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OMNIQ Corp, symbol OMQS, was founded in 1994 in Portland, Oregon. It has become a leading provider in the mobile computing industry nationwide, offering top-notch software and integration solutions. Supply chain companies rely on OMNIQ solutions to streamline operations, reduce inventory, optimize labor, and empower mobile workers with real-time information. With a focus on manufacturing, distribution, retail, logistics, and healthcare, OMNIQ provides cutting-edge technologies and industry-specific software solutions such as barcode, RFID, wireless, mobile computing, and more. Their application software covers sales automation, field service, warehouse management, and inventory, tailored to clients' needs using SAP, Oracle, or Microsoft systems.
OMNIQ reports Q3 2024 financial results with revenue of $18.5 million, representing a 7.57% year-over-year growth. Operating expenses decreased significantly by 25.58% to $4.9 million, while net loss improved by 62.86% to $1.6 million compared to Q3 2023. The company secured multiple purchase orders totaling $8.3 million and formed strategic alliances with Ingenico, SHVA, and NEC. Notable developments include uplisting to OTCQB Market and deployments in two major medical centers. The company focuses on expanding recurring revenue through SaaS and service offerings, particularly in fintech, public safety, and IoT solutions.
OMNIQ Corp (OTC: OMQS), a provider of automation solutions including machine vision AI and IoT-based solutions, announced it will release its Third Quarter 2024 earnings report after market close on Thursday, November 14th, 2024. The company will host a live earnings call with management on Friday, November 15th, 2024, at 11:00 AM EST. Participants can join via phone or computer webcast, with replay options available.
OMNIQ Corp (OTCQB: OMQS) has secured $3.4 million in new purchase orders from a major retail customer. The orders include advanced portable printers and tablets designed to optimize in-store operations, enhance inventory accuracy, and improve customer experience. The deployment will replace legacy systems across the retailer's network, building upon a decade-long partnership between the companies. This development aligns with OMNIQ's strategy of expanding relationships with existing clients while pursuing new industry partnerships.
OMNIQ has secured a $1.4 million contract renewal with a major transportation and logistics company, extending their two-decade partnership. The agreement includes supplying advanced Android-based rugged IoT devices, software subscriptions, and maintenance services nationwide. The client, a Fortune 500 company with $11 billion in annual revenue and over 15,000 employees, relies on OMNIQ's technology for optimizing operations during peak seasons. This renewal follows recent orders of $1 million in September and $2.5 million from other long-term customers.
OMNIQ Corp (OTC: OMQS) announces its participation in the upcoming ThinkEquity Investors Conference on October 30th, 2024, in New York. CEO Shai Lustgarten will present the company's latest innovations and strategic developments in AI-based solutions and machine vision systems.
The conference provides a platform for investors, industry experts, and companies to discuss market trends and opportunities. Attendees can register through the ThinkEquity conference website, and a webcast will be available on OMNIQ's Investor Relations section for those unable to attend in person.
The presentation will highlight OMNIQ's growth position through scalable machine vision solutions, market presence, and focus on recurring revenue streams. The company will also discuss recent strategic cooperation milestones and market expansion efforts.
OMNIQ Corp. (OTCQB: OMQS) announces its ongoing collaboration with NEC to enhance public safety and security solutions. This partnership combines OMNIQ's AI-driven face capture and vehicle recognition technologies with NEC's advanced facial recognition and database capabilities. The collaboration aims to address key challenges in law enforcement, transportation, military, and urban infrastructure sectors.
The announcement follows the completion of a vital homeland security project and recent successful deployments of AI-based access control systems in Ohio and Texas. OMNIQ's CEO, Shai Lustgarten, emphasizes the synergy between their proprietary AI systems and NEC's innovations in advancing critical infrastructure protection. John Whiteman, OMNIQ's Executive Director of Sales, highlights the comprehensive solution their combined technologies offer for modern security challenges.
The partnership focuses on creating access control for secure sites using facial recognition biometrics while providing real-time analytics, enhanced situational awareness, and proactive threat detection. Both companies are committed to developing more robust, scalable solutions for cities and public institutions, positioning themselves at the forefront of shaping the future of public safety.
OMNIQ Corp. (OTCQB: OMQS) has secured over $1 million in new purchase orders from a long-term bioscience customer, marking a 20-year partnership milestone. This follows a recent $2.5 million order from a major retail chain. The new orders include advanced scanning technology to replace legacy equipment and support the customer's growth. OMNIQ's CEO, Shai Lustgarten, emphasized the company's commitment to delivering state-of-the-art technologies for the bioscience industry.
This announcement builds on OMNIQ's recent strategic collaborations with Ingenico and SHVA, enhancing its global footprint. The company's AI-driven solutions are designed to optimize operational processes across various industries, including healthcare, logistics, and bioscience, providing enhanced data capture capabilities, greater accuracy, and increased processing speeds.
OMNIQ Corp. (OTCQB: OMQS) has received a $2.5 million purchase order from a long-standing retail partner, reinforcing their decade-long collaboration. The order, placed on August 26, 2024, includes state-of-the-art portable IoT printers designed to enhance in-store operations and delivery logistics across the retailer's network.
This significant order aims to replace outdated systems, improving inventory management, operational efficiency, and customer satisfaction. OMNIQ's CEO, Shai Lustgarten, emphasized the company's commitment to supporting the evolving needs of their valued partner. This development aligns with OMNIQ's strategic initiative to expand business with existing customers while also pursuing new relationships in the retail sector.
OMNIQ Corp. (OTCQB: OMQS) has announced a collaboration agreement with SHVA (Automated Banking Services ), Israel's leading payment processing company. This partnership marks a significant milestone in OMNIQ's strategic expansion within the fintech industry. SHVA processes millions of transactions monthly, playing a key role in Israel's financial sector.
The collaboration is expected to introduce cutting-edge payment solutions, benefiting businesses and consumers by streamlining transaction processes and enhancing security and efficiency. This agreement follows OMNIQ's successful EMV certification, enabling it to process both domestic and international credit card transactions with enhanced capabilities.
OMNIQ anticipates that this partnership will not only enhance its product offerings but also strengthen its market presence in the rapidly evolving global fintech landscape.
OMNIQ Corp (OTCQB: OMQS) reported Q2 2024 revenues of $19.1 million, a 4% increase from Q1. Key improvements include:
- Gross margin rose to 26% in Q2 2024 vs 19% in Q2 2023
- Gross profit increased by 26% or $1M compared to Q2 2023
- SGA expenses decreased by $290,000 compared to Q2 2023
- Total operating expenses down by $586,000 compared to Q1 2023
- Cash and cash equivalents increased by 56% to $1.4 million
OMNIQ has upgraded its AI engine for new use cases, expanded into security operations, and maintained a strong IoT business. The company uplisted to OTCQB and partnered with Ingenico for payment solutions. Management focuses on regaining profitability through cost reduction and strategic growth initiatives.
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