Omniq Corp Stock Price, News & Analysis

OMNIQ Corp. (NASDAQ: OMQS) has successfully deployed its patented AI-based Machine Vision solution at a total of 57 airports across the United States, including major locations like Miami, Atlanta, and LAX. This latest implementation involves four additional airports, enhancing security and parking management capabilities. Key features include high-speed vehicle recognition, crucial for public safety and revenue management. CEO Shai Lustgarten highlighted the significance of a deployment at a major Texas airport, which manages over 30 million passengers annually. The technology addresses substantial markets in public safety and parking management, poised for significant growth.

OMNIQ Corp. (NASDAQ: OMQS) has been selected by McRae Helena, Georgia, to implement its Q Shield vehicle recognition system (VRS) technology. This system identifies vehicles against national and local databases, issuing citations for violations. CEO Shai Lustgarten noted the success of their AI-based Safe City system, contributing to safety results and revenue generation. With this deployment, OMNIQ expands its presence to 17 contracted cities, seven in Georgia. The company operates in several major markets, including safety and parking management, with over 17,000 sensors installed globally, showcasing its technology's appeal and advanced capabilities.

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.