SuperCom Ltd
SPCB · Semiconductors & Related Devices · EDGAR filings ↗
Grade
C52Micro-cap ID/IoT vendor with an operating loss and cash burn; net income one-off-flattered.
Strengths
- Cash-rich — current ratio 7.96 (88th)
- High reported gross margin — 55.2%
Risks
- Operating loss and cash burn — operating margin -1.2%, FCF -$6.4M, OCF margin -19.7%
- Net income one-off-flattered — net margin 13.4% vs operating loss
- Small scale and lumpy contracts — per 10-K
Notable findings
- Cash burnNegative free cash flow (-6.4M)
- Customer concentration~53% of revenue from one customer/distributor — In the year ended December 31, 2024, 53% of our net revenue is attributable to sales to one large customer
Key metrics
Gross margin
55.2%
Operating margin
-1.2%
Net margin
13.4%
Return on equity
8.6%
Return on assets
5.5%
ROIC
-0.4%
Revenue growth (QoQ)
0.9%
Net-income growth
467.0%
Debt / equity
0.4×
Net debt / EBITDA
1.9×
Current ratio
8.0×
Free cash flow
-$6M
EBITDA
$4M
Tangible book value
$31M
Cash & investments
$12M
Cash runway
8q
Stock comp / revenue
3.1%
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-04-28 | 2025-12-31 | 0001178913-26-002268 ↗ |
| 20-F | 2025-04-28 | 2024-12-31 | 0001178913-25-001468 ↗ |
| 20-F | 2024-04-22 | 2023-12-31 | 0001178913-24-001418 ↗ |
| 20-F | 2023-04-20 | 2022-12-31 | 0001178913-23-001460 ↗ |
| 20-F | 2022-04-04 | 2021-12-31 | 0001178913-22-001393 ↗ |
| 20-F | 2021-04-30 | 2020-12-31 | 0001178913-21-001531 ↗ |
| 20-F | 2020-11-27 | 2019-12-31 | 0001178913-20-003273 ↗ |
| 20-F | 2019-12-04 | 2018-12-31 | 0001104659-19-069604 ↗ |
| 20-F | 2018-05-21 | 2017-12-31 | 0001144204-18-029944 ↗ |
| 20-F | 2017-05-24 | 2016-12-31 | 0001144204-17-029179 ↗ |
| 20-F | 2016-05-16 | 2015-12-31 | 0001144204-16-102725 ↗ |
| 20-F | 2015-04-13 | 2014-12-31 | 0001144204-15-022483 ↗ |