BOSC BOS Better Online Solutions

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

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

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:

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

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 .

For additional information, contact:

Matt Kreps, Managing Director

Darrow Associates



Eyal Cohen, CEO



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.



EN
29/05/2025

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