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SPCB

SuperCom, Ltd.

SuperCom, Ltd. is classed by the SEC under Semiconductors & Related Devices (industry code 3674). In its latest annual figures on file, for the fiscal year ended 2025-12-31, it reported revenue of $28 million and a profit of $4 million (its filed statements).

Product business Semiconductors & Related Devices filings since 2004 8 of 9 filed, 1 estimated
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4.4/10headline grade
vs its business-model standard
3.2/10past 5.0/10present 5.0/10future

Three tenses, nine metrics. Unseen metrics stay unseen; the grade never fakes a number. Proxy era: provisional values, marked. Weighed as a product business: prior from its industry code (SEC 3674, Semiconductors & Related Devices); the filing read can change it. All three tenses have at least two readings, so the archetype blend applies as printed.

The grade, in three tenses

Headline 4.4 out of ten, 8 of 9 metrics filed and 1 estimated: past 3.2 out of ten, present 5.0 out of ten, future 5.0 out of ten. The past asks what it actually did, the present what it is doing right now, the future what it is set up to do next.

The nine metrics

  • Surviving crises (past): 4.6 out of ten. 4 warning events since 2017; the latest 2020-06-15. 46th percentile among 99 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Track record (past): 3.2 out of ten. +3.8% a year over 10 filed years; profitable in 2 of 10. 32nd percentile among 93 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Shareholder treatment (past): 0.8 out of ten. Share count grew 199.6% a year. 0% of cash flow returned. Insiders: 0 sales, 0 purchases. 8th percentile among 67 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Financial health (present): 4.4 out of ten. ROE 9%: 9¢ of profit per shareholder dollar. Leverage 36%: owes 36¢ per asset dollar. 44th percentile among 95 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Industry position (present): 5.5 out of ten. top 45% of 97 in its family; net margin 13.4%. 55th percentile among 97 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Leadership (present): 5.3 out of ten. CrossAssetData estimate 5.3/10, confidence 20 of 100 (family median). 50th percentile among 78 sector filers. A CrossAssetData estimate, not a filed reading: family median, confidence 20 of 100; its next annual report on file with the inputs replaces this estimate with the filed reading.
  • Room to expand (future): 3.9 out of ten. bottom 39% of 94 in its family for room to expand. 39th percentile among 94 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Growth drivers (future): 5.8 out of ten. top 42% of 93 in its family for growth drivers. 58th percentile among 93 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Expectations vs reality (future): 6.0 out of ten. top 40% of 88 in its family for expectations against reality. 60th percentile among 88 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).

The filing record

Newest annual report: Form 20-F filed 2026-04-28 for the period ended 2025-12-31 (on EDGAR). Newest filing: Form 6-K, 2026-09-30. Filings on record since 2004. Read from EDGAR 2026-10-12.

How the company works

Read from its Form 20-F filed 2026-04-28.

The people

Arie Trabelsi has led SuperCom since November 2010, when he joined as president and chief executive, bringing more than 30 years in wireless, internet and communications. He was chief executive until February 2022, apart from a gap between November 2011 and June 2012, has chaired the board since February 2019 and has also been the acting chief financial officer since then. [1, 2]

Ordan Trabelsi is president and chief executive. He joined in May 2013 as the second US employee, grew the American business as president of SuperCom Inc. and of Leaders in Community Alternatives, and became president and chief operating officer in February 2022. Barak Trabelsi joined in January 2013, ran the IoT unit from 2016 to February 2022 and became chief business and technology officer in March 2026. Three of the named officers share the family name Trabelsi; the filing does not say how they are related. Lester Villeneuve has run the US monitoring subsidiary LCA since 2023. [3, 4, 5, 6]

The board has four members: Arie Trabelsi and three independent directors, Shoshana Cohen Shapira (since February 2019), a lawyer; Oren Raoul De Lange (since March 2021), a lawyer and accountant; and Tal Naftali Shmuel (since March 2022), an accountant. Directors and officers together own less than one percent of the shares, and the only large holder the filing names is Mas Alpha Securities Fund, with about 5.6%. [7, 8, 9, 10, 11, 12, 13]

SuperCom had 133 full-time employees at the end of 2025, up from 124 and 121 in the two years before, not counting service providers: 103 in research, development and operations, 16 in marketing and sales and 14 in administration. More of them now work in the United States (74) than in Israel and Europe (59). Its Israeli staff are not unionized, and some of its officers and employees are called up for annual military reserve duty. [14, 15, 16, 17, 18]

How it operates

SuperCom, founded in Israel in 1988, sells security technology to governments and organizations through three units. The largest, IoT and Connectivity, centers on electronic monitoring for justice agencies: the PureOne tracking bracelet, the PureTag bracelet and PureCom base station for house arrest, GPS offender tracking, inmate monitoring inside prisons and a domestic violence victim protection system, all run from its cloud software, PureMonitor. The unit also sells RFID asset tags and, through Alvarion, Wi-Fi networking gear. The e-Gov unit builds systems for national ID cards, passports, driver's licenses and border control on its MAGNA platform, and the Cyber Security unit sells Safend's data protection software. [19, 20, 21, 22, 23, 24, 25]

It earns from equipment sold or rented, monitoring service fees, software licenses, multi-year maintenance and the design and deployment of government systems. Monitoring customers typically pay a net rate per person per day or a fixed monthly rate. Products brought in about three quarters of 2025 revenue and services the rest. In the United States, its subsidiary Leaders in Community Alternatives (LCA), bought in January 2016, runs electronic monitoring and community programs such as daily reporting centers under contracts with government agencies. [26, 27, 28, 29, 30]

A few customers carry the company. One customer took 25% of 2025 revenue, while a single customer had taken 53% in 2024 and 50% in 2023. The notes name them only by letter: Customer A rose from 2% to 25%, Customer B from 6% to 15%, and Customer C, the dominant buyer of the two years before, fell from 53% to 14%. A sale to a government typically takes three to 24 months to close. [31, 32, 33]

The company reports in US dollars, its functional currency. By region, Europe was still the largest market in 2025 at 12.0 million dollars, 42.9% of revenue, but down 34.1%; Israel jumped to 7.9 million, 28.3%, from 1.5 million; the United States held at 7.0 million, 25.1%; and Africa brought in 1.0 million. [34, 35]

It designs its devices and outsources much of the making: printed circuit boards and enclosures come from suppliers in Israel and the Far East, and ID card materials such as Teslin paper from the Far East, Europe, the United States and Israel; electronic assembly is done in Israel, Europe and the United States. For some components it relies on a single vendor. It owns no real estate, leasing offices and warehouses in Tel Aviv, Netania and Migdal HaEmek in Israel and offices in California, Kentucky and Miami. [36, 37, 38, 39]

The specifics

SuperCom was incorporated in Israel in July 1988 and was a development-stage company until 1999. It took back its original name from Vuance Ltd. in January 2013. It sold most of its e-Gov division to OTI at the end of 2006, bought OTI's SmartID division in December 2013, and between November 2015 and May 2016 bought the cyber security firms Prevision and Safend, the US monitoring operator LCA, the PowaPOS business and the Wi-Fi maker Alvarion. [40, 41, 42, 43, 44]

It names its potential competitors unit by unit: in electronic monitoring G4S, STOP, Omnilink, Sentinel, BI (GeoGroup) and Buddi; in identity systems Face Technologies, Zetes Industries, Mühlbauer Group, Oberthur Technologies, Thales, Bundesdruckerei and Nadra; in cyber security Intel Security, Symantec, Sophos and Trend Micro. It holds 50 issued patents in the United States and 72 elsewhere, and uses some OTI intellectual property for its e-Gov projects under a license that came with the SmartID purchase. [45, 46, 47]

Being based in Israel shapes the business. The filing says the war it calls the Seven Fronts War, with Hamas in Gaza, Lebanon and Iran, kept customers from visiting, and that antisemitism in Europe and Asia hurt its market access, so it moved its focus to the United States for the time being, expanding its sales team there and building products for that market. [48, 49, 50]

Its financing leans on debt turned into shares. Its senior lender is Fortress Investment Group: in January 2025 it swapped $4.4 million of Fortress debt for shares, and in August 2025 another $2.6 million. It also converted $6,109,750 of subordinated notes into shares during 2025. Its chairman and his spouse have lent it money interest-free at times since 2011, up to $2,662,470, secured by a floating charge on its assets; nothing was outstanding at the end of 2025. The filing states there is no substantial doubt about its ability to fund operations for at least 12 months. [51, 52, 53, 54, 55, 56]

What drives growth, line by line

Internet of Things. The largest line by far: 25.4 million dollars, 90.9% of revenue, up 0.3%, which the filing calls relatively stable. Its research spending rose 15% in 2025, mainly on new IoT products for the US market, which the company now treats as its key market for expansion. [34, 57, 58]

E Government. 1.7 million dollars, 6.1% of revenue, up 48.4%, which the filing credits to higher revenue from some of its multi-year government contracts. The year before, the line had shrunk when a manufacturing failure cut recurring revenue from some of those contracts. [34, 59, 60]

Cyber Security. The smallest line, 819.0 thousand dollars, 2.9% of revenue, down 31.6%. The filing puts the fall down to one of its largest customers postponing a renewal contract from 2025 to 2026. [34, 61]

Across the company, revenue rose 1% to 27.9 million dollars, and gross margin widened to 55.2% from 48.4%, which the filing credits to a change in the mix of revenue. Net income rose to 3.7 million dollars, which it credits to higher gross profit, financial income and a larger tax benefit, offset in part by higher other expenses, chiefly $1,853,000 of provisions for long-overdue receivables from African government customers. Cash used in operations grew to 5.5 million dollars. [62, 63, 64, 65, 66]

What comes next, in the company's own words: it plans to keep investing up to 15% of its revenue in research and development across its units, and its gross profit plan aims at 55%. [67, 68]

What the desk infers (inferred, not filed)

  • Customer C, which took about half of revenue in 2023 and 2024 before falling to 14% in 2025, was almost certainly a European customer, most likely a public agency running electronic monitoring, and its shrinking explains most of Europe's decline. Because: The notes list Customer C at 50% of revenue in 2023, 53% in 2024 and 14% in 2025. [32] In 2024 Europe brought in 18.2 million dollars of the 27.6 million total, and no other region reached even 7.1 million, so no other region was large enough to hold a customer taking more than half. [34, 63] The filing credited the IoT unit's growth in the year Customer C peaked to higher revenue in the European market. [69] European revenue fell 34.1% in 2025, to 12.0 million dollars. [34] Its IoT unit sells to public safety agencies and ministries of justice. [70] Confidence 70 of 100. Wrong if: A filing that places Customer C outside Europe, or shows that its 2025 decline fell on a region other than Europe.
  • Customer A, which rose from 2% to 25% of revenue in 2025 to become the largest customer, is most likely in Israel. Because: The notes show Customer A at 2% of revenue in 2024 and 25% in 2025. [32] Israel was the one region that jumped: to 7.9 million dollars, 28.3% of revenue, from 1.5 million, while the United States held flat at 7.0 million and Europe fell. [34] The filing says one large customer accounted for 25% of 2025 revenue. [31] Confidence 65 of 100. Wrong if: A filing placing Customer A outside Israel, for example as a US or European agency.
  • The label Internet of Things hides what the business mostly is: a supplier of electronic monitoring to justice and law-enforcement agencies, paid largely per person per day, rather than a broad maker of connected devices. Because: The Internet of Things line is 90.9% of revenue. [34] The products the filing describes for it are mostly offender bracelets, house arrest and GPS tracking systems, inmate monitoring and domestic violence protection. [20, 21, 22] Its public safety market is law enforcement agencies, community safety agencies and ministries of justice. [70] Monitoring customers pay a net rate per person per day or a fixed monthly rate, and its US subsidiary runs monitoring programs for government agencies. [27, 29] Confidence 75 of 100. Wrong if: A revenue breakdown showing that asset tracking, Wi-Fi networks or other uses outside justice agencies make up most of the IoT segment.

Sources

  1. SuperCom, Ltd., Form 20-F filed 2026-04-28: “Arie Trabelsi. Mr. Trabelsi joined us in November 2010 as President and Chief Executive Officer. He served as our Chief Executive Officer from November 1, 2010 until November 12, 2011 and from June 1, 2012 to February 21,2022, and served as Chairman of our board of directors from December 12, 2011 to December 27, 2012, has been serving as Chairman of our board of directors since February 24, 2019, and has been serving as our Acting Chief Financial Officer since and from February 24, 2019. He has more than 30 years of experience in the global wireless, Internet and communications industries.”
  2. SuperCom, Ltd., Form 20-F filed 2026-04-28: “Mr. Arie Trabelsi has served as the Chief Executive Officer of the Company since June 1, 2012 until February 21, 2022.”
  3. SuperCom, Ltd., Form 20-F filed 2026-04-28: “Ordan Trabelsi 41 President, Chief Executive Officer”
  4. SuperCom, Ltd., Form 20-F filed 2026-04-28: “Mr. Trabelsi has been serving as our President and Chief Operating Officer since February 21, 2022. Previously he led our business and operations in the Americas through his roles as President of SuperCom Inc. and Leaders in Community Alternatives, Inc. He has been with the Company since May 2013 as the second US employee and grew the business in the USA.”
  5. SuperCom, Ltd., Form 20-F filed 2026-04-28: “Mr. Trabelsi joined us in January 2013 as director of new products development, He served as our VP of IoT from 2016 until February 21, 2022, and as COO and CTO of SuperCom Inc. since July, 2023, and has been serving as our Chief Business and Technology Officer since March 2026.”
  6. SuperCom, Ltd., Form 20-F filed 2026-04-28: “Mr. Lester Villeneuve joined the SuperCom Group as the Executive Director for Leaders in Community Alternatives (LCA) in 2023.”
  7. SuperCom, Ltd., Form 20-F filed 2026-04-28: “Arie Trabelsi Director February 24, 2019 Annual general meeting Tal Naftali Shmuel Independent Director March 17, 2022 Annual general meeting Oren Raoul De Lange Independent Director March 28, 2021 March 28, 2029 Shoshana Cohen Shapira Independent Director February 24, 2019 February 23, 2028”
  8. SuperCom, Ltd., Form 20-F filed 2026-04-28: “Shoshana Cohen Shapira, is an Advocate, Notary and Mediator with extensive experience in providing legal representation and consulting services”
  9. SuperCom, Ltd., Form 20-F filed 2026-04-28: “Oren Raoul De Lange, is an Attorney, and a Certified Public Accountant, CPA in Israel”
  10. SuperCom, Ltd., Form 20-F filed 2026-04-28: “Tal Naftali Shmuel, is a Certified Public Accountant, CPA in Israel with more than 10 years of experience in GAAP, IFRS, Financial Statement auditing and taxes.”
  11. SuperCom, Ltd., Form 20-F filed 2026-04-28: “All executive officers and directors as a group (7 persons) 54,325”
  12. SuperCom, Ltd., Form 20-F filed 2026-04-28: “Represents beneficial ownership of less than one percent”
  13. SuperCom, Ltd., Form 20-F filed 2026-04-28: “Mas Alpha holds 302,196 shares of our ordinary shares, which reflects approximately 5.6% of our issued and outstanding ordinary shares”
  14. SuperCom, Ltd., Form 20-F filed 2026-04-28: “As of December 31, 2025, 2024 and 2023, we had 133, 124 and 121 full-time employees, respectively (not including service providers).”
  15. SuperCom, Ltd., Form 20-F filed 2026-04-28: “Research, Development & Operations 103 96 98 Marketing and Sales 16 15 8 Administration 14 13 15”
  16. SuperCom, Ltd., Form 20-F filed 2026-04-28: “Israel & Europe 59 51 53 United States 74 73 68”
  17. SuperCom, Ltd., Form 20-F filed 2026-04-28: “Our Israeli employees are not part of a collective bargaining agreement and none of them are represented by labor unions.”
  18. SuperCom, Ltd., Form 20-F filed 2026-04-28: “Some of our officers and employees are obligated to perform annual reserve duty.”
  19. SuperCom, Ltd., Form 20-F filed 2026-04-28: “Founded in 1988, we are a global provider of secured solutions for the e-Government, IoT, and Cybersecurity sectors, to governments and private and public organizations throughout the world.”
  20. SuperCom, Ltd., Form 20-F filed 2026-04-28: “PureOne is a single-piece electronic monitoring bracelet designed to; (i) support continuous location tracking of monitored individuals in both indoor and outdoor environments”
  21. SuperCom, Ltd., Form 20-F filed 2026-04-28: “Our house arrest system is based on our PureMonitor cloud-based software and includes the PureCom base station and the PureTag RF bracelet.”
  22. SuperCom, Ltd., Form 20-F filed 2026-04-28: “Our domestic violence victim protection system is based on our PureMonitor cloud-based software and the PureTrack smartphone device, the PureTag RF bracelet and the PureProtect smartphone app.”
  23. SuperCom, Ltd., Form 20-F filed 2026-04-28: “We offer an inmate monitoring system that manages the authorized movement of inmates throughout a corrections facility.”
  24. SuperCom, Ltd., Form 20-F filed 2026-04-28: “Most of our products are based on a common platform, which we refer to as MAGNA™, a complete end-to-end solution for such items as e-passports, national identity cards, voter identification cards and drivers’ licenses.”
  25. SuperCom, Ltd., Form 20-F filed 2026-04-28: “Alvarion designs solutions for carrier wi-fi, enterprise connectivity, smart city, smart hospitality, connected campuses and connected events”
  26. SuperCom, Ltd., Form 20-F filed 2026-04-28: “The Company and its subsidiaries generate their revenues from the sale of products, licensing, maintenance, royalties and long term contracts (including training and installation).”
  27. SuperCom, Ltd., Form 20-F filed 2026-04-28: “Our customers typically pay for these services based on a net rate per day per individual or on a fixed monthly rate.”
  28. SuperCom, Ltd., Form 20-F filed 2026-04-28: “Products $ 21,454 $ 21,523 $ 21,587 Services 6,442 6,112 4,983”
  29. SuperCom, Ltd., Form 20-F filed 2026-04-28: “LCA, incorporated in California, was acquired by us on January 1, 2016, and provides electronic monitoring and community-based services under contracts with various government agencies.”
  30. SuperCom, Ltd., Form 20-F filed 2026-04-28: “Through our daily reporting centers, we provide criminal justice programs and reentry services to help reduce recidivism”
  31. SuperCom, Ltd., Form 20-F filed 2026-04-28: “In the year ended December 31, 2025, 25% of our net revenue is attributable to sales to one large customer. In the year ended December 31, 2024, 53% of our net revenue is attributable to sales to one large customer. In the year ended December 31, 2023, 50% of our net revenue is attributable to sales to one large customer.”
  32. SuperCom, Ltd., Form 20-F filed 2026-04-28: “Major customer data as a percentage of total sales: Year ended December 31, 2025 2024 2023 Customer A 25 % 2 % - % Customer B 15 % 6 % 5 % Customer C 14 % 53 % 50”
  33. SuperCom, Ltd., Form 20-F filed 2026-04-28: “The typical sales cycle for our government customers has, to date, ranged from three to 24 months”
  34. The record on this page: revenue by line and by geography, as tagged in the annual report (the SEC's financial statement data sets)
  35. SuperCom, Ltd., Form 20-F filed 2026-04-28: “the dollar is our functional and reporting currency”
  36. SuperCom, Ltd., Form 20-F filed 2026-04-28: “We outsource the manufacturing of: (i) printed circuit boards, or PCBs, to a number of different suppliers both in Israel and the Far East, (ii) enclosures to suppliers in Israel and the Far East and (iii) Teslin paper (a synthetic material used in making ID cards), laminates, inlays, modules, cards, from suppliers from the Far East, Europe, the United States and Israel. The electronic assembly of our products is done in Israel, Europe, and the United States.”
  37. SuperCom, Ltd., Form 20-F filed 2026-04-28: “In some cases, we rely on a single source vendor or subcontractor.”
  38. SuperCom, Ltd., Form 20-F filed 2026-04-28: “We do not own any real estate. We lease approximately (i) 835 square meters of office premises in Tel Aviv, Israel”
  39. SuperCom, Ltd., Form 20-F filed 2026-04-28: “(ii) 530 square meters of office and warehousing premises in Netania, Israel, under a lease which started on August 28, 2025 and expires on August 27, 2028, for which the monthly fee is approximately $14,000; and (iii) 380 square meters of warehousing premises in Migdal HaEmek, Israel”
  40. SuperCom, Ltd., Form 20-F filed 2026-04-28: “SuperCom was incorporated in the State of Israel on July 4, 1988”
  41. SuperCom, Ltd., Form 20-F filed 2026-04-28: “From our incorporation in 1988 until 1999, we were a development-stage company primarily engaged in research and development”
  42. SuperCom, Ltd., Form 20-F filed 2026-04-28: “On January 24, 2013 we changed our name back to SuperCom Ltd., our original name, from Vuance Ltd.”
  43. SuperCom, Ltd., Form 20-F filed 2026-04-28: “On December 31, 2006, we sold the majority of the e-Gov Division activities and related intellectual property to OTI”
  44. SuperCom, Ltd., Form 20-F filed 2026-04-28: “Our product depth and global presence was expanded significantly with our acquisition of the SmartID division of OTI in December 2013, as well as our acquisitions of Prevision, Safend, LCA, PowaPOS business, and Alvarion between November 2015 and May 2016.”
  45. SuperCom, Ltd., Form 20-F filed 2026-04-28: “We believe that G4S, STOP, Omnilink, Sentinel, BI (GeoGroup), and Buddi are our potential competitors with respect to our IoT products and solutions. We believe that Face Technologies, Zetes Industries, Mühlbauer Group, Oberthur Technologies, Thales, Bundesdruckerei GmbH and Nadra are our potential competitors in the e-Gov products and solutions market. We believe that Intel Security, Symantec, Sophos, and Trend Micro are the primary competitors for our Cyber Security division.”
  46. SuperCom, Ltd., Form 20-F filed 2026-04-28: “Currently we own 50 issued patents in the United States and 72 issued patents in the rest of the world.”
  47. SuperCom, Ltd., Form 20-F filed 2026-04-28: “As part of the acquisition of the SmartID division, we also received an irrevocable, worldwide, non-exclusive, non-assignable and non-transferable license to use certain intellectual property from OTI in connection with our past, ongoing and future e-Gov projects.”
  48. SuperCom, Ltd., Form 20-F filed 2026-04-28: “During 2024 and 2025 and as of the date of this Annual Report, our Company’s business was affected by the Seven Fronts War of Israel with Hamas in Gaza, Lebanon and Iran.”
  49. SuperCom, Ltd., Form 20-F filed 2026-04-28: “Antisemitism and hatred in Europe and Asia have presented significant challenges for our Company, these phenomena had affected our market access, brand reputation, and operational security.”
  50. SuperCom, Ltd., Form 20-F filed 2026-04-28: “hence we had temporarily moved our business focus to the U.S. market by expanding our Sales and Marketing team in the U.S. and had developed products tailored for the US market.”
  51. SuperCom, Ltd., Form 20-F filed 2026-04-28: “In January 2025, the Company exchanged $4.4 million of senior debt held by Fortress Investment Group (“Fortress”), the Company’s senior Lender, into ordinary shares”
  52. SuperCom, Ltd., Form 20-F filed 2026-04-28: “In addition, in August, 2025 the Company exchanged $2.6 million of senior debt held by Fortress, to 225,000 ordinary shares of the Company.”
  53. SuperCom, Ltd., Form 20-F filed 2026-04-28: “During 2025, 2024 and 2023, the Company converted $6,109,750, $3,223,000 and $500,000, respectively, out of the remaining principal and accrued interest of subordinated notes into the Company’s ordinary shares.”
  54. SuperCom, Ltd., Form 20-F filed 2026-04-28: “On April 29, 2012, our Board of Directors approved the recording of a floating charge on our assets in favor of Mr. Arie Trabelsi and his spouse, unlimited in amount, in order to secure loans that are given by them from time to time to us.”
  55. SuperCom, Ltd., Form 20-F filed 2026-04-28: “The short terms loans provided by Mr. Arie Trabelsi and his spouse during the years from 2011 until 2025 ranged from $0 up to $2,662,470 and bore no interest. As of December 31,2025, total loans were $0.”
  56. SuperCom, Ltd., Form 20-F filed 2026-04-28: “there is no substantial doubt about the Company’s ability to fund its operations for a period of at least 12 months from the date of issuance of these financial statements.”
  57. SuperCom, Ltd., Form 20-F filed 2026-04-28: “(ii) revenue from the IoT segment was $25,365,000, compared to $25,283,000 in 2024, reflecting relatively stable revenue levels”
  58. SuperCom, Ltd., Form 20-F filed 2026-04-28: “Our research and development expenses increased to $3,934,000 for the fiscal year ended December 31, 2025, from $3,417,000 in 2024, an increase of 15%. This increase was primarily attributable to the development of new IoT products for the U.S. market, which has become a key target market for expansion under our business plan”
  59. SuperCom, Ltd., Form 20-F filed 2026-04-28: “(i) revenue from the e-Gov segment was $1,712,000, compared to $1,154,000 in 2024, an increase of 48%, reflecting higher revenue from certain of our multi-year government contracts”
  60. SuperCom, Ltd., Form 20-F filed 2026-04-28: “(i) the e-Gov segment revenue was $1,154,000 in comparison to $1,544,000 in 2023, a decrease of 25% which reflects decreased recurring revenue from some of our multiyear governments contracts due to manufacturing failure”
  61. SuperCom, Ltd., Form 20-F filed 2026-04-28: “(iii) revenue from the Cyber Security segment was $819,000, compared to $1,198,000 in 2024, a decrease of 32%, primarily attributable to the postponement from 2025 to 2026 of a renewal contract with one of our largest customers.”
  62. SuperCom, Ltd., Form 20-F filed 2026-04-28: “Our total revenues for 2025 were $27,896,000, compared to $27,635,000 in 2024, an increase of 1%.”
  63. The record on this page: the filed annual figures (EDGAR's company facts)
  64. SuperCom, Ltd., Form 20-F filed 2026-04-28: “The gross profit margin for 2025 was 55.2% compared to 48.4% in 2023. The increase in our gross profit margin is mainly attributed to a change in the mix of revenues.”
  65. SuperCom, Ltd., Form 20-F filed 2026-04-28: “The increase in net income was primarily attributable to (i) a $1,040,000 increase in financial income, (ii) a $2,009,000 increase in gross profit, and (iii) a $1,592,000 increase in income tax benefit, partially offset by (iv) a $671,000 increase in other expenses.”
  66. SuperCom, Ltd., Form 20-F filed 2026-04-28: “This increase was primarily attributable to a provision for doubtful accounts mainly related to long-overdue receivables from African government customers, which amounted to $1,853,000 in 2025, compared to $1,200,000 in 2024.”
  67. SuperCom, Ltd., Form 20-F filed 2026-04-28: “We anticipate that we will continue to invest up to 15% of our revenue in broadening our Cyber Security, e-Gov, IoT and Connectivity solutions and platforms.”
  68. SuperCom, Ltd., Form 20-F filed 2026-04-28: “For the fiscal year ended December 31, 2025, our costs were per our multi-year business plan, our gross profit is aiming at 55%”
  69. SuperCom, Ltd., Form 20-F filed 2026-04-28: “(ii) the IoT segment revenue was $25,283,000 in comparison to $23,766,000 in 2023, an increase of 6% which is attributed to an increase of revenue in the European market”
  70. SuperCom, Ltd., Form 20-F filed 2026-04-28: “Public safety, including law enforcement agencies, community, safety agencies and ministries of justice around the world, with our electronics monitoring, or EM, solutions”

Where the revenue comes from

Lines of business in fiscal 2025: Internet of Things 91%, E Government 6%, Cyber Security 3%. By geography: European countries 43%, Israel 28%, United States 25%, Africa 4%, APAC under 1%. As tagged in its annual report (Form 20-F, filed 2026-04-28).

Who runs it

Trabelsi, Ordan (President, CEO); Trabelsi, Arie (Acting Chief Financial Officer); Trabelsi, Barak (Chief Business & Tech Officer); De, Lange Oren Raoul (director); Shapira, Shoshana Cohen (director); Shmuel, Tal Naftali (director). 6 officers and directors have filed their own trades in the last fifteen months, names and titles as filed with the SEC, through 2026-09-30.

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