OMNIQ Corp. Files Q3 2024 10-Q
Ticker: OMQS · Form: 10-Q · Filed: Nov 14, 2024 · CIK: 278165
Sentiment: neutral
Topics: 10-Q, financials, reporting
TL;DR
OMNIQ Corp. 10-Q filed, showing Q3 2024 financials. Check for updates.
AI Summary
OMNIQ Corp. filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial performance and position, including its assets and liabilities. OMNIQ Corp. operates in the computer integrated systems design sector and is incorporated in Delaware.
Why It Matters
This filing provides investors and analysts with the latest financial snapshot of OMNIQ Corp., crucial for understanding its current operational health and future prospects.
Risk Assessment
Risk Level: medium — As a publicly traded company filing a 10-Q, OMNIQ Corp. is subject to standard market and operational risks inherent in its industry.
Key Numbers
- 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
- 2024-11-14 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
Key Players & Entities
- OMNIQ Corp. (company) — Filer of the 10-Q
- 20240930 (date) — End of the reporting period
- 20241114 (date) — Filing date
- Quest Solution, Inc. (company) — Former company name
FAQ
What is the primary business of OMNIQ Corp.?
OMNIQ Corp. operates in the SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN sector, with SIC code 7373.
What is the fiscal year end for OMNIQ Corp.?
OMNIQ Corp.'s fiscal year ends on December 31st.
When was the current 10-Q filing submitted?
The 10-Q filing was submitted on November 14, 2024.
What was the previous name of OMNIQ Corp.?
OMNIQ Corp. was formerly known as Quest Solution, Inc., with a name change date of August 13, 2014.
What period does this 10-Q report cover?
This 10-Q report covers the period ending September 30, 2024.
Filing Stats: 4,883 words · 20 min read · ~16 pages · Grade level 14.2 · Accepted 2024-11-14 16:15:24
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 par value OMQS OTCMKTS Indicate b
- $1.00 — quidation value and conversion price of $1.00 per share ($20.00 per 20 shares of pref
- $20.00 — nd conversion price of $1.00 per share ($20.00 per 20 shares of preferred stock which
- $30 — y's common stock has a closing price of $30 per share for 20 consecutive trading da
Filing Documents
- form10-q.htm (10-Q) — 677KB
- ex31-1.htm (EX-31.1) — 18KB
- ex31-2.htm (EX-31.2) — 18KB
- ex32-1.htm (EX-32.1) — 7KB
- 0001493152-24-045884.txt ( ) — 3345KB
- omqs-20240930.xsd (EX-101.SCH) — 25KB
- omqs-20240930_cal.xml (EX-101.CAL) — 50KB
- omqs-20240930_def.xml (EX-101.DEF) — 108KB
- omqs-20240930_lab.xml (EX-101.LAB) — 238KB
- omqs-20240930_pre.xml (EX-101.PRE) — 182KB
- form10-q_htm.xml (XML) — 364KB
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION F-1
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS F-1 CONDENSED CONSOLIDATED BALANCE SHEETS AT SEPTEMBER 30, 2024 AND DECEMBER 31, 2023 F-1 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2024 AND 2023 F-2 CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2024 AND DECEMBER 31, 2023 F-3 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2024 AND 2023 F-4 NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS F-5
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 3
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 7
CONTROLS AND PROCEDURES
ITEM 4. CONTROLS AND PROCEDURES 7
- OTHER INFORMATION
PART II - OTHER INFORMATION 8
LEGAL PROCEEDINGS
ITEM 1. LEGAL PROCEEDINGS. 8
RISK FACTORS
ITEM 1A. RISK FACTORS. 8
UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS. 8
DEFAULTS UPON SENIOR SECURITIES
ITEM 3. DEFAULTS UPON SENIOR SECURITIES. 8
MINE SAFETY DISCLOSURES
ITEM 4. MINE SAFETY DISCLOSURES. 8
OTHER INFORMATION
ITEM 5. OTHER INFORMATION. 8
EXHIBITS
ITEM 6. EXHIBITS. 9
SIGNATURES
SIGNATURES 10 2 PART I - FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS OMNIQ CORP. CONDENSED CONSOLIDATED BALANCE SHEETS September 30, 2024 December 31, 2023 (In thousands, except share and per share data) As of September 30, 2024 December 31, 2023 ( UNAUDITED ) ASSETS Current assets Cash and cash equivalents $ 1,234 $ 1,678 Accounts receivable, net 17,512 18,654 Inventory 5,651 6,028 Prepaid expenses 1,054 969 Other current assets 40 25 Total current assets 25,491 27,354 Property and equipment, net of accumulated depreciation of $ 1,851 and $ 1,166 respectively 843 1,066 Goodwill, net of accumulated impairment of $ 0 and $ 14,868 , respectively 2,869 1,788 Trade name, net of accumulated amortization of $ 4,974 and $ 4,850 , respectively 1,212 1,377 Customer relationships, net of accumulated amortization of $ 12,256 and $ 11,814 , respectively 3,234 3,777 Other intangibles, net of accumulated amortization of $ 1,711 and $ 1,669 , respectively 430 504 Right of use lease asset 1,293 1,862 Other assets 1,821 1,758 Total Assets $ 37,193 $ 39,486 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable and accrued liabilities $ 61,020 $ 56,741 Line of credit 562 240 Accrued payroll and sales tax 2,392 1,537 Notes payable – current portion 8,651 10,196 Lease liability – current portion 745 885 Other current liabilities 2,420 3,106 Total current liabilities 75,790 72,705 Long-term liabilities Accrued interest and accrued liabilities, related party 73 73 Notes payable, less current portion 538 265 Lease liability 518 1,011 Other long-term liabilities 501 452 Total liabilities 77,420 74,506 Stockholders' deficit Series A Preferred stock; $ 0.001 par value; 2,000,000 shares designated, 0 shares issued and outstanding - - Series B Preferred stock; $ 0.001 par value; 1 share designated, 0 shares issued and outstand