OMNIQ CORP - OMQS STOCK NEWS

OMNIQ Corp. (NASDAQ:OMQS) has received an initial order from a major retailer to deploy up to 5,000 units of its Machine Vision solution across North America. This technology will enhance vehicle identification, customer service efficiency, and product recommendations based on vehicle specifications. The order follows recent significant contracts, including a $29 million project with a Fortune 100 firm, an $11 million government project in Israel, and a $4.1 million supply chain order, resulting in a record backlog.

OMNIQ Corp. (NASDAQ: OMQS) has secured a $4.1 million purchase order from a Fortune 50 company to enhance automation in logistics centers. This project is part of a broader trend, following a recent $29 million project award and an $11 million contract from the Government of Israel, contributing to a record backlog of orders. The technology aims to modernize supply chain operations using AI-driven solutions. CEO Shai Lustgarten emphasized the company's strong customer base and growing interest in their AI-based systems for various applications.

OMNIQ Corp. (NASDAQ: OMQS) reported a successful deployment of its Q Shield system that assisted in locating an elderly man suffering from cognitive memory impairment in Savannah, Georgia. The system helped authorities track the vehicle, leading to a safe return within three hours, highlighting its effectiveness. Over 17,000 OMNIQ AI sensors are installed worldwide, with approximately 7,000 in the U.S. The Q Shield system has also significantly reduced fuel theft incidents, according to law enforcement. CEO Shai Lustgarten expressed optimism about expanding the technology's market reach.

OMNIQ Corp. (NASDAQ: OMQS) announced the deployment of its Q Shield vehicle recognition technology in East Dublin, enhancing public safety through real-time monitoring of vehicles with outstanding violations.

Q Shield integrates AI vehicle recognition with a citation management platform, allowing for efficient law enforcement support. The system is already operational in several cities, leveraging a revenue-sharing model to make it accessible. The company's technology has over 17,000 sensors deployed worldwide, with a growing demand for Q Shield solutions measured by expanding contracts with municipalities.

OMNIQ Corp. (NASDAQ: OMQS) has secured a significant $29 million purchase order from a Fortune 100 company, which will modernize their IoT technology from Windows to an Android platform for improved store management. This follows an $11 million project for the Government of Israel, bringing the total to $40 million in new projects recently. The project is expected to take 12 to 18 months to deploy, enhancing inventory management and integrating contactless operations within the client’s stores.

OMNIQ Corp (NASDAQ: OMQS) announced a significant contract worth approximately $11 million through its subsidiary, Dangot Computers Ltd, with the Government of Israel. The supply agreement includes IoT equipment, consumables, and technical services over five years, with about 50% of projected revenue being recurring. This contract positions OMNIQ as a trusted supplier in a sophisticated market, highlighting its growth potential in various sectors including security and healthcare. The company maintains a strong customer base, which underlines its commitment to innovative solutions.

OMNIQ Corp. (NASDAQ: OMQS) reported a strong Q1 2022, with revenue increasing by 33% to $26.3 million compared to Q1 2021. Gross profit surged by 132%, achieving a gross margin of 23.3%. The trailing six months revenue exceeded $51 million, suggesting an annual run rate of over $100 million. Despite these gains, the company recorded a net loss of $2.6 million. OMNIQ's acquisition of Dangot Computers is expected to bolster its AI solutions in the U.S. market, with positive momentum in public safety applications.

OMNIQ Corp (NASDAQ: OMQS) announced a $4 million project with a leading global transport and logistics (T&L) firm, set for delivery in Q2 and Q3 of 2022. The initial delivery will be $1.2 million, with the remaining $2.8 million to follow. The agreement involves supplying rugged Android-based data collection and communication equipment across the United States. The T&L customer has annual revenues exceeding $10 billion and employs over 10,000. OMNIQ's revenue has surpassed $50 million since 2014, indicating significant growth in various billion-dollar markets.

OMNIQ Corp (NASDAQ:OMQS), a leader in AI-based supply chain solutions, will present at the Spring Into Action – Best Ideas Virtual Investor Conference from May 17-20, 2022. CEO Shai Lustgarten is set to deliver the presentation on May 17 at 10am MT, with opportunities for one-on-one meetings available throughout the event.

The conference showcases 36 top companies, each recommended by institutional investors. OMNIQ has reported over $50 million in annual revenues since 2014 and serves a variety of sectors including government, healthcare, and logistics.