Omniq Corp Stock Price, News & Analysis

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.

omniQ Corp. (OTCQB: OMQS) announced a conference call on May 14, 2021, at 11:00 AM ET to discuss Q1 2021 financial results. The call can be accessed by dialing 877-407-9210 for toll-free or 201-689-8049 for international callers. A live webcast is also available at this link. omniQ provides AI-based solutions for sectors such as supply chain automation and public safety, serving various clients including government agencies and Fortune 500 companies. The company has seen annual revenues exceed $50 million since 2014.

OMNIQ Corp. (OTCQB: OMQS) announces its first community project in California, partnering with USGI-Upland Group, a local security services provider. The partnership aims to deliver Security Systems, Access Control, and Parking Management Solutions across Southern California. The initial customer is a large property management company overseeing hundreds of properties in California and over 2,500 globally, which has signed a three-year Software as a Service recurring revenue agreement with OMNIQ. This collaboration marks a strategic move into the California market for OMNIQ's patented Q Shield technology.

OMNIQ Corp. (OTCQB: OMQS) has partnered with Q-Wire Technologies Inc. to provide advanced security and access control solutions in Florida and the Caribbean. This partnership aims to deliver video surveillance and physical security to homeowners associations (HOAs) and other sectors. OMNIQ's Q Shield™ will be integrated within Q-Wire’s systems to enhance asset protection and crowd control. The collaboration marks a strategic move into a lucrative market, with OMNIQ's revenue exceeding $50 million since 2014, targeting the growing Global Safe City market projected to reach $29 billion by 2022.

OMNIQ Corp (OTCQB: OMQS) has secured a purchase agreement worth approximately $1.1 million with a leading global specialty apparel retailer generating over $3 billion in annual revenue. The deal encompasses mobile computerized IoT equipment and distribution center solutions aimed at enhancing e-commerce operations. The retailer operates more than 750 stores across various regions, emphasizing the strength of OMNIQ’s customer base. This contract contributes to over $28 million in new orders since the start of 2021, indicating robust growth momentum for OMNIQ.

OMNIQ Corp. (OTCQB: OMQS) reported its financial results for Q4 and the full year 2020, highlighting a 12% YoY increase in Q4 revenue to $12.9 million but a slight overall annual revenue decline of 3.5% to $55.2 million due to pandemic impacts. The company achieved record new orders of $25 million in Q1 2021 and experienced 100% growth in AI technology sales. Despite a cash increase to over $4.5 million, OMNIQ's net loss for 2020 was $11.5 million, worsening from a $5.4 million loss in 2019. CEO Shai Lustgarten expressed optimism for 2021 growth prospects.