/PRNewswire/ SuperCom (NASDAQ: SPCB), a global provider of secured solutions for the e-Government, IoT and Cybersecurity sectors, today reported results for.
SuperCom Reports Full Year 2020 Financial Results
USA - English
Cash & Restricted Cash increased to $4 million
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(NASDAQ: SPCB),
a global provider of secured solutions for the e-Government, IoT and Cybersecurity sectors, today reported results for the twelve months ended December 31, 2020.
Twelve-Months Ended December 31, 2020 Financial Highlights (Compared to the Prior Year Period)
Cash and cash equivalents and restricted cash increased to $4.0 million from $1.2 million last year.
Revenue decreased 29% to $11.8 million in 2020, from $16.5 million last year, mainly due to material impact from Covid-19 related government restrictions and limitations.
Gross margin increased to 47.4% in 2020 from 38.5% last year.
Operating expenses in 2020 decreased 36% to $9.3 million from $14.5 million last year.
(NASDAQ: SPCB),
a global provider of secured solutions for the e-Government, IoT and Cybersecurity sectors, today reported results for the twelve months ended December 31, 2020.
Twelve-Months Ended December 31, 2020 Financial Highlights (Compared to the Prior Year Period)
Cash and cash equivalents and restricted cash increased to $4.0 million from $1.2 million last year.
Revenue decreased 29% to $11.8 million in 2020, from $16.5 million last year, mainly due to material impact from Covid-19 related government restrictions and limitations.
Gross margin increased to 47.4% in 2020 from 38.5% last year.
Operating expenses in 2020 decreased 36% to $9.3 million from $14.5 million last year.
EBITDA improved to $2.8 million in 2020 compared to an EBITDA loss of $(0.5) million in 2019.