OMNIQ Corp. (OMQS): history, ownership, mission, how it works & makes money

A Brief History of OMNIQ Corp. (OMQS)

Company Overview

OMNIQ Corp., trading under the ticker symbol OMQS, specializes in providing advanced technologies for operational efficiencies and security. The company focuses primarily on Artificial Intelligence (AI) solutions, and Automated Identification and Data Capture (AIDC) technologies.

Founding and Development

OMNIQ Corp. was founded in 2015. Since then, it has aimed to deliver solutions that enhance operational efficiencies across various industries. The company has made significant strides in integrating AI with AIDC technologies to streamline processes in logistics and inventory management.

Key Milestones

• The acquisition of QR Technologies in 2016 marked a pivotal growth point for OMNIQ, expanding its product offerings in QR code technology.
• In 2018, OMNIQ launched a proprietary AI-based platform targeting the supply chain industry.
• OMNIQ Corp. went public in 2019, listed on the NASDAQ under the symbol OMQS.
• In 2020, OMNIQ expanded its portfolio through strategic acquisitions, including companies specializing in enhanced tracking and surveillance solutions.

Financial Performance

As of the second quarter of 2023, OMNIQ reported revenue of approximately $6.8 million, a marked increase from $4.2 million in the same quarter of 2022. The gross profit margin was reported at 25%.

Market Strategy

OMNIQ has adopted a market strategy focused on innovation and partnerships. The company collaborates with industry leaders to integrate their technologies into existing platforms, enhancing user experience and operational efficiency.

Recent Developments

In 2023, OMNIQ Corp. announced a partnership with a major logistics provider to deploy its AI-driven solutions across their operations, potentially increasing the operational efficiency by over 30%. This agreement is projected to generate an additional $3 million in revenue over the next two years.

Stock Performance

As of October 2023, OMNIQ shares have experienced fluctuations with a current trading price around $2.15. The company has a market capitalization of approximately $42 million.

Future Outlook

Analysts project a growth trajectory for OMNIQ Corp. with anticipated revenue growth of 20% year-over-year through 2025, driven by advancements in AI technology and an expanding customer base.

A Who Owns OMNIQ Corp. (OMQS)

Shareholder Composition

OMNIQ Corp. (OMQS) has a diverse ownership structure comprising institutional investors, retail shareholders, and company insiders. As of the latest data, the following percentage ownership is reported:

Major Institutional Shareholders

Institutional ownership plays a significant role in the stability and governance of OMNIQ Corp. The following institutions are among the major shareholders:

Insider Ownership

Insider ownership is another crucial aspect of OMNIQ Corp.'s ownership structure. The key insiders include:

Recent Share Price Performance

The stock performance is influenced by various factors including market conditions and company performance. As of the latest market data, OMNIQ Corp. shares are trading at:

Recent Developments

OMNIQ Corp. has been active in expanding its market presence. Recent developments include:

• Partnership with major clients in the logistics sector.
• Expansion of product offerings in AI and IoT.
• Increase in revenue projections for Q4 2023.

OMNIQ Corp. (OMQS) Mission Statement

Company Overview

OMNIQ Corp. (OTCQB: OMQS) is a leader in providing innovative solutions focused on enhancing supply chain management across various industries. The company aims to utilize advanced technologies, including artificial intelligence and machine learning, to improve operational efficiency.

Mission Statement

OMNIQ Corp.'s mission is to deliver state-of-the-art technology solutions that empower companies to streamline their operations, reduce costs, and enhance customer satisfaction. The company is dedicated to creating sustainable value for its customers through innovative products and services.

Core Values

• Integrity: Upholding the highest standards of ethics in every aspect of business operations.
• Innovation: Continuously improving and embracing new technologies to provide cutting-edge solutions.
• Customer Centricity: Prioritizing the needs of customers to ensure satisfaction and trust.
• Sustainability: Committing to environmentally responsible practices in all operations.

Market Position

According to the latest financial data, OMNIQ Corp. reported a revenue of $27 million for the fiscal year 2022. The company has shown a growth rate of approximately 30% year-over-year, indicating its increasing market share within the supply chain technology sector.

Target Audience

The company primarily targets businesses in the following sectors:

• Retail
• Logistics
• Healthcare
• Manufacturing

Financial Highlights

Strategic Objectives

• Expand product offerings to include more AI-driven solutions.
• Enhance customer support and engagement through improved channels.
• Increase market penetration in emerging markets.
• Achieve operational excellence through continuous improvement initiatives.

Conclusion

OMNIQ Corp. is focused on innovation and efficiency, aiming to drive significant value for its customers while contributing positively to the industry landscape. The company's mission statement encapsulates its commitment to providing exceptional technology solutions that enhance supply chain management capabilities.

How OMNIQ Corp. (OMQS) Works

Company Overview

OMNIQ Corp. (OMQS) is a technology company specializing in providing AI-driven solutions for various industries, including logistics, transportation, and manufacturing. As of October 2023, the company has focused on enhancing operational efficiencies through its advanced technology platforms.

Revenue Model

OMNIQ generates revenue primarily through software licensing, consulting services, and hardware sales. In 2022, the company reported a total revenue of $9.5 million, representing a growth of 35% compared to the previous year.

Market Segments

The primary market segments for OMNIQ include:

• Logistics and Transportation
• Manufacturing
• Retail
• Smart Cities

Key Technologies

OMNIQ leverages several key technologies:

• Artificial Intelligence (AI)
• Internet of Things (IoT)
• Machine Learning (ML)
• Blockchain

Financial Performance

As of Q2 2023, OMNIQ reported the following financial metrics:

Client Base

OMNIQ's client portfolio spans various industries, including:

• Government Agencies
• Healthcare Providers
• Manufacturing Firms
• Logistics Companies

Partnerships and Collaborations

The company has established key partnerships to enhance its service offerings:

• Collaboration with major logistics firms for supply chain optimization
• Partnership with software development companies for AI integration

Growth Strategy

OMNIQ's growth strategy focuses on:

• Expanding its product offerings in AI and IoT
• Entering new markets internationally
• Increasing strategic partnerships and alliances

Recent Developments

As of October 2023, OMNIQ has announced several initiatives, including:

• Launch of a new AI-based logistics platform
• Acquisition of a technology startup to enhance product capabilities

Stock Performance

As of October 2023, the stock performance of OMNIQ Corp. is as follows:

Conclusion of Financial Metrics

OMNIQ Corp. continues to focus on enhancing its technology offerings and expanding its market reach, showing potential for sustainable growth within its operational sectors.

How OMNIQ Corp. (OMQS) Makes Money

Revenue Streams

OMNIQ Corp. generates revenue through multiple streams that include hardware sales, software solutions, and services encompassing implementation and maintenance. The company's key products and services are focused on providing comprehensive solutions in the fields of artificial intelligence and machine vision.

Hardware Sales

The company offers a range of hardware products which include:

• Automated identification systems
• Barcode scanners
• Mobile devices
• Vehicle-mounted computers

For the fiscal year ending 2022, OMNIQ reported hardware sales of approximately $8.1 million.

Software Solutions

OMNIQ develops proprietary software that integrates with their hardware offerings, enhancing functionality and efficiency. The software includes:

• AI-based analytics
• Inventory management systems
• Tracking and monitoring software

In 2022, software revenue accounted for around $5.3 million of total revenue.

Service Revenues

OMNIQ provides ongoing support and maintenance services for its products. The service revenues were approximately $3.5 million in 2022.

Geographical Revenue Distribution

The revenue distribution across different regions for 2022 is as follows:

Strategic Partnerships

OMNIQ has formed strategic partnerships to expand its market reach and enhance its service offerings. These partnerships contribute to revenue through:

• Joint ventures
• Collaborative product development
• Distribution agreements

The impact of these partnerships is reflected in a 15% increase in revenue for 2022 compared to the previous year.

Market Demand and Projections

According to the market research report, the global market for automated identification and data capture solutions is projected to grow from $24 billion in 2021 to $43 billion by 2026, with a CAGR of approximately 12%.

Recent Financial Performance

In the latest financial report for Q3 2023, OMNIQ Corp. reported total revenue of $3.2 million, which represents a 20% increase year-over-year. The breakdown for the quarter included:

• Hardware: $1.6 million
• Software: $1.0 million
• Services: $0.6 million

Cost Structure

The cost structure of OMNIQ includes:

• Cost of Goods Sold (COGS): Approximately $4.2 million for 2022
• Operating Expenses: Approximately $6.0 million for 2022

This results in a net loss of $2 million for the same period, attributed to investments in research and development for future growth.

Future Growth Initiatives

OMNIQ plans to expand its product line and enhance its software solutions, focusing on emerging technologies and markets. The estimated budget for R&D in 2023 is approximately $1 million.