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omniQ Receives 10-Year Contract from La Sierra University for its AI Based Machine Vision and Software for Campus Parking Management, PERCS™

  • omniQ to deploy its proprietary PERCS™️ (Permitting, Enforcement, Revenue and Collection) Software integrated with its AI based Machine Vision Vehicle Recognition System (VRS)
  • PERCS™ represents a Software as a Service (SaaS) recurring Revenue model
  • Project follows 2021 announced AI based Machine Vision contracts for a foreign Defense Department HQ, a foreign Homeland Security Authority, the Georgia State University, a multibillion dollar Medical Center, The City of Watkinsville, Home Owners Association in Florida and a mixed-use property in Southern California

SALT LAKE CITY, Sept. 15, 2021 (GLOBE NEWSWIRE) — omniQ Corp (NASDAQ: OMQS) (“OMNIQ” or “the Company”), a provider of Artificial Intelligence (AI) and IoT – based solutions, announced today it has received a 10-year contract from La Sierra University to deploy its PERCS™ (Permitting, Enforcement, Revenue and Collection) software for campus parking management. The contract includes an upgrade to OMNIQ’s new eCite Pro LPR system, enabling license plate digital chalking for time-based parking enforcement.

In addition, the university has entered into a Gold Service Level Agreement (SLA) with omniQ to provide 24/7/365 support coverage. The agreement provides terms for remote, onsite, upgrade, warranty, maintenance, and hardware replacement throughout the term.

The PERCS™ solution includes virtual permits, mobile enforcement, and gated access control with fixed license plate reading (LPR) along with Citation and Payment Card Industry (PCI) compliant payment collections with online adjudication. The solution also includes an expansion of fixed lane AI/machine vision technology at entry and exit lanes

omniQ’s CEO, Shai Lustgarten stated, “The momentum continues, following our recent announcements regarding our AI based projects for a foreign Department of Defense HQ, terror prevention in a sensitive zone outside of the US, a top ranked Medical Center, Georgia State University, the City of Watkinsville and various communities in Florida and California. We are pleased to enter into a 10-year agreement with La Sierra University to provide our AI based PERCS™ software, streamline campus parking management and provide for around the clock support. La Sierra has been an early adopter of our Permitting and Enforcement solutions We are pleased to enter into this next phase of elevated partnership with La Sierra using our latest technologies.”

Chief Douglas Nophsker at La Sierra University commented, “We appreciate our partnership with OMNIQ. We look forward to seeing the possibilities that their newest technology has to offer our university. OMNIQ has worked hard to make sure that this is the best system possible for our campus. Their service team has been outstanding!”

About OMNIQ Corp.OMNIQ Corp. (NASDAQ: OMQS) provides computerized and machine vision image processing solutions that use patented and proprietary AI technology to deliver data collection, real-time surveillance and monitoring for supply chain management, homeland security, public safety, traffic & parking management and access control applications. The technology and services provided by the Company help clients move people, assets and data safely and securely through airports, warehouses, schools, national borders, and many other applications and environments.

OMNIQ’s customers include government agencies and leading Fortune 500 companies from several sectors, including manufacturing, retail, distribution, food and beverage, transportation and logistics, healthcare, and oil, gas, and chemicals. Since 2014, annual revenues have grown to more than $50 million from clients in the USA and abroad.

The Company currently addresses several billion-dollar markets, including the Global Safe City market, forecast to grow to $29 billion by 2022, and the Ticketless Safe Parking market, forecast to grow to $5.2 billion by 2023. For more information, visit www.omniq.com.

Information about Forward-Looking Statements

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.

This release contains “forward-looking statements” that include information relating to future events and future financial and operating performance. The words “anticipate”, “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for the Company’s products particularly during the current health crisis , the introduction of new products, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, the Company’s ability to manage credit and debt structures from vendors, debt holders and secured lenders, the Company’s ability to successfully integrate its acquisitions, and other information that may be detailed from time-to-time in OMNIQ Corp.’s filings with the United States Securities and Exchange Commission. Examples of such forward looking statements in this release include, among others, statements regarding revenue growth, driving sales, operational and financial initiatives, cost reduction and profitability, and simplification of operations. For a more detailed description of the risk factors and uncertainties affecting OMNIQ Corp., please refer to the Company’s recent Securities and Exchange Commission filings, which are available at https://www.sec.gov. OMNIQ Corp. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by law.

Investor Contacts:

James CarbonaraHayden IR(646)-755-7412james@haydenir.com

Brett MaasHayden IR(646) 536-7331brett@haydenir.com

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OMNIQ Corp. Reports Strong Sales of $15.8 Million for Third Quarter of 2020, up 21% Year over Year — Copy

  • Strong sequential revenue growth of 25% over Q2 2020
  • Received orders from companies and organizations in diverse sectors, including healthcare, food, logistics, public safety, and basic materials

SALT LAKE CITY, Nov. 12, 2020 (GLOBE NEWSWIRE) — OMNIQ Corp. (NASDAQ: OMQS) (“OMNIQ” or “the Company”), a provider of Supply Chain and Artificial Intelligence (AI)-based solutions, today announced its financial results for the three- and nine-month periods ended September 30, 2020.

Third quarter and recent highlights include:

  • Generated sales of $15.8 million for the third quarter of 2020, a 21% increase from the same quarter last year and a 25% increase from the second quarter of 2020
  • Announced a partnership with Zebra Technologies that integrates OMNIQ’s AI-based machine vision technology with Zebra’s MotionWorks location solution for advanced logistics yard management
  • Announced orders totaling $3.5 million from a worldwide leader in third-party logistics for the supply of mobile data collection devices for order fulfillment and warehouse management
  • Announced a $4.0-million order from a leading healthcare and pharmaceutical supplier for the supply of mobile data collection devices
  • Received an additional $1.0 million in orders from a leading U.S. supermarket chain
  • Awarded a $1.0-million purchase order by a leading sales and marketing agency focused on supporting consumer packaged goods companies and retailers
  • Awarded a $1.8-million project related to the implementation of an advanced delivery logistics initiative for a global metal solutions company
  • Began deployment of AI-based SeeDOT™ systems for accurate, automated and real-time monitoring of commercial vehicles at weigh and safety stations in a Southern U.S. state
  • Launched e-commerce platform targeting small- and medium-sized businesses
  • Received order for AI-based machine vision solution for homeland security and public safety system applications for a Himalayan country
  • Cash balance at September 30, 2020 grew to over $5.0 million from $1.6 million at December 31, 2019

“Our strong top-line growth in the third quarter, both year over year and sequentially, reflects the underlying strength, quality and reliability of our product offerings, combined with the quality and strength of our unique, diversified customer base,” said Shai Lustgarten, CEO of OMNIQ. “As we stated in our recent Letter to Shareholders in October, we are seeing traction in our Supply Chain Mobility and Smart City markets across multiple industries. Specifically, our “contactless” technologies apply to many organizations that are increasingly focused on productivity, health, and safety due to the ongoing COVID-19 pandemic. Our third-quarter results reflect the successful efforts of our sales team and the increasing interest in our technology solutions, and thanks to our investments in R&D in the area of advanced AI technology, we started the fourth quarter with increasing demand for our AI-based solutions that we expect to improve our gross margin in the near future as we work to take the Company towards profitability.

“Despite the economic uncertainties resulting from the pandemic, we remain steadfast in cementing our position as a supplier of choice for Internet-of-Things-enabled supply chain solutions, as well as advanced AI-based machine vision solutions powered by deep neural-network algorithms for Fortune 500 companies, institutions, government agencies and municipalities around the world. We pride ourselves in the accuracy and efficiency of our object identification technologies, and helping our growing roster of customers with a broad range of applications, from supply chain logistics, to Parking and Mobility, to border control, to campus safety, to law enforcement, and many more. We see tremendous opportunity in our fast-growing target markets and our team at OMNIQ is working relentlessly to deliver growth and to create value for our shareholders. We also believe that our plan to uplist to a senior stock exchange, if completed, will increase investor awareness and broaden our institutional and stakeholder base.”

Third Quarter 2020 Financial Results
OMNIQ reported revenue of $15.8 million for the quarter ended September 30, 2020, an increase of 20.9% from $13.1 million in the third quarter of 2019. Sequentially, revenue increased by 25% from $12.7 million in the second quarter of 2020. The revenue increase reflects higher demand related to the COVID-19 pandemic from certain customers during the quarter as well as continued traction in our markets. The higher cost of goods sold in the third quarter of 2020, which reflects an unfavorable change in the product mix with large lower-margin orders related to the COVID-19 pandemic to certain large customers accounting for a greater percentage of overall sales, resulted in a lower gross margin than the third quarter last year.   Total operating expenses for the quarter were $5.8 million, compared with $4.2 million in the third quarter of 2019. The increase was largely attributable to an increase in non-cash stock-based compensation awarded to professional service providers.

Net loss for the quarter was $3.8 million, or a loss of $0.83 per basic share, compared with a loss of $1.4 million, or a loss of $0.38 per basic share, for the third quarter of last year. The increase in net loss is mainly attributable to lower gross margin due to product mix and – in spite of slightly lower salary and employee benefits – higher operating expenses mainly attributable to non-cash stock-based compensation paid for professional services during the quarter, compared with the same period in 2019.

EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) for the third quarter of 2020 was a loss of $2.4 million, compared with a loss of $0.3 million in the third quarter of 2019. Adjusted EBITDA for the third quarter of 2020 was a loss of $0.9 million, compared with Adjusted EBITDA of $0.5 million in the third quarter last year.

First Nine Months 2020 Financial Results
OMNIQ reported revenues of $42.3 million for the first nine months of 2020, a decrease of 7.7% compared with the first nine months of 2019. The decrease was primarily related to stronger fulfillment and deliveries by the Company during the first nine months of 2019. The higher cost of goods, which reflects an unfavorable change in product mix with several large lower-margin orders related to the COVID-19 pandemic to certain large customers accounting for a greater percentage of overall sales, resulted in a decrease in gross margin to 19.9% from 25.6% in the first nine months of 2019. Total operating expenses for the first nine months of 2020 were $14.8 million compared with $12.6 million for the same period last year. The increase in operating expense was largely related to an increase in non-cash stock-based compensation granted to professional service providers as well as increased research and development spending.

Net loss for the first nine months of 2020 was $8.6 million, or a loss of $2.03 per basic share, compared with a loss of $2.6 million, or a loss of $0.64 per basic share, for the first nine months of 2019.

EBITDA for the first nine months of 2020 was a loss of $5.0 million, compared with EBITDA of $781 thousand for the first nine months of 2019. Adjusted EBITDA for the first nine months of 2020 was a loss of $2.3 million, compared with adjusted EBITDA of $2.1 million for the same period in 2019.

Conference Call Information
OMNIQ will host a conference call and webcast on Friday, November 13, 2020, at 11:00 a.m. Eastern Time to discuss financial results for the third quarter ended September 30, 2020.

To access the live webcast, please click on this webcast link to register, or go to the Company’s Investor Relations page by clicking on this OMNIQ IR link.

To participate in the call by phone, please dial (877) 407-9210 approximately five minutes prior to the scheduled start time. International callers please dial (201) 689-8049.

A replay of the teleconference will be available until December 13, 2020 and may be accessed by dialing (877) 481-4010. International callers may dial (919) 882-2331. Callers should use conference ID: 38548.

About OMNIQ Corp.
OMNIQ Corp. (NASDAQ: OMQS) provides computerized and machine vision image processing solutions that use patented and proprietary AI technology to deliver data collection, real-time surveillance and monitoring for supply chain management, homeland security, public safety, traffic & parking management and access control applications. The technology and services provided by the Company help clients move people, assets and data safely and securely through airports, warehouses, schools, national borders, and many other applications and environments.

OMNIQ’s customers include government agencies and leading Fortune 500 companies from several sectors, including manufacturing, retail, distribution, food and beverage, transportation and logistics, healthcare, and oil, gas, and chemicals. Since 2014, annual revenues have grown to more than $50 million from clients in the USA and abroad.

The Company currently addresses several billion-dollar markets, including the Global Safe City market, forecast to grow to $29 billion by 2022, and the Ticketless Safe Parking market, forecast to grow to $5.2 billion by 2023. For more information, visit www.omniq.com.

Information about Forward-Looking Statements

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.

This release contains “forward-looking statements” that include information relating to future events and future financial and operating performance. The words “anticipate”, “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for the Company’s products particularly during the current health crisis, the introduction of new products, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, the Company’s ability to manage credit and debt structures from vendors, debt holders and secured lenders, the Company’s ability to successfully integrate its acquisitions, and other information that may be detailed from time-to-time in OMNIQ Corp.’s filings with the United States Securities and Exchange Commission. Examples of such forward looking statements in this release include, among others, statements regarding revenue growth, driving sales, operational and financial initiatives, cost reduction and profitability, and simplification of operations. For a more detailed description of the risk factors and uncertainties affecting OMNIQ Corp., please refer to the Company’s recent Securities and Exchange Commission filings, which are available at http://www.sec.gov. OMNIQ Corp. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by law.

Investor Contact:
888-309-9994
IR@omniq.com

OMNIQ CORP.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(UNAUDITED)

For the three monthsFor the nine months
ending September 30,ending September 30,
(In thousands, except share and per share data)2020201920202019
Revenues
Total Revenues$15,833$13,097$42,309$45,843
Cost of goods sold
Cost of goods sold13,0249,60133,88634,123
Gross profit2,8093,4968,42311,720
Operating expenses
General and administrative8377272,4141,941
Salary and employee benefits2,5812,7007,6667,763
Depreciation and amortization5945361,6961,620
Professional fees1,8182683,0181,226
Total operating expenses5,8304,23114,79412,550
Loss from operations(3,021)(735)(6,371)(830
Other income (expenses):
Interest expense(744)(618)(1,957)(1,769)
Other (expenses) income(16)(90)(318)(9)
(708)(2,275)(1,778)
Net Loss Before Income Taxes(3781)(1,443)(8,646)(2,608)
Provision for Income Taxes
Current
Total Provision for Income Taxes
Net Loss attributable to OMNIQ Corp.$(3,781)$(1,443)$(8,646)$(2,608)
Foreign currency translation adjustment(16)12(30)12
Comprehensive loss(3,797)(1,431)(8,676)(2,596)
Reconciliation of net loss to net loss attributable to common shareholders
Net loss(3,781)(1,443)(8,646)(2,608)
Less: Preferred stock – Series C dividend(32)(48)(158)(141)
Net loss attributable to the common stockholders$(3,813)$(1,491)$(8,804)$(2,749)
Net (loss) per share – basic$(0.83)$(0.38)$(2.03)$(0.64)
Weighted average number of common shares outstanding – basic4,588,9443,879,1594,339,6343,865,647

OMNIQ CORP.
CONDENSED CONSOLIDATED BALANCE SHEETS
(UNAUDITED)

As of
September 30, 2020December 31, 2019
(In thousands, except share and per share data)
ASSETS
Current assets
Cash and cash equivalents$5,066$1,615
Accounts receivable, net9,9016,694
Inventory1,6711,889
Prepaid expenses782362
Other current assets965
Total current assets17,42910,625
Property and equipment, net of accumulated depreciation of $555 and $2,195, respectively332463
Goodwill14,69513,921
Trade name, net of accumulated amortization of $1,156 and $2,932, respectively1,1561,458
Customer relationships, net of accumulated amortization of $4,885 and $6,578, respectively4,8856,012
Other intangibles, net of accumulated amortization of $1,104 and $185, respectively1,1041,138
Cash, restricted533533
Right of use lease asset91131
Other assets106172
Total assets$40,331$34,453
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Accounts payable and accrued liabilities$28,480$18,694
Line of credit3,2351,365
Accrued payroll and sales tax1,5421,556
Notes payable, related parties – current portion4801,025
Notes payable – current portion6,9976,497
Lease liability – current portion3854
Other current liabilities1,2671,599
Total current liabilities42,03930,790
Long term liabilities
Notes payable, related party, less current portion7741,172
Accrued interest and accrued liabilities, related party5076
Notes payable, less current portion352143
Lease liability5780
Other long term liabilities220384
Total liabilities43,49232,645
Stockholders’ equity (deficit)
Series A Preferred stock; $0.001 par value; 1,000,000 shares designated, 0 shares issued and outstanding
Series B Preferred stock; $0.001 par value; 1 share designated, 0 shares issued and outstanding
Series C Preferred stock; $0.001 par value; 5,000,000 shares designated, 2,145,030 and 4,828,530 shares issued and outstanding, respectively25
Common stock; $0.001 par value; 15,000,000 shares authorized; 4,634,637 and 3,960,405 shares issued and outstanding, respectively.54
Additional paid-in capital50,71046,861
Accumulated (deficit)(53,849)(45,063)
Accumulated other comprehensive loss(29)1
Total stockholders’ equity (deficit)(3,161)1,808
Total liabilities and stockholders’ equity (deficit)$40,331$34,453

OMNIQ CORP.
RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES
(UNAUDITED)

For the three monthsFor the nine months
ending September 30,ending September 30,
(In thousands, except share and per share data)2020201920202019
EBITDA Calculation
Net loss$(3,781)$(1,443)$(8,646)$(2,608)
Depreciation & amortization5945361,6961,620
Interest expense7446181,9571,769
Income taxes
EBITDA$(2,443)$(289)$(4,993)$781
Adjusted EBITDA calculation
Net loss$(3,781)$(1,443)$(8,646)$(2,608)
Depreciation & amortization5945361,6961,620
Interest expense7446181,9571,769
Income taxes
Stock compensation1,5226702,2751,093
Non-cash penalty on conversion agreements260
Nonrecurring one-time income/expenses16117169180
Adjusted EBITDA$(905)$498$(2,289)$2,054

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OMNIQ Announces Q4 2020 Revenue, up 12% YoY achieving $13 Million in Q4 Revenue; Growth Accelerates in Q1 2021 with a Record $25 Million in New Orders, 100% Growth in AI-Based Technology Contracts — Copy

SALT LAKE CITY, March 31, 2021 (GLOBE NEWSWIRE) — OMNIQ Corp. (NASDAQ: OMQS) (“OMNIQ” or “the Company”), a provider of Supply Chain and Artificial Intelligence (AI)-based solutions, today announced its financial results for the three- and twelve-month periods ended December 31, 2020.

Select Q4 2020 and recent highlights include:

  • OMNIQ won an AI based homeland security project for terror prevention in a sensitive area in the middle east.
  • OMNIQ’s AI-Based VRS (Vehicle Recognition Systems) selected for Los Angeles International Airport Modernization Project by HUB Parking Technology
  • Achieved record $25 Million in new orders in Q1 2021
  • Sales Orders from Artificial Intelligence (AI) Based Technology grew 100% in Q1 2021
  • Q4 Sales of $13 million represents an increase of 12% YoY
  • Cash balance on December 31, 2020 grew to over $4.5 million from $1.6 million on December 31, 2019

“OMNIQ closed the year with solid fourth quarter results, as revenue grew 12% YoY to $13.0 million,” said Shai Lustgarten, CEO of OMNIQ. “For full year 2020, we reached revenue of $55.2 million which represented a very slight decline due the pandemic, as certain parking automation projects got temporarily postponed.”

Mr. Lustgarten continued, “Now, in 2021, we are driving record growth with 1) bringing on new AI-based projects from Homeland Security – terror prevention, Smart City and Parking automation projects, 2) repeat sales to our Fortune 500 supply chain customers which are growing in volume, and 3) laying the groundwork to cross-sell AI-based solutions to our supply chain customers. In Q1 2021, as projects have resumed, we have achieved a record $25 million in new orders, and 100% growth in AI based technology sales orders.”

Shai Lustgarten concluded: “With over $25M in new orders since January 1st, 2021, and achieving over $55M in pandemic 2020 fiscal year, we are confident that our strategy is a winning one and we’re looking forward for a great 2021. We would like to express our thanks to our team for contributing to our success and to our loyal shareholders for their support and we are committed to do our best in 2021 and going forward.”

Fourth Quarter 2020 Financial Results 
OMNIQ reported revenue of $12.9 million for the quarter ended December 31, 2020, an increase of 12% from $11.4 million in the fourth quarter of 2019. The revenue increase reflects higher demand from certain customers during the quarter as well as continued traction in our markets. Total operating expenses for the quarter were $5.1 million, compared with $4.3 million in the fourth quarter of 2019.

Net loss for the quarter was $2.9 million, or a loss of $.61 per basic share, compared with a loss of $2.8 million, or a loss of $.71 per basic share, for the fourth quarter of last year.

Adjusted EBITDA (adjusted Earnings Before Interest, Taxes, Depreciation and Amortization) for the fourth quarter of 2020 amounted to a loss of $772 thousand, compared with an adjusted EBITDA loss of $877 thousand in the fourth quarter of 2019.

Full Year 2020 Financial Results 
OMNIQ reported revenues of $55.2 million for 2020, a decrease of 3.5% compared with 2019. Gross margin was 19.8%, compared to 24.5% in 2019. Total operating expenses for 2020 were $19.9 million compared with $16.9 million for the same period last year. The growth is mainly attributable to increase in R&D and non-cash expenses.

Net loss for 2020 was $11.5 million, or a loss of $2.46 per basic share, compared with a loss of $5.4 million, or a loss of $1.37 per basic share, for 2019.

Adjusted EBITDA for 2020 was a loss of $3 million, compared with an Adjusted EBITDA income of $1.2M for 2019.

Financial tables follow.

CONSOLIDATED STATEMENTS OF OPERATIONS
For the Years Ended December 31,

(In thousands, except share and per share data) 2020 2019
Revenues
Total Revenues, net $ 55,209 $ 57,199
Cost of goods sold
Cost of goods sold 44,293 43,165
Gross profit 10,916 14,034
Operating expenses
Research and development 1,805 1,063
Selling, General and Administrative 15,802 13,682
Depreciation 178 151
Intangible amortization 2,114 2,002
19,899 16,898
Loss from operations (8,983 ) (2,864 )
Other income (expenses):
Interest expense (2,628 ) (2,555 )
Other (expenses) income 112 (23 )
Total other expense (2,516 ) (2,578 )
Net loss before income taxes (11,499 ) (5,442 )
(Provision) benefit for Income Taxes
Current (5 ) (14 )
Deferred
Total income tax benefit (provision) (5 ) (14 )
Net loss from continuing operations $ (11,504 ) $ (5,456 )
Less: Preferred stock – series C dividend (191 ) (146 )
Net loss attributable to the common stockholders (11,313 ) (5,310 )
Foreign currency translation adjustment (166 )
Other comprehensive income (loss) $ (11,149 ) $ (5,310 )
Net loss per share – basic $ (2.46 ) $ (1.37 )
Net loss per share – diluted $ (2.66 ) $ (1.37 )
Weighted average number of common shares outstanding – basic and diluted 4,322,303 3,889,478

CONDENSED CONSOLIDATED BALANCE SHEETS
(AUDITED)

(In thousands, except share and per share data) 2020 2019
ASSETS
Current assets
Cash and cash equivalents $ 4,594 $ 1,615
Accounts receivable, net 9,661 6,694
Inventory 1,507 1,889
Prepaid expenses 670 362
Other current assets 10 65
Total current assets 16,442 10,625
Property and equipment, net of accumulated depreciation of $600 and $2,195, respectively 289 463
Goodwill 14,695 13,921
Trade name, net of accumulated amortization of $3,362 and $2,932, respectively 1,028 1,458
Customer relationships, net of accumulated amortization of $8,111 and $6,578, respectively 4,479 6,012
Other intangibles, net of accumulated amortization of $382 and $185, respectively 1,042 1,138
Cash, restricted 533 533
Right of Use asset 76 131
Other assets 74 172
Total assets $ 38,658 $ 34,453
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Accounts payable and accrued liabilities $ 26,811 $ 18,694
Line of credit 4,914 1,365
Accrued payroll and sales tax 1,717 1,556
Notes payable, related parties – current portion 433 1,025
Notes payable – current portion 6,449 6,497
Lease liability – current portion 31 54
Other current liabilities 1,412 1,599
Total current liabilities 41,767 30,790
Long term liabilities
Notes payable, related party, less current portion 683 1,172
Accrued interest and accrued liabilities, related party 56 76
Notes payable, less current portion 1 143
Lease liability, less current portion 48 80
Other long term liabilities 1,146 384
Total liabilities $ 43,701 $ 32,615
Stockholders’ equity (Deficit)
Series A Preferred stock; 0.001 par value; 1,000,000 shares designated, 0 shares issued and outstanding
Series B Preferred stock; 0.001 par value; 1 share designated, 0 shares issued and outstanding
Series C Preferred stock; 0.001 par value; 5,000,000 shares designated, 2,145,030 and 4,828,530 shares issued and Outstanding, respectively 2 5
Common stock; 0.001 par value; 15,000,000 shares authorized; 4,684,736 and 3,960,405 shares issued and outstanding, respectively. 5 4
Additional paid-in capital 51,842 46,861
Accumulated (deficit) (56,726 ) (45,063 )
Accumulated other comprehensive loss (166 ) 1
Total stockholders’ equity $ (5,043 ) $ 1,808
Total liabilities and stockholders’ equity (deficit) $ 38,658 $ 34,453

RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES
(UNAUDITED)

Year ended
(In thousands) December 31,
Adjusted EBITDA Calculation 2020 2019
Net loss (11,504 ) (5,456 )
Depreciation & amortization 2,292 2,154
Interest expense 2,628 2,555
Income taxes 5 14
Stock compensation 3,478 1,267
Gain on cancellation of insurance
Loss on forgiveness of debt (948 )
Nonrecurring loss events 945 288
Litigation related expenses 42 355
Nonrecurring financing-related costs
Adjusted EBITDA (3,061 ) 1,177
Total revenues, net 55,209 57,199
Adjusted EBITDA as a % of total revenues, net (5.50 )% 2.06 %

Conference Call Information

To participate in this event, dial approximately 5 to 10 minutes before the beginning of the call.
Date, Time: April 1, 2021, at 11:00am ET
Toll-Free: 877-407-9210
International: 201-689-8049
Live Webcast: https://www.webcaster4.com/Webcast/Page/2310/40545

Conference Call Replay Information

Toll-Free: 877-481-4010
Reference ID: 40545

About OMNIQ Corp. 
OMNIQ Corp. (NASDAQ: OMQS) provides computerized and machine vision image processing solutions that use patented and proprietary AI technology to deliver data collection, real-time surveillance and monitoring for supply chain management, homeland security, public safety, traffic & parking management and access control applications. The technology and services provided by the Company help clients move people, assets and data safely and securely through airports, warehouses, schools, national borders, and many other applications and environments.

OMNIQ’s customers include government agencies and leading Fortune 500 companies from several sectors, including manufacturing, retail, distribution, food and beverage, transportation and logistics, healthcare, and oil, gas, and chemicals. Since 2014, annual revenues have grown to more than $50 million from clients in the USA and abroad.

The Company currently addresses several billion-dollar markets, including the Global Safe City market, forecast to grow to $29 billion by 2022, and the Ticketless Safe Parking market, forecast to grow to $5.2 billion by 2023. For more information, visit www.omniq.com.

Information about Forward-Looking Statements 

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.

This release contains “forward-looking statements” that include information relating to future events and future financial and operating performance. The words “anticipate”, “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for the Company’s products particularly during the current health crisis, the introduction of new products, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, the Company’s ability to manage credit and debt structures from vendors, debt holders and secured lenders, the Company’s ability to successfully integrate its acquisitions, and other information that may be detailed from time-to-time in OMNIQ Corp.’s filings with the United States Securities and Exchange Commission. Examples of such forward looking statements in this release include, among others, statements regarding revenue growth, driving sales, operational and financial initiatives, cost reduction and profitability, and simplification of operations. For a more detailed description of the risk factors and uncertainties affecting OMNIQ Corp., please refer to the Company’s recent Securities and Exchange Commission filings, which are available at https://www.sec.gov. OMNIQ Corp. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by law.

Investor Contact:

James Carbonara
Hayden IR
(646)-755-7412
james@haydenir.com

Brett Maas
Hayden IR
(646) 536-7331
brett@haydenir.com

Categories
Blog

OMNIQ to Participate in Lake Street Capital Markets’ 5th Annual Best Ideas Growth (BIG5) Conference

SALT LAKE CITY, Sept. 08, 2021 (GLOBE NEWSWIRE) — omniQ Corp. (NADSAQ: OMQS) (“omniQ ” or “the Company”), a provider of object identification, automation and Artificial Intelligence (AI)-based solutions, to the Supply Chain Automation, Traffic Management, Public Safety, Public Health, retail and Safe City markets, announced today that management will participate in Lake Street Capital Markets’ 5th Annual Best Ideas Growth (BIG5) Conference on September 14, 2021.

To learn more about the event or to schedule a one-on-one meeting with management, please contact your conference representative or james@haydenir.com.

About omniQ Corp.
omniQ Corp. (NASDAQ: OMQS) provides computerized and machine vision image processing solutions that use patented and proprietary AI technology to deliver data collection, real-time surveillance and monitoring for supply chain management, homeland security, public safety, traffic & parking management, and access control applications. The technology and services provided by the Company help clients move people, assets, and data safely and securely through airports, warehouses, schools, national borders, and many other applications and environments.

omniQ’s customers include government agencies and leading Fortune 500 companies from several sectors, including manufacturing, retail, distribution, food and beverage, transportation and logistics, healthcare, and oil, gas, and chemicals. Since 2014, annual revenues have grown to more than $50 million from clients in the USA and abroad.

omniQ recently announced the closing of its acquisition of 51% of the capital stock of Dangot. omniQ has an option to purchase the remaining 49% of the capital stock. Dangot is an Israeli based leader in providing innovative technologies including: frictionless automated order processing & digital payment processing products for the retail, fast food and parking markets; integrated work stations for physicians, drug delivery and blood tests; robotics for smart warehouses; point of sales, self-check in management, and other state of the art solutions.

The Company currently addresses several billion-dollar markets, including the Global Safe City market, forecast to grow to $29 billion by 2022, and the Ticketless Safe Parking market, forecast to grow to $5.2 billion by 2023. For more information, visit www.omniq.com.

Information about Forward-Looking Statements

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.

This release contains “forward-looking statements” that include information relating to future events and future financial and operating performance. The words “anticipate”, “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for the Company’s products particularly during the current health crisis , the introduction of new products, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, the Company’s ability to manage credit and debt structures from vendors, debt holders and secured lenders, the Company’s ability to successfully integrate its acquisitions, and other information that may be detailed from time-to-time in omniQ Corp.’s filings with the United States Securities and Exchange Commission. Examples of such forward looking statements in this release include, among others, statements regarding revenue growth, driving sales, operational and financial initiatives, cost reduction and profitability, and simplification of operations. For a more detailed description of the risk factors and uncertainties affecting omniQ Corp., please refer to the Company’s recent Securities and Exchange Commission filings, which are available at https://www.sec.gov. omniQ Corp. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by law.

James Carbonara
Hayden IR
(646)-755-7412
james@haydenir.com

Brett Maas
Hayden IR
(646) 536-7331
brett@haydenir.com

Categories
Blog

OMNIQ to Begin Trading on NASDAQ

SALT LAKE CITY, Aug. 31, 2021 (GLOBE NEWSWIRE) — omniQ Corp.(NASDAQ: OMQS) (“omniQ ” or “the Company”), a provider of object identification, automation and Artificial Intelligence (AI)-based solutions, to the Supply Chain Automation, Traffic Management, Public Safety, Public Health, retail and Safe City markets, is pleased to announce that the Company’s common stock has been approved for listing on The Nasdaq Capital Market (the “Nasdaq”). Trading of OMNIQ’s shares on the Nasdaq is expected to begin at the market open on Thursday, September 2, 2021 under the symbol “OMQS”.

“Listing on The Nasdaq Capital Market marks another milestone in OMNIQ’s development, as we continue to grow our positive momentum as a powerhouse of AI, object identification and automation,” said Shai Lustgarten, CEO of OMNIQ. “We believe this Nasdaq listing will build long-term shareholder value through increased visibility and improved trading liquidity.”

About omniQ Corp.
omniQ Corp. (NASDAQ: OMQS) provides computerized and machine vision image processing solutions that use patented and proprietary AI technology to deliver data collection, real-time surveillance and monitoring for supply chain management, homeland security, public safety, traffic & parking management, and access control applications. The technology and services provided by the Company help clients move people, assets, and data safely and securely through airports, warehouses, schools, national borders, and many other applications and environments.

omniQ’s customers include government agencies and leading Fortune 500 companies from several sectors, including manufacturing, retail, distribution, food and beverage, transportation and logistics, healthcare, and oil, gas, and chemicals. Since 2014, annual revenues have grown to more than $50 million from clients in the USA and abroad.

omniQ recently announced the closing of its acquisition of 51% of the capital stock of Dangot. omniQ has an option to purchase the remaining 49% of the capital stock. Dangot is an Israeli based leader in providing innovative technologies including: frictionless automated order processing & digital payment processing products for the retail, fast food and parking markets; integrated work stations for physicians, drug delivery and blood tests; robotics for smart warehouses; point of sales, self-check in management, and other state of the art solutions.

The Company currently addresses several billion-dollar markets, including the Global Safe City market, forecast to grow to $29 billion by 2022, and the Ticketless Safe Parking market, forecast to grow to $5.2 billion by 2023. For more information, visit www.omniq.com.

Information about Forward-Looking Statements

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.

This release contains “forward-looking statements” that include information relating to future events and future financial and operating performance. The words “anticipate”, “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for the Company’s products particularly during the current health crisis , the introduction of new products, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, the Company’s ability to manage credit and debt structures from vendors, debt holders and secured lenders, the Company’s ability to successfully integrate its acquisitions, and other information that may be detailed from time-to-time in omniQ Corp.’s filings with the United States Securities and Exchange Commission. Examples of such forward looking statements in this release include, among others, statements regarding revenue growth, driving sales, operational and financial initiatives, cost reduction and profitability, and simplification of operations. For a more detailed description of the risk factors and uncertainties affecting omniQ Corp., please refer to the Company’s recent Securities and Exchange Commission filings, which are available at https://www.sec.gov. omniQ Corp. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by law.

James Carbonara
Hayden IR
(646)-755-7412
james@haydenir.com

Brett Maas
Hayden IR
(646) 536-7331
brett@haydenir.com

Categories
Uncategorized

OMNIQ Announces Record Six Months Revenue of $33M, a 24% Growth YoY and Second Quarter 3.5% Growth to $13.1M

  • Subsequent to quarter end, OMNIQ announced the closing of its 51% acquisition of technology leader, Dangot Computers Ltd (Dangot). Based on 2020 results creating a combined $91 Million Revenue provider of automation and object identification solutions, positioned to drive increased adoption of OMNIQ’s AI Based Offerings.
  • OMNIQ will start consolidating Dangot’s Financial Results beginning July 1, 2021.
  • Growth in Revenue of OMNIQ and Dangot in H1 2021 result in a $52.5 Million Dollar Consolidated Revenue of the combined Company – an annual run rate exceeding $100 Million a year.

SALT LAKE CITY, Aug. 12, 2021 (GLOBE NEWSWIRE) — OMNIQ Corp. (NASDAQ: OMQS) (“OMNIQ” or “the Company”), a provider of Supply Chain and Artificial Intelligence (AI)-based solutions, today announced its financial results for the three month period ended June 30, 2021.

Subsequent to quarter-end, OMNIQ announced the closing of its 51% acquisition of technology leader, Dangot Computers Ltd., creating a combined $91 Million Revenue provider of automation and object identification solutions, positioned to drive increased adoption of OMNIQ’s AI-Based Offerings

Dangot Six-Month Ended June 30, 2021

  • Six-month revenue of $19.5 million
  • Six-month gross margin 24%
  • Six-month net income before tax of $1.4 million
  • Six-month net income of $1 million
  • Aroma Espresso Bar (Aroma), the largest coffee chain in Israel with branches in the US, Canada and other countries, has chosen Dangot to provide its self-service kiosks. According to a Forbes article titled “Self-Order Kiosks Are Finally Having A Moment In The Fast Food Space”, written by Alicia Kelso (1) , it is predicted that the self-service kiosk market will reach $30.8 billion by 2024.

Pro Forma (OMNIQ and Dangot Combined) Six-Month Ended June 30, 2021

  • Six-month revenue of $ 52.5
  • Six-month gross margin 20%

OMNIQ (Stand-Alone) Q2 2021 and recent highlights include:

  • Q2 sales of $13.1 million increased 3.5% YoY; 1H sales of $33 million increased 24% YoY
  • Q2 Revenue [Sales Orders] from Artificial Intelligence (AI) Based Technology grew ~100% compared to Q1 2021
  • Received an approximately $1.1 million purchase agreement from a leading global specialty apparel retailer, which generates over $3 billion in annual revenue.
  • Secured purchase orders with a total value of approximately $1.5 million from a leading freight transportation and logistics company
  • AI-based machine vision solution, Q Shield™, selected by largest seaport in Israel with annual cargo tonnage of more than 20 million tons
  • AI Based cloud software, PERCS™, selected by multibillion dollar medical center for campus parking management

Shai Lustgarten, CEO of OMNIQ, “Our strong momentum in 2021 continued during the second quarter, and into Q3. In fact, just last month we announced the closing of our 51% acquisition of Dangot, based on Pro Forma 2021 half-year results the combined consolidated revenue exceeds $52 million representing an annual run rate of over $100 million. We have become a powerhouse of AI, object identification, and automation that is well placed to drive growth and stronger financial results. The first steps in combining technologies and efforts with Dangot look very promising and we hope to benefit from these efforts very soon. Also, we expect pro forma financials, combined with Dangot, will help us achieve our goal of uplisting to a major stock exchange. Additionally, Dangot launches OMQNIQ into the self-service kiosk market, which is estimated to reach $30.8 billion by 2024.”

“We also recorded strong results on an organic basis” said Shai Lustgarten, CEO of OMNIQ. “Six months revenue reached $33 million, up 24% year over year, and AI-based revenue in Q2 2021 increased ~100% from Q1 2021. We also improved our margins, returning to 25% margins in Q2 2021, and subsequent to the end of the quarter we improved our financial strength with a record in cash position. Looking ahead, we are focused on continuing to add new AI-based projects, book repeat supply chain sales, in higher volumes, from our Fortune 500 customers, and cross-sell AI-based solutions to our supply chain customers, and now to Dangot customers. We expect growth to continue.”

Second Quarter 2021 Financial Results
OMNIQ reported revenue of $13.1 million for the quarter ended June 30, 2021, an increase of 3.5% from $12.7 million in the second quarter of 2020. The revenue increase reflects higher demand from certain customers during the quarter as well as continued traction in our markets. Total operating expenses for the quarter were $5.1 million, compared with $3.9 million in the second quarter of 2020.

Net loss for the quarter was $2.5 million, or a loss of $.53 per basic share, compared with a loss of $1.9 million, or a loss of $.49 per basic share, for the second quarter of last year.

Adjusted EBITDA (adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization) for the second quarter of 2021 amounted to a loss of $437 thousand compared with an adjusted EBITDA loss of $551 thousand in the second quarter of 2020.

The cash balance on June 30, 2021, was $5.4 million compared with $4.6 million on December 31, 2020. The balance on June 30, 2021, does not include net proceeds of $13.8 million from a securities purchase agreement that closed in July 2021.

Financial tables follow.

OMNIQ CORP.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

            
 For the three months  For the six months 
 ending June 30,  ending June 30, 
(In thousands, except share and per share data)2021  2020  2021  2020 
Revenues               
Total Revenues$13,119  $12,677  $32,870  $26,476 
                
Cost of goods sold               
Cost of goods sold 9,820   10,099   26,936   20,862 
                
Gross profit 3,299   2,578   5,934   5,614 
                
Operating expenses               
Research & Development 468   447   962   832 
Selling, general and administrative 4,109   2,892   8,547   7,031 
Depreciation 42   43   85   90 
Amortization 522   510   1047   1,011 
Total operating expenses 5,141   3,892   10,641   8,964 
                
Loss from operations (1,842)  (1,314)  (4,707)  (3,350)
                
Other income (expenses):               
Interest expense (714)  (418)  (1,304)  (1,213)
Other (expenses) income 49   (260)  160   (302)
Total other expenses (666)  (678)  (1,144)  (1,515)
                
Net Loss Before Income Taxes (2,507)  (1,992)  (5,850)  (4,865)
                
Provision for Income Taxes           
Current             
Total Provision for Income Taxes (3)     (3)   
                
Net Loss attributable to OMNIQ Corp.$(2,510) $(1,992) $(5,853) $(4,865)
                
Foreign currency translation adjustment (71)  3   (132)  (14)
                
Comprehensive loss (2,581)  (1,989)  (5,985)  (4,879)
                
Reconciliation of net loss to net loss attributable to common shareholders               
Net loss (2,510)  (1,992)  (5,853)  (4,865)
                
Less: Preferred stock – Series C dividend (25)  (54)  (57)  (126)
                
Net loss attributable to the common stockholders$(2,535) $(2,046) $(5,910) $(4,991)
                
Net (loss) per share – basic$(0.53) $(0.49) $(1.24) $(1.21)
                
Weighted average number of common shares outstanding – basic 4,930,149   4,141,061   4,816,718   4,135,420 
                

OMNIQ Corp.
RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES

  Six months ended 
(In thousands) June 30, 
Adjusted EBITDA Calculation 2021  2020 
       
Net loss (5,853)  (4,865) 
Depreciation & amortization 1,131  1,101 
Interest expense 1,304  1,213 
Income taxes 3   
Stock compensation 1,949  1,429 
Nonrecurring loss events (160)  302 
Adjusted EBITDA (1,626)  (820) 
       
Total revenues, net 32,870  26,476 
       
Adjusted EBITDA as a % of total revenues, net (4.95)% (3.10)%
       

Conference Call Information

To participate in this event, dial approximately 5 to 10 minutes before the beginning of the call.
Date, Time: August 6, 2021, at 11:00 am ET
Toll-Free: 877-407-9210
International: 201-689-8049
Live Webcast: https://www.webcaster4.com/Webcast/Page/2310/42363

Conference Call Replay Information

Toll-Free: 877-481-4010
Reference ID: 41133

Replay Webcast: https://www.webcaster4.com/Webcast/Page/2310/42363

About OMNIQ Corp.
OMNIQ Corp. (NASDAQ: OMQS) provides computerized and machine vision image processing solutions that use patented and proprietary AI technology to deliver data collection, real-time surveillance, and monitoring for supply chain management, homeland security, public safety, traffic & parking management, and access control applications. The technology and services provided by the Company help clients move people, assets, and data safely and securely through airports, warehouses, schools, national borders, and many other applications and environments.

OMNIQ’s customers include government agencies and leading Fortune 500 companies from several sectors, including manufacturing, retail, distribution, food and beverage, transportation and logistics, healthcare, and oil, gas, and chemicals. Since 2014, annual revenues have grown to more than $50 million from clients in the USA and abroad.

The Company currently addresses several billion-dollar markets, including the Global Safe City market, forecast to grow to $29 billion by 2022, and the Ticketless Safe Parking market, forecast to grow to $5.2 billion by 2023. For more information, visit www.omniq.com.

Information about Forward-Looking Statements

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.

This release contains “forward-looking statements” that include information relating to future events and future financial and operating performance. The words “anticipate”, “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for the Company’s products particularly during the current health crisis, the introduction of new products, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, the Company’s ability to manage credit and debt structures from vendors, debt holders and secured lenders, the Company’s ability to successfully integrate its acquisitions, and other information that may be detailed from time-to-time in OMNIQ Corp.’s filings with the United States Securities and Exchange Commission. Examples of such forward-looking statements in this release include, among others, statements regarding revenue growth, driving sales, operational and financial initiatives, cost reduction and profitability, and simplification of operations. For a more detailed description of the risk factors and uncertainties affecting OMNIQ Corp., please refer to the Company’s recent Securities and Exchange Commission filings, which are available at https://www.sec.gov. OMNIQ Corp. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise unless otherwise required by law.

Investor Contact:

James Carbonara
Hayden IR
(646)-755-7412
james@haydenir.com

Brett Maas
Hayden IR
(646) 536-7331
brett@haydenir.com

Categories
Blog

OMNIQ’s AI Systems to be deployed at the Border Check Point between Israel & Jordan

  • omniQ’s AI Vehicle Recognition technology identifies vehicles and enable proactive smart decisions
  • omniQ’s AI Homeland Security solutions are already deployed in foreign Ministry of Defense Head Quarters, foreign military bases, in sensitive zones in the Middle East and in Eastern Asia.
  • omniQ’s AI uses patented Neural Network algorithms that imitate the human brain for pattern recognition enabling smart and quick decision-making.
  • Order follows recent winnings at The Cypress College in California, Israel’s largest seaport, Georgia State University, the City of Watkinsville, Georgia, Philadelphia International Airport and at the Campus of a Multibillion-dollar Medical Center.

SALT LAKE CITY, Aug. 11, 2021 (GLOBE NEWSWIRE) — OMNIQ Corp. (NASDAQ: OMQS) (“OMNIQ” or “the Company”), a provider of Artificial Intelligence (AI) and IoT – based solutions, announced today it has received an order to deploy its AI-based machine vision solution at the border checkpoint between Israel and Jordan.

OMNIQ’s AI-based machine vision VRS solution uses patented Neural Network algorithms that imitate human brains for pattern recognition enabling smart and quick decision-making. More than 17,000 OMNIQ AI-based machine vision sensors are installed worldwide, including approximately 7,000 in the U.S. Q Shield™ is founded on patented features like identification of make and color combined with superior accuracy based on sophisticated algorithm and machine learning.

“This order to deploy our AI technology in a sensitive spot between Israel and Jordan is an additional vote of confidence from one of the most demanding authorities in the world. This passage, which opened after signing the peace agreement between Israel and Jordan in 1994, is the main passage point between Israel and Jordan. The momentum in the market acceptance for our AI based solution continues with our recent winnings for Homeland Security, Parking and Smart Campus management projects,” said Shai Lustgarten, CEO of OMNIQ. “This reassurance of the quality and innovation of our solution follows a recent stream of awards to deploy our AI solutions at the Cypress College in California, the Georgia State University, in the City of Watkinsville, Georgia, in the Philadelphia International Airport and in a Multibillion dollar Medical Center. Our recent acquisition of Dangot Computers adds capabilities to the omniQ offering. Such that expands our solutions further and serves our existing and new customers better. Dangot Computers is a pioneer in bringing automation to Enterprise’s operations, restaurants, hospitals, logistic centers and retailers. Recently, we announced the winning of a purchase order for self ordering kiosks for the largest Coffee Chain in Israel with a few branches in North America. Forbes magazine projects that the Self Ordering market can reach $30.8B by 20241.”

(1) https://www.forbes.com/sites/aliciakelso/2019/07/30/self-order-kiosks-are-finally-having-a-moment-in-the-fast-food-space/?sh=647558514275

About OMNIQ Corp.
OMNIQ Corp. (NASDAQ: OMQS) provides computerized and machine vision image processing solutions that use patented and proprietary AI technology to deliver data collection, real-time surveillance and monitoring for supply chain management, homeland security, public safety, traffic & parking management and access control applications. The technology and services provided by the Company help clients move people, assets and data safely and securely through airports, warehouses, schools, national borders, and many other applications and environments.

OMNIQ’s customers include government agencies and leading Fortune 500 companies from several sectors, including manufacturing, retail, distribution, food and beverage, transportation and logistics, healthcare, and oil, gas, and chemicals. Since 2014, annual revenues have grown to more than $50 million from clients in the USA and abroad.

The Company currently addresses several billion-dollar markets, including the Global Safe City market, forecast to grow to $29 billion by 2022, and the Ticketless Safe Parking market, forecast to grow to $5.2 billion by 2023. For more information, visit www.omniq.com.

Information about Forward-Looking Statements

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.

This release contains “forward-looking statements” that include information relating to future events and future financial and operating performance. The words “anticipate”, “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for the Company’s products particularly during the current health crisis, the introduction of new products, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, the Company’s ability to manage credit and debt structures from vendors, debt holders and secured lenders, the Company’s ability to successfully integrate its acquisitions, and other information that may be detailed from time-to-time in OMNIQ Corp.’s filings with the United States Securities and Exchange Commission. Examples of such forward looking statements in this release include, among others, statements regarding revenue growth, driving sales, operational and financial initiatives, cost reduction and profitability, and simplification of operations. For a more detailed description of the risk factors and uncertainties affecting OMNIQ Corp., please refer to the Company’s recent Securities and Exchange Commission filings, which are available at https://www.sec.gov. OMNIQ Corp. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by law.

Investor Contacts:

James Carbonara
Hayden IR
(646)-755-7412
james@haydenir.com

Brett Maas
Hayden IR
(646) 536-7331
brett@haydenir.com

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Blog

Aroma Espresso Bar, the Largest Coffee Chain in Israel with branches in the US and Canada, has Chosen Dangot (omniQ’s subsidiary) to Provide its Self-Service Kiosks – a Market Expected to Reach $30.8 Billion by 2024

SALT LAKE CITY, Aug. 03, 2021 (GLOBE NEWSWIRE) — omniQCorp.(NASDAQ: OMQS) (“omniQ ” or “the Company”), an object identification company providing Artificial Intelligence (AI)-based technology solutions to the Supply Chain Automation, Traffic Management, Public Safety and Safe City markets, and majority owner of Dangot, announced today that Aroma Espresso Bar (Aroma), the largest coffee chain in Israel with branches in the US, Canada and other countries, has chosen Dangot to provide its self-service kiosks. According to a Forbes article titled “Self-Order Kiosks Are Finally Having A Moment In The Fast Food Space”, written by Alicia Kelso (1), it is predicted that the self-service kiosk market will reach $30.8 billion by 2024.

Aroma is an Israeli espresso and coffee chain with 200 branches around the country, in the United States, Canada, and in Europe.

By the end of 2021, approx. 120 Dangot’s Self Ordering kiosks will be installed in Aroma Israeli branches, with the expectation to install 250 of the Kiosks in total, by the end of 2022.

Dangot’s self-order kiosks are integrated with advanced computing as well as EMV smart payment systems. EMV— developed and managed by American Express, Discover, JCB, Mastercard, UnionPay, and Visa — is a global standard for credit cards that uses computer chips to authenticate (and secure) chip-card transactions. The DORIX software house incorporates smart software at the kiosks that enhances the customer experience and enables fast ordering.

Shai Lustgarten, CEO of OMNIQ commented, “We’re thrilled to be working with Aroma. Dangot’s innovative product offerings continued to be adopted in its home market of Israel, and are also a fit for OMNIQ’s target markets. We look forward to leveraging Dangot’s success globally, and leveraging our strong sales team to penetrate the US market, and capture more and more of the anticipated $30 billion smart kiosk market.”

Haim Dangot, President of Dangot Computers Ltd, commented: ”Dangot’s self-order kiosk business has seen considerable growth over the past 2 years. As a result of Covid-19 restrictions, forcing more and more food chains and hospitality venues to adopt self-order solutions to accommodate their customers and shift more orders to be automated, also resulting in better up sales through automated orders and the ability to reduce cashiers and waiting staff. “

About omniQ Corp. 
omniQ Corp. (NASDAQ: OMQS) provides computerized and machine vision image processing solutions that use patented and proprietary AI technology to deliver data collection, real-time surveillance and monitoring for supply chain management, homeland security, public safety, traffic & parking management, and access control applications. The technology and services provided by the Company help clients move people, assets, and data safely and securely through airports, warehouses, schools, national borders, and many other applications and environments.

omniQ‘s customers include government agencies and leading Fortune 500 companies from several sectors, including manufacturing, retail, distribution, food and beverage, transportation and logistics, healthcare, and oil, gas, and chemicals. Since 2014, annual revenues have grown to more than $50 million from clients in the USA and abroad.

omniQ recently announced the closing of its acquisition of 51% of the capital stock of Dangot. omniQ has an option to purchase the remaining 49% of the capital stock. Dangot is an Israeli based leader in providing innovative technologies including: frictionless automated order processing & digital payment processing products for the retail, fast food and parking markets; integrated work stations for physicians, drug delivery and blood tests; robotics for smart warehouses; point of sales, self-check in management, and other state of the art solutions.

The Company currently addresses several billion-dollar markets, including the Global Safe City market, forecast to grow to $29 billion by 2022, and the Ticketless Safe Parking market, forecast to grow to $5.2 billion by 2023. For more information, visit www.omniq.com.

Information about Forward-Looking Statements

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.

This release contains “forward-looking statements” that include information relating to future events and future financial and operating performance. The words “anticipate”, “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for the Company’s products particularly during the current health crisis , the introduction of new products, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, the Company’s ability to manage credit and debt structures from vendors, debt holders and secured lenders, the Company’s ability to successfully integrate its acquisitions, and other information that may be detailed from time-to-time in omniQ Corp.’s filings with the United States Securities and Exchange Commission. Examples of such forward looking statements in this release include, among others, statements regarding revenue growth, driving sales, operational and financial initiatives, cost reduction and profitability, and simplification of operations. For a more detailed description of the risk factors and uncertainties affecting omniQ Corp., please refer to the Company’s recent Securities and Exchange Commission filings, which are available at https://www.sec.gov. omniQ Corp. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by law.

James Carbonara 
Hayden IR 
(646)-755-7412 
james@haydenir.com

Brett Maas 
Hayden IR 
(646) 536-7331 
brett@haydenir.com

Categories
Blog

Aroma Espresso Bar, the Largest Coffee Chain in Israel with branches in the US and Canada, has Chosen Dangot (omniQ’s subsidiary) to Provide its Self-Service Kiosks – a Market Expected to Reach $30.8 Billion by 2024

SALT LAKE CITY, Aug. 03, 2021 (GLOBE NEWSWIRE) — omniQCorp.(NASDAQ: OMQS) (“omniQ ” or “the Company”), an object identification company providing Artificial Intelligence (AI)-based technology solutions to the Supply Chain Automation, Traffic Management, Public Safety and Safe City markets, and majority owner of Dangot, announced today that Aroma Espresso Bar (Aroma), the largest coffee chain in Israel with branches in the US, Canada and other countries, has chosen Dangot to provide its self-service kiosks. According to a Forbes article titled “Self-Order Kiosks Are Finally Having A Moment In The Fast Food Space”, written by Alicia Kelso (1), it is predicted that the self-service kiosk market will reach $30.8 billion by 2024.

Aroma is an Israeli espresso and coffee chain with 200 branches around the country, in the United States, Canada, and in Europe.

By the end of 2021, approx. 120 Dangot’s Self Ordering kiosks will be installed in Aroma Israeli branches, with the expectation to install 250 of the Kiosks in total, by the end of 2022.

Dangot’s self-order kiosks are integrated with advanced computing as well as EMV smart payment systems. EMV— developed and managed by American Express, Discover, JCB, Mastercard, UnionPay, and Visa — is a global standard for credit cards that uses computer chips to authenticate (and secure) chip-card transactions. The DORIX software house incorporates smart software at the kiosks that enhances the customer experience and enables fast ordering.

Shai Lustgarten, CEO of OMNIQ commented, “We’re thrilled to be working with Aroma. Dangot’s innovative product offerings continued to be adopted in its home market of Israel, and are also a fit for OMNIQ’s target markets. We look forward to leveraging Dangot’s success globally, and leveraging our strong sales team to penetrate the US market, and capture more and more of the anticipated $30 billion smart kiosk market.”

Haim Dangot, President of Dangot Computers Ltd, commented: ”Dangot’s self-order kiosk business has seen considerable growth over the past 2 years. As a result of Covid-19 restrictions, forcing more and more food chains and hospitality venues to adopt self-order solutions to accommodate their customers and shift more orders to be automated, also resulting in better up sales through automated orders and the ability to reduce cashiers and waiting staff. “

About omniQ Corp. 
omniQ Corp. (NASDAQ: OMQS) provides computerized and machine vision image processing solutions that use patented and proprietary AI technology to deliver data collection, real-time surveillance and monitoring for supply chain management, homeland security, public safety, traffic & parking management, and access control applications. The technology and services provided by the Company help clients move people, assets, and data safely and securely through airports, warehouses, schools, national borders, and many other applications and environments.

omniQ‘s customers include government agencies and leading Fortune 500 companies from several sectors, including manufacturing, retail, distribution, food and beverage, transportation and logistics, healthcare, and oil, gas, and chemicals. Since 2014, annual revenues have grown to more than $50 million from clients in the USA and abroad.

omniQ recently announced the closing of its acquisition of 51% of the capital stock of Dangot. omniQ has an option to purchase the remaining 49% of the capital stock. Dangot is an Israeli based leader in providing innovative technologies including: frictionless automated order processing & digital payment processing products for the retail, fast food and parking markets; integrated work stations for physicians, drug delivery and blood tests; robotics for smart warehouses; point of sales, self-check in management, and other state of the art solutions.

The Company currently addresses several billion-dollar markets, including the Global Safe City market, forecast to grow to $29 billion by 2022, and the Ticketless Safe Parking market, forecast to grow to $5.2 billion by 2023. For more information, visit www.omniq.com.

Information about Forward-Looking Statements

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.

This release contains “forward-looking statements” that include information relating to future events and future financial and operating performance. The words “anticipate”, “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for the Company’s products particularly during the current health crisis , the introduction of new products, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, the Company’s ability to manage credit and debt structures from vendors, debt holders and secured lenders, the Company’s ability to successfully integrate its acquisitions, and other information that may be detailed from time-to-time in omniQ Corp.’s filings with the United States Securities and Exchange Commission. Examples of such forward looking statements in this release include, among others, statements regarding revenue growth, driving sales, operational and financial initiatives, cost reduction and profitability, and simplification of operations. For a more detailed description of the risk factors and uncertainties affecting omniQ Corp., please refer to the Company’s recent Securities and Exchange Commission filings, which are available at https://www.sec.gov. omniQ Corp. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by law.

James Carbonara 
Hayden IR 
(646)-755-7412 
james@haydenir.com

Brett Maas 
Hayden IR 
(646) 536-7331 
brett@haydenir.com

Categories
Blog

omniQ Receives Contract to Deploy AI Based Technology at Philadelphia International Airport

  • omniQ’s AI Based EZ Edge™ VRS (Vehicle Recognition System) automates and monitors entry and exits of vehicles to regulate and facilitate ride share traffic and ease congestion.
  • EZ Edge™ will be deployed at Philadelphia International Airport for machine vision monitoring of Lanes for Transportation Network Companies (TNC) including Uber, Lyft and, Taxis, to help manage entrance to the TNC lot.
  • EZ Edge™ operates on edge-based processing using our proprietary deep learning convolutional neural network engine and is enhanced with omniQ’s virtual loop technology for easy installation.
  • omniQ’s AI based solutions are already deployed in over three dozen Airports in the United States including New York JFK, New York LaGuardia, Newark, Miami, Los Angeles, Dallas-Fort Worth and others.
  • Contract follows recently announced new purchase agreements to deploy omniQ’s AI Based solutions at Georgia State University and in a Multi-Billion Dollar Medical Center.

SALT LAKE CITY, June 08, 2021 (GLOBE NEWSWIRE) — omniQ Corp (NASDAQ: OMQS) (“OMNIQ” or “the Company”), a provider of Artificial Intelligence (AI) and IoT-based solutions, announced today that it has received a contract at Philadelphia International Airport, to deploy its AI Based, EZ Edge™ VRS Deployment Kit which automates and monitors entry and exits of vehicles at the TNC Lane. EZ Edge™ operates on edge-based processing using our deep learning convolutional neural network engine along with our latest virtual loop technology.

EZ Edge™ will be deployed at Philadelphia International Airport’s TNC Lane for transportation network companies including Uber, Lyft and taxis, to help manage entrance to the TNC lot.

Through a unique third party integration with omniQ, EZ Edge™ enables tracking of TNC vehicles on airport property as geofencing technology identifies the TNC vehicle and sends data, including the license plate number, on the approaching vehicle to omniQ. Third party partners incorporate reporting and payment portals to correctly charge the TNC vehicles.

Upon EZ Edge™ detection & identification of the vehicle as it approaches the TNC holding lot, EZ Edge™ vends the gate and allows the driver to enter. omniQ Virtual Loop Technology is configured so that there are no physical ground loops needed to be cut into the pavement simplifying the installation and costs. The solution is AI Machine Vision based, and virtually detects objects and identifies the vehicles. The solution further assists in curb management, congestion, wait times, access control and correct billing for using the airport for pick-up and drop-off.

omniQ’s CEO, Shai Lustgarten stated, “Our AI based solution is proven to be effective in improving safety, traffic flow, parking management and law enforcement for Airports, Educational Campuses, Hospitals, Cities and Homeland Security Authorities. Our proprietary patented technology based on deep learning Neural Network models is our main marketing advantage. Following the recently announced new contracts with Georgia State University and the Medical Center, we are pleased to be working with our partners at the Philadelphia International Airport (PHL) which serves more than 30 million passengers annually. PHL customers are eager to enter and exit the airport, often via TNC vehicles. EZ Edge™ AI-based technology enables more effective monitoring, security and management of the TNC lane, eases congestion and helps the airport, TNC drivers and passengers save time and money.”

“This is a new application for our AI based Vehicle Recognition technology and adds to our AI based machine vision leadership in airports joining many others like ATL, LAX, DFW, JFK, EWR, FLL and DTW that have experienced the incredible benefits in accuracy, speed and reliability of our solutions,” concluded Mr. Lustgarten.

About OMNIQ Corp.
OMNIQ Corp. (NASDAQ: OMQS) provides computerized and machine vision image processing solutions that use patented and proprietary AI technology to deliver data collection, real-time surveillance and monitoring for supply chain management, homeland security, public safety, traffic & parking management and access control applications. The technology and services provided by the Company help clients move people, assets and data safely and securely through airports, warehouses, schools, national borders, and many other applications and environments.

OMNIQ’s customers include government agencies and leading Fortune 500 companies from several sectors, including manufacturing, retail, distribution, food and beverage, transportation and logistics, healthcare, and oil, gas, and chemicals. Since 2014, annual revenues have grown to more than $50 million from clients in the USA and abroad.

The Company currently addresses several billion-dollar markets, including the Global Safe City market, forecast to grow to $29 billion by 2022, and the Ticketless Safe Parking market, forecast to grow to $5.2 billion by 2023. For more information, visit www.omniq.com.

Information about Forward-Looking Statements

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.

This release contains “forward-looking statements” that include information relating to future events and future financial and operating performance. The words “anticipate”, “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for the Company’s products particularly during the current health crisis , the introduction of new products, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, the Company’s ability to manage credit and debt structures from vendors, debt holders and secured lenders, the Company’s ability to successfully integrate its acquisitions, and other information that may be detailed from time-to-time in OMNIQ Corp.’s filings with the United States Securities and Exchange Commission. Examples of such forward looking statements in this release include, among others, statements regarding revenue growth, driving sales, operational and financial initiatives, cost reduction and profitability, and simplification of operations. For a more detailed description of the risk factors and uncertainties affecting OMNIQ Corp., please refer to the Company’s recent Securities and Exchange Commission filings, which are available at https://www.sec.gov. OMNIQ Corp. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by law.

Investor Contacts:

James Carbonara
Hayden IR
(646)-755-7412
james@haydenir.com

Brett Maas
Hayden IR
(646) 536-7331
brett@haydenir.com