OMQS - Earnings call transcript Q2 2022

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Operator

Good morning, and thank you for joining us for the OMNIQ Corporate Update Call for the Second Quarter and Six Months ending in June 30th, 2022. At this time, all participants are in a listen-only. After management's prepared remarks, there will be a question-and-answer session.

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.

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

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

Shai Lustgarten

and XX% six-month XXXX, quarter's Sequential everyone XX% the $X to our on XX% six-month positive to OMNIQ's $XX third with of combined you the on million, AI-based in of million mainly restaurant marks call quarter of the the The results keeping which due second revenue the second to us integrated pipeline. XXXX, six recent of with to up today. pleased more growth is record $XX joining months' global thanks run decrease to another deliveries. chain gross momentum the the better the of in in in an a marks second experiencing XXXX solution. revenue same the shortages the already recurring revenue our are QX XX% million Shield, line our XX% with another rate Gross of following $XXX the markets and quarter's increased QX quarter target. revenue profit XXX% company's to contracted revenue some compared supply months per of compared target, growth annual retail XXXX, margin XX very municipalities for operator, line share growth Q strong QX is period cities margin you, in as compared breakthrough QX and over getting in strong are XX% offered and based of to Revenue the to increase Thank million. with gross solutions model achievements. financial enforcement We're to up profit same penetrating AI the compared six have in to the with in sharing. our law XXXX. profitability the in over US with

events. the assisted machine million $XX AI solution. has to of highlights technology, we its On selected X, announced City recognition based for that Adrian, deploy been June to law announced AI-based company receipt of supply America. return cognitive the XXXX, Georgia allocate we XX, On a home impairment. of of cloud an for vision customer order Shield to June system, from men system announced chain IoT XXXX, system order Israel and XXX Here XX, the the South On On enforcement memory XXXX, receipt elderly of June AI we government Dublin the XXXX, a solution. our East purchase the of vehicle the announced in suffering recent are Q Q announced XX, our company some chain June receipt platform. April its a in million citation of XX, our XXXX, Fortune it management from supply from the deploy its On order Shield and by $XX IoT that, based

cities constantly municipality street in in keep with Our Q installed of is deploying base their a increasing growing Shield safe. number hand-in-hand municipalities interested help their to

some momentum limited macroeconomic quarter's strong, conditions, the supply second prices that remains the significant growth including despite deliveries. delays achieving Our the chain in caused

a customer automatically information, provides will solution vision. strong strong are and OMNIQ endeavor management and and our OMNIQ's restaurants technology deliveries fast food began markets, unparalleled. innovative historical total unique which saw are we proprietary restaurant When and and our in a a We better AI technology customer's decisions visits. enforcement each And value our on retail interaction. market. dynamic part entering provide customer the fantasy, while location, in based vision OMNIQ growth allowing for solutions, in value our provides each knew be to some nutshell, will consumers. into our to experience, tools two relationship consumers' each solution space, To With have of customers mega security utilizing add improving would together understand food consumption system, and the Q we CRM, describe is backlog retail by saw this service for customer seeing We habits, technology solution their adding restaurant and unique OMNIQ’s Shield we to with records retail machine the of QX. improved orders revenue our fast real-time resulting in consumption

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

Neev Nissenson

Yes. everybody. Hello,

were in The reflects of consolidation $X.X revenue June the strength quarter for XX, million, quarter continued $X in of second as per well XXXX. $XX.X as balance June to for compared $XX.X months Dangot period $X.X $XXX,XXX second consolidation Net increased loss XX, we a certain of to market. XX, to Total interest, tax, expenses. reflects XXXX. non-recurring for quarter million share adjusted of and three a XXXX, ended to was the the increase well or quarter is EBITDA of in second our at the for compared of million a the compared XXXX EBITDA, of ended compared loss million quarter amortization loss quarter on traction the the that Revenue second of share of $X.XX reported earnings loss our or per ended increase $XXX,XXX XXXX. combined June amounted XXXX in for with of As Cash as which XX, an million $X last before a Shai million loss XXXX. quarter of million of the with loss $X.XX $X.X expenses highlighted, the of from in as XX% December $X.X adjusted a second year. meaning was Adjusted million Dangot depreciation operating an the

to OMNIQ XXXX. the Turning reported XX% ended for six increase from $XX.X that XX, six-month the an same $XX.X results. XXXX, of of million months record June period of revenues the million in

in with months the for $XXX,XXX the were the compared loss June six gross of last Dangot in billion to XXXX. of year. that grew operating six acquisition for in six XXXX months months the the ended that XXXX. of Computers, with of period remaining compared share a or for months same ended do was Adjusted a million $X.X the XX, and in $X.XX XXX% a six to months first we last wish $X.X half Our loss loss XXXX, amounted April, of million XX, in announced with we shares EBITDA in share $X.X $X.XX a XXXX million EBITDA same $XX.X Total June to now the I that period of loss $X.X a compared loss first of XX, million adjusted XXXX expenses of Net Dangot. compared point per profit per Ltd., an $XX.X basic out as XXXX. the June June or for of $XX.X million XX, million ended basic ended the of own the result, to that six the loss

Let's to the to about call talk chip. Shai now more turn over back operational

Shai Lustgarten

you, Thank Neev.

Neev Nissenson

Shai?

Shai Lustgarten

Nev. Thanks,

deeper our we To customers. the new to lines; prove Los Forces, Geodis products the We're our existing increase, Google, as Angeles Our Hialeah, automation, of being most partial sum and and on such loyal the JFK, are invaluable and We will list base, we Israeli AI-based Chicago, to three many operations continuing momentum Safeway, airports on wider only and are a McKesson, our solutions Foot trusted and innovative Ace, assets Locker, by I Veteran relying [ph], up, as showing of management others. Defense most sell business an others, each customers. – through our Abbott, important cash sales our municipalities model, LaGuardia, the supply customer and that business profitability of smart the AI and Miami, the Salt demanding City growth. which proprietary once revenue Airport, solid technologies, mention in Ridgestone, generating This top deployment and again Israel, a one it continue and few; better and of Cito and segments to city many penetrated. Government chain Bayer, Tel of line IDF such traffic focus fundamentals strength is police The business Lake Aviv, chose

opportunity support as but this continued would thank for to wish and thanks thank would I'll the time now our professional devoted to Last other I turn continuing Operator, team customers strong you employees. loyal like to your and like over and well let our this turn take to OMNIQ's not we as supporters. all questions. our me extend also questions we As to talented my sincere for success. shareholders over now, least, suppliers,

Operator

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

live. is line Your

Jaeson Schmidt

Shai, want for question. your Thanks I taking of supply guys. sort the to chain headwinds comments QX. on my follow-up on Hi, in just

how sort in supply improvement expect quantify about back half year? how chain environment could going here you that impacted much guys if any Do quarter? the curious the you And Just the the you of guess thinking relatedly, in are forward? I of revenue

Shai Lustgarten

Jaeson. of I this can mentioned Hi, much like is tell you how that effect would also so we call quantify, of to question. dollars, Thanks last we the To your couple it. limit for several millions about

in We it course, portion the the this back right how and to this much we month-by-month of increase stable, quarter you this quarter already delivery peaks expected we the several And to seen like more we half. see that, not in would this stable challenges. Of discussed question, forward? that and gives see much we better quarter-by-quarter see us our to quantify if be we we when fulfillment on do our improved you positive, the of this rate, call, a last due add But also see the is backlog, last quarter, we've quarters had challenge. course, better this see of going revenues. second third how second so these deliveries and again, view that connects like handled going your and I is now, What say, that to in of

Jaeson Schmidt

helpful. XX look I we cities seeing Okay. you cities that year? And out recall maybe growing second you've XXXX? how And How half under really you contract. you're in That's many seven that's of had if space. next contract you this transparent correctly, end could obviously, said by through think pretty I we year, can in And contract look the that be around of should under traction some to really mean, about guess, I heard as those forward, up the I QX. from been if under cities good if

Shai Lustgarten

to deploy the continuing cities Q of traction positive cities we're So Q the we're Shield. see yes, in and to Shield very of deployed -- interest

And You're -- been QX, were it by QX the The cities the way, are have correct more. numbers. because it's not could versus definitely not there. there. about the not even cities

and doing today we started XX are To if by because this more we year, We sign, answer product, this this next I mean, XX you growing how we already. cities have much -- We're actually, really than about by did this we year remember, really cities at of cautiously look at should look what nicely. it's we we January least should can XXXX,

Jaeson Schmidt

in jump chain I assume helpful. supply to Shield last to the continues and in some kind No, that's even inflationary of AI to Q light as I'll Okay. your overall me, portfolio and these pressures, one really ramp And queue. then from gross levels? of of would continues ramp continue margin should for expand back the

Shai Lustgarten

already. that saying in on we've several for been Absolutely. And line this with is we're what exactly calls focusing

the and seeing that more should are increase continue the we margin increases. gross one is in we all ones, So the seeing parameters definitely, and important of

Jaeson Schmidt

guys. Perfect. a Okay. Thanks lot

Shai Lustgarten

you, Jaeson. Thank

Operator

Pinaki is [ph]. from question Hela pose your coming question. next Your Please

Your line is live.

Unidentified Analyst

Shai. results. Hello, Great

Shai Lustgarten

much. Thank very you

Unidentified Analyst

I Okay. a few have questions, please.

for on we the first, you solution? retail the So details on competitors thank Do and the restaurants. have

Shai Lustgarten

I Shield -- we brings with it course that the I there are be -- automatic go product solution, offer -- for say you our would that cautious it. that when OMNIQ's is technologies, Vision, is efficiencies that security but to unique are Q to I would it, try but and our combines, drive more, I of not I'm find approach, and and in need say, that that definitely, different companies revenues cannot Machine segment one to which would not that technology about one unique aware with really machine-to-machine also bring seeing we security, would competition

not in offering we that field seeing we definitely, what are anyone So offer.

Unidentified Analyst

Okay. That's wonderful.

lately, $XX a company. million order a already US from is, order Is question announced company this the Another delivered?

Shai Lustgarten

deliveries started the of say, And probably that we one-fourth I have, It delivered immediately. would Yeah. over order.

Unidentified Analyst

Great.

Okay. quarter, mentioned In resellers the previous results from hiring that? any of you new

Shai Lustgarten

Yeah, good is you. a That question. yeah. Thank very

call and backlog so hire stronger which more part what resellers, are are translating our channel, and course, of brings channel and we sales, We is with it deliveries, which, into expanding indirect we and we that's pipeline our the strong. are continuing more to that backlog, of why -- opportunities reseller

Unidentified Analyst

can question That's say third brings hear. the what good And is, to that's quarter? Okay. what to me my about very next you

Shai Lustgarten

really positive, us how visibility to gives going end. seeing year into better, that quarter, much trends is we're more positive even Third the

the thing been last before and supply the First with global challenged that about we've the course, chain. quarters years, previous concerned for in of two

all this see chain, there. as and be going performance And definitely to in We've we're to discussing global over already by only challenges quarter. getting that our this, partners. much a well, is overall, supply strategically -- the we we So at when chain And deliveries. see our it's answering visible with think this strong our OMNIQ, by better not performance that we're been in told see supply QX partners going how healthy very I better but is

Unidentified Analyst

so. update believe can Okay. last And you -- Dangot I the you can about acquisition? thing,

Shai Lustgarten

the the Yes, what because already we operation lines. business it's Dangot our definitely call consolidated OMNIQ is Israeli into acquisition, very much

better what market, I positive we brings into seeing is in markets we're products good solution merger into the that We and with deeper us and into existing the products -- our we're as and base comes demand also our bring added exactly and turns segments meant in, customer which This wider I selling US are our its advantages by it brought, how on in and to seeing are well capability of the that that. seeing the definitely lot is -- I to coming focusing our Dangot's backlog, all to and selling equipment value customers. again, new very and say, when this unique a equipment would that it emerging by better existing and cross-selling base. stronger products, operate Dangot and customers customer the US completes This expanding Dangot we products it different for where mentioned previous to services section do call our existing

well. as a -- show separate they So definitely, as growth of course, P&L, and

very we're with all-in-all, are operation. So things happy our about progressing Israeli how

Unidentified Analyst

very much. Okay, great. Thank you

Shai Lustgarten

Hela. you, Thank

Operator

next post Your Fegan from [ph]. question Neal Please question. your is coming

Your is line live.

Unidentified Analyst

thanks questions. my for Hi. Shai, taking

the opportunity. Just relatively to new to stage, the I'm set OMNIQ

do And of those retailer your it before another how fully customer that's ahead initial announced, stores? contracts the a to the couple you only And green food casual those expand of you've initial the recently to XXX you've casual questions think stores fast further? dining Am long want expect last vertical the you correct, chain. how evaluate one would fast go big they into to correct take fast long a the number the store was you install limited go retail, and first entering those do if X,XXX I into the week, give to Two given vertical. light around will my and So stores? to store of dining, been are that

Shai Lustgarten

Yeah.

our thank families, and appreciate with you us joining all, will hoping taken investor’s now of remain that you First supporters, for position. you being

So thank you for that.

correct are our Secondly, status current products. with -- as first they're is equipment a customer that number that for -- announcements go equipment when put well. the that And they've start while, should. and several Yeah, the didn't run you at locations came that's to testing we're limited announcement if this you're we the sees where start already we test didn't point exactly your the And operates mean, it happy. It They've these of already the locations. light then We it green in the why approval, as we go it at it. just with the we after and with was I out received out everything been

whole even wanted up Friday, mean, they calls the actually, earlier, the up already we provide of we now operation. each the we they I right, at How to customers? before. and et now happy involved them because it and about these -- want et with that looked one forecast That's going with installers the So We're Together cetera. schedule we to quicker how with they discussions store, do in very where a of, manage our want was we together how deployments, to even forward? in have these than And because to thought performance. are I do integrate cetera, we schedule ramp initially. schedule ramp

it This do what is we're that all, we do And for to first long that now schedule depends to feel on year. going the receive be than is So to mean, they was call to to -- all want will and seeing Again, it much -- of for be us How easier them months several quicker Currently, thought. equipment within they them to I that? then I deployment. on the them. could support the it requirement. take the

I to going that's it's and a done they mean, us, taken to we're deploy, faster So to deployment together be be little going hand-in-hand. longer. going probably their but with will than deliver be will

but I a the of number that getting think can within -- significant see still year, locations already So deployed. we

Unidentified Analyst

Okay.

the XXX several of or that's that, all you all And couple that to and but the customer of were be stores? quarters so should Chain, Fast fully if we thinking years X,XXX into roll across retail a deploy Casual to of many

Shai Lustgarten

I wouldn't of to a -- we're we do I thought. this years. Again, couple there how than seeing even eager they say quicker mean are

So of would I a years, wouldn't several I quarters. say couple say,

Unidentified Analyst

system, a the how is with the work integrated you is CRM customer And that software the that? system or does significant Okay. the is customer, mentioned integratable it any easily collaborative provider? Casual Fast CRM CRM quick of lot a with on with using, one require you had And your

Shai Lustgarten

experience We one already have is them. a operating CRM different lot of integrating in with system, of

of integrators government, as many with type we solutions, of systems, systems. years on And have of operating a something with basis. So daily different operating experience are that we with integrating this is doing

say would us. heavy lifting I So not that, thing for a it's

put – Of that their the the as course, we fast from other well. can do it company is very requires to that the resources something other well This done and get end. company, our to CRM

have not integrated lot all integrations today and customers. systems operating course, different of in it, but lot ready. or done different APIs We're of all a with of our we such a have environments before with We CRMs

that APIs – us. to a it for question, And thing. answer to it a but a already place it already again at for new to thing years resources, same already that not not takes that's our Yes, -- all. your of is in So are it's lot lot many us of doing is I think us difficult

Q –Unidentified Analyst

Okay. And me, for could. one more if I

sure the you're progress? would mean a corporate your team, with how large about you Q, customer in Fortune on executive it with you do wins do torrid the the So, have team, team pipeline, they have to about work support announcing having a to talking working in you need all possible new Fortune experience a – best to the customer I that's you been staffing, XXX how you the you've how the on these make your place color that that? just sales or customers do staffing XXX, people is feel and of from pace

Neev Nissenson

it's I progress. a in work always think

to lot of better I the the to an We OMNIQ. management -- and in software the You mentioned And of as that. you you do on every focus lot, we're our -- etcetera? your equipment, That device done always health support -- not you how on immediately location, able you because to that to focus -- we one it's making if push how update, to that's and how allows is it, need and done want try versions today to on making How better are raise focus when XX grow, don't need always way monitor We customers. on get etcetera? how our to you health because to a like remote We for getting and you play not on the to strengthen control every It's a you – better. to do that teams. a knowing plug do right? And can as product of a infrastructure, us the on increasing We remotely. do into at example, the are button by have location? XX also we see not a – every that it it and not product lot

for good We are years than for very very known more XX-something now support. our

and with and that focus resellers or our channel our we now. to with in sales, lot a indirect the that existing about started key of how on, would add there. is very we before, the fully focusing our we decrease quicker success sales, would Yes, we videos on grow a ongoing the it give we our provide something though, never better say sessions because significant and that's probably support, very together say, of are change focusing way. We'll never to need provide quantify course continuing gradually go which it better and our different on is much with that support how of the teach well building, positioned right And to you better, you on the a I put some I mentioned creates very, how growth regards we're the -- customers. the and is to much need by what -- is an better them up, XX% them So and to always in what are we'll in factor I basis reseller training to staffing. deployments as which on to hand-in-hand increase No to make focus them resell our train and product also on

any change So the our We anything there, think want We think as in well our positioned -- the team really we're departments the of ongoing people need to now staffing. that executive to process. in do have, many it ways, that we'll changes. this were quality way, it's that always to and well But want staffed I right increase on be and skills no no -- well make better. very and an always all I good south in need to in

Unidentified Analyst

thanks Great. there. got And Well, on again. what quite Okay. exciting you've going

tuned. So I'll stay

Shai Lustgarten

support. your appreciate I sir. you, Thank

Operator

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

live. is line Your

Howard Halpern

Great guys. quarter. Congratulations,

Shai Lustgarten

sir. you, Thank

Howard Halpern

expenses. operations I XXX,XXX operating up noticed it SG&A in little was expense? nonrecurring little And about over Dangot about was acquisition? related expense, the more a included bit the that that was finishing and to the a in Talking

Shai Lustgarten

-- other Dangot relating are expenses got that to increased expenses. there loan have elements relating the that think financial I recurring Yes, we've some and to those the

Howard Halpern

Okay.

should expense with $X back fall to stay going forward, plus that so -- with will so or forward And plus into that, not $X going going it is $X the continue area million? million above million SG&A

Neev Nissenson

of think obviously. their But challenge it's kind expect to don't going we expenses find down. I those Obviously, to longer -- sometimes go will – in. other tack not back expect recur, we way Yes, yes, it

Howard Halpern

then terms what an your high-quality what of in have And AI in machine And you they're requesting them Okay. with number offerings. base, to terms the you've new talked customer the for wanting you that seen of of about long-term towards existing learning? pilot move programs seeing in your increase are

Neev Nissenson

directed Shai, it I think was to you.

Operator

seems have him we lost to moment, one actually just Shai. trying We're now. reconnect it Just

Neev Nissenson

Okay.

Operator

Okay.

Just on please moment. the one remain line

We to Shai. rejoin, are trying

rejoined. has Shai Okay.

Shai Lustgarten

sorry Neev, yes, I'm about that.

Howard Halpern

I'll customer the repeat existing you. your equipment are to starting Okay. to demanding your established so customer out programs question them your see AIs pilot leveraging you're test With requesting too, you or base? to base, based

Shai Lustgarten

answer The Yes. is yes.

that We is are seeing would a the for while. increased demand that increased there demand. I like mention to

our you have enterprises demand is the to close with prepare because finished with I We are are have least, you a experience like, to we from very penetrating ready what we to these come or very answering solution. that pilot, mean, -- that have at cautiously, to ourselves before come or go into even

are customers, with of We we're pilot customers, have so even I this And application answers go supply need. longer seeing what that is would many than spreads That's then the Fortune right, go example, -- even, even technology more they is exactly in closer managing technology it going more XXX development, our the the demand existing Vans, our -- more makes customer, the work our deploy, is one we there's what what that -- and chain, to that firm, in scheduling, stores. the customers more why that. controlling question. location. and and if with not doubt is expectations; even to, to the no we're going you technology you that, pace, the have I -- for mean, that that once our in for to one, Now its customer and We the because together sense. is right? but much The you to thousands, started takes it's they market. are performance than one Once the you succeed pilot

Howard Halpern

Okay. does. Yes, it

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

Shai Lustgarten

Thank you, sir. support. your Appreciate

Neev Nissenson

Thanks.

Operator

[Operator Williams your Instructions] from additional Please question. an Associates. have We pose Friess Matt with question

Your live. line is

Matt Williams

quarter, so and the much. taking great you Thank I guys you appreciate here. Shai, time

ask to growth in business? separate So OMNIQ are the to the the first was I thing the organic what you business Dangot wanted is, able versus from quarter the

Shai Lustgarten

Yes, And… definitely.

Neev Nissenson

Yes, go ahead.

Shai Lustgarten

ahead, Yes. I'm sorry. Go

Matt Williams

ask was what I is you to that? No, going

Shai Lustgarten

Yes.

So again…

Neev Nissenson

can I Shai. answer, Yes.

Shai Lustgarten

Sure.

Neev Nissenson

months growth transformed chain not that increased the increased. we've orders and has given orders would I organically seen yet. side, difficulties six OMNIQ sales QX organic supply have have these of materialized the sales during But in into revenue say side. the Dangot the course of So, the QX, revenue on some

sales So, across orders, months of of six But we around have organic to the mostly terms in year. growth on this Dangot center seen it's revenue, of deliveries portfolio.

Matt Williams

All got it. couple right. more here. Okay, a things just And then

side, to would Q Safe to tied is sound there the factor factor? your the is growth. say in it Shield demand it the it revenue you gating kind more But ability the chain, doesn't What tied to like the the On deploy is gating City systems? supply or is of

Shai Lustgarten

this very started everyday seeing like in total well, for it's the unbelievable a XXX this we what more will is more your lives say, supply is, the why a it and make the significant and The understood been example, able more and just we small how this and significant to reason We've is as say test GAD very growth portion even successful. is deployed correctly back town currently? for right? In of very, the I other that of X,XXX deploy factor not in this not we thought, If than of one month. to the currently you city more would not successful; that a revenue a next we affect in second residents the you're for factor chain volume ago. been cities seem question we've few residents. factor a as volume, more, how zero, less or, months month, can than system And what see Shield much any the -- of I would the company. would the The up change very, We portion I that because XX get Q even cases

the course, we that of and the does first as person -- is technology missing that that. found this So

traction. this something that's of mean, a I really getting lot is So,

We XX that are to cities, day, one the for get In have many contracts. now than many, we lease seven signing. many, -- than submitted more XX on more contracts

significant the gradually we how sure and revenue It trend channel, It's breakthrough portion you into it focused not whole factor nicely. the XXXX working to -- becoming on revenue that's wasn't And were I I Once to do as of in to challenges in definitely stream. software, most, we a that volume, sure the XXXX. chain XXXX, that them. know we has XX year works becoming cities. want getting or are was are this what make that that that seeing don't training make but will that significant, But is at needed we a the so stream. building deploying a now the perfectly created increase supply also significant reseller see -- happen right the And and the monitor, there, Q moving looking at the Shield everything that would but of start that we and -- process -- showing say, municipalities to a immediately if are the least that

Matt Williams

right. said All more. size but your don't of I what may the helpful. is, backlog? backlog know If if you That’s report just a couple Perfect. I this, the really you did

Neev Nissenson

-- It's if probably no, million, $XX it's think don't more about Even we did, than $XX Yes. million. but million. $XX I

Matt Williams

usage some there cash, was demands Do of seeing All you you're meet right. business? just liquidity, adequate obviously, to sort Can the cash Great. have cash needs? in the that And about then -- year-to-date. you talk so cash

Neev Nissenson

support have our yes. to needs, operational to funds growth support we our and cash Yes, sufficient

Matt Williams

And All thing, if just then last may. I Perfect. the right.

you just So give food it exactly can fast just this is you Is doing? Can is kiosk you're color a -- what order, it drive-thru on application? a some this application? like in-store

Neev Nissenson

currently currently our product with the penetrated, QCO to call -- penetrated what to these -- restaurants The we [ph]. that not happen will water what actually. This soon what kiosks it's not deeper our we have is and that selling the existing It's – The smart as is from get customers. expansion into drive-thru. we are that's Q-post kiosks do software well we self-ordering and the one that

vehicle person it is we of security do is departments, that, deploying market into into forecasting identify newest thing forward, in the bigger consumers to because we same that consumers. intake, higher providing and the install do service providing as – fast information, way, also can see vehicles, just with and the and came creating And model, operation. to and is you provide even drive into to the website, drive-thru et the it parameters, we getting and on the food revenue better these now all drive-thru. And to together, CRM hand-in-hand system these our what we the these entrance experience et customer restaurants better to are in even So integrate out police that it loyalty, this the vehicles their may our that social media order much historical as restaurants call on consumer does the one to actually start tracking that providing facility cetera. We And much when creating product – what and we of connect provide footprint to for how into this together cetera. the a recently. they before in with programs faster all-in-all efficiencies with the we these the systems flow know going to

that's end, the service phases I the be to just awarded, We've that. mentioned, phases. what we're of exposed everything to that's where And customers. the -- and we've starts we've in going course, done got to providing is going be it that solution So in the at

Matt Williams

seeing Thanks continued your Right. very Awesome. good and forward Well, the for half. the we trends time. growth stuff. in impressive A to back look

Shai Lustgarten

Thank you, sir.

Operator

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

Shai Lustgarten

very much, operator. you Thank

talented like So, steam, thank employees. OMNIQ’s devoted the I to and it's again would

our And looking are OMNIQ. strong again These support. and very the other you thank team for it's really continuing the partners, We're any our As really the our professional before want lease I all much to I to And all growth. exciting. grow like shareholders times exciting customers, I of suppliers, that to thank also said mentioned, shareholders, supporters that you, time. We're forward seeing our have. we your

everyone, appreciate soon. you looking to to again forward I So talking and

Operator

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

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

OMNIQ (OMQS) 15 Aug 222022 Q2 Earnings call transcript