What changed in this filing

/stocks — the workspaceLOADING

Item 1. Business

2023-03-31 compared with 2022-03-31 · 38 added, 41 removed, 186 unchanged (30% of the section changed)

Corp., a Delaware corporation, formerly Quest Solution, Inc., together with its wholly owned and majority owned subsidiaries,

referred to herein as “we,” “us,”, “our”, “OMNIQ”, or the “Company”,

was incorporated in 1973.

referred to herein as “we”, “us”, “our,” “OMNIQ,” or the “Company,” was

incorporated in 1973.

Since its incorporation, the Company has been involved in various lines of business.

8 unchanged sentences

(November 2014)

ViascanQdata,

Inc (October 2015 – later sold in September 2016)

Image Processing, Inc.

10 unchanged sentences

manufacturer and distributor of barcode labels, tags, and ribbons, as well as RFID labels and tags.

We provide printing solutions,

credit card terminals, automatic kiosks and point of care units.

We also offer customers technical service and support.

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.

We provide printing solutions, credit

card terminals, 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.

customers include government agencies and leading Fortune 500 companies from diverse sectors, including healthcare, food and beverage,

3 unchanged sentences

We currently address several billion-dollar markets with

double-digit growth, including the Global Safe City market, forecasted to grow to $29.6 billion by 2022, and the Ticketless Safe Parking

double-digit growth, including the Global Safe City market, forecasted to grow to $29.6 billion, and the Ticketless Safe Parking

market, forecasted to grow to $5.2 billion by 2023.

3 unchanged sentences

offer a more complete line of products, services and technological solutions to customers throughout the United States and Israel.

Furthermore, the market in which OMNIQ operates is undergoing consolidation and OMNIQ has started identifying strategic companies

in the data collection, big data analytics and mobile systems integration market, as well as other complementary technologies for potential

future acquisition in order to become the leading specialty integrator within our served markets.

the market in which OMNIQ operates is undergoing consolidation and OMNIQ has started identifying strategic companies in the data collection,

big data analytics and mobile systems integration market, as well as other complementary technologies for potential future acquisition

in order to become the leading specialty integrator within our served markets.

are a provider of products and solutions to two main markets:

supply chain management and smart/safe city.

We have expanded our

product solutions, which are based on artificial intelligence and machine learning algorithms, offering computer vision applications.

Our product offerings have established us as an innovative and technological company, and we are able to offer our Fortune 1000 customers

an end-to-end solution.

We have expanded our product

solutions, which are based on artificial intelligence and machine learning algorithms, offering computer vision applications.

offerings have established us as an innovative and technological company, and we are able to offer our Fortune 1000 customers an end-to-end

We are a pioneer in providing cutting-edge technology solutions to the markets we serve.

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We also offer customers technical service and support.

We take a consultative approach

by offering end-to-end solutions that include software, algorithm, hardware, service contracts, communications and full lifecycle management

We take a consultative approach by offering

end-to-end solutions that include software, algorithm, hardware, service contracts, communications and full lifecycle management services.

simplify the integration process because of our experienced team of professionals.

1 unchanged sentence

customer references.

We offer comprehensive packaged and configurable software, some of which we developed and some is sourced from third

We offer comprehensive packaged and configurable software, some of which we developed, and some is sourced from

third parties.

We are a leading providing of bar-code labels and ribbons (media).

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Once a company purchases our product, sales generally recur on a regular

ground-breaking AI-based vision solutions are currently in use for sensitive Homeland Security anti-terror projects and automated

parking solutions.

Inspired by time-critical “friend or foe” decision-making processes, our patented algorithms are based

on a combination of cognitive science and machine-learning-based pattern-recognition technology which is arbitrated through a multi-layered

decision-making process that offers both speed and accuracy.

ground-breaking AI-based vision solutions are currently in use for sensitive Homeland Security anti-terror projects and automated parking

Inspired by time-critical “friend or foe” decision-making processes, our patented algorithms are based on a combination

of cognitive science and machine-learning-based pattern-recognition technology which is arbitrated through a multi-layered decision-making

process that offers both speed and accuracy.

experienced team of consulting and integration professionals guide companies through the entire development and deployment process, from

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We also deliver full installation services for

all mobile data-collection computers, automatic kiosks, points of care and printing equipment including full staging and kitting

of the equipment.

all mobile data-collection computers, automatic kiosks, points of care and printing equipment including full staging and kitting of the

have been successful in delivering mission-critical mobile-computing and data-collection solutions to Fortune 1000 companies for over

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Enhances efficiency in distribution and manufacturing environments.

The warehouse is a collection of applications for portable

devices that extend the power of your existing system out to the warehouse floor and dock doors.

The warehouse is a collection of applications for

portable devices that extend the power of the existing system out to the warehouse floor and dock doors.

Enhances document delivery performance.

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markets we serve are Smart/Safe City and Supply Chain Management.

Our ground breaking AI-based vision solutions are currently in use

for sensitive Homeland Security anti-terror projects and discerning customers within the access control, airport, border crossing,

municipality safety, and parking industries.

We seek to utilize our expertise and end-to-end software solutions in markets which

provide the greatest opportunity to increase margins.

Our groundbreaking AI-based vision solutions are currently in use for

sensitive Homeland Security anti-terror projects and discerning customers within the access control, airport, border crossing, municipality

safety, and parking industries.

We seek to utilize our expertise and end-to-end software solutions in markets which provide the greatest

opportunity to increase margins.

the Supply Chain Management market, we believe we can further develop our existing customer base needing to replace their legacy systems

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believe integrating our patented and proprietary AI technology into its existing Supply Chain offerings will allow for automated logistics

monitoring and optimization, creating operational efficiencies at higher margins for both us, and our Fortune 1000 clients.

monitoring and optimization, creating operational efficiencies at higher margins for us, and our Fortune 1000 clients.

Sales Strategy

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Concentrations

the years ended December 31, 2021 and 2020, two customers accounted for 23% and one customer accounted for 37.2%, respectively, of the

Company’s consolidated revenues.

the years ended December 31, 2022 and 2021, one customer accounted for 30% and 23%, respectively, of the Company’s consolidated

receivables are made up of trade receivables due from customers in the ordinary course of business.

One customer made up 17% of

the accounts receivable balance as of December 31, 2021, and 46% of the balance of accounts receivable as of December 31, 2020.

As of December 31, 2022, no customer

accounted for more than 10% of the outstanding receivables, and one customer accounted for 17% of the balance of accounts receivable

as of December 31, 2021.

of December 31, 2022 and 2021 one vendor made up 48% and 65%, respectively, of our purchases.

17 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business