- SuperCom Ltd SPCB reported second-quarter FY21 revenue growth of 2% quarter-on-quarter to $3.09 million, beating the analyst consensus of $3 million.
- Margins: The gross margin expanded 230 bps to 57.6% as the costs declined 3.2% Q/Q.
- The non-GAAP gross margin grew 220 bps to 60.4%.
- The EBITDA margin expanded 60 bps to 22.1% as expenses rose 4.6% Q/Q.
- Loss per share of $(0.04) beat the analyst consensus loss of $(0.10).
- SuperCom held $10.9 million in cash and equivalents.
- SuperCom continued to see momentum in its IoT Tracking segment as SuperCom's remote monitoring solutions addressed overpopulated prison issues, led to substantial cost savings, and reduced recidivism among offenders.
- Price Action: SPCB shares traded lower by 1.67% at $1.18 on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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