Company: OMQS
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001813
Chunk: 903

Company: OMNIQ Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 11
Chunk 903
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 January 26, 2024. Approximately 89% of the purchase
price was allocated to Goodwill on the books of Dangot Computers Ltd. The balance was allocated between Accounts receivable and prepaid
expenses and misc other assets. As part of the purchase, the Company was able to replace historical license fees as well as utilize the
software solution to it’s U.S. based customers.

    F-14

NOTE
5 – CONTRACTS WITH CUSTOMERS

The
balance of deferred revenues is included in other current liabilities on the balance sheet. The following table summarizes changes in
deferred revenue as of December 31:

 SCHEDULE
OF DEFERRED REVENUE

    2024  
    2023 
  
    Beginning balance 
    $2,275  
    $1,393 
  
    Less amounts recognized during
    the year 
     (1,012) 
     (945)
  
    Add new deferred revenue 
     4,911  
     1,827 
  
    Ending Balance 
    $6,174  
    $2,275 

The short term deferred revenue at December 31, 2024 was $5.8 million and
the long term deferred revenue was $125 thousand. The Company had deposits from customers of $266 thousand at December 31, 2024.

NOTE
6 – ACCOUNTS RECEIVABLE

Accounts
receivable consisted of the following as of December 31:

 SCHEDULE
OF ACCOUNTS RECEIVABLE

    In
    thousands 
    2024  
    2023 
  
    Trade
    accounts receivable 
    $21,455  
    $19,155 
  
    Less
    allowance for doubtful accounts 
     (510) 
     (501)
  
    Total
    accounts receivable (net) 
    $20,945  
    $18,654 

Accounts
receivables are made up of trade receivables due from customers in the ordinary course of business. As of December 31, 2024, 1 customer
accounted for 26% of the outstanding receivables and as of December 31, 2023, no customer accounted for more than 10% of the outstanding
receivables, and as of .

NOTE
7 – INVENTORY

Inventory
consisted of the following as of December 31:

 SCHEDULE
OF INVENTORY