Company: MOBBW
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001013762-25-003365
Chunk: 58

Company: Mobilicom Ltd
Filing Date: 2025-03-27
Form: 20-F
Item: Item 5
Chunk 58
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 in the United States, Europe, Israel and other Asian countries.

For more information regarding our business and
operations, see “ Item 4. B. Business Overview” above.

A. Operating Results

Comparison of the years ended December 31,
2024 and 2023

Revenue and Other income

                                      For the twelve months ended December 31,                                                                               
  Revenue                             2024                                                         2023                     Increase/Decrease                
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Revenue                             $                                             3,180,565      $         2,193,791      $                       986,774  
  Other income:                                                                                                                                              
  Government grants from IIA                                                          187,718                  197,041                               (9,323  
  Interest income                                                                     269,771                  293,478                              (23,707  
  Foreign exchange gains                                                              203,593                  359,217                             (155,624  
  Total Revenue and Other income      $                                             3,841,647      $         3,043,527      $                       798,120  

Revenue

Revenues for the year ended
December 31, 2024, were $3,180,565, compared to $2,193,791 for the year ended December 31, 2023, an increase of $986,774, or 45%. The
increase was mainly due to increased orders and delivery primarily for defense purposes, including initial production scaled by few of
our Tier-1 customers

Government grants from
IIA

Grants received under IIA research and development supported programs
for the year ended December 31, 2024, were $187,718, compared to $197,041 for the year ended December 31, 2023 a decrease of $(9,323),
or (5)%.

Interest income

Interest income from short-term bank deposits, for the year ended December
31, 2024, was $269,771, compared to $293,478 for the year ended December 31, 2023, a decrease of $(23,707), or (8)%.
The
decrease was mainly due to lower levels of funds invested under interest bearing bank deposits.

Foreign Exchange gains

Foreign exchange gains were $203,593 for the year ended December 31,
2024, compared to $359,217 for the year ended December 31, 202