omniQ Announces Initial Order For a Major US Casual Fast-Food Chain with 800+ locations for Q Shield™, omniQ’s Integrated AI – Machine Vision System.
August 11 2022 - 8:45AM
OMNIQ CORP. (NASDAQ: OMQS) a provider of Supply Chain and
Artificial Intelligence (AI)-based Machine Vision solutions, has
received an initial purchase order from a Major American Casual
Fast-Food Chain with 800+ locations.
The initial Purchase Order includes both
hardware and AI based software. The technology will record and
provide real time and historical consumption information to staff
playing a crucial role in helping the locations drive improved
customer service and revenue growth. In addition, Q Shield™ will
provide its AI security enforcement function, better securing each
location.
Shai Lustgarten, CEO commented “After
penetrating the retail sector with our Artificial Intelligence
solution Q Shield™, we are eager to extend our reach even further
into casual fast-food drive-throughs. This multi-Billion Dollar
sector is highly competitive, and chains are looking for ways to
stay ahead of their competitors as well as grow. Utilizing omniQ’s
technology will provide tools to better understand consumers
consumption habits while improving each unique customers
interaction. Retail and Restaurants represent new and promising
markets for our AI based technology. This technology will be part
of the CRM (Customer Relationship Management) system allowing for
dynamic decisions based on each unique customer visit. Together
with Q Shield's™ security enforcement in each location, our total
solution is unparallel and a unique offering. This first of a kind
integration will also include vital data collection services
providing a more complete solution.”
omniQ’s AI based proprietary technology is
already proven for public safety, crime, terror prevention,
automation of parking, access control and law enforcement. With
over 20,000 units deployed worldwide including major Airports in
the US, multiple sensitive zones in the Middle East and several
cities in the US omniQ is well positioned.
Lustgarten continued: “Based on the quality of
our solution, the growing need for dynamic customer data and the
vast size of the market, we believe both the retail and casual
fast-food markets are two promising potential growth engines. The
current employment environment is challenging to all industries
especially the retail and restaurant sector. Companies are looking
for ways to handle fewer employees while improving the level of
customer service. We are thrilled to be bringing our proprietary AI
based solution into the casual fast-food industry as part of our
strategic plan, helping to alleviate pressures many companies are
facing today while improving the customer experience.”
This 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 all-time backlog of orders and projects.
About OMNIQ Corp:
OMNIQ Corp. 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, oil, gas, and chemicals.
Since 2014, annual revenues have grown to more than $79 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 please 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. Examples of
forward-looking statements include, among others, statements made
in this press release regarding the closing of the private
placement and the use of proceeds received in the private
placement. 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.
Contact: Corporate ContactKoko Kimball(385)
758-9241IR@omniq.com
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