As of September 30, 2024, OMNIQ Corp. reported total current assets of $25.5 million, a decrease from $27.4 million at the end of 2023. Total assets also declined to $37.2 million from $39.5 million. Current liabilities increased to $75.8 million, up from $72.7 million, contributing to a total liabilities rise to $77.4 million from $74.5 million. The accumulated deficit worsened to $(120.6 million) from $(113.9 million), while the stockholders’ deficit increased to $(40.2 million) from $(35 million).

In terms of revenue, OMNIQ generated $18.5 million in Q3 2024, an increase from $17.2 million in Q3 2023. However, for the nine months ended September 30, 2024, revenues totaled $55.9 million, down from $65.1 million in the same period of 2023, reflecting a 14% decrease attributed to reduced demand. The cost of goods sold for the nine-month period also decreased to $42 million from $51.5 million, resulting in a gross profit increase to $13.9 million from $13.6 million.

Operating expenses for the nine months ended September 30, 2024, were $17 million, down from $21 million in 2023, indicating a 17% reduction due to a cost-cutting strategy. The net loss for the nine months improved to $(6.7 million) from $(11.7 million), marking a significant reduction of 42.3%. Basic loss per share from continuing operations was $(0.63) compared to $(1.50) in the prior year.

Strategically, OMNIQ's subsidiary, Dangot Computers Ltd., acquired CodeBlocks Ltd. for approximately $1.3 million in January 2024, while divesting its 50% interest in Neway Distribution LTD for approximately $0.3 million in February 2024. The company also received government relief funds of approximately $482,000 during the nine months ended September 30, 2024.

As of September 30, 2024, OMNIQ's cash and cash equivalents stood at $1.2 million, an increase from $0.4 million at the same time in 2023. The working capital deficit was reported at $50 million, compared to $45 million at the end of 2023. The company continues to face challenges, including a significant accounts payable to Blue Star of approximately $48 million, with a 5% annual interest rate on past due invoices.

Management has expressed substantial doubt regarding the company's ability to continue as a going concern within one year, highlighting ongoing financial pressures.