Company: OMQS
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001813
Chunk: 277

Company: OMNIQ Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 4
Chunk 277
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 method over
the estimated useful lives ranging from 3
to 11
years. Amortization expense for the years ended December 31,
2024 and 2023 was $915 thousand and $1.6
million, respectively

Goodwill
assets consisted of the following as of December 31:

 SCHEDULE OF GOODWILL ASSETS CONSISTED

    In thousands
     
    2024
      
    2023 

    Goodwill balance, beginning of
    year
     
    $
    1,788
      
    $16,542 

    Impairment loss

    -
      
     (14,686)

    Addition of Codeblocks

    1,204
      
     - 

    Effective foreign exchange
    rates

    (74
    ) 
     (68)

    Goodwill balance, end
    of year
     
    $
    2,918
      
    $1,788 

Intangible
assets consisted of the following as of December 31:

 SCHEDULE OF GOODWILL AND INTANGIBLE ASSETS

    In thousands
     
    2024
      
    2023 

    Trade names

    6,217
      
     6,227 

    Customer relationships

    15,567
      
     15,591 

    Other intangibles

    2,165
      
     2,173 

    Accumulated amortization

    (19,237
    ) 
     (18,333)

    Intangibles, net
     
    $
    4,712
      
    $5,658 

The
future amortization expense on the trade names, customer relationships, and other intangibles are as follows:

 SCHEDULE OF FINITE-LIVED INTANGIBLE ASSETS, FUTURE AMORTIZATION EXPENSE 

    In thousands 

    Years ending December 31, 

    2025 
    $776 
  
    2026 
     776 
  
    2027 
     776 
  
    2028 
     659 
  
    Thereafter 
     1,725 

    Total 
    $4,712 

Goodwill
is not amortized but is evaluated for impairment annually or when