Q1 2026 BOS Better Online Solutions Ltd Earnings Call Transcript
Key Points
- BOS Better Online Solutions Ltd (BOSC) reported significant revenue growth from $33.6 million in 2021 to $51 million in 2025, indicating strong organic growth.
- The company is well-positioned to benefit from the global increase in defense budgets, which is a long-term structural trend.
- BOSC has successfully expanded its presence in the Indian market, with $3.3 million in orders in Q1 2026 compared to $172,000 in the same quarter last year.
- The company's backlog increased by 29% in the first quarter of 2026, reaching $31 million, which supports future revenue growth.
- BOSC maintains a solid balance sheet with $29 million in shareholders' equity and $9.5 million in cash net of loans, providing financial flexibility for acquisitions.
- The depreciation of the US dollar against the Israeli shekel is putting pressure on BOSC's profitability.
- The RFID division experienced lower profitability due to partial operations in March and increased labor costs from currency devaluation.
- Despite growth, BOSC's price-to-earnings ratio is lower than the Russell 2000 index, indicating potential undervaluation by investors.
- The company has not yet penetrated the drone market, which is a growing segment in the defense industry.
- BOSC's name may cause confusion among investors, as it does not reflect the company's current focus on defense and supply chain solutions.
Ladies and gentlemen, thank you for joining us today. My name is Claude and I will be leading today's presentation. Following the prepared remarks, Eyal Cohen, Chief Executive Officer; and Moshe Zeltzer, Chief Financial Officer, will be available to take your questions. Before we begin, a brief reminder that this call contains forward-looking statements relating to BOS business, financial condition and results of operations. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated.
Such statements include, but are not limited to, matters relating to product demand, pricing, market acceptance, economic conditions and technology development as further detailed in the company's filings with the various securities authorities.
With that said, let's get started. BOS is a company built around one idea: that supply chains can be smarter, faster and more efficient, and that the right technology makes that possible. We pursue that idea through three specialized divisions. Our Robotics division
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