OMQS - Earnings call transcript Q1 2021

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Operator

Good morning and thank you for joining us for the OMNIQ Corp’s Financial Results and Corporate Update Call for the First Quarter ending March 31, 2021.

Joining us today are Shai Lustgarten, CEO of OMNIQ who will provide an operational overview and Neev Nissenson, Chief Financial Officer, who will discuss financial results. The prepared remarks will be followed by a question-and-answer session. I will now take a brief moment to read the Safe Harbor statement.

During the course of this conference call, we will make certain forward-looking statements. expectations, predictions address are the that statements. forward-looking statements opinions about or future All

and update our our and can statements current current our and and reflect actual of them of they will Although interpret you the risks certain forward-looking expectations of unless not affect obligation cases in are materially. of business revise and to I law. new no we guarantees Form the a risks industry Shai. XX-K future whether result today, for our uncertainties they best business factors filings and otherwise that performance. differ the events are the and information, could and light. and that that and that or publicly number other our performance These or review expectations otherwise, future in as results call OMNIQ over see involve ask view on the cause and not now them change principal discussion control, within as We of by a a consider to to would that since undertakes to those uncertainties elements you we any are company’s company’s turn SEC urge the required based statements

Shai Lustgarten

finds taking Thank your you, and you listen call time the operator and hope you appreciate and safe thanks I to this to and everyone the joining us loved today. on healthy. in ones I

object $XX company we OMNIQ’s solutions pro With identification agreement AI-based of which will an acquire has are the Dangot highlight of and week’s offering. quarter additional discuss with announcement first positioned is to to option that that we creating OMNIQ acquisition, OMNIQ XXXX acquisition into Computers definitive providing XX% results, entered drive last XX%, to to adoption million automation this increased I revenue like would the acquire forma basis on a Limited. Before pursuant

trading processing revenue various forma for for for $X.X of signing. Dangot fast the and share delivery figure in and paid total shareholder will solutions processing drug smart pro tests for technology the XXXX leader be verticals. of price state-of-the-art the of and exceed digital stations to providing Upon food integrated to innovative acquisition, is order sales XXXX. million point comprised products of here XX shares expect the warehouses, we other robotic to average working physicians, approximately We and effectiveness $X Dangot prior automated, payment the $X.X the in based closing parking, frictionless, and blood of retail, million of days in the pay on in approximately restricted million cash a over enabling

XX% approval X Israeli We also acquire the the shortly same upon valuation. expected by the of is year Closing receipt option to of Authority. Competition have remaining

U.S. Dangot’s XXXX leverage in profit to a taxes million, revenue advanced in For approximately $X demand $XX market, of us gross the sales for solutions was the approximately before team unique Dangot’s strong sold financial in with attractive widely for our opportunity background, margins create Israeli and million.

believe customers AI the and will their same our At and we served we and the COVID-XX to pandemic automation the ago. continue the solutions sales play supply operation. am demand performances great satisfaction since online Dangot accelerate into performance for in and both that operations executing I the Haim merging OMNIQ. values to period, forging warehouse that have through medical deliver by long-term currently the supplier and Mr. sales we and in largest includes million introduce an supermarket using savings. whole and investment in, foundation years over. is the us customers impressive exciting robotics through customers logistic solid team growing in global advanced to Israel automation, trust is introduced also Together our solutions Founder welcomes plan the OMNIQ’s time, continuous innovation, a of expect the to and Dangot, whom that that trend we both to and during that OMNIQ CEO the customer can major confident U.S. we centers our over These Specifically, sell significant Dangot’s when entity automate AI for in to plan equipment Dangot significant Dangot’s companies. times congratulating a with was distribution impressive with a groundbreaking chains hospitals for our the creating products Dangot we drugs to role on annually, $XX the serves in X are that chain at are in

that We our And are the growth achieving to of building. results. company the of $XX now, XX% are proud quarter sales. first XXXX close million of robust We in QX to record successful and we in turning had the year-over-year

orders AI-based the in QX our by XXX% increased received compared for orders New solution to XXXX.

is and customer achievement main very our including Our assets, diversified and base. to strong superior attributed our mainly technology a our strategy, two AI-based

a start. me results. Neev over this our I take off at to to before turn are to Neev? But great deeper financial a now We let go look further,

Neev Nissenson

everybody. hello, Yes,

Net of was $X.XX of taxes, well Total loss were quarter first the quarter $X.X XXXX. continued increase adjusted quarter in is or EBITDA off customers operating amortization, per $X quarter fully coming line million March adjusted compared for COVID-XX XXXX first in loss million to cash credit, for an As period expenses million as ended Shai million million quarter the our of loss XX% earnings Adjusted XXXX. loss pandemic $X.X of of the the of $X.XX million before for year. reflects share highlighted, of in of first XX, traction the an was million After EBITDA, feel to $X.X in of loss higher for certain quarter million as last what a $XX.X the compared of markets. $X.X out XX, and of per quarter increase which revenue reported revenue with $XX.X almost interest, demand ended from a a first we first $XXX,XXX from is The amounted of the the for paying of to quarter compared March loss or for $X.X a the depreciation, XXXX. the share of meaning the million XXXX. $X.X XXXX

now turn me Shai Let talk about to to outlook. Shai? operational over achievements the call and back the more

Shai Lustgarten

the by We had few provide will will sell our an I year-to-date QX Starting AI, with you, to now results AIDC business the highlights. market. Thank of Neev. share on both that AI we I driven business strong update legacy and a supply chain a and principally business. parts

Systems the during in to Q the of of Georgia selected its the were to quarter, first First, in we by vehicle our Vehicle city Recognition deploy Shield driving through city, any identify is Shield the of Technology violation which in uninsured the state are endemic and vehicles million the is across Georgia are from dollars nation’s on States vehicles registration roads uninsured the requirements. road. problem losing everyday approximately that that Q United XX millions unregistered states addresses traversing our or

the been the terror systems the to U.S. defense public announced vehicle, of the We transportation authority also for selected for prevention orders HOV provide recognition Shield well a have zone We OMNIQ’s occupancy sensitive outside in that in as Q attacks lanes. top vehicle high AI-based received

stuck drivers the traffic next New $XXX in traffic congestion traffic. hours an problem the cost as survey average of over Our out technology XXXX XX points addresses billion years. global in peak York spend This in will severe X the

market. Finally, person billion AI-based solutions African into we expanded our the X.X

and and a South with of We the countries to Africa, aviation South based already provider market. we African management South Africa of Logistics And in announced solutions and deploy subsequent and South have control provide have the Caribbean. into Professional partnered security and companies homeowner associations continent Florida contract in aspects and logistics Q solution access and orders and Shield in to the initial addressing to end, all African security, risk to the control control for received other to access operations warehouse quarter communities

those there XXX,XXX are in in with context, HOAs States the than more Florida. of and California XX,XXX than gated the more vast communities, United For majority including

Shield and and the Q throughout uniquely communities Gated is machine Ungated in vision designed platform HOA, to the operations with its Caribbean. support Florida services Q-Wire’s system Our serve and of

I Turning a will share AIDC business, just couple to of highlights. legacy the

the thousands and specialty for trace control applications largest billion computerized of Canada in over collect calls for approximately annual that $XX received purchase for purchase of of announced retailers as mobile distributors’ that supply U.S. which growing million internal inventory from equipment we $X.X through in U.S., agreement the over of from inventory IoT equipment designed as the agreement sharing calls revenue. IT well the and agreement approximately track distributors $X.X data distribution chain food as million mobile the identify, IoT in the with centers, $X of collected we supply an The and e-commerce designed as products well to one The the the solutions is retail and largest systems. and the business. we assets received in one computerized billion trucks First, revenue. automation agreement Also, support generates to have annual North America, deliver and of supply U.S.

computerized America. over data in accessories billion, Additionally, as equipment IoT exceeding we calls center retailer purchase announced well The leading initiatives distribution with operations. $X.X receive for collection revenue global e-commerce over from annual solutions operating and order support for and solutions mobile for to million agreement their stores apparel a specialty as North $X to XXX

influence and a including with to are XXX and groundwork plants, hospitals, Fortune adoption adopter to repeat exciting over attractive amounts finally, and our chain. OMNIQ very new and including high recap manufacturing transaction. and efficiencies, logistics Dangot approximately for transportation from OMNIQ’s to we operator, And chain opportunity significant AI retail of focused, operations. on Dangot this Dangot’s pilots customers new We OMNIQ’s projects call OMNIQ. to city supply innovative are our XXXX AI-based I impressive Dangot bringing pleased others fiscal smart and questions. leading food and restaurants, and revenue record solutions agencies. with among brings and customers turn for government to points growth markets. for the And supply future a cross-sell for service chain proprietary a will generate on the to laying parking and of now the AI-based customer and AI And million. resumed chains, base, that supply with offers The the better multiple Projects to provide Dangot supply is just pro medical, increased customers and solutions supermarkets, early the have bright accelerate automate the sales retail strong municipalities forma Consolidated solutions customers. driving drug, $XX market solutions Dangot’s OMNIQ to retailer new

Operator

line the from [indiscernible], comes question Private first Please Our of Instructions] [Operator question. your with Investor. you. Thank proceed

Unidentified Analyst

quarter. Thank Shai you. and Hello, good

Shai Lustgarten

Thank [ph]. you, Hila

Unidentified Analyst

have please. I few a questions,

The model non-gated recently first gated one, you business communities. you supplying our about and new a to announced solution

here and I for how mentioned this, the sale think but and what’s the is market marketing big model? you

Shai Lustgarten

So market. the huge across and are nation and HOAs. XXX Gated in communities looking a we Ungated at about It’s – XXX,XXX

an that we using today. Gated indirect that and actually product products, Shield that the and an all communities exist approaches and approaches our and coming they are resellers channel that doesn’t and with residents with We solution Ungated are sales innovative our resells is are actually training these Q one directly these and

and communities is better only a using We are need to to But not anyone touch And efficiencies, ability only man entering everything security, technology. provide in for takeaway not yes, is know our but of by a where a the vision only we solution control in the these not a who about visitors, exactly also machine we the savings, residents having talk facility. not today experience enter-exit lot offered infrastructure it. seamlessly can AI by the for

revenue very as it. We as with it’s indirect about monthly charge revenue. and an a sold SaaS sales model, where all are recurring channel our we services excited It’s a

Unidentified Analyst

Wonderful.

due acquired the margin is is is lower, the company? the So, it of specific a how to gross margin product and

Shai Lustgarten

a last but the a support this that see see growth we and saw lower, as is growth growth one, in basically, we kind points we parking, unfortunately, legacy that this to legacy identification growth margins. AI technology. education, both mentioned, our the support But see We simple a lower a and starting is public our continuous footprint in growth, about before the our shown QX Bluetooth, safety, continuing for object and during RFID, we did gross technology, we comes growth hurt, management, fact had growth indeed, have the pandemic, – well etcetera, way because orders products, our years. that year saw to also we are support discussed rest like the in in yes, expect profitability, of Wi-Fi, our and not The as AI lower technology we already – using this The and QX, before designated we lasers, mentioned huge we It’s continue. we it that. is got but traffic with its we up in continue etcetera that both are see AI see already business lines, started good in in QX this will of ramp but

And of also growth growth both see the as GP, year. QX and growth, basically, So in lines. of we when that you also – you in see of QX we see and XXXX will last the businesses business course saw

a well. immediately the end, so All technology of on in this from to much you generation exciting. Dangot’s between us as additional going much to for more $XX very products back see and it are impressive AI adding give markets in that this but to business XX% the its coming And the aspects gross up XX% So, one is course which we products, organic to picture makes the an going brings going come cash everyday and well, the acquisition much with of that probably year of line series legacy course ramp top lines, is the with we with – we legacy see the top given us addition serve. of to that ranges profitability that fact to which sold, two so to that be as legacy the better in also larger it’s line how will ours, the coming these million that

Unidentified Analyst

Very exciting. the much. Keep Excellent. good on job. Thank you very

Shai Lustgarten

much. you Thank so

Operator

from Halpern with you. next comes proceed Taglich the question Brothers. your Howard with [Operator question. Thank of Our line Please Instructions]

Howard Halpern

the on Congratulations guys. quarter

Shai Lustgarten

you. Thank

Howard Halpern

towards projects starting with gross see margin So, on area back track do you the bouncing QX? in in back second quarter, XX% that

Shai Lustgarten

We the of happening. the finished see do already we we have course, that trend that haven’t do of trend. And don’t course, – sign but we see quarter

Howard Halpern

and you synergies see acquisition, side? with expense the Okay. you And kind what on side what you the revenue do the on of do see do see generating kind of synergies

Shai Lustgarten

On of and am the course year-over-year about hanging efficiencies that talking expense we will low create. side I fruits, not

make of sides to we that both merger. side, because cuts between of expense the $X about On see this million $X.X million can we on

– that, significantly will exceeding consolidated EBITDAs and already that the we on XXXX line, it grow firm immediate as look XXXX pro were $XX about we at that So the And EBITDA. increase the already to we’ll top But of you in forma, the to about million. that see, of course, if stated very number. bring it’s see

today the by we our under grow top the offering line your companies, and offer both So, to question the by from will offering. not will market especially products growth, both to to grow that U.S. do Dangot’s company, each the products portfolio

Howard Halpern

where they their primarily? globally they or located do customers well, customers And primarily – are are have Okay.

Shai Lustgarten

have Israel, global more in in the in it’s not but do Primarily they it’s customers, but Europe. U.S.

Howard Halpern

once A okay. runway Okay, of completed. to them lot it’s grow

Shai Lustgarten

Yes, sir.

Howard Halpern

the you U.S. work see Okay. as kind funds And as spend, to and or getting you weeks from to are is opening that – they deal are in what again, even do are of up last seeing? or the trends flow of and back governments what seeing from flow local the state you months have are what – number

Shai Lustgarten

safety see are significantly also that up, also not to continue only AI especially product see the go getting market. the see And goes spike. we public ramping demand, the Q products management the into up actually two but AI These the products, technology. that We traffic see the growth products the object products that we We already. identification Yes. on legacy demand for based a we that seeing have the Shield we

Howard Halpern

– being in of aren’t AI do able Okay. you guess, workers some your given – terms And as I people to. want as seeing workers coming chain your fast the capabilities established back of that, because in not fast, as supply one last legacy the as are business, they what them there to expand one,

increase how is workforce product on goes to time to as be and as potential? able productivity going your lower with So, take a advantage

Shai Lustgarten

glasses touch that and great we and that it people in existing centers, are we happening of the That greater detection can providing that distribution our This something with piloting customers we in actually products existing real-time either ones that like run, is that question, locations is are didn’t that need centers a also services we gladly smart warehouse together think intelligent are etcetera. because use in is just, that of the man decision-making. because use something strategic as but with to basically, located don’t all to on our is yard products either provide and we customers, about, manage are happening, state different to creating proactive started want automation, the with areas always that efficiencies management, our a machine-to-machine

actually, we better the employees a demand interest the touch to automation man. returning to of that our have that noticed work automation and provide standalone the becoming – without trend So, that same of of this not AI are increasing products it an in issue quickly, actually is the

now order the the to in benefits, correct to is and So, customers values respond trend really we them definitely that added need. and our a the we together to that implementations the that do with are field right see working show in

Howard Halpern

Okay. technology. Well, of going. good congratulations Keep adaptation and that’s your a

Shai Lustgarten

you. Thank Thank you.

Operator

Thank you.

comes with Please line your question with proceed Swergold Advisory. Mitch Swergold from next of Our question. the

Mitch Swergold

Congratulations Shai Good morning, Neev. quarter. great and on

Shai Lustgarten

you. Thank you. Thank

Mitch Swergold

little the attributable you I $X – was means you than on, recognize the how there if in are know because – understand, you that $XX over COGS could QX, wasn’t me $X million a million less in $XX backlog recognized. yet obviously we can help entering if help don’t million bookings what because $XX you for to just COGS that had you that also you quarter, correctly, see Can than versus to wondering understand million of the are that recall COGS timing over the million, I is recognize I us higher normally have to If the the please?

Shai Lustgarten

by of issue. that the the It’s in again create SaaS very not like margins COGS to to are work is The I are on question, mentioned legacy the and am still, announce revenue you like say our company a existing wouldn’t mix, build very fuel about higher. for implement business these COGS, not when majority are which which The projects that are items, way, the of because also future – announce our our the I our you – happy X.X, is products COGS we these your still the not sales higher. cycle and broad an large X.X, we large several do The we the customers. price compete you AI also projects,

got to price. little of a lower And bit sometimes you

you not wise, percentage will - higher, COGS up. go but they didn’t go COGS they – raise the see So didn’t the

Mitch Swergold

Got it.

over you recognition So that other of with respect the to which me sort bookings. how are that will does the such or be from the the – backlog can near-term with that time the or where contracts is enter those is QX you Is they duration recognized longer for understand in million work? that $X unrecognized help

Shai Lustgarten

going are to them in QX. recognized of that quarter be Most same

Mitch Swergold

legacy also business? And oriented that’s more great. In QX, okay,

Shai Lustgarten

but definitely our with growth with AI ones. Yes,

Mitch Swergold

beginning great paid Okay, and in wondering, of which the little your it low, is line improve capital you of see. credit, terms your in is coming that which the helps super. with working hand, I at liquidity on just bit the have your looks has And quarter Great what’s of situation to currently? cash or like gotten am that hear. cash to to a now down

Shai Lustgarten

fast use The line the how and million, – ranges we we the costs the And our paid we the lower nice is generates that actually cash, pay on prefer in credit. could. came $X between QX cycle, when Fortune that the which had line customers of down to of sales nicely, cash depending Cash interest sales time. we million XXX of on that to actually we because credit cash, more managed is $X in

us So, to quickly. allow do this that actually does

Neev Nissenson

line This for the is credit, the of Neev. to I in mention just available but was zero the balance us that still it’s want at cap.

to fold. continue will that not it’s So,

we still than at We but rate in past. using the are lower a it, used

Mitch Swergold

Great.

Okay. Thanks. balance the cash Dangot is on And you there acquired? sheet any that

Neev Nissenson

keep they they the order are put our that required Yes, in any capital similar current to we to cash be will out of in another they have a agreement, going companies not to have – to will way not support that. working

in are need of cash they the order that they So profitable, the continue operations without need to any infusion have rest they from OMNIQ. and for

Mitch Swergold

collections guess, early, better Okay. the I would number? this And already, have on that of we there been since halfway quarter this in first any reflect through are half current

Neev Nissenson

not am the question. I understood sure I

Mitch Swergold

XX bill it’s companies of be Often from XX and so with cash the might the quarter quarter. you did of a XX the your your than better day of end the out at days, paid end end at actual quarter deal position days receivables, within

am So, that you? has wondering happened for I if

Neev Nissenson

transit, end lot which also of collected causes was April. a definitely cash the It did. the a at of It the we one a in payment credit in have that the it quarter, of quite situation sold low, line kind of reasons is was where of

Mitch Swergold

Great, that’s quarter. a hear. great to on lot. Congratulations the Thanks

Shai Lustgarten

you. Thank

Operator

you. Thank

question. next comes Please from Partners. your Jericho with Guttman the Our line question proceed of George with

George Guttman

Good Shai. morning

Shai Lustgarten

morning. Good

George Guttman

not owner XX%, numbers, buy million, advantage $X would be am the save consolidate I other to me, or what that of and XX% $X company, be a all would new spend am it and and what to million? you wondering a good I can seem it the To As XX% would missing? buy idea the the their the

Shai Lustgarten

for itself added would it’s the XXX% value the very the entity, long it just our not the a it its consolidation with a company and market after allow million itself self just double to owning next amazing not U.S. company this do Israeli solutions. to company its is whatever and level and the buying $XX doing, to numbers. Imagine what the And We doing buy in company what numbers. We in buy bring actually or innovative would any not bringing consolidated in. for to of are of other much which way, investigation company impressive only with since growing, would the by how

So existing course will our and to it our we be of and the same to AI the all once penetration products to their customer option ability recognize actually double base of and not would execute XX%. that the consolidate these get numbers

George Guttman

appreciate you do Okay, you. the And thank uplift. call, expect And you you – still I profitable profitable last this answer. on also soon That mentioned you to actually said uplift? we in year? it new be may this Anything year. that sense. about the think makes hear an be will the Last that something

Shai Lustgarten

yes. year quicker. whomever we get are going plan. go quickly. regarding and this done done is And exchanges still before working to QX. is is see this the advance, leading up that not our are The quickly. execute with. with to is we Exchange according only That It is plan and there we get is New hoping update us, to track a one both up on uplift of are we to That’s to going exchanges, get still get it It is NASDAQ the and them to And Stock with to one to the are with aggressive on answer listed profitability, both to process York plan our advance

George Guttman

one time final question. and brought Encore. the last Okay, I up main

magnificent like down there can you billion. As learn stock it almost see yet don’t see be XX%, how that their is. how to absolutely Is getting our there, anything be doing, where where I mean after us as don’t are it could so has you shareholders? I job there that Because, stock I And a it I stock what see gone Even million. far from now they nothing is? could in to it done by a them our they your still $X it’s have $XXX is to could apply

Shai Lustgarten

as And We our whatever, do will from whatever focused other, targets our better. to looks our anyone, this also professional, our But way try is always, professional And work can any year. to are And our we PRS. these agenda, are targets. we would do unique we we absolutely. own forward a on for amazing better learn in team everything where that team will got mentioned, moving at we have better, I also, achieve laser company, we with

George Guttman

final shareholders in One question, to happens that IP one the an OMNIQ, have be of lawyer. I

you that? sound. what are infringement it’s as I Ricor of know patent Okay. has of your in he thinks it And the going good thoughts after cash? a depth, chances know may said he he getting But patent while have not for checked Since some process. a them case you and made that on into that are cash, long it against I for that in have I million it’s what infringement. we not easy $XX as

Shai Lustgarten

care. Ricor, have be the we company patents could and nine eye matter Motorola That technology, our name could of doesn’t the be that protect for

go looks care whomever we technology. breached We of we see everything. they got that’s And are going always team them. taking to IP will are patents expert that an our after that We at protect it. our And

George Guttman

be you, than Thank each previous better Have day. and hopefully Thank quarter will a great the quarters. you.

Shai Lustgarten

Thank you.

Operator

Thank you.

comes of Hori with line your Capital. question. Please proceed Calvin Our question next with Hori from

Calvin Hori

range you said now? that of small numbers that know the give I us like the Shai. XXX%, right of some piece a off business kind but for you Can morning base. in obviously, grew Good quarter Hi. AI

Shai Lustgarten

are doubled are last the exceeded but million, are $X.X we came and from year, $X.X orders – million. that actually at compared we that we million in, looking looking like QX of Well, at to at the $X we to mentioned

would quarter we and we products. I will Again, So, we but completely, see now, trend growth continued say the open the be still that in the a growth we stability is we expect numbers up to But smarter still opening definitely probably market – our by advancing. probably And get market – able also good next is say are quarter. of that And up AI again and be the this saw is we next exceeding the that. the QX. stabilized and will not of to in we quarter end backlog

Calvin Hori

Okay. Dangot, what the And roughly? on are on EBITDA the that margins business,

Shai Lustgarten

between And GAAP XX%, cuts about million because hanging EBITDA $X non-GAAP audit the we so I because a And is an them when bring would I audit, as auditors with hands. are does including again, is a we their gross the company our are fruits, till that’s they conducting to say million. in definitely that discussed. an so say we that why, low we wrong think by were to not Non-GAAP as that profitability are and $X not in good again, firm level. public is that But these company, private even that we numbers – of

Calvin Hori

forward did excess in is year half consolidated everything XX%? see second Going the of of margins XX%, maybe you the gross once the combined

Shai Lustgarten

That’s definitely Calvin. plan our

Calvin Hori

Okay. And a are you your or is going get going concern to there – in not XX-Q?

Shai Lustgarten

we that the implementing of Hopefully, off of the plan it as better. we stronger successful go – up. that like We very what now. The view seeing that books. our the company They we beginning year, auditors parameters They the and well, elimination of base, are doing. that it gets getting stronger the are the auditors discussed be are our to That well, positively. working on concern. aggressively supports as have are assets And the going get support at part will in

Calvin Hori

Okay, looking this be will this coming further then acquisitions or for year it up you? is this is there any forward

Shai Lustgarten

happen may I year. Well, this if don’t know anything

generates up-listing. got have work We $XXX got more is company profitable. lot our hands get to plan. a focused at become finish. on want to capital. plate We than be we what our and done. we got And on the organically to double-digit to always to two laser That’s million to are to look And do. our got strategies We do which we of that That M&A. it is We grow,

got it, So finish it the we have mean, their we for opportunity we comes in, bring look for But to analysis. advanced have plan, to our I whatever to enough. observe created will and we Board work. think at I now the

Calvin Hori

some stuff nice announcing on. month been the a from or haven’t so. have orders the you months few of still heard and last the There going anything during mean, past lot is pipeline in you I in Okay.

Shai Lustgarten

wanted First really yes, to acquisition. we this second, finish because

Calvin Hori

Right.

I have Okay. That’s all now. Alright. for Thanks. Great.

Shai Lustgarten

you much. Thank very

Operator

will you. Lustgarten comments. back session. Thank Mr. any our Ladies for the that turn gentlemen, floor final to question-and-answer and I concludes

Shai Lustgarten

Thank to Thank for and for speaking your you, Thank you much end the looking second an for keep all the of to operator. am Special with doing forward saving. thanks support. all amazing job. OMNIQ at I quarter. you the And in quarter team so you

Operator

this Thank and conference concludes you. Ladies our call today. gentlemen,

for you Thank lines. your disconnect participation. now your may You

OMNIQ (OMQS) 14 May 212021 Q1 Earnings call transcript