Omniq Corp Stock Price, News & Analysis

OMNIQ Corp. (OTCQB: OMQS) has deployed its AI-based parking control solution, PERCS™, at a major Ohio medical center. This implementation, integrated with WPS Parking Solutions and Citywide Solutions, Inc. (CSI), will generate ongoing SaaS and revenue share streams for OMNIQ. The system offers customized parking assignments, a user-friendly customer portal, cloud-based management, and enhanced security measures.

Key features include specific parking area allocation based on pass type, vehicle registration and management through an online portal, centralized cloud-based control, and security features like hot lists and allow lists. OMNIQ CEO Shai Lustgarten emphasized that the partnerships have added significant functionality to their AI machine vision solution, creating more value for customers and expanding potential use cases.

OMNIQ CORP (OTCQB: OMQS), a leading AI solutions provider for supply chain management, public safety, and healthcare, has announced its uplisting from the OTC Pink Market to the OTCQB Venture Market. This move, effective immediately, reflects OMNIQ's commitment to increased transparency, improved investor confidence, and attracting a broader shareholder base.

The uplisting is expected to provide better trading conditions, including improved market depth and reduced spreads. CEO Shai Lustgarten emphasized that this milestone validates their business model and sets the stage for future expansion. OMNIQ continues to leverage its proprietary AI technology in machine vision and IoT to optimize operations across various industries.

OMNIQ Corp. announced its transition from NASDAQ to OTC Markets due to not meeting the minimum market value requirement of $35 million. Despite the delisting, the company's stock will continue to trade under the ticker symbol OMQS. OMNIQ assures shareholders that their investments remain secure and tradable, emphasizing their commitment to corporate governance and transparency. The company aims for a swift relisting on a national exchange and continues to focus on AI-based solutions for various industries. Additionally, OMNIQ is expanding its portfolio with fintech products, SaaS solutions, and advancements in mobile computing.

OMNIQ reported substantial improvements in Q1 2024 earnings, focusing on profitability and operational efficiency. Revenue grew 14% to $18.3M, and the gross margin reached a record 28%, up from 13% in Q4 2023. Gross profit surged by 142% to $5M, while SG&A expenses decreased by 18%. The net loss was reduced by $1.4M or 40% compared to the same period last year. The company also noted significant business developments, including AI upgrades at DFW Airport, fintech contracts, and a new product launch. OMNIQ is applying for uplisting to the OTCQX marketplace to enhance its market presence.

OMNIQ Corp., a provider of AI and IoT-based solutions, will release its First Quarter 2024 Earnings report after the market closes on May 15, 2024. The company will hold a live earnings call on May 16, 2024, at 9:00 AM EST. Participants can join the call via webcast or phone. Details for joining and a replay option are provided in their press release.

OMNIQ Corp. has submitted an application to list its common stock on the OTCQX marketplace, aiming for higher financial standards and transparency. The company remains committed to growth and profitability, actively acquiring new customers and expanding existing partnerships. OMNIQ's innovative AI technology solutions cater to various industries, positioning it strategically in rapidly expanding markets.

OMNIQ Corp. announces a strategic upgrade to the AI-based vehicle recognition system at Dallas Fort Worth International Airport (DFW), aiming to enhance traveler experience and operational efficiency. The upgrade signifies a decade of successful collaboration with DFW, reinforcing OMNIQ's commitment to excellence and customer satisfaction. By leveraging advanced technology, OMNIQ ensures seamless service for millions of travelers, extending the longevity of previous investments at DFW. The use of AI-machine vision technology enhances safety, efficiency, and customer experience, solidifying OMNIQ's position as a global leader in innovative solutions.