256% to $1.6 million compared to Net Loss ($1.0) million.
- A 5-year record net profit, remarkable 550% growth in EBITDA and 74% growth in gross profit margins are clear indicators of the successful execution of our growth strategy.