OMNIQ CORP - OMQS STOCK NEWS

OMNIQ Corp. (OTCQB: OMQS) announced a significant order for its Q Shield™ AI-based machine vision solution from a foreign government defense department. This order follows the solution's successful performance, which will replace an existing competitor’s product. The Q Shield™ system leverages patented Neural Network algorithms for enhanced accuracy in identifying vehicle characteristics. This marks OMNIQ's fifth AI project win in the past 20 days, showcasing growing demand for its innovative technology.

OMNIQ Corp. (OTCQB: OMQS) has entered a 3-year revenue sharing agreement with the City of Watkinsville, Georgia, to deploy its Q Shield™ Vehicle Recognition and citation management platform. This initiative is intended to enhance law enforcement operations by providing alerts on vehicles related to criminal investigations and facilitating citation issuance. The Q Shield™ solution utilizes AI and machine learning for high-accuracy vehicle identification, with over 17,000 sensors installed globally. OMNIQ aims to leverage this partnership as a strategic step in expanding its Safe City initiative.

omniQ Corp (OTCQB: OMQS) announced a contract to deploy its AI-based EZ Edge™ VRS at Philadelphia International Airport. This system automates vehicle entry and exit, enhancing ride-share traffic management for companies like Uber and Lyft. EZ Edge™ utilizes edge-based processing and a proprietary deep learning engine, already operational in over 30 U.S. airports. This deployment follows recent contracts with Georgia State University and a multi-billion dollar medical center, indicating strong growth potential in critical markets.

omniQ Corp (OTCQB: OMQS) has signed a Phase 1 SaaS Agreement with a leading medical center to deploy its PERCS™ cloud-hosted software, focusing on campus parking management. The medical center, which generates over $5 billion annually, has also entered a Gold Service Level Agreement for 24/7 support. This two-year service agreement aims to streamline parking operations by integrating various management systems, allowing for better resource management across a 100-acre campus. This marks a significant step in omniQ's growth within the AI and IoT sectors.

omniQ Corp (OTCQB: OMQS) announced a recurring revenue agreement with ASPIS Parking for the deployment of its PERCS™ Cloud-hosted solution at Georgia State University. This follows increasing demand for omniQ's AI solutions among educational institutes and security authorities. The PERCS™ system aims to enhance parking management for faculty, staff, and students, integrating with various payment systems. This agreement signifies a strategic partnership and potential for scalable growth within the AI-based business model.

OMNIQ Corp. (OTCQB: OMQS) has secured new purchase orders totaling approximately $1.5 million from a major international freight transportation and logistics company. This order is part of close to $40 million in agreements since January 1, 2021. OMNIQ’s rugged mobile computers will enhance supply chain operations, automating processes and improving efficiency. The company continues to experience strong momentum in 2021, building on past multimillion-dollar orders from the same customer. OMNIQ's annual revenues have surpassed $50 million, serving a diverse clientele globally.

OMNIQ Corp. (OTCQB: OMQS) announced a significant milestone with Q1 2021 revenue of $19.8 million, up 43% year-over-year. The company saw a 100% increase in AI-based technology contracts and secured notable purchase agreements totaling $12.9 million. Additionally, OMNIQ is poised for growth following a definitive agreement to acquire Dangot Computers Ltd., expanding its revenue capacity to $91 million. Despite the revenue rise, OMNIQ reported a net loss of $3.3 million, slightly higher than the previous year, raising concerns about ongoing financial challenges.

OMNIQ Corp. (OTCQB: OMQS) reported Q1 2021 revenue of $19.8 million, showing a robust 43% year-over-year increase. The company recently agreed to acquire Dangot Computers Ltd., creating a combined revenue stream of $91 million. AI-based technology orders surged by 100% in the quarter. However, OMNIQ faced a net loss of $3.3 million and increased operating expenses at $5.5 million.

CEO Shai Lustgarten emphasized the potential for rapid growth in AI-based offerings post-acquisition.

OMNIQ Corp. (OTCQB: OMQS) announced the acquisition of a 51% stake in Dangot Computers Ltd for approximately $7.6 million, comprising $5.6 million in cash and $2 million in restricted shares. This acquisition aims to leverage Dangot's advanced automation technologies in retail and healthcare, and align with OMNIQ's AI solutions to enhance supply chain automation. The deal consolidates a pro forma revenue of about $91 million for both companies in fiscal year 2020. Closing is contingent on Israeli Competition Authority approval.