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OMNIQ Corporation has reported a sequential revenue increase to approximately $19.1 million for Q2 2024, reflecting a 4% rise from the previous quarter. The company achieved a gross margin of 26%, significantly up from 19% in Q2 2023, indicating improved profitability. Additionally, OMNIQ successfully reduced its operating expenses by over $2 million compared to the same period last year.
The company is focusing on technology development and strategic partnerships to enhance its AI capabilities. Recent advancements include an upgraded AI engine that supports new use cases, such as restricted area access control, which can improve customer satisfaction and generate additional revenue streams. OMNIQ's stock uplisting to OTCQB is expected to provide better trading conditions and reflects its commitment to financial stability.
• OMNIQ's revenue increased to $19.1 million in Q2 2024.
• The company achieved a gross margin of 26%, up from 19%.
OMNIQ utilizes AI to enhance its technology solutions for various applications, including surveillance and monitoring.
OMNIQ's gross margin increased to 26%, indicating improved profitability.
OMNIQ leverages its IoT business to maintain customer relationships and expand its service offerings.
The company reported significant revenue growth and improved margins, highlighting its focus on technology development.
OMNIQ has formed a strategic alliance with Ingenico to enhance its fintech offerings, integrating AI-driven technology with payment solutions.
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