Third Quarter 2025 Financial Highlights
Revenue increased 15.9% to $11.4 million, compared to $9.8 million in Q3 2024.
Net income increased 17.9% to $677,000, or $0.11 per basic share, compared to $574,000, or $0.10 per basic share, in Q3 2024.
EBITDA increased 29.5% to $920,000 compared to $710,000 in Q3 2024.
Contracted backlog remained strong at $24 million as of September 30, 2025, compared to $24 million on June 30, 2025, and $22 million on March 31, 2025.
Cash and cash equivalents reached a record level of $7.3 million as of September 30, 2025.
Nine Months 2025 Financial Highlights
Revenue increased 28.4% to $37.9 million, compared to $29.6 million in the first nine months of 2024.
Net income increased 53.8% to $2.8 million, or $0.46 per basic share, compared to $1.8 million, or $0.32 per basic share, in the first nine months of 2024.
EBITDA increased 45.6% to $3.7 million compared to $2.5 million in the first nine months of 2024.
Eyal Cohen, Chief Executive Officer of BOS, stated: "We are pleased to report another quarter of robust growth, continuing our record-setting pace in both revenue and profitability. Our year-to-date performance demonstrates the strength of our Supply Chain division's defense sector focus and our successful global diversification strategy. We continue to capitalize on expanding opportunities in this dynamic sector through deeper engagement with existing customers and strategic wins with new ones.
"While our RFID division experienced a nominal operating loss in Q3 due to logistics center slowdowns in Israel, we are confident that improving geopolitical conditions in the Middle East, combined with operational enhancements we have implemented, will drive a return to growth. Meanwhile, our Intelligent Robotics division continues to deliver steady profitability improvements year-over-year, demonstrating our team's ability to drive operational excellence across all business units.
"We are also generating strong cash flows from our efficient operating platform, bringing cash and cash equivalents to $7.3 million—providing a solid foundation to support our continued strategic growth initiatives."
Cohen concluded: "Given our strong execution and $24 million backlog, we are raising our full-year 2025 financial guidance. We now expect our results to be at the high end of our previous guidance range of $45-$48 million in revenue and $2.6-$3.1 million in net income."
Investor Conference Call
BOS will host a video conference call on November 25, 2025 at 8:30 a.m. EDT. A question-and-answer session will follow management's presentation. To access the video conference, please click on the following link:
https://us06web.zoom.us/j/84586132530?pwd=MR8FSUWdKBSvsBtc0KTHYDZRZQiIcb.1
For those unable to participate in the live call, a recording will be available the following 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 operates 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, delivering innovative solutions that meet evolving customer needs.
For more information on BOS Better Online Solutions Ltd., visit www.boscom.com.
Contacts
Matt Kreps, Managing Director Darrow Associates
Eyal Cohen,
Use of Non-GAAP Financial Information
BOS reports financial results in accordance with U.S. GAAP and also provides certain 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 prepared in accordance with GAAP. The Company uses these non-GAAP measures to evaluate and manage its operations internally and is providing this information to assist investors in performing additional financial analysis 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 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, among others, the dependency of sales being generated from one or a few major customers, the uncertainty of BOS being able to maintain current gross profit margins, inability to keep up with 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 ongoing regional conflicts, 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 U.S. 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 (except share and per share numbers)
Nine months ended September 30,
Three months ended September 30,
2025
2024
2025
2024
(Unaudited)
(Unaudited)
Revenues
$
37,945
$
29,561
$
11,392
$
9,827
Cost of revenues
28,892
22,648
8,558
7,672
Gross profit
9,053
6,913
2,834
2,155
Operating costs and expenses:
Research and development
130
125
44
41
Sales and marketing
3,906
3,276
1,366
1,063
General and administrative
1,721
1,457
640
500
Impairment of Goodwill
700
-
-
-
Total operating costs and expenses
6,457
4,858
2,050
1,604
Operating income
2,596
2,055
784
551
Financial income (expenses), net
382
(238
)
(42
)
24
Income before taxes on income
2,978
1,817
742
575
Taxes on income
186
2
65
1
Net income
$
2,792
$
1,815
$
677
$
574
Basic net income per share
$
0.46
$
0.32
$
0.11
$
0.10
Diluted net income per share
$
0.43
$
0.31
$
0.10
$
0.10
Weighted average number of shares used in computing basic net income per share
6,005
5,750
6,163
5,753
Weighted average number of shares used in computing diluted net income per share
6,448
5,854
6,663
5,884
Number of outstanding shares as of September 30, 2025 and 2024
6,186
5,761
6,186
5,761
CONSOLIDATED BALANCE SHEETS
(U.S. dollars in thousands)
September 30, 2025
December 31, 2024
(Unaudited)
(Audited)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents
$
7,316
$
3,368
Restricted bank deposits
67
185
Trade receivables
14,061
11,787
Other accounts receivable and prepaid expenses
1,074
1,150
Inventories
6,619
7,870
Total current assets
29,137
24,360
LONG-TERM ASSETS
139
177
PROPERTY AND EQUIPMENT, NET
3,466
3,417
OPERATING LEASE RIGHT-OF-USE ASSETS, NET
774
