omniQ Announces Follow on orders for its AI Based Machine Vision System for a Major US Fast Food Chain with 800+ locations.
October 25 2022 - 8:45AM
OMNIQ CORP. (NASDAQ:OMQS) a provider of Supply Chain and Artificial
Intelligence (AI)-based Machine Vision solutions, has received
additional purchase order from a Major American Casual Fast Food
Chain with 800+ locations.
The follow-on Purchase Order – for additional
locations - includes both hardware and AI based software to provide
real time and historical information to staff and play a crucial
role in helping the locations drive improved customer service and
revenue growth.
Shai Lustgarten, CEO commented “We are very
encouraged to announce this follow-on order just a few months after
breaking into this scalable multi-billion Dollar opportunity of
Quick Service Restaurants (QSR). We believe that the penetration to
the retail market and the QSR with our AI technology represents a
mega opportunity for growth and profitability. Utilizing OmniQ’s
technology will provide our customers new ways to better understand
consumers consumption habits while improving each unique customers
interaction. Our AI solutions are successfully used for public
safety, traffic control, automation of Parking, terror prevention
and law enforcement. The new retail and QSR markets create a new
dimension to our business which we hope to be a game changer for
us”.
Omniq’s proprietary technology will integrate
into the CRM (Customer Relationship Management system) allowing for
dynamic decisions based on each unique customer visit. This first
of a kind integration will also include vital data collection
services providing a more complete solution.
Lustgarten continued: “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 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 an 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.
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 and the
fast casual restaurant sector expected to reach $209 billion by
2027.
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: IR ContactKoko
Kimball385-758-9241
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