Company: OMQS
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001813
Chunk: 156

Company: OMNIQ Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 3
Chunk 156
---

    Star - The Company’s total accounts payable due to Blue Star as of December 31, 2024, was approximately $53.6 million. Blue
    Star is an unsecured creditor, financing a substantial amount the Company’s supply chain demand. Management believes that Blue
    Star will continue supplying the Company with preferable credit terms. Blue Star has agreed to the annual interest rate of 5% on
    invoices that are past due. As an unsecured creditor of the Company, Blue Star has no incentive to force a liquidation. The Company
    has enjoyed a good mutual relationship for the past five years.
  
    ●
    Management
    finalized a new line of credit with an additional financial institution.
  
    ●
    In
    October 2023 management finalized an equity raise which resulted in $2.5 million in net cash received from investors.

12

Overview
– Results of Operations

The
following table sets forth certain selected condensed statement of operations data for the periods indicated in dollars. In addition,
we note that the period-to-period comparison may not be indicative of future performance.

    For
    the year ended  
    Variation 
  
    In
    thousands 
    2024  
    2023  
    $  
    % 
  
    Revenue 
    $73,573  
    $81,193  
    $(7,620) 
     (9.39)%
  
    Cost of Goods sold 
    $58,217  
    $65,485  
    $(7,268) 
     (11.10)%
  
    Gross Profit 
    $15,356  
    $15,708  
    $(352) 
     (2.24)%
  
    Operating Expenses 
    $22,267  
    $41,904  
    $(19,637) 
     (46.86)%
  
    Loss from operations 
    $(6,911) 
    $(26,196) 
    $19,285  
     (73.62)%
  
    Net loss 
    $(10,002) 
    $(29,431) 
    $19,429  
     (66.02)%
  
    Net Loss per common Share
    from continuing operations 
    $(0.94) 
    $(3.50) 
    $2.56  
     (73.14)%