Company: ALAR
Filing Date: 2025-03-20
Form Type: 20-F
Source: 0001213900-25-025287
Chunk: 71

Company: Alarum Technologies Ltd.
Filing Date: 2025-03-20
Form: 20-F
Item: Item 5
Chunk 71
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 The period-to-period comparison of results is not necessarily indicative
of results for future periods.

                                                           Year ended           
                                                         December 31,           
  U. S. dollars in millions                                      2024           
 ────────────────────────────────────────────────────────────────────────────────
  Payroll, related expenses and share-based payment               2.9      2.0  
  Professional fees                                               1.8      2.1  
  Impairment loss on trade receivables                            0.4        *  
  Other                                                           0.6      0.3  
  Total General and administrative expenses                       5.7      4.4  

  Less than $0.1  

Our general and administrative
expenses totaled $5.7 million for the year ended December 31, 2024, an increase of $1.3 million, or 32%, compared to $4.4 million for
the year ended December 31, 2023. The increase is primarily due to a $0.9 million increase related to a headcount increase and higher
payroll payments, and higher share-based compensation payments of $0.4 million. Also, we had a $0.4 million impairment loss on trade receivables
resulting mainly from two customers.

Impairment of Goodwill

In 2023, we recorded impairment
of goodwill of $6.3 million related to the CyberKick cash-generating-unit. There was no goodwill impairment in 2024.

Operating profit (loss)

As a result of the foregoing,
our operating profit for the year ended December 31, 2024, was $6.7 million, compared to an operating loss of $5.5 million for the year
ended December 31, 2023.

Financial income (expense), net

We had net finance income
of $0.3 million for the year ended December 31, 2024, compared to net finance expense of $0.6 million for the year ended December 31,
2023. This change is mainly related to interest income from cash deposits in 2024, compared to interest expenses in 2023 related to the
bank short-term loan and the strategic funding loan, as well as finance expenses related to the September 2023 private placement.

Tax benefit (expense)

We had a tax expense of $1.2
million for the year ended December 31, 2024, compared to a tax benefit of $