Company Overview - OMNIQ Corp provides computerized and machine vision image processing solutions using patented AI technology for real-time object identification, tracking, surveillance, and monitoring in Supply Chain Management, Public Safety, and Traffic Management applications [4] - The company's technology helps clients manage big data and move people and objects safely through airports, warehouses, schools, national borders, and other environments [4] - OMNIQ's diverse portfolio includes advanced AI algorithms for automated identification and management, enabling customers to streamline operations in logistics, manufacturing, and other industries [3] Financial Performance - Annual revenues have more than doubled since 2014, reaching $81 million in 2023 [1] - The company serves clients in more than 40 countries [1] Market Position - OMNIQ addresses several billion-dollar markets with double-digit growth, including the Global Smart City and Public Safety markets [1] - The company is recognized as a leader in AI-powered solutions for logistics, smart city applications, and public safety [6] Recent Developments - OMNIQ announced $1 million in new purchase orders from a long-term partner in the logistics and manufacturing sector [6] - The new orders include advanced hardware and service agreements designed to enhance operational efficiency [8] - Service agreements are expected to contribute recurring revenue, reinforcing the company's financial stability and long-term growth strategy [8] Strategic Partnerships - OMNIQ's customers include government agencies and leading Fortune 500 companies across various sectors such as manufacturing, retail, distribution, food and beverage, transportation and logistics, healthcare, and oil [8] - The company's proprietary AI-driven solutions enable seamless integration of hardware and software, improving operational efficiencies in logistics and manufacturing [8] - OMNIQ's advanced service agreements provide ongoing support and enhanced functionality, ensuring sustained performance and value for customers [8] Leadership Perspective - Shai Lustgarten, President and CEO of OMNIQ, expressed enthusiasm about the new orders, stating they represent a vote of confidence in the company's AI-powered solutions and commitment to operational excellence [3] - The CEO emphasized that deepening partnerships and continuous innovation further position OMNIQ as a leader in automation and efficiency within critical industries [3]

Core Insights - OMNIQ Corp. has received a significant purchase order from a leading retail company, highlighting its growing reputation in automation and supply chain technologies [1][3] - The agreement includes advanced IoT technology aimed at streamlining operations, reducing costs, and enhancing customer experiences for the retail partner [2] - The purchase order is a recurring order from a long-standing Fortune 500 customer, indicating strong client relationships and trust in OMNIQ's solutions [4] Company Overview - OMNIQ Corp. specializes in AI-based solutions and supply chain technologies, providing computerized and machine vision image processing solutions for various applications [5] - The company has seen its annual revenues more than double since 2014, reaching $81 million in 2023, with clients in over 40 countries [6] - OMNIQ serves multiple sectors, including manufacturing, retail, distribution, healthcare, and public safety, addressing several billion-dollar markets with double-digit growth potential [6]

Core Insights - omniQ Corporation reported third quarter 2024 revenue of $18.5 million, reflecting a year-over-year growth of 7.57% from $17.2 million in Q3 2023 [1][2][3] - The company achieved a significant reduction in operating expenses, which decreased by 25.58% to $4.9 million in Q3 2024 from $6.6 million in Q3 2023 [2][4] - omniQ's net loss for Q3 2024 was $1.6 million, a substantial improvement of 62.86% compared to a net loss of $4.3 million in Q3 2023 [2][5] Financial Performance - Revenue for Q3 2024 was $18,549,000, up from $17,244,000 in Q3 2023, marking a 7.57% increase [2] - Operating expenses decreased to $4,934,000 in Q3 2024 from $6,631,000 in Q3 2023, indicating effective cost management [2][4] - The net loss was reduced to $1,599,000 in Q3 2024 from $4,305,000 in Q3 2023, showing a significant improvement in financial performance [2][5] Operational Highlights - omniQ generated a modest net cash of $230,000 in the nine months ending September 2024, an improvement from a net use of $2,651,000 in the same period of 2023 [5] - Gross profit slightly decreased to $3,950,000 in Q3 2024 from $4,009,000 in Q3 2023, reflecting a 1.45% reduction [5] - Basic loss per share improved to -$0.15 in Q3 2024 from -$0.55 in Q3 2023, indicating better earnings performance [5] Strategic Developments - omniQ is enhancing its visibility by uplisting to the OTCQB Market and has formed strategic alliances with Ingenico and SHVA to bolster its fintech capabilities [6][7] - The company has received significant new purchase orders totaling $2.5 million, $1 million, $1.4 million, and $3.4 million, indicating strong demand for its products [6] - A cooperation agreement with NEC is expected to broaden technology integration capabilities and lead to new projects [6][8] Market Positioning - omniQ is focusing on expanding its presence in high-growth sectors such as fintech, public safety, and healthcare, leveraging partnerships to enhance brand recognition and secure new contracts [12][13] - The company aims to strengthen its recurring revenue streams by refining its business model to emphasize high-margin SaaS and service offerings [10][11] - omniQ's technology solutions are positioned to address several billion-dollar markets with double-digit growth potential, particularly in smart city and public safety sectors [15]

Company Overview - OMNIQ Corp. specializes in automation solutions, including machine vision AI and IoT-based technologies [2] - The company offers services such as advanced data collection systems, real-time surveillance, and monitoring capabilities across various sectors [2] - OMNIQ serves a diverse client base, including government agencies and Fortune 500 companies in industries like manufacturing, retail, healthcare, and logistics [2] Market Potential - The Global Safe City sector is projected to reach $67.1 billion by 2028 [2] - The smart parking industry is expected to grow to $16.4 billion by 2030 [2] - The fast-casual restaurant market is anticipated to hit $209 billion by 2027 [2] Upcoming Events - OMNIQ will release its Third Quarter 2024 Earnings on November 14, 2024, after market close [1] - A live earnings call with management is scheduled for November 15, 2024, at 11:00 AM EST [1]

SALT LAKE CITY, Nov. 11, 2024 (GLOBE NEWSWIRE) -- OMNIQ Corp. (OTCQB: OMQS), a leader in automation-enhancing IoT and machine vision solutions, is pleased to announce a recent series of purchase orders totaling $3.4 million from a longstanding retail client. These recent orders, underscore the strength of the decade-long collaboration between OMNIQ and the retail chain, reinforcing both companies' commitment to innovation in operational efficiency. Over the years, OMNIQ has been integral to transforming the ...

Continues its two-decade partnership with a major 3PL provider. Expanded deployment of IoT devices and Subscription Services. Reinforces omniQ's position as a reliable AI-driven solutions provider for mission-critical logistics operations. This order follows a $1 million Purchase order in September and a $2.5 million order the previous month from other long-term customers. SALT LAKE CITY, Oct. 30, 2024 (GLOBE NEWSWIRE) -- (OTC: OMQS), a premier provider of AI-driven supply chain and smart city solutions, ha ...

Company Overview - OMNIQ Corp. is a provider of AI-based solutions and advanced machine vision systems, focusing on real-time object identification, tracking, surveillance, and monitoring across various applications [3] - The company serves government agencies and Fortune 500 companies in sectors such as manufacturing, retail, healthcare, and transportation, with annual revenues exceeding $81 million in 2023, having more than doubled since 2014 [3] Market Position and Growth - OMNIQ operates in several billion-dollar markets with double-digit growth, particularly in the Global Smart City and Public Safety markets [4] - The company emphasizes its scalable machine vision solutions and diversified revenue streams, aiming for increasingly recurring revenue [2] Upcoming Events - OMNIQ will participate in the ThinkEquity Investors Conference on October 30, 2024, in New York, where the CEO will present the company's latest innovations and strategic developments [1][2] - The conference is designed for corporate executives, institutional investors, and financial professionals to explore market opportunities and connect with industry leaders [1]

Company Overview - OMNIQ Corp. is a leader in AI-machine vision and automation technology, providing solutions for real-time object identification, tracking, surveillance, and monitoring across various applications [3][4] - The company serves government agencies and Fortune 500 companies in sectors such as manufacturing, retail, healthcare, and logistics, with annual revenues exceeding $81 million in 2023, more than doubling since 2014 [4] Recent Developments - OMNIQ announced a collaboration with NEC to enhance public safety and received recent purchase orders totaling $3.5 million [2][4] - The company has formed a strategic alliance with Ingenico to improve its fintech capabilities [2] Upcoming Events - CEO Shai Lustgarten will present at the Small Cap Virtual Investor Conference on October 10, 2024, at 11:00 AM ET, with opportunities for real-time investor engagement [1][2]

Continues Strategic Collaboration with a Major Retail Partner Order Includes State-of-the-Art Portable IoT Printers for Seamless Integration Paves the Way for Future Technological Upgrades SALT LAKE CITY, Aug. 29, 2024 (GLOBE NEWSWIRE) -- OMNIQ Corp. (OTCQB: OMQS), a prominent provider of AI-driven and IoT-enabled technology solutions, is pleased to announce the receipt of a significant $2.5 million purchase order from one of its most valued retail partners. This order, received on August 26, 2024, is a tes ...

Significant Milestone: This partnership marks a crucial development in OMNIQ's strategic expansion within the fintech industry. Enhancing Fintech Solutions: SHVA processes millions of transactions monthly, playing a key role in Israel's financial sector. Collaborating with OMNIQ will further enhance fintech solutions across the region. Alignment with Strategic Goals: The collaboration aligns with OMNIQ's strategic plans to expand fintech capabilities and improve customer experiences through innovative techn ...