$SPCB
SuperCom Ltd
CIK:0001291855|SEC Filings
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| CASH FLOWS - OPERATING ACTIVITIES | |||
| Net income (loss) | $ 3,748 | $ 661 | $ (4,022) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Accrued interest on loans | 2,315 | 1,485 | 2,148 |
| Loan forgiveness gain | (4,381) | (2,312) | 0 |
| Depreciation and amortization | 3,826 | 3,386 | 2,980 |
| Stock-based compensation to employees | 854 | 402 | 243 |
| Stock-based compensation issued pursuant to settlement agreements | 0 | 403 | 0 |
| Decrease in deferred tax | (2,010) | (418) | 0 |
| Change in Fair value of derivatives & warrants liability | 699 | (798) | (2,313) |
| Credit Losses | 1,853 | 1,540 | 1,457 |
| Inventory write-downs | 334 | 130 | 180 |
| Decrease in accounts receivables, net | (11,432) | (3,064) | (4,135) |
| Decrease (increase) in other current assets | (1,666) | (597) | 670 |
| Decrease (increase) in inventories, net | (22) | (148) | 728 |
| Increase (decrease) in accounts payables | 273 | (1,005) | 616 |
| Increase (decrease) in employees and payroll accruals | 467 | 150 | (325) |
| Increase (decrease) in accrued severance pay | 0 | 0 | (41) |
| Lease liabilities | (606) | (671) | (604) |
| Increase (decrease) in accrued expenses and other liabilities, related parties & deferred revenues | 258 | (438) | 51 |
| Net cash used in operating activities | (5,490) | (1,294) | (2,367) |
| CASH FLOWS - INVESTING ACTIVITIES | |||
| Purchase of property and equipment | (880) | (1,598) | (1,714) |
| Capitalization of software development costs | (2,196) | (1,751) | (1,652) |
| Investment in bank deposits | 2,366 | 0 | 0 |
| Net cash used in investing activities | (5,442) | (3,349) | (3,366) |
| CASH FLOWS - FINANCING ACTIVITIES | |||
| Related parties | 0 | (100) | (68) |
| Proceeds from loans and credit | 671 | 0 | 0 |
| Proceeds from exercise of options and warrants, net | 11,059 | 0 | 1,819 |
| Proceed from Shares and warrants issuance, net | 5,550 | 2,704 | 5,054 |
| Net cash provided by financing activities | 17,280 | 2,604 | 6,805 |
| Increase (decrease) in cash, cash equivalents, and restricted cash | 6,348 | (2,039) | 1,072 |
| Cash, cash equivalents, and restricted cash - beginning of year | 3,538 | 5,577 | 4,505 |
| Cash, cash equivalents, and restricted cash - end of year | 9,886 | 3,538 | 5,577 |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | |||
| Cash paid for taxes | 0 | 0 | 0 |
| Cash paid for interest, net | 0 | 0 | 0 |
| NON-CASH TRANSACTIONS: | |||
| Conversion of loans and warrant into ordinary shares | $ 14,847 | $ 3,747 | $ 2,251 |
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| CURRENT ASSETS | ||
| Cash and cash equivalents | $ 9,829 | $ 3,150 |
| Bank Deposit | 2,366 | 0 |
| Restricted bank deposit | 57 | 388 |
| Accounts receivable, net of allowance for doubtful accounts of $8,661 and $6,543 as of December 31, 2025 and 2024, respectively | 15,045 | 12,767 |
| Other current assets | 2,566 | 2,061 |
| Inventories, net | 2,209 | 2,521 |
| Patents held for sale | 5,283 | 5,283 |
| TOTAL CURRENT ASSETS | 37,355 | 26,170 |
| LONG-TERM ASSETS | ||
| Long term trade receivables net of credit losses allowance of $6,816 and 7,188 | 9,614 | 2,213 |
| Property and equipment, net | 3,023 | 3,261 |
| Intangible assets, net | 5,791 | 5,638 |
| Goodwill | 7,026 | 7,026 |
| Other long-term assets | 5,570 | 1,616 |
| TOTAL LONG-TERM ASSETS | 31,024 | 19,754 |
| TOTAL ASSETS | 68,379 | 45,924 |
| CURRENT LIABILITIES | ||
| Accounts payable | 1,151 | 878 |
| Employees and payroll accruals | 1,632 | 1,165 |
| Related parties | 0 | 0 |
| Short- term loans | 359 | 423 |
| Accrued expenses and other liabilities | 345 | 470 |
| Short- term operating lease liabilities | 425 | 445 |
| Deferred revenues | 778 | 366 |
| TOTAL CURRENT LIABILITIES | 4,690 | 3,747 |
| LONG-TERM LIABILITIES | ||
| Long-term loans | 18,713 | 29,748 |
| Long- term operating lease liabilities | 1,082 | 118 |
| Other long-term liabilities | 382 | 614 |
| TOTAL LONG TERM LIABILITIES | 20,177 | 30,480 |
| TOTAL LIABILITIES | 24,867 | 34,227 |
| Commitments and contingent liabilities | ||
| SHAREHOLDERS' EQUITY | ||
| Ordinary shares, NIS 50 par value - authorized 5,000,000 shares, 5,369,367 and 2,172,855 shares issued and outstanding on December 31, 2025 and 2024, respectively | 74,823 | 29,238 |
| Additional paid-in capital | 71,228 | 88,746 |
| Accumulated deficit | (102,539) | (106,287) |
| Total shareholders' equity | 43,512 | 11,697 |
| Total liabilities and shareholders' equity | $ 68,379 | $ 45,924 |