OMNIQ CORP - OMQS STOCK NEWS

OMNIQ Corp. (NASDAQ:OMQS) has enhanced the rideshare experience at Philadelphia International Airport (PHL) amid construction-induced congestion by implementing AI technology for Parkway Corp. This solution provides a seamless, near-zero-wait pickup process by matching drivers with passengers through real-time license plate recognition.

The omniQ vehicle recognition system is already utilized in over 40 major U.S. airports, showcasing the company’s commitment to innovation and environmental sustainability. Recognition from Uber highlights the positive impact of omniQ's systems on customer experience and operational efficiency.

OMNIQ Corp. (NASDAQ:OMQS) has secured a follow-on contract to deploy its AI-based Machine Vision solution in a district of Uruguay, enhancing the Safe District project. This initiative spans six municipal authorities, including a tourist destination, and builds on a successful four-year collaboration. OMNIQ's advanced Vehicle Recognition System provides real-time data for law enforcement, improving public safety. The company aims to replicate this success in other markets as public safety demands increase.

OMNIQ Corp. (NASDAQ: OMQS) announced that its Q Shield™ AI-based vehicle recognition system has effectively assisted law enforcement in solving over 20 theft crimes and a missing person's case within just 45 days of operation. Deployed in several municipalities, including Adrian, Georgia, Q Shield™ enhances safety and law enforcement efficiency through its patented algorithms. The system's unique revenue model minimizes upfront costs for cities, allowing for broader deployment. OMNIQ's CEO expressed optimism for further installations, highlighting the system's significant benefits for public safety.

OMNIQ Corp. (NASDAQ: OMQS) has secured an $8.5 million lending facility from Bridge Bank, marking a significant advancement in financial strategy. This new credit line offers a 40% increase in borrowing capacity and features substantially lower interest rates, improving cash flow and reducing expenses. The deal reflects strong investor confidence with no equity dilution involved. CEO Shai Lustgarten highlights this as a crucial step for OMNIQ’s growth. The company specializes in AI-based solutions and serves various sectors, including government and Fortune 500 companies.

OMNIQ Corp. (NASDAQ:OMQS) has completed its acquisition of Dangot Computers, increasing its ownership to 100% as of April 1, 2022. This strategic move, involving a total payment of $3.5 million, is expected to enhance OMNIQ's presence in automation across various sectors. Dangot, with 2021 revenues of approximately $40 million and a net profit of $2 million, provides integration synergies with OMNIQ's AI solutions. The combined revenue for OMNIQ and Dangot reached $24.9 million in Q4 2021, contributing to an annualized revenue milestone surpassing $100 million.

OMNIQ Corp. (NASDAQ: OMQS) reported its financial results for Q4 and FY 2021, showcasing a robust revenue growth of 93% YoY in Q4, reaching $24.9 million, and a 42% increase in annual revenue to $78.3 million. The company achieved a significant milestone with a near $100 million annual revenue run rate, aided by the acquisition of 77% of Dangot Computers Ltd., resulting in new projects and increased gross profit margins. Despite a quarterly net loss of $2.2 million, cash reserves grew by 39% to approximately $7.1 million. OMNIQ anticipates continued growth through its AI and automation offerings.

OMNIQ Corp. (NASDAQ: OMQS) will host a conference call and webcast on April 1, 2022, at 11:00 AM Eastern Time to discuss its financial results for Q4 and the full year ended December 31, 2021. Participants can dial in 5-10 minutes prior to the call. The toll-free number is 888-506-0062 for U.S. callers and 973-528-0011 for international participants. A replay will be available post-event. OMNIQ provides AI-driven solutions for supply chain management and serves various sectors, with annual revenues exceeding $50 million.

OMNIQ Corp. (NASDAQ: OMQS) announced a purchase order for its Smart Digital Pricing System (SDPS) to equip 42 branches of a supermarket chain in Israel, received through its subsidiary, Dangot Computers Ltd. This system allows simultaneous price updates across branches, reducing labor costs and minimizing human errors. OMNIQ aims to expand this solution to major U.S. supermarket chains, tapping into the $1 trillion North American grocery market. The company continues to focus on AI and sophisticated solutions to enhance efficiency in retail operations.

OMNIQ Corp. (NASDAQ: OMQS) has secured a three-year $3.5 million service project from a leading global logistics company, reflecting confidence in OMNIQ’s advanced supply chain solutions. The contract focuses on technical support for mobile computerized equipment supplied previously. With a backlog of orders at the start of 2022, OMNIQ's annual revenues have exceeded $50 million, driven by clients across various sectors. The company is positioned in lucrative markets like the Global Safe City market, projected to reach $29 billion in 2022.