Omniq Corp Stock Price, News & Analysis

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.

OMNIQ Corp. (NASDAQ: OMQS) has announced the rollout of 1,000 Smart Buy and Go (SBG) units for a major Israeli supermarket chain, aiming to enhance the shopping experience by eliminating checkout lines. The initiative aligns with OMNIQ's strategy of leveraging automation and AI solutions to create efficiencies. The SBG solution, offered at a competitive price compared to other smart carts, promises quicker returns for retailers. OMNIQ plans to introduce SBG to Fortune 500 customers in the U.S., tapping into the $1 trillion North American grocery market.

OMNIQ Corp. (NASDAQ: OMQS) has secured a $1 million follow-on order from a leading U.S.-based less-than-truckload (LTL) trucking company, which has been a customer for over 20 years. This order supports an ongoing mobility platform upgrade, enhancing logistics efficiencies with advanced devices for real-time shipping and inventory management. OMNIQ's revenue has risen to over $50 million since 2014, and the company is poised for future growth in markets projected to reach billions.

OMNIQ Corp. (NASDAQ: OMQS) has successfully deployed its Q Shield™ vehicle recognition systems in Adrian, Georgia, enhancing public safety through AI technology. This system helps local law enforcement identify vehicles with expired registrations or no insurance. The technology leverages over 17,000 installed sensors globally to provide timely alerts for vehicles on wanted lists. The company's business model focuses on a recurring revenue share with city authorities, contributing to improved public safety and law enforcement effectiveness.

OMNIQ Corp. (NASDAQ: OMQS) has been invited to present at the Take Aim: Lake Street's Shooting Sports & Public Safety Investor Conference, scheduled for January 26-27, 2022. The company will engage in one-on-one and group calls with investors on January 27. OMNIQ specializes in AI-based machine vision solutions for supply chain management and public safety, serving government agencies and Fortune 500 companies. With annual revenues exceeding $50 million and opportunities in growing markets such as Safe Cities and Ticketless Parking, OMNIQ continues to innovate amidst increasing demand.

OMNIQ Corp. (NASDAQ: OMQS) has received an order to supply 500 AI-integrated kiosks from its Israeli subsidiary, Dangot Computers Ltd. This project is from a major US automated solutions provider operating in over 250 cities and generating over $1 billion in revenue.

The rollout will see the first 100 kiosks shipped by December 2021, with the remaining units distributed over 18 months. CEO Shai Lustgarten highlighted the rapid market penetration and demand for these advanced kiosks as key indicators of product success.

OMNIQ Corp. (NASDAQ: OMQS) announced the completion of its acquisition of an additional 26% stake in Dangot Computers Ltd., increasing its ownership to 77%. The acquisition, paid with $4,035,000 from working capital and a bank loan, aims to enhance OMNIQ's AI and supply chain solutions. Dangot, a profitable automation leader in Israel, offers products across various sectors. OMNIQ expects to leverage Dangot's innovations to strengthen its US sales and integrate AI products into joint supply chain operations, positioning the company for growth in the expanding global markets.

OMNIQ Corp. (NASDAQ: OMQS) has acquired an additional 26% stake in Dangot Computers Ltd., raising its ownership to 77%. The transaction, worth approximately $4.1 million, is expected to close on November 24, 2021. This acquisition enhances OMNIQ's position in automation and digital payment solutions across various sectors, including healthcare and retail, with expected revenues of approximately $91 million for pro forma 2020. OMNIQ anticipates integration into the U.S. market to yield swift positive results, particularly leveraging Dangot's established reputation and innovative technologies.

OMNIQ Corp. (NASDAQ: OMQS) reported strong financial results for Q3 2021, achieving a 30% year-over-year increase in sales to $20.5 million and a 56% sequential increase from Q2. Gross profit rose 68% with margins expanding to 23%. Cash increased 118% to $10 million. The company completed a private placement and acquired a 51% stake in Dangot Computers, facilitating significant new orders. However, net loss widened to $5 million compared to last year, and operating expenses rose substantially due to acquisition-related costs.