Shai Lustgarten: Thank you.
Operator: Your next question is coming from Blair Abernethy at Rosenblatt.
Blair Abernethy: Hi, good morning. Shai just wanted to just dig in a little more on this fast food restaurant, when the sort of 800 stores? Can you just describe to us sort of how this came about. Did this come directly or is this through, you know, certain channel partners? And what, you know, what’s sort of the rollout here? Are they going to pilot a few stores? Or just give us some – sense of the pace of that kind of rollout?
Shai Lustgarten: It came from a reseller, what we focused on — what we started focusing on in 2022 is to establish a reseller channel, because there’s no way we can reach all of the customers in that sector, nationwide by ourselves. And there are many more, it’s not only drive throughs that are at restaurants, these are drive throughs also at some other retail providers in different other markets. So like we said before, there are so many of them, hundreds, tens of thousands certainly. So there’s no way OMNIQ can do that by itself. And in 2022 we started establishing our reseller channel and very proud that this opportunity came from one of them. And what we’ve done, we’ve already had concluded the pilot. And today, we have already deployed in more than 14 locations.
And this is an ongoing process with our customer. The deployment – they’re looking to deploy that all over. So we’re engaged with them on a deployment schedule. I would mention also that we’re receiving another contract for another – to automate another drive through like I mentioned from another retail sector, not the restaurants. But again, the drive through is a drive through. And there we’re talking about an opportunity which is four times larger than the one we’ve just discussed in the of this restaurant chain. So, and we over there – this contract we already received, we had finished the pilot as well and now expecting the first order of deployment into we expect at least 20 locations.
Blair Abernethy: Would that be something like a bank potentially bank drive through?
Shai Lustgarten: No, but that’s a great idea.
Blair Abernethy: So the banks might be interested in seeing this kind of –
Shai Lustgarten: Yes, I agree. And that’s exactly the point sir. When you look at the – that the I would say the best emphasis that I would put on this remark you just had because is when you have a technological platform like ours, the machine vision, one, which senses and creates automatic actions, you could actually utilize that in every sector, right? It’s a platform. And now it is our objective to try to capture as much as possible as quick as possible. So we’re trying. And yes, bank, like you just mentioned is just one another example of where we could be very, you know, attractive to, in utilizing not only automatic actions, but actually think about the data, which is even more interesting. And in the customizations, and the characteristics now that you can provide through the data you gather, and all the analytics that comes with it.
Blair Abernethy: Excellent. And just on that – on the fast food chain that you’re working on now, what’s the recurring revenue component look like in that deal?
Shai Lustgarten: So as this was our first customer, the recurring revenue portion of it, I think, if we try to put it in percentage of the – out of each location would be something like 25%. Of course, going forward, we’re looking at raising that, that component, the recurring component in the business model to achieve – to be at 60% minimum.
