Growth of 12% in Revenues as compared to Second Quarter of 2021

RISHON LE ZION, Israel, August 23, 2022 – BOS Better Online Solutions Ltd. (“BOS” or the “Company”) (NASDAQ: BOSC) reported its financial results for the second quarter of the year 2022. 

Revenues for the second quarter of 2022 grew by 12% to $10.3 million from $9.2 million in the comparable quarter last year.

Gross profit margin for the second quarter of 2022 improved to 21.4%, compared to 17.3% in the comparable quarter last year.  

Operating profit for the second quarter grew by 315% to $537,000 compared to an operating profit of $129,000 in the comparable quarter last year. 

EBITDA for the second quarter increased to $652,000 from $207,000 in the comparable quarter last year. 

Financial expenses for the second quarter of 2022 increased to $378,000 compared to a financial income of $13,000 in the comparable quarter last year. This increase in expenses is attributed to foreign exchange differences between the Israeli NIS and the US dollar. 

 As of June 30, 2022, we had $3.2 million of net assets linked to the Israeli NIS. The devaluation of the Israeli NIS against the US dollar by 10.2% during the second quarter of 2022 caused expenses in the amount of $320,000. Conversely, this devaluation reduced our operating expenses by approximately $40,000. The devaluation of the US dollar against the Israeli NIS commencing July 1, 2022, is expected to generate income from foreign exchange differences in the third quarter of 2022. 

As a result of the above, net income for the second quarter of 2022 was $159,000 or $0.03 per basic share compared to a net income of $141,000 or $0.03 per basic share in the comparable quarter last year.

Eyal Cohen, BOS’s CEO stated: “I am encouraged by the growth of 27.6% in revenues and of 175% in operating profit in the first six months of the year 2022 as compared to the corresponding period last year. We have a relatively strong backlog that is expected to support this trend in the second half of 2022. This advances us towards meeting our financial targets for the year 2022, which are revenues of over $35 million (compared to $33.6 million in the year 2021) and net income in excess of $1 million (compared to a net income of $451,000 in the year 2021.)”  

Ziv Dekel, BOS’s Chairman stated: “During the first half of 2022, the Company continued the execution of its turnaround process, which has led to encouraging financial results. Led by Eyal, BOS’ management is focused on growth initiatives, and is working diligently towards realizing its potential.”

BOS will host a conference call on Tuesday, August 23, 2022, at 9:00 a.m. EDT – 4:00 p.m., Israel Time. A question-and-answer session will follow management’s presentation. 

To access the conference call, please dial one of the following numbers:

US: +1-888-281-1167, International: +972-3-9180644.

For those unable to listen to the live call, a replay of the call will be available the next day on the BOS website: www.boscom.com

About BOS

BOS provides services and systems for inventory production and management in three channels:

•     Services – The Supply Chain division provides inventory procurement and kitting.
•     Integration – the RFID division provides off-the-shelf software and equipment to track and manage inventory in the production floor and warehouse.
•     Development – the Intelligent Robotics division develops and builds custom-made robotic cells for industrial and logistic processes.

Contact:
Eyal Cohen, CEO
+972-542525925 | eyalc@boscom.com

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, failure to successfully integrate and achieve the potential benefits of the acquisition of the business operations of Imdecol Ltd. (the Robotics business line) and of Dagesh Inventory Counting and Maintenance Ltd., 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 impact of the COVID-19 virus and 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

 

		Six months ended June 30,				Three months ended June 30,
		2022		2021		2022			2021
		(Unaudited)				(Unaudited)
Revenues		$       21,138		$       16,557		$      10,350					$      9,229
Cost of revenues		16,667		13,274		8,130					7,626
Gross profit		4,471		3,283		2,220					1,603
Operating costs and expenses:
Research and development		87		114		36					54
Sales and marketing		2,340		1,929		1,176					977
General and administrative		999		877		471					443
Acquisition expenses		44		–		–					–
Total operating costs and expenses		3,470		2,920		1,683					1,474
Operating income		1,001		363		537					129
Financial income (expenses), net		(529)		(98)		(378)					13
Income before taxes on income		472		265		159					142
Taxes on income		–		(1)		–					(1)
Net income		$            472		$            264		$            159					$            141
Basic and diluted net income per share		$           0.09		$           0.05		$       0.03					$       0.03
Weighted average number of shares used in computing basic net income per share		5,395		5,188		5,538				5,219
Weighted average number of shares used in computing diluted net income per share		5,438		5,216		5,570				5,252
Number of outstanding shares as of June 30, 2022 and  2021		5,702		5,224		5,702				5,224

CONSOLIDATED BALANCE SHEETS

 (U.S. dollars in thousands)

		June 30, 2022								December 31, 2021
		(Unaudited)							(Audited)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents		$ 1,120					$    1,875
Restricted bank deposits		130					242
Trade receivables		10,039					9,209
Other accounts receivable and prepaid expenses		1,324					977
Inventories		5,618					5,567
Total current assets		18,231					17,870
LONG-TERM ASSETS		160					150
PROPERTY AND EQUIPMENT, NET		1,373					1,097
OPERATING LEASE RIGHT-OF-USE ASSETS, NET		721					944
OTHER INTANGIBLE ASSETS, NET		548					20
GOODWILL		4,895					4,676
Total assets		$ 25,928					$      24,757

CONSOLIDATED BALANCE SHEETS

(U.S. dollars in thousands)

		June 30,  2022		December 31, 2021
		(Unaudited)		(Audited)
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Current maturities of long term loans		$ 573		$        740
Operating lease liabilities, current		352		538
Trade payables		6,031		5,200
Employees and payroll accruals		992		996
Deferred revenues		422		917
Advances net of inventory in process		144		249
Accrued expenses and other liabilities		335		112
Total current liabilities		8,849		8,752
LONG-TERM LIABILITIES:
Long-term loans, net of current maturities		317		681
Operating lease liabilities, non-current		403		565
Long term deferred revenues		327		132
Accrued severance pay		249		280
Total long-term liabilities		1,296		1,658
TOTAL SHAREHOLDERS’ EQUITY		15,783		14,347
Total liabilities and shareholders’ equity		$   25, 928		$ 24,757

CONDENSED CONSOLIDATED EBITDA

 (U.S. dollars in thousands)

		Six months ended June 30,				Three months ended June 30,
		2022		2021		2022		2021
Operating income		$      1,001		$      363		$     537			$     129
Add:
Amortization of intangible assets		45		10		31			5
Stock-based compensation		50		31		25			16
Depreciation		118		111		60			57
EBITDA		$            1,214		$            515		$              653			$             207

 

SEGMENT INFORMATION

(U.S. dollars in thousands)

		RFID			Supply Chain Solutions			Intelligent Robotics		Intercompany				Consolidated
						Six months ended June 30, 2022
Revenues		$ 7,693			$ 12,873			$         572		$ –				$ 21,138
Gross profit (loss)		1,915			2,575			(19)		–				4,471
Allocated operating expenses		1,209			1,585			271		–				3,065
Acquisition expenses		44			–			–		–				44
Unallocated operating expenses*		–			–			–						361
Income (loss) from operations		$ 662			$ 990			$ (290)		–				1,001
Financial expenses and tax on income	(529)
Net income														$ 472
		RFID			Supply Chain Solutions			Intelligent Robotics		Intercompany				Consolidated
						Six months ended June 30, 2021
Revenues		$ 6,322			$ 9,249			$         1,036		$           (50)				$ 16,557
Gross profit		1,553			1,699			31		–				3,283
Allocated operating expenses		1,112			1,148			336		–				2,596
Unallocated operating expenses*														324
Income (loss) from operations		$ 441			$ 551			$ (305)						363
Financial expenses and tax on income														(99)
Net income														$ 264

 

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

SEGMENT INFORMATION

(U.S. dollars in thousands)

			RFID				Supply Chain Solutions		Intelligent Robotics				Intercompany				Consolidated
						Three months ended  June 30,  2022
Revenues			$ 3,590				$ 6,366		$ 394				$           –					$ 10,350
Gross profit			885				1,332		3				–					2,220
Allocated operating expenses			566				809		129				–					1,504
Unallocated operating expenses*													–					179
Income (loss) from operations			$ 319				$ 523		$ (126)				–					537
Financial expenses and tax on income																		378
Net income																		$ 159

 

			RFID				Supply Chain Solutions		Intelligent Robotics				Intercompany				Consolidated
						Three months ended  June 30,  2021
Revenues			$ 3,374				$ 5,295		$ 582				$           (22)					$ 9,229
Gross profit (loss)			706				1,050		(153)				–					1,603
Allocated operating expenses			567				612		138				–					1,319
Unallocated operating expenses*																		155
			–				–		–
Income (loss) from operations			$ 139				$ 438		$ (291)				–					129
Financial income and tax on income																		12
Net income																		$ 141

 

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

RISHON LEZION, Israel, August 1, 2022– B.O.S. Better Online Solutions Ltd. (“BOS” or the “Company”) (NASDAQ: BOSC), announced today that it will release its financial results for the second quarter of 2022 before the market opens on Tuesday, August 23, 2022.

BOS will host a conference call on August 23, 2022 at 9:00 a.m. EDT – 4:00 p.m., Israel Time. A question-and-answer session will follow management’s presentation.

To access the conference call, please dial one of the following numbers:

US: +1-888-281-1167, International: +972-3-9180644.

For those unable to listen to the live call, a replay of the call will be available the next day on the BOS website: http://www.boscorporate.com

About BOS:
BOS provides services and systems for inventory production and management in three channels:

• Services – The Supply Chain division provides inventory procurement and kitting – www. BOSSupplyChain.com.
• Integration – the RFID division provides off-the-shelf software and equipment to track and manage inventory in the production floor and warehouse – www.BOSRFID.com.
• Development – the Intelligent Robotics division develops and builds custom-made robotic cells for industrial and logistic processes – www.BOSRobotics.com.

Contact:
Eyal Cohen, CEO
+972-542525925 | eyalc@boscom.com

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, failure to successfully integrate and achieve the potential benefits of the acquisition of the business operations of Imdecol Ltd. (the Intelligent Robotics business line) and Dagesh Inventory Counting and Maintenance Ltd.,  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 impact of the COVID-19 virus, 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.

RISHON LE ZION, Israel, June 2, 2022 (GLOBE NEWSWIRE) — BOS Better Online Solutions Ltd. (“BOS” or the “Company”) (NASDAQ: BOSC) announced today that its Intelligent Robotics Division had received a $300,000 order.

Eyal Cohen, BOS’s CEO, stated: “This order from an existing customer demonstrates the clear added value of our Robotics systems to industrial automation. We focus on recurring sales to existing customers and also target new customers with ongoing extensive automation needs. We carefully choose the projects we undertake in order to reduce the development risks inherent to custom-made robotics and automation systems.” 

About BOS

BOS provides services and systems for inventory production and management in three channels:

• Services – The Supply Chain division provides inventory procurement and kitting – www. BOSSupplyChain.com.
• Integration – the RFID division provides off-the-shelf software and equipment to track and manage inventory in the production floor and warehouse – www.BOSRFID.com.
• Development – the Intelligent Robotics division develops and builds custom-made robotic cells for industrial and logistic processes – www.BOSRobotics.com.

Contact 

Eyal Cohen, CEO
+972-542525925 | eyalc@boscom.com

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, failure to successfully integrate and achieve the potential benefits of the acquisition of the business operations of Imdecol Ltd. (the Intelligent Robotics business line) and Dagesh Inventory Counting and Maintenance Ltd.,  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 impact of the COVID-19 virus, 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.

47% growth in revenues

RISHON LE ZION, Israel, May 31, 2022 – BOS Better Online Solutions Ltd. (“BOS” or the “Company”) (NASDAQ: BOSC) reported its financial results for the first quarter of the year 2022.

Revenues for the first quarter of 2022 increased by 47% to $10.8 million compared to $7.3 million in the comparable quarter of last year.

Operating income for the first quarter of 2022 increased by 98% to $465,000 compared to $234,000 in the comparable quarter of last year.

Net income for the first quarter of 2022 increased by 155% to $314,000 or $0.06 per basic share compared to a net income of $123,000 or $0.02 per basic share in the comparable quarter of 2021.

Eyal Cohen, BOS’s CEO stated: “I am encouraged by the strong opening of the first quarter of the year 2022. The globally increasing demand for electronic components and the military conflict in Europe were  catalysts for the growth of the Supply Chain division. In addition, the increase in the number of logistic centers in Israel and the return of the retail stores to work on a full scale supported the growth of the RFID division. Looking forward, I anticipate that the shortage of workers for production and the logistics operations will be a growth engine for our Intelligent Robotic division”. 

BOS will host a conference call on Tuesday, May 31, 2022 at 9:00 a.m. EDT – 4:00 p.m., Israel Time. A question-and-answer session will follow the management’s presentation. 

To access the conference call, please dial one of the following numbers:

US: +1-888-281-1167, International: +972-3-9180644.

For those unable to listen to the live call, a replay of the call will be available the next day on the BOS website: www.boscom.com

 

About BOS

BOS provides services and systems for inventory production and management in three channels:

•     Services – The Supply Chain division provides inventory procurement and kitting.
•     Integration – the RFID division provides off-the-shelf software and equipment to track and manage inventory in the production floor and warehouse.
•     Development – the Intelligent Robotics division develops and builds custom-made robotic cells for the industrial and logistic processes.

Contact:
Eyal Cohen, CEO
+972-542525925 | eyalc@boscom.com

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, failure to successfully integrate and achieve the potential benefits of the acquisition of the business operations of Imdecol Ltd. (the Robotics business line) and of Dagesh Inventory Counting and Maintenance Ltd., 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 impact of the COVID-19 virus and 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,
			2022		2021			2021
			(Unaudited)					(Audited)
Revenues			$10,789		$7,328			$33,634
Cost of revenues			8,537		5,648			27,048
Gross profit			2,252		1,680			6,586
Operating costs and expenses:
Research and development			51		60			208
Sales and marketing			1,150		952			3,955
General and administrative			527		434			1,906
Acquisition expenses			59		–			–
Total operating costs and expenses			1,787		1,446			6,069
Operating Income			465		234			517
Financial expenses, net			(151)		(111)			(105)
Income before taxes on income			314		123			412
Taxes on income			–		–			39
Net income			$                314		$               123			$              451
Basic net income per share			$             0.06			$          0.02		$             0.09
Diluted net income  per share			$             0.06			$          0.02		$            0.08
Weighted average number of shares used in computing basic net income per share			5,251		5,157			5,212
Weighted average number of shares used in computing diluted net income per share			5,291		5,185			5,424
Number of outstanding shares as of March 31, 2022 and 2021 and December 31, 2021			5,251		5,185			5,251

CONSOLIDATED BALANCE SHEETS

 (U.S. dollars in thousands)

		March 31, 2022								December 31, 2021
		(Unaudited)							(Audited)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents		$ 1,300					$    1,875
Restricted bank deposits		239					242
Trade receivables		10,552					9,209
Other accounts receivable and prepaid expenses		1,408					977
Inventories		5,541					5,567
Total current assets		19,040					17,870
LONG-TERM ASSETS		135					150
PROPERTY AND EQUIPMENT, NET		1,073					1,097
OPERATING LEASE RIGHT-OF-USE ASSETS, NET		858					944
OTHER INTANGIBLE ASSETS, NET		580					20
GOODWILL		4,895					4,676
Total assets		$ 26,581					$      24,757

CONSOLIDATED BALANCE SHEETS

(U.S. dollars in thousands)

		March 31, 2022		December 31, 2021
		(Unaudited)		(Audited)
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Current maturities of long term loans		$ 670		$        740
Operating lease liabilities, current		475		538
Trade payables		6,711		5,200
Employees and payroll accruals		1,118		996
Deferred revenues		455		917
Advances net of inventory in process		371		249
Accrued expenses and other liabilities		333		112
Total current liabilities		10,133		8,752
LONG-TERM LIABILITIES:
Long-term loans, net of current maturities		505		681
Operating lease liabilities, non-current		518		565
Long term deferred revenues		465		132
Accrued severance pay		273		280
Total long-term liabilities		1,761		1,658
TOTAL SHAREHOLDERS’ EQUITY		14,687		14,347
Total liabilities and shareholders’ equity		$   26,581		$ 24,757

CONDENSED CONSOLIDATED EBITDA

 (U.S. dollars in thousands)

		Three months ended  March 31,				Year ended December 31,
		2022		2021		2021
Operating income		$          465		$          234		$        517
Add:
Amortization of intangible assets		14		5		20
Stock-based compensation		25		15		67
Depreciation		58		54		238
EBITDA		$        562		$        308		$    842

SEGMENT INFORMATION

(U.S. dollars in thousands)

		RFID			Supply Chain Solutions			Intelligent Robotics		Intercompany				Consolidated
						Three months ended March 31, 2022
Revenues		$ 4,103			$ 6,508			178		$ –				$ 10,789
Gross profit		1,031			1,244			(23)		–				2,252
Allocated operating expenses		627			776			141		–				1,544
Acquisition expenses		59			–			–						59
Unallocated operating expenses*		–			–			–						184
Income (loss) from operations		$ 345			$ 468			$ (164)		–				465
Financial expenses														(151)
Net income														$ 314

 

		RFID			Supply Chain Solutions			Intelligent Robotics		Intercompany				Consolidated
						Three months ended March 31, 2021
Revenues		$ 2,948			$ 3,954			454		$ (28)				$ 7,328
Gross profit		848			648			184		–				1,680
Allocated operating expenses		545			535			198		–				1,278
Unallocated operating expenses*		–			–			–						169
Income (loss) from operations		$ 303			$ 113			$ (14)		–				234
Financial expenses														(111)
tax on income
Net income														$ 123

 

		RFID			Supply Chain Solutions			Intelligent Robotics		Intercompany				Consolidated
						Year ended December 31, 2021
Revenues		$ 13,192			$ 19,008			1,576		$           (142)				$ 33,634
Gross profit (loss)		3,338			3,708			(460)		–				6,586
Allocated operating expenses		2,300			2,497			573		–				5,370
Unallocated operating expenses*		–			–			–						699
Income (loss) from operations		$ 1,038			$ 1,211			$ (1,033)		–				517
Financial expenses														(105)
tax on income														39
Net income														$ 451

RISHON LE ZION, Israel, May 23, 2022 (GLOBE NEWSWIRE) — BOS Better Online Solutions Ltd. (“BOS” or the “Company”) (NASDAQ: BOSC) announced today that its RFID Division has received an order for an amount of $330,000 from an Israeli defense-industry customer.

Uzi Parizat, VP of sales and marketing of the RFID Division, stated: “This is a significant order for warehouse management software and mobile equipment for tracing inventory. The order is for delivery through the year 2023”.

Eyal Cohen, BOS’ CEO, stated: “I am very pleased that this customer of our Supply Chain division has now placed an order with our RFID division. In the future, we hope to be able to provide this customer also with the customized robotic systems of our Intelligent Robotics division.”

About BOS

BOS provides services and systems for inventory production and management in three channels:

• Services – The Supply Chain division provides inventory procurement and kitting.
• Integration – the RFID division provides off-the-shelf software and equipment to track and manage inventory in the production floor and warehouse.
• Development – the Intelligent Robotics division develops and builds custom-made robotic cells for the industrial and logistic processes.

Contact: Eyal Cohen, CEO
+972-542525925 | eyalc@boscom.com

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, failure to successfully integrate and achieve the potential benefits of the acquisition of the business operations of Imdecol Ltd. (the Robotics business line) and Dagesh Inventory Counting and Maintenance Ltd., 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 impact of the COVID-19 virus and 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.

RISHON LE ZION, Israel, May 9, 2022 (GLOBE NEWSWIRE) — BOS Better Online Solutions Ltd. (“BOS” or the “Company”) (NASDAQ: BOSC) announced today that it has purchased 546 sqm of offices, 495 sqm of warehouses and nine parking spots in Rishon Le Zion, Israel. The purchased real-estate is part of the facilities BOS has been leasing in Rishon Lezion. BOS shall pay for this acquisition NIS 6.5 million (approximately $1.9 million).

Eyal Cohen, BOS’ CEO, stated: “BOS leases 2,131 sqm in Rishon Lezion and 710 sqm in Rosh Hain, both in Israel. Our monthly lease expense for the facilities we acquired amounts to $10,000. This lease expense, and our expectation that it shall increase significantly upon lease renewal, led us to pursue the acquisition. 

We plan to finance the purchase by a long-term bank loan in the amount NIS 4.5 million (approximately $1.3 million) in addition to cash we have at hand.” 

About BOS

BOS provides services and systems for inventory production and management in three channels:

• Services – The Supply Chain division provides inventory procurement and kitting.
• Integration – the RFID division provides off-the-shelf software and equipment to track and manage inventory in the production floor and warehouse.
• Development – the Intelligent Robotics division develops and builds custom-made robotic cells for the industrial and logistic processes.

Contact: Eyal Cohen, CEO
+972-542525925 | eyalc@boscom.com

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, failure to successfully integrate and achieve the potential benefits of the acquisition of the business operations of Imdecol Ltd. (the Robotics business line) and Dagesh Inventory Counting and Maintenance Ltd., 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, military and political upheavals,  the impact of the COVID-19 virus and continued availability of financing for working capital purposes and to refinance outstanding indebtedness. Additional risks and uncertainties are 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.