Benzinga | Aug 10, 2021 03:15PM EDT

SuperCom Q2 Result Tops Consensus

* SuperCom Ltd (NASDAQ: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.