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SPCB Stock: SuperCom wins $3m in MRR for COVID-19 project with Israeli Government

Global provider of secured solutions SuperCom (SPCB) skyrocketed on news that it won a COVID-19 project with Israeli Government that will bring in $3M in monthly recurring revenue (MRR), said the company. The company operate solutions for the e-Government, IoT and Cybersecurity sectors.

The project comes with an initial 3 month term with extendibility of up to 36 months. The revenue for 3 months comes to approx. $9,000,000 while the revenue for 36 months comes to approx. $108,000,000.

The Government will be using SuperCom’s PureHealth Coronavirus Quarantine Compliance solution with PureCare and PureTag. This nationwide project is expected to commence next week, along with contract signing, for an initial term of 3 months, with an option to be extended for up to 36 months.

The project is billed at a per-unit per-day rate is expected to generate approximately $3 million per month in recurring revenues for SuperCom. However, revenue may increase or decrease based on actual usage.

SuperCom formerly completed a successful pilot program in which travelers arriving at Israel’s international airport were offered the opportunity to go on home quarantine for 10-14 days with SuperCom’s PureCare technology and program.

Following high demand – over 91% choosing to opt in for the program – and traveler reported satisfaction, the Israeli Ministry of Health expressed immediate demand for a bracelet-based COVID-19 quarantine solution to support permitting Israel’s international airports to open for large numbers of travelers to enter the country on a daily basis.

SuperCom won a government competitive bid process, after the passage of a new law by Israel’s Parliament which sets the guidelines and regulations around quarantine compliance with the help of stay-at-home compliance technology.