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 ...

Core Insights - omniQ has secured a $1.4 million contract renewal with a leading transportation and logistics company, highlighting its long-term partnership and trust built over nearly 20 years [2][3] - The renewed agreement includes the supply of advanced Android-based rugged IoT devices, software subscriptions, and maintenance services, aimed at enhancing operational efficiency during peak demand periods [3][4] - omniQ's recent achievements include deploying smart kiosks for a major fast-food chain and being recognized as a top provider of smart city solutions in 2024, reflecting its growth strategy and commitment to innovation [4][5] Company Overview - omniQ Corp. specializes in AI-driven supply chain and smart city solutions, utilizing patented technology for real-time object identification and monitoring across various applications [5][6] - The company has experienced significant growth, with annual revenues more than doubling since 2014, reaching $81 million in 2023, and serves clients in over 40 countries [6] - omniQ's customer base includes government agencies and Fortune 500 companies across multiple sectors, indicating a diverse market presence and robust demand for its solutions [6]

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]

Core Insights - OMNIQ Corp. has received a significant purchase order worth $2.5 million from a major retail partner, marking a continuation of their long-standing collaboration that has lasted over a decade [1][2][3] Company Overview - OMNIQ Corp. specializes in AI-driven and IoT-enabled technology solutions, providing services such as real-time object identification, tracking, and monitoring for various applications including Supply Chain Management and Public Safety [4] - The company has seen its annual revenues more than double since 2014, reaching $81 million in 2023, and serves clients in over forty countries [5] Strategic Developments - The latest order includes advanced portable printers aimed at enhancing in-store operations and delivery logistics, replacing outdated systems to improve inventory management and operational efficiency [2][3] - The ongoing partnership reflects the trust the retail partner has in OMNIQ's technology, emphasizing the company's commitment to supporting evolving customer needs [3]

Core Insights - The partnership between OMNIQ and SHVA represents a significant milestone in OMNIQ's strategic expansion within the fintech industry [2][4] - The collaboration aims to enhance fintech solutions in Israel, leveraging SHVA's extensive transaction processing capabilities [3][5] - This agreement aligns with OMNIQ's strategic goals to improve customer experiences through innovative technology [4][5] Company Overview - OMNIQ Corp. is a global leader in AI-based solutions and supply chain management, focusing on advanced technologies for various sectors [7][8] - The company serves a diverse clientele, including government agencies and Fortune 500 companies, enhancing operational capabilities across multiple industries [8] Market Position and Growth Potential - OMNIQ is strategically positioned in rapidly growing markets, including the fintech market projected to reach $1,152 billion by 2032 [9] - The collaboration with SHVA is expected to strengthen OMNIQ's market presence in the evolving global fintech landscape [5][9] - OMNIQ has achieved EMV certification, enabling it to process both domestic and international credit card transactions [6]

Core Insights - omniQ Corporation reported revenues of approximately $19.1 million in Q2 2024, showing a sequential improvement from the previous quarter [1][3] - The company has implemented a cost reduction plan, resulting in significant decreases in operating expenses and improvements in gross margins compared to the same period in 2023 [2][4][5] Financial Highlights - Gross margin for Q2 2024 increased to 26% from 19% in Q2 2023, and for the six months ended June 30, 2024, it rose to 27% from 20% in the same period of 2023 [2] - Gross profit for Q2 2024 increased by 26% or $1 million compared to Q2 2023, while for the six months ended June 30, 2024, it increased by 4% or $332 thousand [2] - Selling, general and administrative (SGA) expenses decreased by approximately $290 thousand in Q2 2024 and by $1.5 million for the six months ended June 30, 2024, compared to the same period in 2023 [2][4] - Total operating expenses for Q2 2024 were $5 million, a reduction of $540 thousand or approximately 10% from Q1 2024 [3] Sequential Improvements - Q2 2024 revenue of $19.1 million represents a $740 thousand or approximately 4% increase from Q1 2024 [3] - Cash and cash equivalents increased to $1.4 million in Q2 2024 from $881 thousand in Q1 2024, marking an increase of $492 thousand or approximately 56% [3] Technology Development - omniQ has been reinvesting in technology and forming strategic partnerships to enhance customer value and expand market share [8] - The company upgraded its AI engine to support new use cases, such as restricted area access, which can improve customer satisfaction and generate additional revenue [9] Strategic Business Moves - omniQ's stock began trading on OTCQB on August 1, 2024, indicating improved financial stability and adherence to corporate governance standards [11] - The company has entered into a strategic alliance with Ingenico to enhance payment solutions across various industries [12] Market Position - omniQ serves government agencies and Fortune 500 companies across multiple sectors, with annual revenues exceeding $81 million in 2023 [16] - The company operates in several billion-dollar markets with double-digit growth potential, including the Global Smart City and Public Safety markets [16]

Core Insights - OMNIQ Corp. has entered a non-exclusive agreement with Ingenico to enhance its fintech position by combining its AI-based image processing technologies with Ingenico's payment solutions [2][3][4] - This strategic alliance aims to streamline payment processes across various industries, leveraging OMNIQ's innovative technology and Ingenico's global payment expertise [3][4] - The collaboration is expected to improve customer experiences and set new standards in fintech innovation and operational efficiency [4][5] Company Overview - OMNIQ Corp. specializes in AI-driven image processing technologies and supply chain management solutions, serving sectors such as manufacturing, retail, healthcare, and more [2][7][8] - The company has a diverse client base, including government agencies and Fortune 500 corporations, enhancing operational effectiveness through advanced solutions [8] - OMNIQ is positioned in rapidly expanding markets, including the Global Safe City sector projected to reach $67.1 billion by 2028 and the smart parking industry expected to grow to $16.4 billion by 2030 [9] Ingenico Overview - Ingenico is a global leader in payment acceptance solutions, providing technology for merchants, banks, and fintech customers [6] - With 45 years of experience, Ingenico focuses on innovation, trust, and sustainability in its approach to payment solutions [6]