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30/11/2020
OMNIQ to Present on its Contactless AI-based Machine Vision and IoT Technology Solutions at the MoneyShow Accredited Investors Virtual Expo on Thursday, December 3, at 10:35 AM ET

Company’s touchless solutions for the Smart City and supply chain markets are receiving broadened traction across many industries, including healthcare, retail, transportation and logistics, and parking management, as organizations focus on productivity, health, and safety.

 

SALT LAKE CITY, Nov. 30, 2020 (GLOBE NEWSWIRE) — OMNIQ Corp. (OTCQB: OMQS) (“OMNIQ” or “the Company”), a provider of Supply Chain and Artificial Intelligence (AI)-based solutions, today announced that the Company will present at the MoneyShow Accredited Investors Virtual Expo being held December 1-3, 2020. Shai Lustgarten, CEO of OMNIQ, will provide an overview of the Company’s strategy, products, target markets, and recent financial performance, including its 21% year-over-year revenue growth in the third quarter of 2020.

 
Event: MoneyShow Accredited Investors Virtual Expo

Presentation Date: Thursday, December 3, 2020

Presentation Time: 10:35 AM ET

 

To listen to the live webcast, investors will need to register for the MoneyShow Accredited Investors Virtual Expo first at the following link: https://online.moneyshow.com/2020/december/accredited-virtual-expo/registration/

 

Once registered, investors can access the MoneyShow Accredited Investors Virtual Expo platform on December 3rdhttps://online.moneyshow.com/2020/december/accredited-virtual-expo/platform/login/

 

About MoneyShow
For 40 years, MoneyShow has maintained market dominance in connecting investors and traders with world-class financial experts and leading financial service companies. The very basis for MoneyShow’s existence is to deliver this targeted audience truly elite-caliber advice, actionable tips, ideas, techniques, and strategies from hundreds of knowledgeable, experienced financial experts.

 

About OMNIQ Corp.
OMNIQ Corp. (OTCQB: 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

24/11/2020
OMNIQ’s AI-Based SeeControl™ Vehicle Recognition Systems (VRS) Software Receives Certification for PlateTech 5.x and Higher Versions of SKIDATA Parking Solutions
  • SKIDATA has over 10,000 installations that provide secure and reliable access and entry control for people and vehicles
  • The certification enables integration of OMNIQ’s neural-network-based VRS solutions into the SKIDATA PARCS platform

SALT LAKE CITY, Nov. 24, 2020 (GLOBE NEWSWIRE) — OMNIQ Corp. (OTCQB: OMQS) (“OMNIQ” or “the Company”), a provider of Supply Chain and Artificial Intelligence (AI)-based solutions, today announced that the Company’s machine vision application software for vehicle recognition (VRS) and license plate recognition (LPR) has been certified to work with SKIDATA’s PlateTech.Logic LPR application programming interface (version 5.x and higher). The certification allows OMNIQ’s VRS and LPR hardware and software to be integrated into SKIDATA parking and revenue control solutions (PARCS) that use the PlateTech.Logic LPR platform.

 

Headquartered in Austria, SKIDATA AG is a global leader in developing and providing technology for access control and visitor management solutions. It has over 10,000 systems installed in major airports, cities, ski resorts, shopping centers, sport stadiums, amusement parks, trade fairs and events, allowing fast and secure access for people and vehicles. SKIDATA’s parking solution provides technology for smart, automated, stress-free and more profitable parking operations. The complete solution offers standard as well as customer-specific access systems, control and monitoring, report management, and other features.

 

OMNIQ’s SeeControl™️ vehicle recognition solution, powered by OMNIQ’s proprietary AI-based, deep-learning neural network algorithm (“SeeNN™️”), has been certified for PlateTech.Logic, SKIDATA’s LPR software platform. SeeNN algorithms imitate the human brain in pattern recognition and decision-making, and are capable of the highest level of performance for machine data detection analytics. With this certification, SeeControl VRS software, which transforms vehicle and license plate data into valuable real-time information for quick and effective decision-making, alerts and activity reporting, can now be further integrated into the latest versions of SKIDATA’s PARCS solution.

 

“We are proud to have our VRS software application certified for SKIDATA’s LPR platform,” said Shai Lustgarten, CEO of OMNIQ. “This enables us to integrate our hardware and software offerings into SKIDATA’s parking solution. Over the years, we have already established a mutually beneficial partnership with SKIDATA in implementing PARCS with LPR solutions at Dallas Fort Worth, Sacramento, Dallas Love Field, New Orleans and Detroit airports, among others, and we are very pleased to continue our collaboration for future projects.”

 

About OMNIQ Corp.
OMNIQ Corp. (OTCQB: 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

12/11/2020
OMNIQ Corp. Reports Strong Sales of $15.8 Million for Third Quarter of 2020, up 21% Year over Year
  • 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. (OTCQB: 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 traffic management, 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. (OTCQB: 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 months For the nine months
ending September 30, ending September 30,
(In thousands, except share and per share data) 2020 2019 2020 2019
Revenues
Total Revenues $ 15,833 $ 13,097 $ 42,309 $ 45,843
Cost of goods sold
Cost of goods sold 13,024 9,601 33,886 34,123
Gross profit 2,809 3,496 8,423 11,720
Operating expenses
General and administrative 837 727 2,414 1,941
Salary and employee benefits 2,581 2,700 7,666 7,763
Depreciation and amortization 594 536 1,696 1,620
Professional fees 1,818 268 3,018 1,226
Total operating expenses 5,830 4,231 14,794 12,550
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 – basic 4,588,944 3,879,159 4,339,634 3,865,647

OMNIQ CORP.
CONDENSED CONSOLIDATED BALANCE SHEETS
(UNAUDITED)

As of
September 30, 2020 December 31, 2019
(In thousands, except share and per share data)
ASSETS
Current assets
Cash and cash equivalents $ 5,066 $ 1,615
Accounts receivable, net 9,901 6,694
Inventory 1,671 1,889
Prepaid expenses 782 362
Other current assets 9 65
Total current assets 17,429 10,625
Property and equipment, net of accumulated depreciation of $555 and $2,195, respectively 332 463
Goodwill 14,695 13,921
Trade name, net of accumulated amortization of $1,156 and $2,932, respectively 1,156 1,458
Customer relationships, net of accumulated amortization of $4,885 and $6,578, respectively 4,885 6,012
Other intangibles, net of accumulated amortization of $1,104 and $185, respectively 1,104 1,138
Cash, restricted 533 533
Right of use lease asset 91 131
Other assets 106 172
Total assets $ 40,331 $ 34,453
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Accounts payable and accrued liabilities $ 28,480 $ 18,694
Line of credit 3,235 1,365
Accrued payroll and sales tax 1,542 1,556
Notes payable, related parties – current portion 480 1,025
Notes payable – current portion 6,997 6,497
Lease liability – current portion 38 54
Other current liabilities 1,267 1,599
Total current liabilities 42,039 30,790
Long term liabilities
Notes payable, related party, less current portion 774 1,172
Accrued interest and accrued liabilities, related party 50 76
Notes payable, less current portion 352 143
Lease liability 57 80
Other long term liabilities 220 384
Total liabilities 43,492 32,645
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, respectively 2 5
Common stock; $0.001 par value; 15,000,000 shares authorized; 4,634,637 and 3,960,405 shares issued and outstanding, respectively. 5 4
Additional paid-in capital 50,710 46,861
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 months For the nine months
ending September 30, ending September 30,
(In thousands, except share and per share data) 2020 2019 2020 2019
EBITDA Calculation
Net loss $ (3,781) $ (1,443) $ (8,646) $ (2,608)
Depreciation & amortization 594 536 1,696 1,620
Interest expense 744 618 1,957 1,769
Income taxes
EBITDA $ (2,443) $ (289) $ (4,993) $ 781
Adjusted EBITDA calculation
Net loss $ (3,781) $ (1,443) $ (8,646) $ (2,608)
Depreciation & amortization 594 536 1,696 1,620
Interest expense 744 618 1,957 1,769
Income taxes
Stock compensation 1,522 670 2,275 1,093
Non-cash penalty on conversion agreements 260
Nonrecurring one-time income/expenses 16 117 169 180
Adjusted EBITDA $ (905) $ 498 $ (2,289) $ 2,054

 

09/11/2020
OMNIQ Corp. to Host Third Quarter Conference Call on Friday, November 13, 2020, at 11:00 AM ET

SALT LAKE CITY, Nov. 09, 2020 (GLOBE NEWSWIRE) — OMNIQ Corp. (OTCQB: OMQS) (“OMNIQ” or “the Company”), a provider of Supply Chain and Artificial Intelligence (AI)-based solutions, today announced that it 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.

02/11/2020
OMNIQ Receives Additional Orders Totaling $1.0 Million From Leading U.S. Supermarket Chain for “Touchless” Real-time Data Collection and Analysis

OMNIQ’s “contactless” supply chain solutions receiving broadened traction across many industries as organizations focus on productivity, health and safety

 

SALT LAKE CITY, Nov. 02, 2020 (GLOBE NEWSWIRE) — OMNIQ Corp. (OTCQB: OMQS) (“OMNIQ” or “the Company”), a provider of Supply Chain and Artificial Intelligence (AI)-based solutions, today announced that it has received purchase orders with a total value of approximately $1.0 million from one of the largest U.S. supermarket chains for the supply of mobile data collection, computing and communications equipment. The purchase follows the customer’s orders totaling $5.5 million for similar equipment in June 2020.

 

OMNIQ’s suite of supply chain mobility solutions, which includes rugged handheld mobile computers and barcode printers with fast and dependable wireless connection, enable quick and accurate data collection, tracking and processing for critical supermarket functions, such as shipping and receiving and inventory and warehouse management. These industrial-designed devices provide a more “contactless” approach to the customer’s retail and logistics operations, and will be integrated with the corporate logistics system.

 

“We are very pleased to continue to partner with a Fortune 500 company, one of the largest retail companies in the U.S., by providing technology and hardware to support its supply chain operations,” said Shai Lustgarten, CEO of OMNIQ. “This follow-on order is a testament to the quality and dependability of our products in accurately capturing data for quick analysis and proactive decision-making. In addition to increasing retail workforce productivity and operational efficiency, our solutions help reduce potential health risks especially during this time of pandemic, where hands-free supply chain solutions that enable contactless handling of produce and other food products from the warehouse to the supermarket aisles are valuable in protecting employees and customers. Our touchless solutions are receiving broadened traction across many industries, including healthcare, retail, transportation and logistics, and parking management, as organizations continue to apply COVID-19 safety measures.”

 

About OMNIQ Corp.
OMNIQ Corp. (OTCQB: 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

 

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a768a7d9-38cb-4fa0-9ddd-fd41128d4118

26/10/2020
OMNIQ Issues October 2020 Letter to Shareholders Highlighting Continued Traction in Global Supply Chain Mobility and Smart City Markets

AI-based machine vision technology cementing Company’s solid position as supplier of touchless solutions for multiple industries

 

SALT LAKE CITY, Oct. 26, 2020 (GLOBE NEWSWIRE) — OMNIQ Corp. (OTCQB: OMQS) (“OMNIQ” or “the Company”), a provider of Supply Chain and Artificial Intelligence (AI)-based solutions, today announced that the Company has issued its October 2020 Letter to Shareholders. The letter highlights the Company’s recent business developments, growing target markets, and strategy for the future.

 

Recent highlights include:

  • Announced a partnership with Zebra Technologies that integrates our AI-based machine vision technology with Zebra’s MotionWorks location solution for advanced logistics yard management
  • Awarded a $1.0-million purchase order by a leading sales and marketing agency focused on supporting consumer packaged goods companies and retailers
  • Awarded $1.8-million project related to the implementation of an advanced delivery logistics initiative for a global metal solutions company
  • Began deployment of SeeDOT™ systems for accurate, automated and real-time monitoring of commercial vehicles at weigh and safety stations in a Southern U.S. state
  • 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
  • Announced a $5.5-million order from a leading supermarket chain for the supply of mobile data collection, computing and communications equipment
  • Generated sales of $26.5 million for the first six months of 2020

“2020 has been a landmark year for OMNIQ, as we’ve continued to advance our business and further cement our already solid position as the supplier of choice for AI-based machine vision technology needs and supply chain solutions for Fortune 500 companies, institutions, and government agencies and municipalities around the world,” said Shai Lustgarten, CEO of OMNIQ. “OMNIQ is stronger than ever, with our touchless solutions receiving broadened demand across many industries as organizations apply COVID-19 safety measures. We are working relentlessly to achieve another year of growth and to create value for our shareholders.”

 

To view the Company’s Letter to Shareholders in its entirety, please visit: OMNIQ Investor Relations

 

About OMNIQ Corp.
OMNIQ Corp. (OTCQB: 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

07/10/2020
OMNIQ’s AI Solution to Integrate with Zebra Technologies in Creating an Advanced Logistics Yard Management System
  • OMNIQ’s AI-based machine vision technology to be used in Zebra MotionWorks location solution to increase efficiency of yard logistics operations

SALT LAKE CITY, Oct. 07, 2020 (GLOBE NEWSWIRE) — OMNIQ Corp. (OTCQB: OMQS) (“OMNIQ” or “the Company”), a provider of Supply Chain and Artificial Intelligence (AI)-based solutions, today announced that it has partnered with Zebra Technologies Corporation (Nasdaq: ZBRA), an innovator at the front line of business with solutions and partners that deliver a performance edge, to offer an AI-based yard management solution that incorporates real-time location capabilities with accurate and automated identification and tracking capabilities to optimize asset flow within manufacturing and distribution centers.  Yard management systems are key components of supply chain logistics management, bridging transportation systems with supply for manufacturing and warehouse management systems.

 

OMNIQ’s proprietary Neural Network-based algorithm, which provides accurate automated vehicle recognition (VRS) and container recognition capabilities, will be used in the Zebra MotionWorks location solution. The system automates the identification of assets such as trucks, trailers, and containers, the tracking of locations, and the status and motion of assets and other resources, allowing customers to monitor and manage these assets and their cargo with increased control, minimized downtime and maximized performance. By having actionable insights from quantifiable, real-time data and enhanced visibility of goods and assets, customers can better streamline workflows, ensure product replenishment, and expedite shipping in a safer and more efficient yard environment.

 

Yard management is crucial to smooth logistics operations. Failure in one part of the process can negatively affect all aspects of operations and inhibit an operator’s ability to deliver shipments on a timely basis. For example, when a trailer goes to the wrong dock, it must be removed and the space allocated to the correct trailer, causing a significant delay. These issues and many other challenges can adversely impact efficiencies and create costly delays.   An effective yard management solution is important in improving worker productivity, dock planning, streamlining the movement of goods and optimizing vehicle movement.

 

“Our Neural Network-based AI algorithm has proven its efficiency and accuracy in many classified locations in the U.S. and Israel,” said Shai Lustgarten, President and CEO of OMNIQ. “We are pleased to work with a company like Zebra, which recorded almost $4.5 billion in sales in 2019, to combine our ‘battle-proven’ technology with Zebra’s state-of-the-art yard management solution. Yard logistics can be extremely costly if not optimally managed. Our cloud-based AI machine vision technology contributes to Zebra MotionWorks location solution by adding the capability to accurately and efficiently identify and track vehicles, containers, trailers and cargo in a terminal yard, optimizing the flow of these assets, with security and access control from arrival in the yard, to yard location assignment, to exit. With better optimization of space and asset movement through actionable intelligence driven by real-time data, the solution transforms the logistics yard into an extension of an efficient warehouse.”

 

Specifically, Zebra MotionWorks with OMNIQ’s access control and security solution provides yard management benefits that include:

  • Efficient identification and authentication of containers and trucks
  • Automatic vehicle plate recognition and arrival notice
  • Intelligent location of truck and container positions
  • Efficient warehouse entrance operation
  • Authentication and destination point alerts for exit gate operations
  • Real-time reporting, analytics, and insights

About OMNIQ Corp.
OMNIQ Corp. (OTCQB: 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.

 

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

07/10/2020
OMNIQ Corp. Awarded a $1.0 Million Purchase Order by a Leading Sales and Marketing Agency
  • Customer has over 25,000 employees and more than 100 offices worldwide focused on supporting consumer packaged goods companies and retailers
  • Purchase order follows orders recently received from diversified multibillion-dollar verticals, including healthcare, food, metals, transportation, logistics and safety

SALT LAKE CITY, Oct. 05, 2020 (GLOBE NEWSWIRE) — OMNIQ Corp. (OTCQB: OMQS) (“OMNIQ” or “the Company”), a provider of Supply Chain and Artificial Intelligence (AI)-based solutions, announced today that it received a $1.0 million order from a leading sales and marketing agency focused on serving the consumer packaged goods (CPG) and retail industries. The order is for the supply of rugged mobile computers and barcode scanners to be used in retail merchandising services. It follows recently announced purchase agreements from a diverse group of verticals, including healthcare, food, metals, transportation, logistics and safety.

 

With over 25,000 employees in more than 100 offices worldwide, the privately held company is behind the sales and marketing for many of the most recognizable brands in the world and is a proven resource for many top retailers.   The customer offers a broad range of outsourced sales, marketing and retail merchandising services, helping its CPG and retail clients move products off shelves and into shoppers’ baskets throughout the U.S., Canada and Europe. Its retail merchandising support services include accelerating speed-to-shelf of new products, achieving increased distribution of current products, and ensuring accurate out-of-stocks and voids.

 

OMNIQ’s sophisticated supply chain solutions accurately and quickly capture product data and efficiently implement retail solutions for the customer’s clients. OMNIQ’s durable and advanced mobile scanning and computing technology empowers the customer to use point-of-sale data to track, analyze and optimize in-store activities, automate various complex processes, and capture critical information for data analytics. The customer has almost 20,000 retail associates in stores every day.

 

“This order is another vote of confidence in the quality and reliability of our supply chain solutions for the retail and CPG industries,” said Shai Lustgarten, President and CEO of OMNIQ. “With similar successes in the healthcare, supermarket, transportation, and basic materials verticals, this purchase order demonstrates the strength of our diversified customer base. Such diversity mitigates risks in the business environment that many companies are facing these days. The customer is a sales and marketing powerhouse with unparalleled penetration across the entire retail spectrum and foodservice industry, from national big-box and club stores to specialty retail channels, working with leading and emerging CPG brands. We intend to further grow our partnership with this leading customer by leveraging our advanced solutions and the customer’s vast client exposure.”

 

About OMNIQ Corp.
OMNIQ Corp. (OTCQB: 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.

 

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

07/10/2020
OMNIQ Corp., Inc. Leadership Discusses AI for Public Safety in Audio Interview with SmallCapVoice.com

AUSTIN, Texas, Oct. 05, 2020 (GLOBE NEWSWIRE) — SmallCapVoice.com, Inc. (“SCV”) today announces the availability of a new interview with Shai Lustgarten, president and CEO of OMNIQ Corp. (OTCQB: OMQS) (“OMNIQ” or “the Company”), a provider of supply chain and artificial intelligence (AI)-based solutions. The interview outlines the development of OMNIQ’s patented and proprietary AI technology, as well as its applications to target markets, impressive existing client roster, and goals for the remainder of 2020 and beyond.

 

Speaking with SCV’s Stuart Smith, Lustgarten explains OMNIQ’s business model, providing an example of how the Company’s machine vision technology can identify potential safety risks before they become a crisis event. In current times, this proactive approach is vital to public safety. It is also garnering attention from a wide spread of customers.

 

OMNIQ’s solutions are currently used by a list of recognizable Fortune 500 companies, as well as a lineup of governments, educational facilities, law enforcements, municipalities, and places of worship. While many businesses have struggled under the restrictions of COVID-19, OMNIQ’s list of customers continues to grow as the Company experiences increased demand for its real-time surveillance and monitoring solutions.

 

“Machine vision technology that we excel in is a machine-to-machine solution … that knows how to detect in real-time what is happening, and, in reality, provides the analytics and thus provides a solution that we customize by detecting the object, by identifying the image that we capture in that certain time and in that certain location,” Lustgarten tells Smith. “I think that is why we are showing 2020 to be another growth year for OMNIQ.”

 

OMNIQ’s broader growth strategy is to respond to growing domestic and international interest in its products and to gain larger share in the markets it currently serves in the United States.

“To continue penetrating and expanding our services in the U.S. is a huge goal for us,” Lustgarten tells Smith. “The most exciting and rewarding thing for us is to see how our products and solutions are affecting everyday life … we want enterprises using our products to be able to serve us all better and become more efficient. That is basically our vision.”

 

The full interview can be heard at: https://www.smallcapvoice.com/interview-omniq-corp-omqs/

 

About OMNIQ Corp.

 

OMNIQ Corp. (OTCQB: 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.

 

About SmallCapVoice.com

SmallCapVoice.com, Inc. is a recognized corporate investor relations firm, with clients nationwide, known for its ability to help emerging growth companies, small cap and micro-cap stocks build a following among retail and institutional investors. SmallCapVoice.com utilizes its stock newsletter to feature its daily stock picks, podcasts, as well as its clients’ financial news releases. SmallCapVoice.com also offers individual investors all the tools they need to make informed decisions about the stocks in which they are interested. Tools like stock charts, stock alerts, and Company Information Sheets can assist with investing in stocks that are traded on the OTCMarkets. To learn more about SmallCapVoice.com and its services, please visit https://www.smallcapvoice.com/small-cap-stock-otc-investor-relations-financial-public-relations/.

 

Socialize with SmallCapVoice and their clients at

 

Facebook: https://www.facebook.com/SmallCapVoice/
Twitter: https://twitter.com/smallcapvoice
Instagram: https://www.instagram.com/smallcapvoice/

 

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

 

SmallCapVoice.com Contact:
Stuart T. Smith
512-267-2430
Info@SmallCapVoice.com

 

Source: SmallCapVoice.com

 

22/09/2020
OMNIQ Corp. Awarded $1.8-Million Project from a Multi-billion Dollar Global Metal Solutions Provider
  • Project includes supply of mobile devices, software and services for the implementation of an advanced logistics program for product deliveries
  • Award follows over $7.5 million in orders from the Healthcare and Logistic Services verticals announced during Q3

SALT LAKE CITY, Sept. 22, 2020 (GLOBE NEWSWIRE) — OMNIQ Corp. (OTCQB: OMQS) (“OMNIQ” or “the Company”), a provider of Supply Chain and Artificial Intelligence (AI)-based solutions, today announced that it has been awarded a project with a total value of approximately $1.8 million by a global metal solutions provider and one of the largest metals services companies in North America. The project consists of approximately $1.2 million for the supply of Android-based mobile computing devices with communication capabilities and approximately $0.6 million for software and services. It represents more than 100% increase from the customer’s purchase orders from OMNIQ in 2019.

 

The customer serves over 100,000 of its own customers through over 300 locations in the U.S. and operations in over a dozen countries. The company will use the hardware, software and services from OMNIQ for the implementation of a new logistics program that enhances the dissemination of information to their own customers about product deliveries. With a strong focus on improving efficiencies and quick delivery, the advanced logistics initiative will provide their customers with real-time updates on deliveries of orders, as well as telematics information from the delivery trucks.

 

“Once again, we are excited to provide an industry-leading customer with its computing needs to support strategic efforts in achieving operational efficiency,” said Shai Lustgarten, President and CEO of OMNIQ. “This project represents our solid position as a reliable and trusted multi-vertical supplier to some of the most prestigious companies in the U.S. Complimenting the supply of powerful supply chain computerized solutions to multiple verticals, we are also focusing on implementing our Neuronic-based AI solutions for the supply chain industry, as we do in the Homeland Security and Smart City verticals. We have a strong, long-term relationship with this customer, which we intend to set as standard in our relationships with other Fortune 500 companies who view us as their supplier of choice. Already in 2020, and notwithstanding selling challenges posed by COVID-related social distancing, we have inked supply agreements with industry leaders in the supermarket, healthcare, and now basic materials industries, in addition to our successes with government agencies and academic institutions.”

 

About OMNIQ Corp.
OMNIQ Corp. (OTCQB: 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.

 

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

04/09/2020
OMNIQ Corp. Announces Deployment of AI-based SeeDOT™️ Systems for Southern U.S. State
  • State benefits from accurate and efficient monitoring of commercial vehicles at weigh stations using OMNIQ’s Neural Network-based algorithm
  • Three of 14 SeeDOT™️ systems ordered have now been installed

SALT LAKE CITY, Sept. 04, 2020 (GLOBE NEWSWIRE) — OMNIQ Corp. (OTCQB: OMQS) (“OMNIQ” or “the Company”), a provider of Supply Chain and Artificial Intelligence (AI)-based solutions, today announced that its image-processing division HTS has begun deploying SeeDOT™️ systems, OMNIQ’s solution for automating vehicle monitoring at weigh and safety stations, for an order received from a Southern U.S. state.  The SeeDOT™️ systems, which will replace old equipment, are powered by OMNIQ’s proprietary AI-based, deep-learning neural network algorithm (“SeeNN™️”).  Three of 14 SeeDOT™️ systems comprising the order have now been successfully completed, with the installation of new sensors, illumination units, and AI-based algorithm software.

 

OMNIQ’s SeeDOT™️ systems automatically monitor commercial motor vehicles (CMV) entering and exiting controlled areas, such as weigh-in-motion stations along highways, ports of entry and border crossings, secure parking facilities for trucking, and other sensitive installations.  This cutting-edge solution provides an automated and accurate means to capture, collect, and read Department of Transportation (DOT) numbers on the cabs of CMVs for vehicle and owner identification, pre-screening, inspection, and enforcement/compliance monitoring.  In addition to DOT numbers and images, SeeDOT™️ systems also capture license plate numbers and images, as well as overview images of the vehicles.

 

“As the need for accuracy and automation is growing, the installation of SeeDOT™️ systems at three weigh stations in the state has resulted in dramatically improved performance,” said Shai Lustgarten, President and CEO of OMNIQ.  “Our SeeNN™️ neural network engine drives the efficient and accurate retrieval of relevant information from state and federal vehicle databases, allowing state agencies and enforcement officers to quickly access inspection and safety records, license compliance, HazMat registration, freight paperwork and overweight permits, among others.  Importantly, the real-time identification of commercial vehicles allows state officers to focus their attention on high-risk vehicles, while allowing others to cross the station without the need to stop, enabling faster flow of traffic, reducing wait times, and improving productivity and safety.”

 

Using sensors, advanced video analytics, and OMNIQ’s SeeNN™️ neural network engine, SeeDOT™️ systems extract relevant data, which are then used to determine, based on a vehicle’s records and weight, if a vehicle is flagged for inspection by state highway officers or signaled to return to the highway after passing registration, inspection records, and compliance tests.  This method replaces random checks by dispatching only high-risk vehicles to the checkpoint.

 

DOT numbers are printed in various sizes and qualities, creating major challenges to read the information under varying conditions during day and night.  To overcome these challenges, advanced image processing techniques and specialized hardware are needed to provide high-quality readings in a great variety of formats and colors.  OMNIQ’s SeeNN™️ engine has been tested on tens of thousands of truck images, validating its accuracy in reading license plate and DOT numbers. Sensors used in these systems are capable of handling CMVs traveling at up to 50 miles per hour without degradation in performance.

 

About SeeDOT™️

SeeDOT™️ enables users to automatically capture, collect and read the DOT (Department of Transportation) number listed on the cab of every Commercial Motor Vehicle (CMV) that transports interstate cargo and link the information to the vehicle records. This automated reading capability allows for speedy retrieval of useful data from State and Federal Department of Transportation databases related to the commercial vehicles’ inspection records and license compliance. This provides benefits to the commercial vehicle operators, agencies and enforcement officers by allowing real-time identification of the commercial motor vehicles along with quick retrieval of relevant information related to size, safety records, and HazMat registration. High-risk vehicles can be identified and focused upon.

 

About OMNIQ Corp.
OMNIQ Corp. (OTCQB: 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.

 

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

03/09/2020
OMNIQ Corp. Receives Additional $1.3 Million in Orders from a Worldwide Leader in the Transport and Logistics Sector for a Total of $3.5 Million since August 2020
  • Total project value of $3.5 million exceeds expected $3.0 million announced in August 2020
  • The orders are for the supply of mobile data collection devices equipped with advanced communication capabilities
  • Customer operates over 100 warehouses in the U.S. with over 40 million sq. ft. of warehousing space

SALT LAKE CITY, Sept. 03, 2020 (GLOBE NEWSWIRE) —  OMNIQ Corp. (OTCQB: OMQS) (“OMNIQ” or “the Company”), a provider of Supply Chain and Artificial Intelligence (AI)-based solutions, today announced that it has received additional orders with a total value of approximately $1.3 million from a leading global transport and logistics company.  Initial orders worth approximately $2.2 million from this customer for the supply of mobile data collection devices equipped with advanced communication capabilities were announced on August 24, 2020, bringing the total to approximately $3.5 million.

 

The customer is an industry-leading third-party logistics (3PL) company that provides contract distribution services for many different industries and companies throughout the U.S.  OMNIQ will supply scan guns and wearable computers to facilitate order fulfillment and general warehouse management functions.  Delivery of the devices is expected to be completed this year.

 

Shai Lustgarten, President and CEO of OMNIQ, stated, “In August, we announced the receipt of $2.2M worth of orders from a distinguished transport and logistics company and that we expected additional orders of approximately $800,000.  We are very pleased to quickly fulfill and exceed this expectation with $1.3 million in additional orders.  These increased follow-up orders represent another strong vote of confidence from a multibillion dollar company that has chosen OMNIQ for the supply of its critical operational needs. Following our recent $5.5 million order from a leading supermarket chain in June and the $4.0 million order from a leading healthcare and pharmaceuticals supplier in July, these new orders reaffirm our solid position as a supplier of choice for sophisticated computerized equipment to leading Fortune 500 companies.”

 

About OMNIQ Corp.
OMNIQ Corp. (OTCQB: 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.

 

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