SuperCom, Ltd. SPCB reported Q2 revenues of $7.748 million, beating the analyst estimate of $4.60 million. Revenues increased by 140.8% Y/Y.
Non-GAAP EPS improved to $0.07 compared to an EPS loss of $(0.50) prior year.
"We are excited to announce breakthrough performance for Q2 2023, where we outperformed expectations on multiple fronts," said Ordan Trabelsi, President and CEO of SuperCom.
Quarterly gross profit increased by 77% to $2.3 million from $1.3 million a year earlier. Working Capital at the end of Q2 was $21.2 million. The company exited Q2 with cash and equivalents worth $1.14 million.
"Our astute investments in research & development and sales & marketing have paved the way for global opportunities, enabling us to deliver exceptional value to our clients as we charge ahead resolutely towards our long-term strategic objectives," Ordan added.
Price Action: SPCB shares are trading higher by 3.5% to $1.0350 on the last check Monday.
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