OMNIQ CORP - OMQS STOCK NEWS

omniQ Corp. (NASDAQ:OMQS) has announced its participation in the Third Annual Winter Wonderland – Best Ideas Virtual Investor conference, scheduled for February 21-24, 2023. CEO Shai Lustgarten is set to present on February 21 at 11 am ET, with opportunities for one-on-one meetings available throughout the event. The conference features 37 companies recommended by qualified institutional investors as the best ideas. omniQ specializes in AI-based technology solutions for image processing and serves various sectors, including government and Fortune 500 companies. The company reported over $50 million in annual revenues and is targeting billion-dollar markets.

omniQ Corp. (NASDAQ: OMQS) announced that its subsidiary, Dangot Computers Ltd, secured a $3 million multi-year contract with Clalit, Israel’s largest HMO. The contract involves supplying and maintaining Self Service Patient Management Kiosks across 14 hospitals and over 2,000 clinics, serving more than 50% of Israel's population. This win highlights omniQ's growth in healthcare automation, enhancing patient care and operational efficiency. CEO Shai Lustgarten emphasized the significance of this order in improving healthcare services and reducing human errors.

OMNIQ Corp. (NASDAQ: OMQS) has been selected by the Cities of Mitchellville and Jewell, Iowa, to implement its Q Shield Safe City System. This AI-based vehicle recognition technology identifies vehicles with outstanding traffic violations and alerts law enforcement. With these additions, OMNIQ now has 16 cities under contract nationwide. The deployment aims to enhance community safety while generating recurring revenue for the company. OMNIQ's advanced machine vision system, used globally with over 17,000 sensors, leverages patented algorithms for superior accuracy.

omniQ Corp. (NASDAQ: OMQS) has appointed Professor Mina Teicher to its Board of Directors, enhancing its leadership with her extensive background in mathematics and AI technology. Teicher, known for her role at Bar-Ilan University and the Emmy Noether Research Institute, brings nearly 50 years of experience, particularly in computer vision and cybersecurity. CEO Shai Lustgarten highlighted her potential contributions to omniQ’s growth plans. Teicher replaces General (Ret) Itzhak Almog, who did not seek reelection for personal reasons.

OMNIQ Corp. (NASDAQ: OMQS) has been selected to deploy its Q Shield vehicle recognition systems in Brooklet, Georgia, and Ellsworth, Iowa. This AI-based technology identifies vehicles with outstanding traffic violations and alerts authorities. The Q Shield system is already installed in over 17,000 locations globally, demonstrating its effectiveness. CEO Shai Lustgarten highlighted the rapid adoption of the system, with 14 cities now utilizing Q Shield to enhance public safety. OMNIQ addresses $29 billion and $5.2 billion markets related to safe cities and ticketless parking, respectively.

OMNIQ Corp. (NASDAQ: OMQS) reported significant financial growth for the three and nine months ending September 30, 2022. The company achieved a record revenue of $77.5 million, marking a 45% increase year-over-year, with a gross profit of $18.1 million, up 71%. Third-quarter revenue surged 32% to $27 million, accompanied by a 28% rise in gross profit. Despite operational challenges, adjusted EBITDA losses narrowed. OMNIQ secured contracts with major clients, including a $10 million agreement with Israel's Ministry of Health, indicating strong demand across sectors.

OMNIQ Corp. reported robust financial results for the nine months ending September 30, 2022, showcasing a 45% revenue growth to $77.5 million. The gross profit surged 71% to over $18 million, with a gross margin increase to 23%. Adjusted EBITDA improved by $2 million year-over-year. Q3 revenue reached $27 million with a 32% organic growth. Key recent developments include significant purchase agreements, including a $10 million deal with Israel’s Ministry of Health and major orders in the AI-driven supply chain sector.

OMNIQ Corp. (NASDAQ: OMQS) will release its Third Quarter 2022 Earnings on November 14, 2022, after market close, followed by a live earnings call on November 15 at 11:00 AM EST. The company specializes in Supply Chain and AI-based solutions, offering services in sectors like public safety and traffic management. OMNIQ has seen annual revenues exceed $50 million and targets growing markets like Global Safe City and Ticketless Safe Parking, projected to reach $29 billion and $5.2 billion respectively by 2022 and 2023.

OMNIQ Corp. (NASDAQ:OMQS) announced a new purchase order from a major American fast food chain with over 800 locations, following previous orders in August 2022. This order includes hardware and AI-based software aimed at enhancing customer service and driving revenue. CEO Shai Lustgarten highlighted the significant growth potential in the Quick Service Restaurants market, viewing this integration as a transformative step for their business. The company has also reported a backlog of $44.1 million in orders from other projects, indicating strong demand for its AI technology.