Company: OMQS
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010783
Chunk: 33

Company: OMNIQ Corp.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 33
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, automatic kiosks and point-of-care units. We also offer technical
service and support. Our highly tenured team of professionals has the knowledge and expertise to simplify the integration process for
our customers, and our team delivers proven problem-solving solutions backed by numerous customer references. We offer comprehensive packaged
and configurable software, and we are a leading provider of best-in-class mobile and wireless equipment.

Our customers include government agencies and leading
Fortune 500 companies from diverse sectors, including healthcare, food and beverage, manufacturing, retail, distribution, and transportation
and logistics. Since 2014, our annual consolidated revenues have grown to more than $80 million with clients in more than 40 countries.
We currently engage with several billion-dollar markets with double-digit growth, including the Global Safe City market and the Ticketless
Safe Parking market.

3

The following is a discussion of our financial condition,
results of operations, financial resources, and working capital. This discussion and analysis should be read in conjunction with our unaudited
condensed consolidated financial statements contained in this Form 10-Q.

OVERVIEW

The Company’s sales from operations for the
three months ended March 31, 2025, were $19.9 million, an increase of approximately $1.6 million or 8.7%, over the three months ended March
31, 2024.

The loss from operations for
the three months ended March 31, 2025, was $690 thousand, a decrease of $569 thousand compared with the loss in the three months ended
March 31, 2024, of $1.3 million. Basic loss per share from continuing operations for the three months ended March 31, 2025, was ($0.20)
versus ($0.20) per share for the same period in 2024. Comprehensive loss for the three months ended March 31, 2025 and 2024 was $1.6
million and $1.9 million respectively, the only component to comprehensive loss besides net loss is foreign currency translation.

LIQUIDITY AND CAPITAL RESOURCES

As
of March 31, 2025, the Company had cash in the amount of $2.7 million and a working capital deficit of $55 million, compared to cash
in the amount of $2.3 million, and a working capital deficit of $54.4 million as of December 31, 2024. The Company had stockholders’
deficit attributable