omniQ Awarded an Initial Order for its Q Post™, Integrated AI – Machine Vision System, from a Major Retailer with an opportunity for up to 5,000 units in North America.
July 26 2022 - 7:35AM
OMNIQ CORP. (NASDAQ:OMQS) a provider of Supply Chain and Artificial
Intelligence (AI)-based Machine Vision solutions, has received an
initial order from a Major Retailer with an opportunity to deploy
up to 5,000 units in its nation wide locations in North America.
This deployment will utilize the Company’s Machine Vision solution
providing the customer with crucial information about every
entering vehicle, enabling improved speeds and more efficient
customer service. In addition, the utilization of omniQ’s Vehicle
Recognition System will allow the customer to recommend products
tailored to the vehicles unique specifications helping to drive
revenue.
Bill Fisher, an omniQ sales executive, noted
“This deployment showcases yet another application of how our
products take obsolete and time-consuming processes, automates them
and in turn becomes a major competitive advantage for retailers in
many verticals.”
Through the automation of data capture,
businesses are able to spend less time researching vehicle, client,
& product information and more time performing revenue boosting
tasks that simultaneously improve the customer experience and
interaction.
Shai Lustgarten, CEO commented “We continue to
put an enormous amount of time and effort into our AI based
solutions and targeting the retail market is one of our strategic
objectives. This is now the third market we have penetrated with
this solution-focused technology and was a logical progression of
our vehicle recognition system after its notable success in traffic
management and safe cities.”
This new order follows the recent announcements
of projects and purchase orders including the receipt of a $29
Million project for supply chain equipment from a Fortune 100
corporation, the award of an $11 Million project for the Government
of Israel and the award of $4.1 Million for supply chain and data
collection systems, resulting in an all time backlog of orders and
projects.
About OMNIQ Corp:
OmniQ is an industry leader focused on
contributing the world we live in through technology and AI Based
solutions.
The following are a few key elements that make
our solutions valuable pillars in their respective verticals.
- Smart Supply: We are an innovative
supplier of one of the most important systems in the world. We
offer supply chain solutions from the best brands, accompanied by
our patented AI for customers large and small who value speed,
accuracy, dependability, & innovation.
- Smart Parking: The cloud-based
parking system (PERCS) that uses our highly awarded Vehicle
Recognition AI to improve parking operations by eliminating
physically demanding and time-consuming tasks by making them
digital. It is credible, reliable, scalable, user-friendly, &
accurate.
- Smart Security: Our battle-proven
AI-based system has saved lives, protected the vulnerable, reduced
crime, & more. We are a force multiplier that fills in the gaps
where human limitations hinder effective safety and
enforcement.
- Smart Kiosk: Our subsidiary Dangot
is a household name in Israel providing innovative retail
solutions. From the smallest restaurant to major Hospitals and the
Israeli government, you will find Dangot’s products
everywhere.
Visit omniQ.com/investors for more information,
or call or email to schedule an investment opportunity
presentation.
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
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times at, or by, which that performance or those results will be
achieved.
Forward-looking statements are based on
information available at the time they are made and/or management’s
good faith belief as of that time with respect to future events,
and are subject to risks and uncertainties that could cause actual
performance or results to differ materially from those expressed in
or suggested by the forward-looking statements.
Important factors that could cause these
differences include, but are not limited to: fluctuations in demand
for the Company’s products particularly during the current health
crisis , the introduction of new products, the Company’s ability to
maintain customer and strategic business relationships, the impact
of competitive products and pricing, growth in targeted markets,
the adequacy of the Company’s liquidity and financial strength to
support its growth, the Company’s ability to manage credit and debt
structures from vendors, debt holders and secured lenders, the
Company’s ability to successfully integrate its acquisitions, and
other information that may be detailed from time-to-time in omniQ
Corp.’s filings with the United States Securities and Exchange
Commission.
Examples of such forward looking statements in
this release include, among others, statements regarding revenue
growth, driving sales, operational and financial initiatives, cost
reduction and profitability, and simplification of operations. For
a more detailed description of the risk factors and uncertainties
affecting omniQ Corp., please refer to the Company’s recent
Securities and Exchange Commission filings, which are available
at https://www.sec.gov. omniQ Corp. undertakes no obligation
to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
unless otherwise required by law.Koko
Kimball(385)-758-9241kkimball@omniq.com
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