secwatch.observer — SEC 8-K summary
======================================

Issuer:     OMNIQ Corp. (OMQS)
CIK:        0000278165
Form:       8-K
Filed at:   2024-04-01T23:59:59+00:00
Accession:  0001493152-24-012496
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

OMNIQ reports FY 2023 revenue of $81.1M, down 19.6% YoY; net loss widens to $29.4M
--------------------------------------------------------------------------------

- FY 2023 revenue $81.1M, down from $100.8M in 2022; net loss $29.4M ($3.45/share) vs $13.6M loss prior year.
- Q4 2023 revenue $16M, net loss $17.8M (includes $14.7M non-cash goodwill impairment).
- Adjusted EBITDA loss $7.4M for FY 2023 vs $2.9M loss in 2022; Q4 adjusted EBITDA loss $3.6M.
- Cash $1.7M at year-end; working capital deficit $45M; raised $2.5M net equity and new credit line.
- Reduced SG&A $4.7M (17% YoY); no customer >10% of revenue in 2023 vs 30% from one in 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/278165/000149315224012496/0001493152-24-012496-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/278165/000149315224012496/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-012496

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer