Category: Newsroom

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.

RISHON LEZION, Israel, May 2, 2022 (GLOBE NEWSWIRE) — BOS Better Online Solutions Ltd. (“BOS” or the “Company”) (NASDAQ: BOSC), announced today that it entered into a definitive agreement with several investors for the purchase and sale of 450,000 Ordinary Shares and 225,000 Warrants at a combined purchase price of $990,000 in a registered direct offering. The Warrants will have an exercise price of $2.20 per share, will be immediately exercisable and will expire in five years. The closing of the offering is expected to occur on or about May 3, 2022, subject to the satisfaction of customary closing conditions.

Ages Financial Services, Ltd. is acting as sole financial advisor for the offering.

This offering is being made pursuant to an effective shelf registration statement on Form F-3 (File No. 333-249597) previously filed with the U.S. Securities and Exchange Commission (the “SEC”). A prospectus supplement describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Electronic copies of the prospectus supplement may be obtained, when available, from BOS, 20 Freiman Street, Rishon LeZion, 75100, Israel or by telephone at (+972) 3-954-2000, or by email at eyalc@boscom.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About B.O.S. Better Online Solutions Ltd.

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.

For more information, please visit our new website: www.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 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.

RISHON LE ZION, Israel, April 26, 2022 (GLOBE NEWSWIRE) — BOS Better Online Solutions Ltd. (“BOS” or the “Company”) (NASDAQ: BOSC) announced today that orders received during the first quarter of 2022 reached a record amount of $13.8 million. This  reflects an increase of 60% over the dollar amount of orders in the comparable period of last year. Most of the orders are for delivery in the year 2022.  

Eyal Cohen, BOS’ CEO, stated: “This growth in orders is organic and does not include orders attributed to the acquisition of the assets of Dagesh, which we completed on March 1, 2022. 

The growth is a result of:

1. a) An increased demand for the Supply Chain division’s products and services from customers in the defense and aviation industries; 
2. b) Expansion  in the number of logistic centers opened in Israel, which increased the demand for the RFID division’s products and services”. 

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

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.

RISHON LEZION, Israel, April 25, 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 first quarter of 2022 before the market opens on Tuesday, May 31, 2022.

BOS will host a conference call on May 31, 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.
• 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

RISHON LE ZION, Israel, April 12, 2022 (GLOBE NEWSWIRE) — BOS Better Online Solutions Ltd. (“BOS” or the “Company”) (NASDAQ: BOSC) announced today that its Supply Chain  Division has received an order in the amount of $625,000 for delivery this year.

Avidan Zelicovski, BOS’ President, stated: “This an order from an existing US customer.  It demonstrates the clear added value of our supply chain services to manufacturers worldwide. I am encouraged by the growing demand for our supply chain services and I believe that this trend will continue this year.”

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.

BOS Reports Financial Results for the Fourth Quarter and the Year 2021

RISHON LE ZION, Israel, March 30, 2022 – BOS Better Online Solutions Ltd. (“BOS” or the “Company”) (NASDAQ: BOSC) reported financial results for the fourth quarter and the year 2021.

Eyal Cohen, BOS’s CEO, stated: “We have made positive progress in the year 2021, although revenues were roughly the same as in the year 2020:

• Gross profit margin improved to 19.6% in the year 2021 from 18.2% in the year 2020;
• Operating expenses decreased to $6.1 million in the year 2021 from $6.8 million in the year 2020;
• Financial expenses decreased to $105,000 in the year 2021 from $348,000 in the year 2020.

As a result, net income for the year 2021 amounted to $451,000 as compared to a $960,000 net loss in the year 2020”.

Eyal Cohen added: “On March 10, 2022, we announced that BOS’ RFID division acquired the assets of Dagesh, which provides inventory counting services in Israel. In addition,  on March 28, 2022, we announced that BOS’ Supply Chain division received a $2.4 million order from an existing customer, for delivery this year. This advances us towards our financial targets for the year 2022, which are revenues over $35 million (compared to $33.6 million in the year 2021) and net income to exceed $1 million (compared to a net income of $451,000 in the year 2021.”)

BOS will host a conference call on Wednesday, March 30, 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: https://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.

Q4 2021 financial results