Omniq Corp Stock Price, News & Analysis

omniQ Corp. (OTCQB: OMQS), a leader in AI-driven technology solutions, announced a conference call scheduled for August 13, 2021, at 11:00 AM ET. The call will cover the financial results for Q2 ended June 30, 2021. Participants can join via toll-free numbers or a live webcast. omniQ specializes in machine vision and AI technology for various sectors, generating over $50 million in annual revenues from its diverse client base. The company aims to leverage its services in rapidly growing markets, including Safe Cities and Ticketless Safe Parking, projected to reach $29 billion and $5.2 billion by 2023, respectively.

omniQ Corp. (OTCQB: OMQS) announced that Aroma Espresso Bar, the largest coffee chain in Israel, selected Dangot to provide self-service kiosks. By the end of 2021, approximately 120 kiosks will be installed in Aroma's Israeli branches, with plans for 250 by 2022. Dangot's kiosks feature advanced computing and EMV payment systems. The self-service kiosk market is expected to reach $30.8 billion by 2024. CEO Shai Lustgarten aims to leverage Dangot's success globally, particularly in the US market.

omniQ Corp (OTCQB: OMQS) has secured a 3-year contract with Cypress College in California to implement its PERCS™ software for smart campus parking management. This innovative cloud-based platform enhances enforcement and revenue collection with features like virtual permits, mobile enforcement, and PCI-compliant payment processing. This contract follows several recent contract wins in significant projects, boosting omniQ's SaaS recurring revenue model. The CEO emphasizes the growing adoption of the PERCS™ solution, which eliminates the need for physical permits.

OMNIQ Corp. (OTCQB: OMQS) announced receiving an order for its Q Shield™ AI-based machine vision solution at the Port of Ashdod, Israel. This port, the largest in Israel, handles over 20 million tons annually. The Q Shield™ utilizes advanced Neural Network algorithms for vehicle recognition, enhancing decision-making. Following success in previous projects including those at Georgia State and Philadelphia International Airport, this deployment aims to improve maritime trade and security in Israel. OMNIQ's revenues exceed $50 million, with significant market opportunities in the Global Safe City and Ticketless Safe Parking sectors.

OMNIQ Corp. (OTCQB: OMQS) reported the acquisition of a 51% stake in Dangot Computers Ltd for $7.6M, intending to enhance its AI solutions for supply chain automation. In fiscal year 2020, consolidated pro forma revenue reached approximately $91M, driven by Dangot's $35M earnings and diversified clientele across healthcare, retail, and logistics. OMNIQ's private placement raised about $13.8M for the acquisition and operational expenses. The deal aims to facilitate OMNIQ's potential up-listing to a national exchange by 2021, leveraging Dangot's market reach and innovative technologies.

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.