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B.O.S. Better Online Solutions .(BOSC) - 2024 Q4 - Annual Report
2025-03-31 14:14
Exhibit 99.1 BOS Reports Financial Results for the Fourth Quarter and Full Year 2024 Net Income Rises 14.7% Year-Over-Year on Increased Gross Margin, Ef icient Operations Provides Initial 2025 Outlook for Further 10% Growth in Sales and Net Income RISHON LE ZION, Israel, March 31, 2025 – BOS Better Online Solutions Ltd. ("BOS" or the "Company") (NASDAQ: BOSC) reported its financial results for the fourth quarter and full year 2024. Fourth Quarter 2024 Financial Highlights: Eyal Cohen, BOS' CEO, stated: "BOS ...
B.O.S. Better Online Solutions .(BOSC) - 2024 Q4 - Earnings Call Transcript
2025-03-31 12:30
Financial Data and Key Metrics Changes - The company reported revenues of $40 million for year '24, a decrease from the record $44 million in year '23, reflecting a return to normalized purchasing after post-COVID restocking [15] - For year '25, the company projects revenues of $44 million and net income of $2.5 million, indicating a 10% year-over-year increase [16][23] - The backlog increased by 35% to $27 million at the end of year '24, driven by exposure to the booming defense sector [16] Business Line Data and Key Metrics Changes - The supply chain division has doubled its engineering team and tripled the number of manufacturers represented, enhancing market position and growth trajectory [7] - The RFID division is expanding its salesforce to capture the rebound in the Israeli civil market and will add off-the-shelf packing machines for logistics centers [18] - The robotic division is preparing for its first installation of a robotic production line in Europe in the first half of year '25 [19] Market Data and Key Metrics Changes - The Israeli defense budget rose by 73% year-over-year, while Europe's defense budget increased by 16% year-over-year, positively impacting key clients [17] - The company has achieved $4 million in overseas sales in year '24 from its supply chain division, indicating successful international expansion [19] Company Strategy and Development Direction - The growth strategy focuses on strengthening relationships with defense clients and expanding internationally [17] - The company aims to deepen its offerings to defense clients, including the recent addition of cable in line [18] - The company is leveraging its Israeli defense client base to align with their global subcontractors for international growth [18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for year '25, citing a growing backlog and favorable trends in the defense sector [16][23] - The company is in excellent financial shape with $21 million in equity and zero bank debt, providing flexibility for strategic growth [23][24] - Management highlighted the significant discount at which the company is trading compared to broader market benchmarks, indicating a compelling investment opportunity [20][21] Other Important Information - The company has partnered with a US-based investor relations firm to enhance its presence in the US capital market, resulting in increased trading volume from 4,000 shares to 58,000 shares [21][22] - The company recorded an impairment charge of $1.2 million related to goodwill, impacting net income for year '24 [32] Q&A Session Summary Question: Guidance on the new robotics line in Europe and its impact from the war in Ukraine - Management clarified that they do not have direct sales in Europe but align with major Israeli clients who export and require local production [28][29] Question: Clarification on tax loss carry forward - Management confirmed approximately $30 million in carry forward tax losses, which could provide up to $6 million in future tax savings, with only $1 million recognized as an asset [31] Question: Impact of new head of procurement on defense contracts - Management expressed confidence that the new hire will help capitalize on opportunities in the defense market and indicated updates will be provided if significant developments occur [35]
BOS Reports Financial Results for the Fourth Quarter and Full Year 2024
Newsfilter· 2025-03-31 11:30
Net Income Rises 14.7% Year-Over-Year on Increased Gross Margin, Efficient Operations Provides Initial 2025 Outlook for Further 10% Growth in Sales and Net Income RISHON LE ZION, Israel, March 31, 2025 (GLOBE NEWSWIRE) -- BOS Better Online Solutions Ltd. ("BOS" or the "Company") (NASDAQ:BOSC) reported its financial results for the fourth quarter and full year 2024. Year 2024 Financial Highlights: Fourth Quarter 2024 Financial Highlights: Eyal Cohen, BOS' CEO, stated: "BOS improved profitability on an operat ...
BOS Adds $1.2 Million to Backlog with New Defense Supply Chain Order
Newsfilter· 2025-03-25 12:30
Core Viewpoint - BOS Better Online Solutions Ltd. has secured a new defense order worth $1.2 million, expected to be delivered by Q3 2025, indicating a positive trend in defense spending and opportunities for the company [1][2]. Company Overview - BOS specializes in integrating supply chain technologies across three divisions: Intelligent Robotics, RFID, and Supply Chain, aimed at enhancing operational efficiency and inventory management [3][4]. - The Intelligent Robotics Division focuses on automating industrial and logistics inventory processes using advanced robotics technologies [4]. - The RFID Division provides state-of-the-art solutions for inventory management, ensuring real-time visibility and control [4]. - The Supply Chain Division integrates franchised components into customer products, catering to the evolving needs for cutting-edge product development [4]. Industry Insights - There is an observed increase in global defense spending, which is creating new opportunities for BOS and its primary customers and subcontractors [2]. - The company anticipates robust ordering patterns in the strategic defense industry to persist throughout 2025 [2].
BOS Announces the Appointment of Osnat Gur as Board Chair and Avi Dadon as Independent Director
Newsfilter· 2025-03-19 12:30
Company Overview - BOS Better Online Solutions Ltd. has appointed Osnat Gur as Board Chair and Avi Dadon as a new independent director [1][3] - Osnat Gur has been on the Board since 2021 and has extensive management experience in B2B marketing, technology, and manufacturing [2][3] - Avi Dadon previously served as Head of Procurement for the Israeli Ministry of Defense, bringing expertise in defense procurement and supply chain management [2][3] Leadership Insights - Osnat Gur expressed gratitude for her appointment and aims to drive growth in revenue and earnings for stockholders [3] - The addition of Avi Dadon is expected to leverage his experience in procurement to support BOS's continued success [3] Business Operations - BOS integrates advanced technologies across three specialized divisions: Intelligent Robotics, RFID, and Supply Chain [4][7] - The Intelligent Robotics Division focuses on automating industrial and logistics inventory processes [7] - The RFID Division enhances inventory management with real-time visibility and control [7] - The Supply Chain Division integrates components directly into customer products to meet evolving needs [7]
BOS Announces the Passing of Chairman Ziv Dekel
Globenewswire· 2025-02-20 13:17
Company Overview - BOS Better Online Solutions Ltd. is an integrator of supply chain technologies, focusing on enhancing supply chain operations through advanced technologies [1][3]. - The company operates through three specialized divisions: Intelligent Robotics Division, RFID Division, and Supply Chain Division [5]. Leadership Change - The passing of Chairman Mr. Ziv Dekel has been announced, prompting the Board of Directors to initiate a search for a new Chairman [1]. - CEO Eyal Cohen highlighted Mr. Dekel's significant impact on the company's strategic direction and success, noting his dedication and leadership [2]. Condolences and Impact - The entire BOS team and Board of Directors expressed their condolences to Mr. Dekel's family, emphasizing that his wisdom and guidance will be deeply missed [3].
BOS to Present at the Emerging Growth Conference on February 18, 2025
Globenewswire· 2025-02-12 13:00
Company Overview - BOS Better Online Solutions Ltd. is an integrator of supply chain technologies, focusing on enhancing supply chain operations through advanced technologies [3] - The company operates through three specialized divisions: Intelligent Robotics Division, RFID Division, and Supply Chain Division [4] Upcoming Event - Eyal Cohen, the CEO of BOS, will present at the Emerging Growth Conference on February 18, 2025, at 9:40 am Eastern Time [1] - The presentation will include an overview of the company and a Q&A session, with questions accepted in advance [1] Technology and Solutions - The Intelligent Robotics Division automates industrial and logistics inventory processes, improving efficiency and precision [4] - The RFID Division provides state-of-the-art solutions for inventory management, ensuring real-time visibility and control [4] - The Supply Chain Division integrates franchised components into customer products, addressing the evolving needs for cutting-edge product development [4]
BOS to Announce Fourth Quarter and Full-Year 2024 Results on March 31, 2025
Newsfilter· 2025-02-11 13:30
Group 1 - BOS Better Online Solutions Ltd. will release its financial results for Q4 and full-year 2024 on March 31, 2025, before market opens [1] - A video conference call will be held on March 31, 2025, at 8:30 a.m. Eastern Time to discuss the results [1] - A recording of the video conference will be available on the BOS website the following day for those unable to attend [1] Group 2 - BOS specializes in integrating advanced technologies to enhance supply chain operations across three divisions: Intelligent Robotics, RFID, and Supply Chain [2] - The Intelligent Robotics Division focuses on automating industrial and logistics inventory processes to improve efficiency and precision [3] - The RFID Division provides solutions for inventory management, ensuring real-time visibility and control [3] - The Supply Chain Division integrates franchised components into customer products to meet evolving needs [3]
BOS to Announce Fourth Quarter and Full-Year 2024 Results on March 31, 2025
Globenewswire· 2025-02-11 13:30
Company Overview - BOS Better Online Solutions Ltd. is an integrator of supply chain technologies, focusing on enhancing supply chain operations through three specialized divisions [2][3] - The company operates an Intelligent Robotics Division that automates industrial and logistics inventory processes, improving efficiency and precision [3] - The RFID Division optimizes inventory management with advanced solutions for marking and tracking, ensuring real-time visibility and control [3] - The Supply Chain Division integrates franchised components directly into customer products, addressing evolving needs for developing cutting-edge products [3] Upcoming Financial Results - BOS will release its financial results for the fourth quarter and full-year ended December 31, 2024, before the market opens on March 31, 2025 [1] - A video conference call will be hosted on March 31, 2025, at 8:30 a.m. Eastern Time to discuss the financial results [1] - A recording of the video conference will be available on the BOS website the following day for those unable to attend [1]
BOS Starts 2025 Growth Plans with a New $2.3 Million Defense Related Order
Globenewswire· 2025-02-03 13:00
Core Insights - BOS Better Online Solutions Ltd. has secured a new order worth $2.3 million from a primary customer in the defense sector, expected for delivery in the first half of 2025 [1][2] - The company is recognized as a trusted partner in the defense industry, benefiting from increased defense budgets and anticipates securing additional contracts throughout 2025 [2] Company Overview - BOS integrates advanced technologies to enhance supply chain operations across three specialized divisions: Intelligent Robotics Division, RFID Division, and Supply Chain Division [4] - The Intelligent Robotics Division focuses on automating industrial and logistics inventory processes, while the RFID Division optimizes inventory management through advanced tracking solutions [4]