Artificial Intelligence
OMNIQ Reports Full Year 2019 Revenue Increase to $57.2 Million; Gross profit increases to $14.0 Million
Company Continues Transformation to AI-Machine Vision Object Recognition Leader
Launches Multiple Innovative Machine Vision Solutions As Result of Accelerated R&D Efforts; R&D investment increased to $1.8 million from $0.3 million in 2018Positioned to Capture Growing Market Share With Industry Leading Technology; Predicts License Plate Reading Market to Be $1.5 Billion for 2021/2022 PeriodSeveral Significant Orders Received In 2019 Demonstrate the Traction of the Company’s AI-Machine Vision Solutions Across a Variety of Growing Market VerticalsSALT LAKE CITY, March 30, 2020 (GLOBE NEWSWIRE) — OMNIQ Corp. (OMQS) (“OmniQ” or “the Company”), a provider of Supply Chain and Artificial Intelligence (AI)-based solutions, announced its financial results for the three month and year-end periods ended December 31, 2019.Shai Lustgarten, CEO, commented, “OMNIQ made tremendous progress during 2019, achieving $57.2 million in revenue, with gross profit improving by $1 million and we also reduced operating expenses before Research and Development and Depreciation and Amortization by $1 million. We increased our R&D investment for the continued development of AI-Machine Vision technologies because we believe there is a significant opportunity to capitalize on these technologies that are essential components for the multi-billion-dollar Supply Chain market, where we have a strong and solid existing customer base of Fortune 500 corporations. Additionally, we are partnering with our customers to provide a technology that imitates the human neural network in a machine vision engine with industry leading accuracy and a shortened machine learning process. This is the growth engine for our Company given our solutions’ ability to improve operating efficiencies and support applications across a broad variety of end markets such as Public Safety, Traffic Management, Autonomous Cars, Parking Automation and Access Control.”OMNIQ has recorded several major achievements that have transformed the Company into an AI – Machine Vision Object Recognition leader:“During 2019, our AI technology was implemented in Homeland Security projects in critical areas of the Middle East as well as in several select areas of the U.S., including the installation of our solution at a pre-K-12 preparatory school in Florida to enhance the safety of students and teachers. We also integrated our vehicle recognition system with the municipal law enforcement database of a large state. In addition to its security and safety applications, our enhanced portfolio of patented pattern recognition technology also captures important data for use in parking automation and warehouse management. We’re excited about the interest we’re seeing in the multi-billion-dollar markets we participate in and believe that our AI solutions represent a significant opportunity for growth and profitability.”
“Fourth quarter revenue decreased in the overall supply chain business which impacted gross margins. In spite of the revenue decrease for the quarter, our adjusted EBITDA was relatively consistent with last year’s fourth quarter.” “Complementing our innovative product offering, we substantially increased our sales team and improved our finance team and its infrastructure allowing us to maintain real-time financial analysis and control.”Mr. Lustgarten concluded, “We recently announced the receipt of two large purchase orders, one from a Fortune 500 supermarket chain and one from a logistic trucking company. These were both follow-on orders, from companies who are continuing to operate during the COVID-19 situation. We are encouraged by their trust and proud to help them to serve their customers. During this unprecedented time, we are managing the business carefully, but given the critical nature of our services, despite the difficult situation the world is facing, we continue to see strong interest around our solutions. The current situation highlights the importance of hands-free, automated solutions to public safety and our solutions also provide an effective and cost saving alternative to drive supply chain efficiencies. First and foremost, we are prioritizing the safety of our employees, partners and customers and have implemented protocols to minimize risk in this difficult time. I would like to thank our employees for their devotion and loyalty and thank all shareholders and friends of the Company for their support. We wish everybody health and prosperity and a quick return to normal days as soon as possible.”Financial Results:Full Year 2019For the year ended December 31, 2019, OMNIQ reported revenue of $57.2 million as compared to $56.2 million in the prior year. The increase was primarily related to growth in the sales of image processing solutions. Gross Profit increased by approximately $1 million to $14 million in 2019, compared to $13 million in 2018. The increase was primarily related to the inclusion of revenues from the Company’s image processing subsidiary which has historically had a higher gross margin. Total operating expenses for 2019 were $16.9 million compared to $16.1 million in 2018. While the Company reduced overhead by $1.3M in 2019 this was offset by an increase of approximately $1.5 million in R&D expenses compared to 2018. Management believes that investment in R&D will lead to future growth in revenue and gross margins as the Company becomes a leader in AI – Machine Vision technology. Net loss attributable to common stockholders was $5.3 million, or a loss of $1.37 per share on a full year basis, compared to a net loss of $5.4 million, or a loss of $2.18 per share, for full year 2018. Total stockholders’ equity at December 31, 2019 was $1,807,740 compared to $2,292,602 at December 31, 2018.Please refer to the financial tables included below for a reconciliation of generally accepted accounting principles in the United States (“GAAP”) to non-GAAP financial results.Fourth Quarter 2019OMNIQ reported revenue of $11.4 million for the quarter ended December 31, 2019, as compared to $13.8 million in the comparable 2018 period. The revenue decrease for the quarter ended December 31, 2019 was primarily related to strong fulfillment and deliveries by the Company’s subsidiary HTS Image Processing in the fourth quarter 2018. Total operating expenses for the fourth quarter of 2019 were $4.3 million as compared to $5.4 million in the fourth quarter last year. The decrease in operating expenses was largely related to non-cash stock-based compensation and professional fees related to the Company’s acquisition and integration of HTS and financing activities in the three months ended December 31, 2018. Net loss for the quarter was $2.8 million, compared to $0.9 million, for the fourth quarter of last year. Adjusted EBITDA (Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization) for the fourth quarter of 2019 was a loss of $1.1 million compared to Adjusted EBITDA of $1.2 million in fourth quarter 2018. About OMNIQ, Corp.
OMNIQ Corp. (OMQS) provides computerized and machine vision image processing solutions that use patented and proprietary AI technology to deliver data collection, real time surveillance and monitoring for supply chain management, homeland security, public safety, traffic & parking management and access control applications. The technology and services provided by the Company help clients move people, assets and data safely and securely through airports, warehouses, schools, national borders, and many other applications and environments.
OMNIQ’s customers include government agencies and leading Fortune 500 companies from several sectors, including manufacturing, retail, distribution, food and beverage, transportation and logistics, healthcare, and oil, gas, and chemicals. Since 2014, annual revenues have grown to more than $50 million from clients in the USA and abroad.
The Company currently addresses several billion-dollar markets, including the Global Safe City market, forecast to grow to $29 billion by 2022, and the Ticketless Safe Parking market, forecast to grow to $5.2 billion by 2023. “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
This release contains “forward-looking statements” that include information relating to future events and future financial and operating performance. The words “anticipate”, “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for the Company’s products particularly during the current health crisis , the introduction of new products, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, the Company’s ability to manage credit and debt structures from vendors, debt holders and secured lenders, the Company’s ability to successfully integrate its acquisitions, and other information that may be detailed from time-to-time in OMNIQ Corp.’s filings with the United States Securities and Exchange Commission. Examples of such forward looking statements in this release include, among others, statements regarding revenue growth, driving sales, operational and financial initiatives, cost reduction and profitability, and simplification of operations. For a more detailed description of the risk factors and uncertainties affecting OMNIQ Corp., please refer to the Company’s recent Securities and Exchange Commission filings, which are available at http://www.sec.gov. OMNIQ Corp. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by law.Information about Forward-Looking Statements
Investor Contact:
John Nesbett/Jen Belodeau
IMS Investor Relations
203.972.9200
[email protected]Financial Tables FollowOMNIQ Corp.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSSOMNIQ Corp.
CONDENSED CONSOLIDATED BALANCE SHEETS
(AUDITED)OMNIQ Corp.
RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES
(UNAUDITED)
Artificial Intelligence
ShapeBlue, the CloudStack company, announces a partnership with proIO to deliver private cloud services in Germany, aimed at meeting growing demand in the region
FRANKFURT, Germany, April 30, 2024 /PRNewswire/ — ShapeBlue, a leader in delivering CloudStack engineering services and support, announces a partnership with proIO, a German Private Cloud Provider empowering SMBs across various industries through its Infrastructure-as-a-Service and Managed Hosting solutions. This collaboration marks a milestone in advancing cloud infrastructure and support for organizations in the region, implementing Apache CloudStack as their IaaS platform.
Both companies recognize the benefits of having control over your cloud infrastructure and having a reliable partner delivering a fully managed IaaS solution. Embracing a managed private cloud environment ensures better cost management and enhances security measures, maximizes hardware investments, ensures flexibility and compliance with regulations. Utilizing CloudStack to orchestrate the IT environment offers companies unparalleled flexibility to tailor their infrastructure to their unique needs while leveraging existing resources effectively.
Giles Sirett, CEO of ShapeBlue commented: “With the partnership with proIO we address the needs of SMBs in Germany for powerful managed cloud. We will focus on adoption of open-source technology, helping them to control costs and ensure reliability.
ShapeBlue has a global footprint, with customers in 19 countries. Driven by the desire of organisations to repatriate cloud workloads and changes in the market, with proIO we aim to repeat the success that we have in other markets.”
proIO and ShapeBlue join forces to help companies in Germany harness the potential of open-source technology backed up by reliable support.
“With our expertise and proven offerings, we will develop innovative solutions and deliver optimal results. We are convinced that this partnership will open up further opportunities and that we can achieve even more together. We look forward to working with ShapeBlue to develop forward-thinking solutions and support our customers in the best possible way.”, says Swen Brüseke, CEO at proIO.
This new partnership allows German companies to benefit from the local presence of proIO, their experience as a CloudStack integrator and ShapeBlue’s 100s of man-years of experience in designing and building complex cloud, network, and storage infrastructure with Apache CloudStack.
proIO
proIO is a Private Cloud Provider empowering German SMBs through its Infrastructure-as-a-Service and Managed Hosting solutions, based in Frankfurt, Germany.
ShapeBlue
ShapeBlue is the largest independent integrator of CloudStack technologies globally and specialists in designing and implementing IaaS cloud infrastructures for private and public cloud implementations.
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Artificial Intelligence
Implantica Announces Real-World Clinical Data from over 200 Patients treated across five RefluxStop™ Centers in Europe Presented at SAGES in Cleveland
VADUZ, Liechtenstein, April 30, 2024 /PRNewswire/ — Implantica AG (publ.), a medtech company at the forefront of bringing advanced technology into the body, reports many presentations including new RefluxStop™ real-world data from over 200 patients at five hospitals across Europe, were presented in Scientific Sessions at the Society of American Gastrointestinal and Endoscopic Surgeons (SAGES) Annual Scientific Meeting.
This highly esteemed conference is the biggest meeting in the world dedicated specifically to gastrointestinal and endoscopic surgery. Some 2,500 SAGES members, representing the world-leading experts in gastrointestinal and endoscopic surgery, attended the SAGES Annual Meeting in Cleveland, Ohio on April 17-20.
It’s a credit to the ongoing enthusiasm for RefluxStop™ to see the latest clinical data from five world-renowned European centers of excellence in the treatment of acid reflux diseases, presented at SAGES. The Centers of Excellence included the following:
Krankenhaus Nordwest GmbH, Frankfurt, Germany Presenting author: Dr. Moustafa ElshafeiHirslanden Beau-Site Hospital, Bern, Switzerland Presenting author: Dr. Joerg ZehetnerInselspital, University Hospital, Bern, Switzerland Presenting author: Dr. Yves BorbélyAKH University Hospital Vienna, AustriaPresenting author: Prof. Dr. Sebastian SchoppmannClinics for General and Visceral Surgery, Klinikum Friedrichshafen, GermanyPresenting author: Dr. Thortsen G. LehmannDr. Peter Forsell, CEO of Implantica says, “The excellent real-world outcomes from a dataset that is four times bigger than the size of the CE study conducted more than five years ago is a strong validation of the consistent and sustained outcomes of the RefluxStop therapy. This research further establishes RefluxStop™ as an exceptional surgical treatment for GERD, setting the stage for strong future growth in US once we get market approval.”
Dr. Forsell goes on to say, “There has been an immense interest and support in RefluxStop™ therapy from the US surgeons and scientific experts. Looking to the US market where 20% of the adult population suffers from GERD1, we see a massive opportunity for the innovative RefluxStop™ procedure to transform patients’ quality of life, pending FDA approval.”
Fass R, Frazier R. The role of dexlansoprazole modified-release in the management of gastroesophageal reflux disease. Therap Adv Gastroenterol. 2017 Feb;10(2):243-251. doi: 10.1177/1756283X16681701. Epub 2017 Jan 5. PMID: 28203282; PMCID: PMC5298478.For further information, please contact:Nicole Pehrsson, Chief Corporate Affairs OfficerTelephone (CH): +41 (0)79 335 09 [email protected]
Implantica is listed on Nasdaq First North Premier Growth Market in Stockholm.
The company’s Certified Adviser is FNCA Sweden AB, [email protected]
The information was sent for publication, through the agency of the contact person set out above, on April 30, 2024, at 08:00 a.m. (CET).
About Implantica
Implantica is a medtech group dedicated to bringing advanced technology into the body. Implantica’s lead product, RefluxStop™, is a CE-marked implant for the prevention of gastroesophageal reflux that will potentially create a paradigm shift in anti-reflux treatment as supported by successful clinical trial results. Implantica also focuses on eHealth inside the body and has developed a broad, patent protected, product pipeline based partly on two platform technologies: an eHealth platform designed to monitor a broad range of health parameters, control treatment from inside the body and communicate to the caregiver on distance and a wireless energizing platform designed to power remote-controlled implants wirelessly through intact skin. Implantica is listed on Nasdaq First North Premier Growth Market (ticker: IMP A SDB). Visit www.implantica.com for further information.
About RefluxStop™
RefluxStop™ is a new innovative treatment that has the potential to spur a paradigm shift in anti-reflux surgery. It’s unique mechanism of action differentiates it from standard of care and current surgical solutions. Longer established surgical options for GERD involve encircling the food passageway to support the lower esophageal sphincter’s closing mechanism and are commonly associated with side effects such as swallowing difficulties, pain when swallowing and inability to belch and/or vomit.
In contrast, the RefluxStop device treats the cause of acid reflux without encircling and putting pressure on the food passageway. It restores and maintains the lower esophageal sphincter in its original, natural position.
The RefluxStop™ mechanism of action is focused on reconstructing all three components of the anti-reflux barrier, that if compromised could possibly result in acid reflux. It restores and supports the natural anatomical physiology of the body allowing the body to itself solve the problem with acid reflux.
Newsroomhttps://www.implantica.com/media/media-kit
Communityhttps://ch.linkedin.com/company/implanticahttps://www.twitter.com/implantica
Media Contact:Juanita Eberhart, VP Marketing & AdvocacyM: +1 [email protected]
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/implantica/r/implantica-announces-real-world-clinical-data-from-over-200-patients-treated-across-five-refluxstop-,c3970435
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Implantica Announces Real-World Clinical Data from over 200 Patients treated across five RefluxStop™ Centers in Europe Presented at SAGES in Cleveland
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Artificial Intelligence
Inspira Enterprise Named a Leader in the 2024 IDC MarketScape Report for Worldwide Emerging MDR Services
DALLAS, April 30, 2024 /PRNewswire/ — Inspira Enterprise, Inc. (‘Inspira’), a global cybersecurity services organization is proud to announce that it has been positioned in the Leaders category in the 2024 IDC MarketScape Report for worldwide emerging managed detection and response (MDR) services.
In the assessment conducted by IDC for its MarketScape, vendors were meticulously scrutinized against a comprehensive array of benchmarks encompassing, functionality, offerings, security outcomes, go-to-market strategy, customer portal, talent management, service tiers, range of services, future outlook, security outcome, and cost normalization. IDC’s discerning evaluation heralded Inspira’s proactive detection and closed-loop remediation, as the integral components of its cutting-edge Intelligence-Driven Cyber Defense (ICD) practice.
According to the IDC MarketScape Report, “MDR services have experienced significant growth, fueled by the escalating sophistication and frequency of cyber threats. Organizations are increasingly turning to MDR services as the cornerstone of fortifying their digital fortresses against the relentless tide of evolving cyber threats. to enhance their overall cybersecurity posture. This strategic shift underscores a profound recognition of the imperative to not merely respond reactively but to proactively anticipate and neutralize emerging risks with unparalleled agility and efficacy.”
Commenting on Inspira’s strengths, Yogesh Shivhare, Research Manager, Security & Infrastructure, at IDC Canada stated, “Inspira Enterprise’s MDR offering extends beyond threat containment to include a closed-loop remediation process. After containment, this process ensures that enterprise-wide policies and configurations are updated, effectively preventing future attacks using similar methods. This process enables Inspira’s service to improve analyst interaction and develop a deeper understanding of the client’s context.” He also added, “Inspira Enterprise brings a wealth of experience in providing threat detection and response services in complex environments, particularly for midmarket and enterprise clients in the banking and financial services (BFSI), healthcare and life sciences (HCLS), and public sector, with steady adoption of its services within organizations in other industry verticals.”
Inspira’s visionary approach is epitomized by its formidable arsenal of accelerators which forms the foundation for assisting its clientele to transition from their incumbent security information and event management solutions to Inspira’s state-of-the-art MDR platform. Automation and orchestration are foundational to Inspira’s MDR service, with over 130+ playbooks facilitating a 15-minute detection, 30-minute containment, and 4-hour remediation SLA for highest severity incidents.
“Our team is indeed honored to be recognized by IDC MarketScape as a Leader for Worldwide MDR Services,” said Chetan Jain, Managing Director, of Inspira Enterprise. “This acknowledgment is a validation of our commitment to safeguard our clients’ digital assets. We tailor our MDR services to the business context, by integrating SIEM, UEBA, SOAR, and TIP capabilities while also delivering a unified cyber-risk dashboard to provide visibility into threat detection coverage and maturity. We cater to midsize to large clients with complex IT environments who are looking to completely outsource cyber defense or augment their existing SOC efforts.”
Inspira Enterprise has invested significantly in developing its native MDR platform, (iMDR), expected to be available to clients in 2024. This platform will bring advanced detection and hunting capabilities along with a GenAI-enabled dashboard embedded in its iSMART2 customer portal. Inspira Enterprise is also diversifying its services with offerings like deception as a service, IT-OT converged SOC, and continues to invest in service offerings and automation to improve SOC Program Governance through measurable and actionable KPIs. Inspira Enterprise’s proactive stance and ongoing investments position it as a forward-thinking partner in the dynamic field of managed detection and response services.
Read more: https://inspiraenterprise.com/ugiltecm/2024/04/IDC-MarketScape-Worldwide-Emerging-Managed-Detection-and-Response-Services-2024-Vendor-Assessment-2024-Apr.pdf
About Inspira
Inspira Enterprise is a global Cybersecurity, Data Analytics, and AI services provider with a presence in North America, ASEAN, the Middle East, India, and Africa regions. It offers a wide range of services for Banking, Financial Services and Insurance (BFSI), Healthcare, Public Sector, Manufacturing, Information Technology Enabled Services (ITeS), eCommerce, and others. Inspira’s cybersecurity services range from basic perimeter security to complex incident management and response and managed security services. The organization’s global partnerships with best-of-breed technology providers enable it to offer cutting-edge cybersecurity solutions. Inspira’s Managed Analytics service supports its customer’s IT and Business teams, to bridge data strategies with business outcomes.
About IDC MarketScape:
IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.
Media Contact:
[email protected]+91 2240569999
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