OMQS - Earnings call transcript Q1 2022

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Operator

Good morning, and thank you for joining us for the OMNIQ Corporate Update Call for the First Quarter ending March 31, 2022.

Joining us today we have Shai Lustgarten, CEO of OMNIQ, who will provide an operational overview; and Neev Nissenson, Chief Financial Officer, who will discuss financial results. 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. All statements that address expectations, opinions or predictions about the future are forward-looking statements.

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

Shai Lustgarten

joining thanks operator, and Thank to today. you, on everyone the call us

with combined achievements. QX pleased very our XXXX you are results financial to We recent some share with

solution define solutions X, Dangot market. revenue to momentum. AI to with April taking The on revenue critical QX accelerate Revenue synergy the U.S. to OMNIQ’s in company measures On Computers. and Here $XXmillion enforcement of increase in exceeds joint traffic is annual XXXX. of generated sales of of sharing. for months the cities. are near AI municipalities of in OMNIQ’s the Innovator compared East the contributing profit and what XXXX. technology more signed the based an as to $XXX Shield in XXX% cities immediate momentum projects compared run on International XX% gross the six as coveted seven already terror million. performance the acquisition operate is a based profit, and record experiencing with company XXXX, to prevention. the of to solutions recurring reputable X% Dangot public gross QX Trailing have Middle to further in company Philadelphia model compared are Q improve XXX% flow contributing Gross cutting-edge with the the sequential to QX in U.S. Q of Shield’s pipeline. that aiming OMNIQ’s revenue future. the agreement revenue OMNIQ’s is Airport. with positive of and law QX OMNIQ rate we spots XX.X% Uber recognition, with on contracted offered South results in over completed over XXXX, profitability AI more significant in revenue many XXXX The AI to is XX.X% Award safety QX impact in such America in increase for growth award as previous Along margin OMNIQ a improvement reseller

start a experiencing XXXX. of are We great

focus remains and of infrastructure OMNIQ’s Q of deployments AI the products, Parking parallel financial on automation sales sector, in sales increasing stronger. supply Our chain Shield’s growing our OMNIQ’s public Solutions, making in safety

our demand We products are and in verticals increased markets. for multiple facing

public secure safety enable systems. life people our is for and using improve to to quality mission help better Our efficiencies, of

Our hospitals, others. supermarket major customer the most base includes demanding security agencies the and customers municipalities some world, including chains, in of governments, among

that recently VAR’s believe we on market reputable we whom a and as our Following first of systems, Q indirect Value Shield we Q growth focus with important continued the we Resellers, of accelerate signed the the our channels, success sales potential. Added with sales an consider an agreement turnkey based installations engine Shield with of AI endless will partnering VAR

million, the in results, be all continue note These in focus in further gross improvement and in $XX elevate resulting QX we to Achieving $XXX profit for future. over to fulfilling to OMNIQ trailing our plan efforts we revenue while stronger new into sales run confident improvements addition our rate million, to In and of revenue parameters. the annual financial strong months spheres. feel our six of will near

now a results. this Neev? turn deeper over Neev let I our Before financial take at to to look further, go me

Neev Nissenson

Yes. Hello, everybody.

revenue Shai the As an XXXX. revenue ended we which $XX.X in of million financial of July Computers, Ltd., with first XXXX, highlighted, our XXXX. from quarter for increase of OMNIQ million increase reported in the XX, March quarter the XX% Dangot $XX.X statements The reflects acquired of consolidation

a of loss of achieving Adjusted $X.X of Taxes, XXXX, XXXX XX, during towards million higher for $X.X compared Interest, in March markets. as XXXX EBITDA XXXX. quarter loss a as customers million see a XXXX. $X.X from million, shows compared were was compared We adjusted Cash Total $X.X an first $XXX,XXX at a Earnings $X.X well Amortization or Before our continued also the share the Depreciation the Net a the was in meaning expenses improvement quarter quarter first the the basic a the traction modest demand operating with basic adjusted quarter to certain to per $X.XX of per quarter loss loss of in quarter which last quarter share year. of for $X.XX of XX, loss million EBITDA, loss of or first of with $X.X with million $X.X for amounted million, compared million balances for December first profitability. and on

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

Shai Lustgarten

letting and It in addition offering a to market. customer differentiator exceptional stronger existing U.S. products safety, continue planned creating OMNIQ, Computers product the OMNIQ's QX, relationships Dangot's in customers. quicker, stickiness products acquisition Dangot OMNIQ to allowing of existing firm is OMNIQ support AI targets in done execute a us implemented to with broader increases a efficiencies, make footprint expand based better larger start OMNIQ and Dangot’s Shield, too a This we in possible solutions. XXXX, progress. In further industry, I'll infrastructure our Dangot’s year. cross-selling OMNIQ's a XXX%. with its our create step and the was existing turnkey Thank objectives. with that position concludes products an our strengthen quicker forward enforcement a starting to XX/X great what update provide increased we to process significant you, now offer announcement acquisition Q we've combined customer QX existing executing another Neev. Dangot new identification to thus our a base before. Also, infrastructure, risks, for a than OMNIQ's significant and to for and complement was for which gives on visibility AI ownership that the as earlier have to services is us revenue now and customers to This that had the of system our offers

a now of with is through with revenue contract offered to to universities, upfront we a cities announce the citations safety Shield schools, As added cities and dynamic happy you a months by of since Shield ago. percentage costs focused our might empower am cities point to municipalities, our collection. repayment totaling only under on community a our centers seven unique starting become and that to cities list municipalities recall, specifically I market We Q product little public had two share worship. and few deploying places Q to of cities model, more we safe

and of the crimes how out friends, Q force major a than years to children, that in Q it be additional in. tens a people, day turns aspect. see more Q of even investigation takes for for and Shield safer affecting multiplier, of to assisting us, of to even untreated indeed families already safer law first our game making lives Shield everyday started more indeed an tool It a Shield our live making a care delivers But municipalities its we promised quickly are We from deployment. very starting the on enforcement in streets problem. residents, and is place furthermore, many of happy solving significant changer learned

years, a proactive analytics the law creates It on local the a as is second it unlawful visible. it's all short visible. Shield, real of Q of federal individuals. month time Shield behavior investigation police utilized from Q by solve possible turned alerts, actions takes programs drivers. a first nationwide is uninsured designed local and enforcement a law on. crime a and to a For enforcement the and violators machine-to-machine dollars made this effective. Furthermore, such unbiased agencies. as or of risks, of month make unlawful only amber care proactive as are and are Shield time tool are behavior vehicles other Shield’s problem the for capability of not also make solving. lookout and in a that Q on individuals significant Q by in traffic Shield governments change products spent in in Q that Billions unregistered, enforcement only a notifies anyone the to criminals, trying fight Shield Q

continued our city We with deployment an in QX. Shield Q additional

Our to growth we Q pipeline with had and as large of this Shield will engine cities continue is planned. deploy we

industry. about for product growth as parking Now a the the products We industry. our focusing parking in see on the demand word well our in

as As the the sales starting world see product. parking growth evidence are and backlog markets in exits from to the in our the rebound. for We pandemic, this the

to due industry. the Specifically, the as the solutions, demand The OMNIQ's business to customers sales see we seek this parking line. in sales will and airport to our parking industry. we unique grow current Thus, AI believe continue in continue and our growth to annual growth well to offering in for in we opportunities

of one like in ticketless, cutting-edge is is services board proves plates, portfolio, assembled is product need provides in PARCS. parking education In we Q-post, with of kind investments revenue and together flow OMNIQ jurisdiction, example, is traffic. significant a to control us kind and field, which the access advanced offering OMNIQ's gateless recognition server and system security grow control of vehicle We installation market. good remote Our introduces industry and cloud the our significant rugged offering already a a products, one making pre-orders day fresh, technology our brings air the with of for our plug-and-play more follow. our color product night It product. the and control the used as vehicle for to industry, orders product. more to and for better one its our offering a and Q-post continues easy-to-install state, that recognition costs. that over and received had adding the Q-post reduces expect a It that in Q-post newest sensor universities to results parking solution To to

whom In growing offer addition, our OMNIQ's need control solutions from Machine powered Vision. to we by we enterprises see access

visitor OMNIQ's enterprises, time proactive many solution. and the parking It such analytics with security provide vendors', solution a vendors exits management Our automatic involved system done reports. visitors module, with better employees, lots, and our as eliminating with It user access scheduling with manages and processes processes control the app. machine-to-machine experience a real automates offering manual manages and entrance visitor manual

enterprise control will the Today's game a access threats is system that become a growing changer scalable access reality. management powered real OMNIQ's challenging to Our one security in enterprise as system the is is engines. by growing that company's solution of product well, relevant AI and and today's an global management It enterprises. are control is It answer facing technology organizations growth for these modern time threats.

business on Now line. chain supply to update our

our vast we started offering customers. and growth profit our last get services our by all complimentary We and ones, our revenue, expanded services in margins growing the to backlog. two realized thickness demand offering XXX our product by and parameters, Fortune customers to years, creating more better with As in existing seeing continues

scalable our which our customers considered machine We continuing by growth we once the XXX this supply as item channels. engine, product, continuous Fortune our barcode with start technology, exciting in most legacy are and scanning is update all taking core automation new business to that reshaping in method focus our today to the of a in A AI related new business in will XXX to have brief a solutions. our And replacing a business our strengths, vision to and one chain need now used excited fact patented of line. will unique line All our line identification significant well customers creating the be us. become with of are OMNIQ machine technology, patented with used vision Powered through sales Fortune differentiated the a offering growth and shape trust parameters.

channels. in bring our channel, channel. resellers potential became sales with to our We AI continue to invest solutions establish in one in when team sales sales our offering direct our the invest huge scalability, our From value sales to channels direct it. we VAR product, of strategy indirect opportunity each started sales realizing first started and Thus, a we the first added and and

let VAR’s OMNIQ's significant and realize sales. and the in is we with an scale Shield a signed We forward our VAR market Q performance to sales. continues partners, gentlemen, in Our We demonstrate today ingredient potential. partner, unrealized a agreement XXXX technology the our our in Ladies still will accelerate are continue sauce significant us that investments recently pillars strong. believe OMNIQ pillars, bring market OMNIQ's significant potential. the need and will and these unveil team, what product growth to will Continuing and started a

by breaking see to our to our revenue growth. increase in demand product and continue We record backlogs

a our to success. with better hand-in-hand towards investments focus in infrastructure our combined XXXX, annual is OMNIQ's us in deliver and what clarity brings that pillars continuous financial today will achieving This objectives. our firming continue We

like and now as not customers I'll talented to at call OMNIQ devoted team Thanks over over Operator, our well turning continuing shareholders loyal professional the and least, your our both Before our for thank questions. to for supporters questions, Dangot. and to and support. our suppliers to last other but employees strong and turn I'd

Operator

floor coming question. your Street. is for Lake open now pose questions. Instructions] Jaeson with is Your Schmidt question [Operator The Certainly. first Please from

Your line is live.

Jaeson Schmidt

my guys. Thanks taking for questions. Hey,

start When cities, to to all you rolled new your to Just kind on with be want up number adding out? is expect now comments fully two those of that would seven.

Shai Lustgarten

for you Thank Jaeson. question. Hey, your

cities, different weeks all are months two course three later. deployed. I'm wrong, them seven most of we – of mean expect we next So for earlier all we two get I probably if in but processes, there the – or for expect the weeks could If be to

Jaeson Schmidt

Okay. recognized you AI you in That's sharing QX? helpful. And much would revenue mind how

Shai Lustgarten

to XX% Yes. it getting we be is saw the that It is than and more before. growing

you be QX. better see that of plan, so we trend forward changes spoke quarter, last about remember, mean our if objective course, in first to get we call that's about was our we basically, that So happening reaching feel – it'll our and if to about the happy it. again, And XX%, we the good naturally going I nothing We're as objective.

Jaeson Schmidt

then just back one And last for jump Perfect. and Okay. the queue. me into I'll

of mind to think Just want profitability. expanding should that to regarding improve comments your taking cost your how in Would we that? on about follow-up on steps prepared Is remarks you sort that? cuts or

Shai Lustgarten

down four that to able the Well, accomplish objectives a we actually. important down. important right we well had that balance we're One mean had and end two note April, QX we've were I in the which main paid – that to many we of that. to were We QX, on going there right done objectives for do years, we able really zero. beginning, said, sheet, pay to in the the was last we after

So thing that's flow. one and our betters cash that assets

that objective we on commercial from more is away were we as we which well, Another we've that paid we rates reasonable another on financing and That previous had from relationship used, bank thing high down replaced a had with something factoring get worked company and that it any gives to able much we've of inherited that interests. we to us with that need. management is we a that zero a interest

done. we've main cuts these basically were the So two

will can see revenues, procurement. and are more we actually be cuts in but as you on cuts – more course, in margins more on on The Of like we on working focus more all operational of growing personal, operational not of see, will the is we're people, efficiencies you course, focusing but efficiencies. time the grew focus –

Jaeson Schmidt

sense. makes a Okay. lot, That guys. Thanks

Shai Lustgarten

you, appreciate support. your Jaeson, and Thank

Operator

a Penisque], question Please investor. coming from pose question. your is next is Your [Hella she private

Your line is live.

Unidentified Analyst

Hello, quarter. you. Thank Shai and excellent

Shai Lustgarten

Appreciate Thank that. you.

Unidentified Analyst

Q Thank revenue explain Shield it you. Can the market how you works, please. and questions, the the Few more potential system, model? about

Shai Lustgarten

or select in system two, places an have a so deploy we the one, what sensors do limit in all, matter course, but with four our night actually process. and the don't to select at the to intersection, Q of intersection consisted and it, weather the that. we first, intersections a deploy target sensors, Well, deploy that Absolutely. vehicles. system day the first Shield three and city All identify the that time locate typically we speed, does first We from we the Then is, vehicles that – initial can is city. We that's of our or of day doesn't conditions.

that receive to vehicles identify that through And law allows that, intersection. officers enforcement all once we AI the notifications. So we pass the do our

on vehicle enforcement amber and exists in the out example, risk cloud, other is there on security for match vehicle vehicle, a up whatever an is provide alert, time. what's it in real or know federal then the vehicle law that if notifications involved we – any or of For police to if in by if reason, whatever database that on if it milliseconds allow local is lookout agency, stolen happening agency, that to the XX notifications or

addition to, us is uninsured, that is citation actually. And and now that are started citation on can also with. stands basically procedures. and if what we a process course example, the system we're there the paid we we that person. or is type do our unregistered court notify, a regulator unregistered citation from starting of is belongs that who vehicle We of to a we getting That identify, There that actually gets In through automatically well. two is but that or adding that to that unregistered we alerts in for these now And out that. uninsured. – goes send And and automatically. vehicle XX is through these are we know are security works notifications, the as work violations any provide vehicle uninsured to that identifying And

out are goes XX% the ranges We and payments to take between go share the that the citation XX%, through that we revenue the to that ones above anything a of and city.

also they generating does our what but a do enough course, law and is to to enforcement have major real basically things. because for by force monies only multiplier with of And keeping this their officers communities generating officers streets resources, to not go Q safe, So Shield is need dealing helping back they that don't be communities.

missing go them investigations, assist tell resources So and community. also to the back persons, solve that to we not provide only we but et them cetera, how

Unidentified Analyst

do How this grow plan amazing. you in That's to market?

Shai Lustgarten

are with So our is the we sales that cities would say to lot from from I we mouth, lot course, came and first seven many of and going – started our right in Chief a is talking of sales, of it pipeline these that pipeline. because which Police a It team of these direct getting out have more are more the towns to that it. the Actually, – XX is each in than word there now came great other. several these in

opportunities I have So us. partner to number us several cities that exclusive of cities need significant serve say it's Q XX,XXX work they to already additional customers. with that value the the market Especially, and many signed they're a to to recently, would the and just Shield number with And their in VAR’s, out provide they get provide offer us board to it all signed want don't getting reaching to But that to with which of establishing. very a reaching significant we vibe reseller, we already agreement the U.S. These channel added lot indirect are us on have a cities. and really we municipalities sales because nationwide. whole they good the us Added that makes started definitely for and Resellers. Value

Unidentified Analyst

the American Great. what tell project? me And one is last about thing, Can you more South it?

Shai Lustgarten

Yes.

for over continuing and taking Safe that with additional South coming is ago, a City did a America to partner into we a there. year and American in orders It Uruguay. expansion out city in actually we and additional cities see the effort nice project that, did is in we an project, from several expanding a one the cities, year-ago, started about development South from half there a now and

there, very in continue working partner Resellers with as Added ourselves would there local a increase serves that as that reference South good foundation we So market with well. Uruguay region. and there partners to Value the And in American

Unidentified Analyst

very you Thank Excellent. much.

Shai Lustgarten

your for support. you Thank

Operator

Taglich is Your with Howard next Please your question pose from Halpern coming question. Brothers.

line Your is live.

Howard Halpern

guys. Congratulations,

Shai Lustgarten

it. Thank you. Appreciate

Howard Halpern

about in will I Is reduction results cost talked the streamlining, You just sales? in we a process or the – and cost have begun of see swelling you of of that that guess, process procurement. that

Shai Lustgarten

assisted it's the see it's since OMNIQ now. Yes. that we last something recently many right, Dangot reduce more every the different than we which four at are acquisition select will the today day bottom didn't recently. significant to of Obviously go down And number, is in that we it that procurement working opportunities from before to is more first is but that well, partners in to now we seen what years, line We due that course. of start Computers something operation, penny large, happened we've on as a for saw single we've getting the what have efficient more

as that the space. we utilize databases have crossing different us many in of well here. on all in us and assisted directions vendors that really that same check information together And they have similar now because also lets So

we happening is that portion of So the your see to answer yes, – question this question, And will your year. where see. that second basically you'll

Howard Halpern

closer even that revenue, year? second actually XX% and XX% the guess, is that is are move I margin, three of yourself is half margins terms Shield – above gross ways And to see Q looking at when to of and going gross once the occur the Okay. months of the to in one in to in we're profitability probably generating best hopefully deployments start which towards

Shai Lustgarten

just streams in directions almost I directions are after Shield, that started focusing mentioned, already the the company different see on. are These We've revenue we're but XX%. with going As there tandem. that is Q

– AI comes about question it line product is answer chain line line, supply other that services all enlarge call with, on we with there. actually we very our actually Not is focus as provide in – is affect the business to stream, going which that scanning as that the chain attractive products to and to our of the customers margins to we to will This our our the only the refer revenue XX%, huge vision That from used will this by from mentioned, the your reshaping all powered offering machine what technology. supply product, patented additional I software changer it AI and today, on that, that game we're comes reshaping, business that legacy services replace put most probably that becoming that actually even anything the very the exciting. So parameters.

will and Shield Q that we already yes, happening from this growing, Q from year, is of see and course, So it but other Shield it's will business effect come lines. the

Howard Halpern

that And being how that the How going product? and is is the has of deployment into Okay. Dangot cafes received? the how

Shai Lustgarten

a generated mean, stores. we actually, There – well, we fully go working already that prioritization. an didn't thousand expanded mean, But lines kiosks – because kiosks. see focused you that business team that order established and we and for a these yes, can't can yet, received only by I Very I we additional different you the we've are on say really XXX% into I

from U.S. So that is customer. a

is a there professionals growing received So good added operation very the It where something over be that us lot it. and with that that at, well, are we which significant many minute immediate very, something but we really very affects effect, places first again, gives suitable a values work their solution creating it it competition that they exist, is and – plan, come and is is doesn't more even well. because give of great is will in much a also

And received the So and it'll all but in positive do it to it's much steam more started, already that very even company so and XXX% not change is yet create ahead. and know even profitability, full parameters I well.

to looking received this changer really question game is making your we're and well. a forward So as well,

Howard Halpern

you how get the and one And how to opportunities? to a Okay. at pipeline training one VAR’s think them up for question, do long you you that develop final much and take the have up for it'll do of least and running do signed

Shai Lustgarten

We the depends week week already very with. one and It we visiting half a VAR, ago recent seven on signed quickly. and just we're about the did like a them sites this

the Value probably average Added on with. a again start at us. depends take Reseller for most someone we work Added providing that'll that Value An is Reseller opportunities it month the So to

Howard Halpern

Okay. the keep up Well, thanks and work guys. great

Shai Lustgarten

support. you, Appreciate Thank sir. your

Operator

next Your question. from your Local]. Acquisitions is question [Moran Please Pober, pose coming

Your line live. is

Unidentified Analyst

congrats your Hi, on great start with, Shai. To job.

you question of you first explain So my is size can the the market sell? currently

Shai Lustgarten

like the that markets itself $XX changing we significantly, measurement, I is $XX Shield that. number we just and their I to that really for by well to XX,XXX billion, is technologies sell started cities as The us, Q like applicable very about hard, mean, just what that example, size is billion, low, would but say because it's

these next give see reports years. So especially view numbers there, that these to as the at grow we actually I with don't billion, want you something markets we three the in expect to analysis that but the values growth that it from to $XX is least

Unidentified Analyst

capital Okay. raise plan Cool. And have future? in do the you to near any

Shai Lustgarten

No.

after acquisition to $X support acquisition the and the We cash about have and still the sufficient funds our can is sufficient funds. you and post that in for see equivalent. said, plans million we definitely like I year. And growth Even have we as have

Unidentified Analyst

great up work. Sounds the Keep good. Appreciate Cool. it.

Shai Lustgarten

Appreciate Thank support. you, your sir.

Operator

Williams from coming next Your question. is with your pose Please question Instructions] Associates. Friess [Operator Matt

live. line Your is

Matthew Williams

will first here, Thank this you. equipment? Hey, the is – or to the wanted of I installation is reseller role their but sales one Shai. of on couple help questions in Q the I got a process Shield, they

Shai Lustgarten

Yes.

that. in So of their as well installation – they yes, take they their but teams have main role that care sales, role will is

Matthew Williams

the well. then seasonally has year growth Okay, the color for opportunity as to the nice the your through as go quarter? you which could particular, a in we rest share relates And just on I quarter of wondered sort down if historically of and great. QX, sequential And growth growth a in been calendar view sequential in sequential some as it

Shai Lustgarten

we I from that different lines that think the I the to don't think of move seasonality there or – company. the because from getting business money moved to away away and operate bring in that

well. good growth at seasonality. at from to see backlogs for think quarter-over-quarter, on spoke getting to mentioned And that And good our parameters for not many the And for XXXX in projections understanding before in in we like away we is from our which the look the and I us the several also we year, gives year. that call, least year. this are see are continue currently, sequential of growth at I a also of only to look we process the achieving times the So like revenues objectives as growth sensitivity measuring the how feeling in we

Regarding the as quarters, again, challenges calls QX. supply well. challenges, are in discussed continuous of There chain that we previous course we've just started

but we forward far to But quarter. So you we're going going more any good continue and meet these going case, like color achieving about looks feel the forward. to on objectives our And well. able we that overcome be as to in all challenges continue never I'll from as it parameters within them we're QX think – know, very and the provide we measure, is we

Matthew Williams

through of final OpEx upon year? how color better about one-time internal line, touched don't Excellent. about million one that I investments we you $X as now, of could know, both the think All your year-over-year. question, is the us your know progression we – related? and but is maybe some $X moved up OpEx I at looking but SG&A right. increase some this million external, in then for line year-over-year And And just the also continued sales you on anything might then give just

Shai Lustgarten

added we expenses we in have so that basically did didn't was Remember well, company, Yes. SG&A mean, one-time that a main added – right? as Yes, I increase. that's the reason. that the new have but remember we last we our year,

Matthew Williams

it. Got

is And the so should a incremental go what the we or rate continue to be grow? will decent think through that we run as spend this year as we maybe

Shai Lustgarten

we're something cuts something in also would And make even not will are to our find margins. now looking that the the but be we more at this growth say for that yes, say, we not sure expense do. is would of efficient and in, I relevant contributes that lines always like it's to I to course, that

Matthew Williams

Appreciate it. the Straight quarter guys. Got time.

Shai Lustgarten

you, Thank Thanks for your Hey. support. Matt.

Neev Nissenson

Just color it. add to some

a have QX of a some example, trending company million course, relating we've million, as an down big acquisition statement. obviously $X.X joined million, just Q our to certain expenses QX operating whole actually so $X.X expenses added QX there the in So operating financial Dangot, new expenses But since the $X.X company, QX. and one-time was QX, and been in and this that

Operator

to There closing the be at remarks. any in appear questions back floor to for over I queue this like no would turn Shai now time. further to Lustgarten

Shai Lustgarten

you. next all I for thank you all your again, you and hope this in Thank participating forward. you looking to for quarter. So call. going much on talk support thank be well forward I you the will very to

Operator

does This gentlemen. and ladies conclude you, today's conference Thank call.

phone at lines You your a participation. you day. your this have Thank wonderful for and disconnect time may

OMNIQ (OMQS) 17 May 222022 Q1 Earnings call transcript