OMNIQ Corp (OMQS)

[windough-shopper]

So the headline reads great, but in fact its as bad as ever

Another huge loss, despite us being told profits were coming with Dangot deal

Three times as much EBITDA loss as last year

Almost no cash...and they cant raise any!

The fourth quarter would have been down almost 75$ from last year if not for Dangot


Fourth Quarter 2022 Financial Results

OMNIQ reported revenue of $25 million for the quarter ended December 31, 2022, an increase of less than 1% from $24.9 million in the fourth quarter of 2021. Our Gross Margin was 16% compared to 2021 which had gross margin of 19%. Total operating expenses for the quarter were $7. 5 million, compared with $7.6 million in the fourth quarter of 2021.

Net loss for the quarter was $4 million, or a loss of $0. 53 per basic share, compared with a loss of $2. 2 million, or a loss of $0. 36 per basic share, for the fourth quarter of last year.

Adjusted EBITDA (adjusted Earnings Before Interest, Taxes, Depreciation and Amortization) for the fourth quarter of 2022 amounted to a loss of $1.4 million compared with an adjusted EBITDA loss of $553 thousand in the fourth quarter of 2021.

Cash balance at December 31, 2022 was approximately $1.3 million compared with $7.1 million at December 31, 2021