BOS Better Online Solutions Reports 2024 Financial Results

B.o.s. Better Online Solutions ( (BOSC) ) has released its Q4 earnings. Here is a breakdown of the information B.o.s. Better Online Solutions presented to its investors.

BOS Better Online Solutions Ltd., a company specializing in supply chain operations through its Intelligent Robotics, RFID, and Supply Chain divisions, has reported its financial results for the fourth quarter and full year of 2024. The company is known for integrating advanced technologies to enhance efficiency in inventory and logistics processes.

In 2024, BOS experienced a 9.7% decline in revenues to $39.9 million, attributed to the absence of one-time post-COVID restocking activities that benefited the previous year. Despite this, the company improved its gross profit margin to 23.3% from 20.8% in 2023, reflecting enhanced operational efficiency. The net income increased by 14.7% to $2.3 million, supported by a decrease in financial expenses and non-cash income from taxes.

Key financial metrics for the fourth quarter of 2024 included a 4.6% decline in revenues to $10.4 million and an increase in the gross profit margin to 22.9%. The quarter saw an operating loss of $616,000 due to a $1.2 million non-cash impairment of goodwill and other intangible assets. However, EBITDA rose to $715,000, and net income increased to $485,000, indicating a positive trend in profitability.

Looking ahead, BOS is optimistic about 2025, forecasting a 10% growth in both sales and net income. The company is focused on expanding its presence in the defense sector, leveraging strong customer relationships and exploring new overseas markets. The recent board appointments are expected to bolster BOS’s strategic direction and growth potential.