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    BOS Reports Record $15 Million in Revenues for the First Quarter of 2025

    5/29/25 7:30:00 AM ET
    $BOSC
    Computer Communications Equipment
    Telecommunications
    Get the next $BOSC alert in real time by email

    RISHON LE ZION, Israel, May 29, 2025 (GLOBE NEWSWIRE) -- BOS Better Online Solutions Ltd. ("BOS" or the "Company") (NASDAQ:BOSC) reported its financial results for the first quarter of the year 2025.

    First Quarter 2025 Financial Highlights:

    • Revenues increased by 33.1% to $15.0 million from $11.3 million in the first quarter of the year 2024;



    • Gross profit margin improved to 23.9% compared to 22.7% in the first quarter of the year 2024;



    • EBITDA increased by 86.2% to $1.9 million compared to $1.0 million in the first quarter of the year 2024;



    • Operating expenses increased by only 7.7% compared to the 33.1% increase in revenues, demonstrating operating leverage;



    • Net income increased by 82.3% to $1.35 million or $0.23 per basic share compared to $741,000 or $0.13 per basic share in the first quarter of the year 2024;



    • Backlog was $22 million as of March 31, 2025 compared to $27 million as of December 31, 2024.

    Eyal Cohen, Chief Executive Officer at BOS, stated: "I am pleased to report record revenues and record net income in the first quarter, demonstrating the success of our strategic focus on the defense sector and diligent operating efficiency. We continue to capitalize on the growing opportunities in this rapidly changing sector by increasing contracting activity with existing customers and securing new customers."

    "Based on our first quarter performance and contracted backlog, we are optimistic about surpassing our full-year outlook for 2025, which are revenues of $44 million and net income of $2.5 million," Cohen concluded.

    "Our record results in the first quarter reflect BOS's long-term investments in developing a diverse product offering and establishing a robust operational and financial framework, all of which are specifically designed to meet the evolving and distinct demands of the defense industry," said Avidan Zelicovsky, BOS President.

    BOS will host a video conference meeting on May 29, 2024 at 8:30 a.m. EDT. A question-and-answer session will follow management's presentation. To access the video conference meeting, please click on the following link: https://us06web.zoom.us/j/83920447982?pwd=nxng3dstyBqK9argz8YQSsH9Cx4VkE.1

    For those unable to participate in the video conference, a recording of the meeting will be available the next day on the BOS website: www.boscom.com

    About BOS

    BOS integrates cutting-edge technologies to streamline and enhance supply chain operations for global customers in the aerospace, defense, industrial and retail sectors. The Company integrates three specialized divisions:

    - Intelligent Robotics Division: Automates industrial and logistics inventory processes through advanced robotics technologies, improving efficiency and precision.

    - RFID Division: Optimizes inventory management with state-of-the-art solutions for marking and tracking, ensuring real-time visibility and control.

    - Supply Chain Division: Integrates franchised components directly into customer products, meeting their evolving needs for developing innovative solutions.

    For more information on BOS Better Online Solutions Ltd., visit www.boscom.com.

    For additional information, contact:

    Matt Kreps, Managing Director

    Darrow Associates

    +1-214-597-8200

    [email protected]

    Eyal Cohen, CEO

    +972-542525925

    [email protected]

    Use of Non-GAAP Financial Information

    BOS reports financial results in accordance with US GAAP and herein provides some non-GAAP measures. These non-GAAP measures are not in accordance with, nor are they a substitute for, GAAP measures. These non-GAAP measures are intended to supplement the Company's presentation of its financial results that are prepared in accordance with GAAP. The Company uses the non-GAAP measures presented to evaluate and manage the Company's operations internally. The Company is also providing this information to assist investors in performing additional financial analysis that is consistent with financial models developed by research analysts who follow the Company. The reconciliation set forth below is provided in accordance with Regulation G and reconciles the non-GAAP financial measures with the most directly comparable GAAP financial measures.

    Safe Harbor Regarding Forward-Looking Statements



    The forward-looking statements contained herein reflect management's current views with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties that could cause the actual results to differ materially from those in the forward-looking statements, all of which are difficult to predict and many of which are beyond the control of BOS. These risk factors and uncertainties include, amongst others, the dependency of sales being generated from one or few major customers, the uncertainty of BOS being able to maintain current gross profit margins, inability to keep up or ahead of technology and to succeed in a highly competitive industry, inability to maintain marketing and distribution arrangements and to expand our overseas markets, uncertainty with respect to the prospects of legal claims against BOS, the effect of exchange rate fluctuations, general worldwide economic conditions, the effect of the war against the Hamas and other parties in the region, the continued availability of financing for working capital purposes and to refinance outstanding indebtedness; and additional risks and uncertainties detailed in BOS' periodic reports and registration statements filed with the US Securities and Exchange Commission. BOS undertakes no obligation to publicly update or revise any such forward-looking statements to reflect any change in its expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.

     
    CONSOLIDATED STATEMENTS OF OPERATIONS
    U.S. dollars in thousands
     
      Three months ended

    March 31,
        Year ended

    December 31, 
       2025   2024    2024 
       (Unaudited)     (Unaudited)     (Audited) 
          
    Revenues $15,026  $11,287   $39,949 
    Cost of revenues  11,437   8,727    30,655 
    Gross profit  3,589   2,560    9,294 
    Operating costs and expenses:       
    Research and development  41   44    175 
    Sales and marketing  1,263   1,162    4,394 
    General and administrative  542   508    2,113 
    Impairment of intangible assets and Goodwill  -   -    1,173 
    Total operating costs and expenses  1,846   1,714    7,855 
            
    Operating income  1,743   846    1,439 
    Financial expenses, net  (272)  (105)   (139)
    Income before taxes on income  1,471   741    1,300 
    Income taxes benefits (expenses)  (120)  -    1,000 
    Net income $1,351  $741   $2,300 
            
    Basic net income per share $0.23  $0.13   $0.40 
    Diluted net income per share $0.22  $0.13   $0.39 
    Weighted average number of shares used in computing basic net income per share  5,900   5,748    5,756 
    Weighted average number of shares used in computing diluted net income per share  6,273   5,828    5,887 
            
    Number of outstanding shares as of March 31, 2025 and 2024 and December 31, 2024  5,924   5,748    5,793 



     
    CONSOLIDATED BALANCE SHEETS
    (U.S. dollars in thousands)
     
      March 31, 2025 

     December 31, 2024 
      (Unaudited) (Audited)

     
    ASSETS       
            
    CURRENT ASSETS:       
    Cash and cash equivalents $3,844  $3,368 
    Restricted bank deposits  66   185 
    Trade receivables, net  15,839   11,787 
    Other accounts receivable and prepaid expenses  1,235   1,150 
    Inventories  7,505   7,870 
          
    Total current assets  28,489   24,360 
          
    LONG-TERM ASSETS  167   177 
          
    PROPERTY AND EQUIPMENT, NET  3,362   3,417 
          
    OPERATING LEASE RIGHT-OF-USE ASSETS, NET  727   779 
          
    DEFERRED TAX ASSETS  981   1,000 
          
    OTHER INTANGIBLE ASSETS, NET  407   422 
          
    GOODWILL  4,188   4,188 
          
    Total assets $38,321  $34,343 



     
    CONSOLIDATED BALANCE SHEETS
    (U.S. dollars in thousands)
     
      March 31, 2025 December 31, 2024
      (Unaudited) (Audited)
         
    LIABILITIES AND SHAREHOLDERS' EQUITY    
         
    CURRENT LIABILITIES:    
    Current maturities of long-term loans $342  $439 
    Operating lease liabilities, current  161   176 
    Trade payables  7, 769   6,362 
    Employees and payroll accruals  1,128   1,087 
    Deferred revenues  2,543   2,003 
    Accrued expenses and other liabilities  1,091   598 
         
    Total current liabilities  13,034   10,665 
         
    LONG-TERM LIABILITIES:    
    Long-term loans, net of current maturities  921   980 
    Operating lease liabilities, non-current  530   576 
    Long-term deferred revenues  273   293 
    Accrued severance pay, net  514   498 
         
    Total long-term liabilities  2,238   2,347 
         
         
    TOTAL SHAREHOLDERS' EQUITY  23,049   21,331 
         
         
    Total liabilities and shareholders' equity $38, 321  $34,343 



     
    CONDENSED CONSOLIDATED EBITDA
    (U.S. dollars in thousands)
     
      Three months ended

    March 31,
     Year ended

    December 31,
       2025   2024   2024 
           
    Operating income $1,743  $846  $1,439 
    Add:      
    Impairment of Goodwill and other intangible assets    -   1,173 
    Amortization of intangible assets  15   47   190 
    Stock-based compensation  9   21   74 
    Depreciation  101   89   370 
    EBITDA $1,868  $1,003  $3,246 



     
    SEGMENT INFORMATION
    (U.S. dollars in thousands)



     

     

    RFID

     

    Supply

    Chain Solutions

     

    Intelligent

    Robotics

     

    Intercompany

     

    Consolidated

     

     

     

     

       

    Three months ended March 31, 2025



     

     

     

     

     

     

     

     

     

     

     

    Revenues

     

    $

    3,259

     

    $

      11,390

     

     

    496

     

    (119

    )

     

    $

     15,026

     

     

     

     

     

     

     

     

     

     

     

     

    Gross profit  

     

     

    707

     

     

    2,756

     

     

    126

     

     -

     

     

     

    3,589

     

     

     

     

     

     

     

     

     

     

     

     

    Allocated operating expenses

     

     

     529

     

     

    1,048

     

     

    68

     

     -

     

     

     

    1,645

     

     

     

     

     

     

     

     

     

     

     

     

    Unallocated operating expenses*

     

     

     

     

    -

     

     

    -

     

     

     

     

    201

     

     

     

     

     

     

     

     

     

     

     

     

    Income from operations

     

    $

         178

     

    $

        1,708

     

    $

            58

     

     

     

     

    1,743

     

     

     

     

     

     

     

     

     

     

     

     

    Financial expenses and tax on income

     

     

     

     

     

     

     

     

     

     

    (392

    )

     

     

     

     

     

     

     

     

     

     

     

    Net income

     

     

     

     

     

     

     

     

     

    $

             1,351

     



     

     

    RFID

     

    Supply

    Chain Solutions



     

    Intelligent

    Robotics



     

    Intercompany



     

    Consolidated

     



     





       

    Three months ended March 31, 2024

     

     

     

     

     

     

     

     







     

     

    Revenues

     

    $

    3,683

     

    $

        7,356

     

    250

     

     

    (2

    )

     

    $

          11,287

     

     

     

     

     

     

     

     

     

     





     

     

    Gross profit 

     

     

    992

     

     

    1,484

     

    84

     

     

                 -



     

     

    2,560

     

     

     

     

     

     

     

     

     

     

     

     

    Allocated operating expenses

     

     

     565

     

     

    909

     

            62

     

     

                 -



     

     

    1,536

     

     

     

     



     

     

     

     

     

     

     

     

    Unallocated operating expenses*

     

    -

      

    -



     

    -



     

     



     

      

    178

     

    Income  from operations

     

    $

         427

     

    $

           575



    $

            22



     

     



     

      

    846

     

     

     

     

     

     

     

     

     

     

     

     

    Financial expenses and tax on income  

     

     



     

     



     











     

     

     

    (105

    )

     

     

     

     

     

     

     

     

     

     

    Net income

     

     



     

     



     











     

     

    $

               741

     

     

     

     

     

     

     

     

     

     

     



    SEGMENT INFORMATION
    (U.S. dollars in thousands)
     
       

    RFID

     

    Supply Chain Solutions

     

    Intelligent

    Robotics

     

    Intercompany

     

    Consolidated

         

    Year ended December 31, 2024

     
                 
                 

    Revenues

      

    $

     12,877

     

    $

     25,829

      

    1,410

     

    (167

    )

     

    $

      39,949

     
                 

    Gross profit

       

     3,533

      

      5,430

      

                                 331

     



      

    9,294

     
                 
                 

    Allocated operating expenses

       

      2,273

      

     3,338

      

     274

     

         

      

      5,885

     
                 

    Impairment of goodwill and intangible assets

       

     984

      

    189

      

    -

     

         

      

    1,173

     
                 

    Unallocated operating expenses*

       

    -

      

    -

      

    -

        

     797

     
                 

    Income from operations

      

    $

      276

     

    $

     1,903

     

    $

      57

        

    1,439

     
                 

    Financial expenses and tax benefit

               

    861

     
                 

    Net income

              

    $

     2,300

     



    *Unallocated operating expenses include costs not specific to a particular segment but general to the entire group, such as expenses incurred for insurance of directors and officers, public company fees, legal fees, and other similar corporate costs.



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