Company: OMQS
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001813
Chunk: 69

Company: OMNIQ Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 69
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2,508 
  
    Total revenues 
    $73,573  
    $81,193 

The
Company’s operations are subject to various political, economic, and other risks and uncertainties inherent in the countries in
which the Company operates. Among other risks, the Company’s operations are subject to the risks of restrictions on transfer of
funds, export duties, quotas and embargoes, domestic and international customs and tariffs, changing taxation policies, foreign exchange
restrictions, political conditions, and governmental regulations.

We
are closely monitoring developments in the war between Israel and Hamas that began on October 7, 2023 including potential impacts to
The Companies business, customers, suppliers, employees, and operations in Israel, the Middle East and elsewhere. At this time, impacts
to The Company are expected to be minimal but is subject to change given the volatile nature of the situation.

NOTE
17 – INCOME TAX

For
the year ended December 31, 2024, the Company has $12 thousand of current income tax expense (US State & Local and Foreign) and $882
thousand deferred income tax benefit.

The
tax effect of temporary differences that give rise to deferred tax assets and deferred tax liabilities are as follows as of December
31,

 SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES

    In thousands 

    Deferred tax assets 
    2024  
    2023 
  
    Reserves and deferred revenue 
    $1,395  
    $1,213 
  
    163(j) Limitation 
     3,752  
     3,165 
  
    Foreign deferred tax assets 
     1,238  
     356 
  
    Net operating loss 
     11,174  
     10,731 
  
    Total gross deferred tax assets 
     17,559  
     15,465 
  
    Less: Valuation Allowance 
     (16,316) 
     (14,947)
  
    Net deferred tax assets 
     1,243  
     518 

    Deferred tax liabilities 

    Depreciation 
     (4) 
     (162)
  
    Total deferred tax liabilities 
     (4) 
     (162)

    Net deferred tax assets 
    $1,239  
    $356 

    F-25

Components
of net deferred tax assets,