Q1 2025 BOS Better Online Solutions Ltd Earnings Call
In our risk factors, which are detailed from time to time in the company's filings with the various securities authorities I would now like to turn the call over to Mr. Eyal Cohen CEO. Mr. Cohen. Please go ahead.
Okay.
[music].
Eyal Cohen: Good morning, everyone and welcome to Bos first quarter 'twenty to 'twenty five earnings.
Speaker Change: I am joined today by our CFO.
Speaker Change: So.
Okay.
Speaker Change: We delivered exceptional results this quarter with record revenues and record net income and that underscore the strength of our defense focused strategy.
Okay.
Okay.
Okay.
Okay.
Thanks.
Okay.
Speaker Change: Okay.
Speaker Change: The results reflect it.
Okay.
Speaker Change: Years of deliberate investment in product diversification and operational excellence position us.
Okay.
Okay.
Thanks.
[music].
Michael.
To capitalize on the defense sector will boost growth trajectory.
Okay.
[music].
Speaker Change: With our strong Q1 performance and the healthy $22 million of backlog.
Yes.
Okay.
[music].
Speaker Change: We are raising.
Speaker Change: Our confidence in exceeding our full year 2025 targets of $44 million in revenues.
Speaker Change: $2 5 million.
And net income.
Okay.
Speaker Change: Our outlook remains grounded in the organic opportunities we see today.
Okay.
Okay.
Speaker Change: And maintaining our conservative approach.
Ladies and gentlemen, thank you for standing by.
Speaker Change: Our gross strategy rests on two foundational pillars.
Come to the B O S Conference call.
All participants are at present in listen only mode.
Speaker Change: First deepen client relationships.
As a reminder, this conference call is being recorded and will be available on the B O S website as of Tomorrow.
Speaker Change: We are expanding our value proposition to our defense customer through complementary offering.
Speaker Change: Before I turn the call over to Mr. Cohen, I would like to remind everyone that forward looking statements with respect to company's business financial condition and results of its operations are subject to risks and uncertainties, which could cause actual results to differ materially from those contemplated such forward looking statements include but are not limited.
Exemplified by our successful launch of our new cabling line that leverages existing client relationships.
Speaker Change: Second.
Speaker Change: International expansion.
Speaker Change: We are strategically expanding overseas by partnering with our Israeli defense convincing local subcontractors.
To product demand pricing market acceptance changing economic conditions risks and product and technology development and the effect of the company's accounts meeting is being recorded mental as certain other risk factors, which are detailed from time to time in the companys filings with the various securities authorities I would now like to turn the call.
Speaker Change: This approach and.
Speaker Change: We generated $4 million in oversea says in near 2024 to our supply chain Division.
Speaker Change: Our robotic division will install its first year premium production line this year.
Speaker Change: Marking a significant milestone in our international growth.
Eyal Cohen: To Mr. Eyal Cohen CEO Mr. Cohen. Please go ahead.
Speaker Change: Okay.
Speaker Change: Both present, a compelling investment opportunity built on four key strengths.
Eyal Cohen: Good morning, everyone and welcome to Bos first quarter 'twenty to 'twenty five earnings call.
Speaker Change: First we hold a strong and expanding position in the global defense industry during a period of accelerating market growth.
Speaker Change: I'm joined today by our CFO, Mr Wojciech venture.
Speaker Change: We delivered exceptional results this quarter with record revenues and record net income and that underscore the strength of our defense focused strategy.
Speaker Change: The defense sector fundamentals continue to strengthen globally.
Speaker Change: Israel Defense budget increased 73% year over year, while Europe's was 6%.
Speaker Change: Okay.
Speaker Change: The results reflect a years ofer deliberate investment in product diversification and operational excellence.
Speaker Change: This creates a sustained demand environment that directly benefits on our business.
Speaker Change: Vision loss or to capitalize on the defense sector will boost growth trajectory.
Second.
Speaker Change: We have demonstrated consistent profitability with steady net income growth year after year.
Speaker Change: With our strong Q1 performance and the healthy $22 million of backlog.
Speaker Change: With a compounded annual growth of 49% through the years between the years 'twenty, one and 'twenty five.
Speaker Change: We are raising.
Speaker Change: Our confidence in exceeding our full year 2025 target of $44 million in revenues.
Speaker Change: Third.
Speaker Change: $2 $5 million.
Speaker Change: Our balance sheet provides flexibility for strategic growth with 23 million in equity zero bank debt and $4 million in cash.
Speaker Change: And net income.
Speaker Change: Okay.
Speaker Change: Our outlook remains grounded in the organic opportunities we see today.
Speaker Change: And maintaining our conservative approach.
Speaker Change: We have the financial foundation to execute our expansion plans, while maintaining our personal stability.
Speaker Change: Our growth strategy raised on two foundational pillars.
Speaker Change: Fourth.
Speaker Change: First deepen client relationships.
Speaker Change: Mostly straight adjusted the table turn time on their own.
Speaker Change: We're expanding our value proposition to our defense customer true confirmatory offering.
Speaker Change: Net income on price to book value ratio of Florida.
Speaker Change: <unk> exemplified by our successful launch of our new cabling line that leverages existing client relationships.
Speaker Change: Our valuation offer attractive upside compared to broader market multiples.
Speaker Change: Thank you for return orientation and attention and Michelle I know happy to take your questions.
Speaker Change: Second.
Speaker Change: International expansion.
Speaker Change: We are strategically expanding overseas by partnering with our Israeli defense convincing global subcontract costs.
Speaker Change: Yeah.
Speaker Change: Disappoint.
Speaker Change: We generated $4 million in oversea says in year 2020 full through our supply chain Division.
Speaker Change: Yeah.
Speaker Change: Hey, guys congratulations on a great quarter.
Speaker Change: Our robotic division will install its first year premium production night this year, marking a significant milestone in our international growth.
Speaker Change: It was nice to see the margin improvement can you talk about margins moving forward as the company continues to grow and expand.
Speaker Change: Okay.
Speaker Change: Yeah first day.
Speaker Change: Both present, a compelling investment opportunity built on four key strengths.
Speaker Change: <unk>.
Speaker Change: The gross margin presented D. A average a margin that Rihanna and duct.
Speaker Change: First <unk>.
Speaker Change: We have a strong and expanding position in the global defense industry viewing a period of accelerating market growth.
Speaker Change: And that we have and we had a we don't see any we don't see any change in the future.
Speaker Change: The defense sector fundamentals continued to strengthen globally.
Speaker Change: And this is a market duct reorganize.
Speaker Change: But we.
Speaker Change: Israel Defense budget increased 73% year over year, while Europe's rose 6%.
Speaker Change: We are expanding our offering to our client in the us.
Speaker Change: This creates a sustained demand environment led directly benefits on our business.
Speaker Change: Our offering is a wider.
Speaker Change: And the price was after we can take a year.
Speaker Change: Second.
Speaker Change: The margin as well.
Speaker Change: We have demonstrated consistent profitability, we steady net income growth year after year.
Speaker Change: Thank you and do you see the continued growth coming from the defense sector. I know you are brought on the former procurement officer from the idea of the RV do Don do you think youll see some larger contracts.
Speaker Change: With a compounded annual growth of 49% toward the years between the years 'twenty, one and 'twenty five.
Speaker Change: Third.
Speaker Change: Come from defense and do you see your future growth has been a mix of organic and inorganic as an M&A activity or do you just see organic growth.
Speaker Change: Our balance sheet provides flexibility for strategic goals with Trinketry medium inaccurately zero bank debt and $4 million cash.
Speaker Change: We have the following financial foundation to execute our expansion plans, while maintaining operational stability.
Speaker Change: I.
Speaker Change: By linking the current market.
Speaker Change: The defense market specially.
Speaker Change: Our hands are full of work with organic growth.
Speaker Change: Fourth.
Speaker Change: Mostly straight adjusted the obtained 10 times on May one and net income on price to book value ratio, Florida.
Speaker Change: The opportunities in these ready market.
Speaker Change: And overseas as well as specialty in India.
Speaker Change: And we have to a to put all our focus and effort to.
Speaker Change: Our valuation offer attractive upside compared to broader market multiples.
Speaker Change: Two to capitalize those opportunities.
Unknown Executive: as well as certain other risk factors, which are detailed from time to time in the company's filings with the various securities authorities.
Speaker Change: Thank you for your time, and Mentation and attention and machine and I know happy to take your questions.
Speaker Change: In parallel we are checking opportunities for acquisition of companies that of company that have it.
Unknown Executive: I would now like to turn the call over to Mr. Eyal Cohen, CEO. Mr. Cohen, please go ahead.
Speaker Change: Sure.
Speaker Change: Synergy to our business, whether it's for the civil market with RFID Division.
Eyal Cohen: Good morning, everyone, and welcome to BOSS first quarter 2025 earnings. I am joined today by our CFO, Mr. Moshe Zeltzer.
Speaker Change: There is for the defense market with a supply chain division.
Speaker Change: Hey, guys congratulations on a great quarter.
Speaker Change: Okay. Thank you I'll hop back in the queue, congratulations on an outstanding quarter again.
Eyal Cohen: We delivered exceptional results this quarter, with record revenues and record net income that underscore the strength of our defense-focused strategy. The results reflect years of deliberate investment in product diversification and operational excellence, positioning us to capitalize on the defense sector robust growth project. With our strong Q1 performance and a healthy $22 million backlog.
Speaker Change: It was nice to see the margin improvement can you talk about margins moving forward as the company continues to grow and expand.
Speaker Change: Thank you Dave.
Speaker Change: Hey, Al can you hear me yes.
Speaker Change: Yeah and first AA.
Speaker Change: Congrats on the great quarter.
Speaker Change: Could you address the backlog claims.
Speaker Change: Okay.
Speaker Change: The gross margin may present to you the average a margin that Rihanna and duct.
Speaker Change: And the backlog.
Speaker Change: Backlog dropped to $22 million, yes.
Speaker Change: That we have and we had a we don't see any we don't see any change in the future.
Speaker Change: Yes, we the backlog was in the record number in May in December last year. It was on the in the amount of $27 million.
Speaker Change: This is a market that we are in.
Bhakti: Hey, Bhakti.
Speaker Change: And.
Eyal Cohen: We are raising our confidence in exceeding our full year 2025 targets of $44 million in revenues, and $2.5 million in net income. Our outlook remains grounded in the organic opportunities we see today. and maintaining our conservative approach.
Speaker Change: This is all as part of the confidence that we had to.
Speaker Change: We are spending our offering to our client 10 day.
Speaker Change: To provide a positive outlook for your 25 with a 10%.
Speaker Change: As our offering is a wider.
Speaker Change: And the prices after we can pay it all here.
Speaker Change: Growth.
Speaker Change: And we are in a very very hot to a market.
Speaker Change: And the margin as well.
Speaker Change: And the <unk>.
Speaker Change: Thank you and do you see the continued growth coming from.
Speaker Change: The demands or a hot.
Speaker Change: The defense sector. I know you are brought on the former procurement officer from the Idf's via IV do Don do you think you'll see some larger contracts come from defense and do you see your future growth has been.
Speaker Change: And and sometimes there are peaks and.
Eyal Cohen: Our growth strategy rests on two foundational pillars. First, deep-inclined relationships. We are expanding our value proposition to our defense customer through complimentary offering. exemplified by our successful launch of a new cabling line that leverages existing client relationships.
Speaker Change: Like we had in this quarter.
Speaker Change: Okay. Thank you also last question.
Speaker Change: Can you can you share with us if there was any specific defense program.
Speaker Change: A mix of organic and inorganic as an M&A activity or do you just see organic growth.
Speaker Change: The defense side of our business.
Speaker Change: So it was it broad based.
Speaker Change: Sorry can you repeat the question I'm not sure I understood what is it.
Speaker Change: Okay.
Speaker Change: I think in the current market.
Speaker Change: There are specific defense program that drove that side of our business in this quarter or was it broader based.
Eyal Cohen: Second International Expansion. We are strategically expanding overseas by partnering with our Israeli Defense Clients Global Subcontractor. This appointment generated four million dollars in overseas sales in year 2024 to our supply chain division. Our robotic division will install its first European production line this year, marking a significant milestone in our international growth.
Speaker Change: The defense market specially.
Speaker Change: Our hands are full of work with organic goals.
Speaker Change: The opportunities in these reading market.
Speaker Change: And yes it is.
Speaker Change: And overseas as well, especially in India.
Speaker Change: Component to a two one of the leading.
Speaker Change: And we have to a to put all our focus and effort to to capitalize those opportunities.
Speaker Change: Munition of of Israel. There. So we are our company, it's all embedded inside.
Speaker Change: In parallel we are checking opportunities for acquisition of companies that of companies that have it.
Speaker Change: Okay. Thank you very much the router.
Speaker Change: Synergy to our business, whether it's for the civil market three dollar tree Division.
Eyal Cohen: Both present a compelling investment opportunity built on four key strengths. First, we hold a strong and expanding position in the global defense industry during a period of accelerating market growth. The Defense Sector Fundamentals Continue to Strengthen Globally. Israel's defense budget increased 73% year-over-year, while Europe's rose 6%. This creates a sustained demand environment that directly benefits on our business. Second We have demonstrated consistent profitability with steady net income growth year after year, with a compounded annual growth of 49% through the years, between the years 21 and 25. Third Our balance sheet provides flexibility for strategic growth with $23 million in equity, zero bank debt, and $4 million in cash.
Speaker Change: Any further question.
Speaker Change: I have another question are you all are you guys going to be in the United States anytime soon to do investor relations conferences or anything like that.
Speaker Change: Whether it's for the defense market with a supply chain diminished.
Speaker Change: Okay. Thank you I'll hop back in the queue, congratulations on an outstanding quarter again.
Speaker Change: Hey, Yeah at first and we plan to participate in a virtual conferences in the coming months as the match D. Our IR firm.
Speaker Change: Thank you Todd.
Speaker Change: Hey, Al can you hear me yes.
Speaker Change: Congrats on the great quarter.
Speaker Change: Personally.
Speaker Change: Could you address the backlog please.
Speaker Change: A arrange it.
Speaker Change: And then of course.
Speaker Change: In the background.
Speaker Change: Backlog dropped to $22 million, yes.
Speaker Change: We plan to visit here in the U S. This year.
Speaker Change: Yes, we invade the backlog was in the record number in May in December last year. It was on the in the amount of say $27 million.
Speaker Change: Okay.
Moshe Zeltzer: And your $4 million in cash out any plans for that.
Speaker Change: Yes, if first of all.
Speaker Change: And.
Speaker Change: The transaction in the defense market Avi Relatedly big.
Speaker Change: This is a normal part of the confidence that we had to.
Speaker Change: To provide a positive outlook for your 25 with a 10%.
Speaker Change: And we named a walking capital 222 to execute it.
Speaker Change: Growth.
Speaker Change: A reopening of very very hot to a market.
Speaker Change: And we use this cash to do it.
Speaker Change: And the <unk>.
Speaker Change: And the and we also are really use it for future M&A.
Speaker Change: The demand Zoe are hot.
Eyal Cohen: We have the financial foundation to execute our expansion plans while maintaining operational stability.
Speaker Change: And Jay and sometimes there are peaks.
Speaker Change: Okay.
Speaker Change: Right, we had the in vehicle.
Speaker Change: Okay. Thank you also last question.
Eyal Cohen: Fourth. BOS is traded just 10 times on net income and price to book value ratio of 1. Our evaluations offer an attractive upside compared to broader market volatility.
Speaker Change: Scott.
Speaker Change: Yep. Thank you Youre welcome.
Speaker Change: Can you can you share with us if there was any specific defense program at <unk>.
Speaker Change: Right.
Speaker Change: Yes, Yoki how are you.
Speaker Change: The defense side of the business.
Speaker Change: Alright.
Speaker Change: So is it broad based.
Speaker Change: Yeah.
Speaker Change: And just last one on the medlar Rebecca for.
Speaker Change: Sorry can you repeat the question I'm not sure I understood was there a specific defense programs that drove that side of the business in this quarter or was it broader based.
Eyal Cohen: Thank you for your time and attention.
Speaker Change: Nine months six months landmark la followed them in the background.
Eyal Cohen: Moshe and I are happy to take your questions.
Speaker Change: On the side of that too.
Speaker Change: Okay.
Speaker Change: Obviously.
Speaker Change: Yes, say a linkage.
Speaker Change: Well frankly quarter a record growth rate.
Speaker Change: Complement to a two one of the leading.
Speaker Change: Through February.
Speaker Change: In the U.
Speaker Change: Munition Ofay of Israel. There. So we are our company saw embedded inside.
Speaker Change: I'm not going to be.
Speaker Change: Refresh my memory there already.
Todd Felte: Hey guys, congratulations on a great quarter. It was nice to see the margin improvement.
Speaker Change: Because it seems like.
Speaker Change: Uh huh.
Speaker Change: So they are easily concert athene.
Speaker Change: Okay. Thank you very much director.
Moshe Zeltzer: Can you talk about margins moving forward as the company continues to grow and expand? Yeah, first, the The gross margin represent the average margin that we have, that we have and we had. We don't see any, we don't see any change in the future.
Speaker Change: I'm very much I have some comments about the care com.
Speaker Change: My first of all the backlog.
Speaker Change: Yeah, the backlog is the.
Speaker Change: Any father crushing.
Speaker Change: Is the backlog is for.
Speaker Change: I have another question are you all are you guys going to be in the United States anytime soon to do investor relations conferences or anything like that.
Speaker Change: Yeah, it will be spread along a year 25.
Speaker Change: A N a first do we plan to to participate in our virtual conferences in the coming months as the match the our IR firm <unk>.
Speaker Change: And the $22 million covers like 50% of our annual revenues so each relatedly hi.
Moshe Zeltzer: a this is a market that we are in a but we spending our offering to our client and as our offering is wider The prices that we can take are higher. Thank you.
Speaker Change: And the.
Speaker Change: Person name.
Speaker Change: I remember our core lost last year when the.
Speaker Change: <unk>.
Speaker Change: The a arrange it.
Speaker Change: And then of course.
Speaker Change: When some of the deals.
Speaker Change: We plan to visa came in the U S. This year.
Speaker Change: Moving to year 'twenty five.
Speaker Change: If you remember.
Speaker Change: Okay.
Speaker Change: And there so you see the effect in this quarter.
Speaker Change: And your $4 million in cash out any plans for that.
Speaker Change: So it's a supply chain business.
Unknown Executive: And do you see the continued growth coming from the defense sector? I know you brought on the former procurement officer from the IDF, the Ivy Doudon. Do you think you'll see some larger contracts come from defense?
Speaker Change: Yes.
Speaker Change: A yes, a first for any longer transaction in the defense market Avi related liebig.
Speaker Change: And the timing of their purchase of the of the order.
Speaker Change: <unk> on the time of the delivery on the billing and the revenue recognition.
Speaker Change: And we named a walking capital 222 to execute it.
Speaker Change: But we feel confidence with this level of backlog.
Moshe Zeltzer: And do you see your future growth as being a mix of organic and inorganic as in M&A activity? Or do you just see organic growth? I think in the current market, in the difference market especially, Our hands are full of work with organic gold. There are opportunities in the Israeli market. and overseas as well, especially in India. And we have to put all our focus and effort to capitalize those opportunities.
Speaker Change: And that we really.
Speaker Change: And we use vis vis vis cash today to do it.
Speaker Change: It exceeds our and our outlook for you 25 of our 44 million dollar revenues and $2 5 million gold loan net income, but already reflects a 10% to a dropped.
Speaker Change: And the and we also.
Speaker Change: We'll use it for future M&A.
Speaker Change: Okay.
Speaker Change: Okay, Let's just say that the strategy for credit.
Speaker Change: Now cellular percent correct 91 after wroclaw.
Speaker Change: Scott.
Speaker Change: Yep. Thank you Youre welcome.
Speaker Change: Yeah, I think that to in the second quarter that will be released on the on all groups. We will have much more information to give you the more operating a outage.
Speaker Change: My absolute hearing.
Speaker Change: Yes, Yoki how are you.
Speaker Change: My final <unk>.
Speaker Change: And just last upon the vessel the Vega we saw.
Speaker Change: Okay.
Speaker Change: No.
Moshe Zeltzer: In parallel, we are checking opportunities for acquisition of companies that have a synergy to our business, whether it's for the civil market with RFID division, whether it's for the defense market with a supply chain.
Speaker Change: Yeah.
Speaker Change: Not in last six months landmines Plaza five homes in backlog.
Speaker Change: Yeah.
Speaker Change: Any commentary around the second quarter earnings per share.
Speaker Change: And besides that.
Speaker Change: Yes, it's off after that.
Speaker Change: Obviously, the second quarter.
Speaker Change: They usually are usually we give them and the outlook for a year not for a quarter. So.
Speaker Change: Electrical and say oops.
Speaker Change: Three after February.
Speaker Change: Okay Yeah.
Speaker Change: <unk> aims to Earth, you'll have kind of indicated complete refresh I learned early because it seems like Oh.
Speaker Change: But you can try you try it every quarter. So trying again mixed wanted to ask.
Unknown Executive: Okay, thank you.
Unknown Executive: I'll hop back in the queue. Congratulations on an outstanding quarter again. Oh, thank you, Todd.
Speaker Change: [laughter].
Speaker Change: So 6% for the year is really cost of Athene.
Speaker Change: Okay, great for that I hope with Athene.
Speaker Change: They want today, some comments about divestiture com.
Speaker Change: Cynthia.
Unknown Executive: Eyal can you hear me? Yes.
Speaker Change: And Randy correct.
Speaker Change: No first of all the backlog.
Speaker Change: It is a magnificent go out there so.
Unknown Executive: Congrats on the great quarter.
Speaker Change: Yeah, the backlog is the.
Eyal Cohen: Could you address the backlog, please? in the background. The backlog dropped to 22 million. Yes. Yeah, we the backlog was in the record number in the in December last year, it was on the amount of $27 million And this was part of the confidence that we had to provide a positive outlook for year 25 with a 10% growth. We are in a very, very hot market and the demands are hot. And sometimes there are peaks, like we had in this.
Speaker Change: The accelerating demand.
Speaker Change: Is the backlog as of the fall in.
Speaker Change: We will try yeah, the pigs, it's very hot market.
Speaker Change: It will be spread along a year 25.
Speaker Change: And we are trying to do there to to do the best to capitalize on those opportunities that we have on the table with our.
Speaker Change: And the $22 million covers like 50% of our annual revenues so each relatedly hi.
Speaker Change: A different client that we have great relationships.
Speaker Change: And the.
Speaker Change: Really it's about trying to do the best.
Speaker Change: I remember our core lost last year when the.
Speaker Change: Okay.
Speaker Change: Thank you very much yeah 10-Q, thank you Dan here.
Speaker Change: When some of the deals.
Speaker Change: Moving to year 'twenty five.
Speaker Change: If you remember.
Speaker Change: Okay.
Speaker Change: In there so you see the effect in this quarter.
Speaker Change: Any further question.
Speaker Change: So it's a supply chain business.
Speaker Change: Yes.
Speaker Change: Okay.
Speaker Change: And the timing of their purchase of the of the order the effect on the time of the delivery on the billing and the revenue recognition.
Speaker Change: So to.
Speaker Change: To conclude the boss is strategically positioned for continued success.
Unknown Executive: Okay, thank you.
Speaker Change: Our focused approach a stronger to the Houston and solid financial Foundation.
Speaker Change: But we feel confidence with this level of fare backlog.
Unknown Executive: Also, last question.
Unknown Executive: Can you share with us if there was any specific defense program that drove the defense side of the business? What was it? Broad Base.
Speaker Change: That we really.
Speaker Change: Create a platform for delivering sustained shareholder value in the years ahead.
Speaker Change: They exceed our eight hour a outlook for you 25 of a $44 million of revenues on to print 5 million below net income that's already reflects a 10 percentage dropped.
Speaker Change: Thank you for joining us today.
Unknown Executive: Sorry, can you repeat the question? I'm not sure I understand. Was there a specific defense program that drove that side of the business in this quarter? Or was it broader base?
Speaker Change: Please don't hesitate to reach out if you need additional information or would like to schedule a follow up discussion.
Speaker Change: Okay, Let's just say that it's too early to predict.
Speaker Change: Have a great day, thank you bye bye.
Speaker Change: Now cellular for separate 91 after wroclaw.
Eyal Cohen: a yes a component to a to one of the leading munition of of Israel so we are our components are embedded inside Okay, thank you very much.
Speaker Change: Yeah, I think that to in the second quarter that will be released on the on almost we will have much more information to give you the more operating a outage.
Speaker Change: Okay.
Speaker Change: Yeah.
Speaker Change: Okay.
Speaker Change: You can certainly comment around second quarter or is that a fair.
Speaker Change: Yes, I'll stop after that he has that usually a usually we give them and the outlook for a year not for a quarter. So.
Unknown Executive: Any further questions? I have another question.
Moshe Zeltzer: Are you guys going to be in the United States anytime soon to do investor relations conferences, anything like that? Yeah, first, we plan to participate in a virtual conference in the coming months. Matt, our IR firm person, arranged it. And of course, We plan a visit in the U.S. this year. Okay.
Speaker Change: Okay.
Speaker Change: But you can try you try to every quarter. So try again mixed wanted to ask a kid.
Speaker Change: Yeah.
Speaker Change: Okay, Great Reserve I hope with that hearing Athena.
Speaker Change: And we're equally.
Speaker Change: It is magnificent go out there so.
Speaker Change: You'll ask delivery demand.
Speaker Change: We will try yeah, though about peaks, it's very hot market.
Speaker Change: And we are trying to do related to do the best to capitalize on those opportunities that we have on the table with our.
Moshe Zeltzer: And you're $4 million in cash. Any plans for that? Yes, first of all, you know, the transaction in the defense market are relatively big. and we need a working capital to execute it. and we use this cache to do it and we also will use it for a future M&A. Scott. Yep, thank you. You're welcome. My regards to the hearing.
Speaker Change: A different client that we have great relationship term.
Speaker Change: We are trying to do the best.
Speaker Change: Okay.
Speaker Change: Thank you very much yeah, 10-Q, <unk> homecare.
Speaker Change: Okay.
Speaker Change: Any further question.
Speaker Change: Okay.
Speaker Change: So to.
Speaker Change: To conclude a boss is strategically positioned for continued success.
Speaker Change: Our focused approach a stronger execution and solid financial foundation.
Speaker Change: Create a platform for delivering sustained shareholder value in the years ahead.
Unknown Executive: Yes, Yuki, how are you? Hi, how are you? I would like to know the backlog.
Speaker Change: Thank you for joining us today.
Speaker Change: Please don't hesitate to reach out if you need additional information I would like to schedule a follow up discussion.
Unknown Executive: The backlog is for a nine month, six month, five month follow me in the back row.
Speaker Change: Have a great day, thank you bye bye.
Eyal Cohen: And besides that, how do you see the second quarter, what you can say, which we are two-thirds of it finished, so you have kind of visibility to say some words about it, because it seems like your prospect for the year is a bit conservative, and I want to hear some comments about that if you can. But first about the backlog. Yeah, the backlog is the backlog is for it will be spread along the year 25. And the $22 million covers like 50% of our annual revenues, so it's relatively high. I remember our call last, last year when when some of the deals moved to year 25.
Eyal Cohen: if you remember, and so you see the effect in this quarter. So it's a supply chain business, and the timing of the purchase of the order effect on the time of the delivery, and the billing, and the revenue recognition. But we feel confidence with this level of backlog that we will exceed our outlook for year 25 of $44 million revenues and $2.5 million net income that already reflects a 10% growth.
Eyal Cohen: But you said that it's too early to predict now, so you prefer to wait maybe one or two more quarters. Yeah, yeah.
Eyal Cohen: I think that in the second quarter that will be released on August, we will have much more information to give a more accurate outcome. Okay.
Eyal Cohen: You can say in comments about the second quarter, or you prefer just to talk after the results?
Eyal Cohen: Usually, we give an outlook for a year, not for a quarter. Okay. Yeah. But you can try. You try it every quarter. So try again next quarter to ask. Okay, great for that.
Eyal Cohen: I hope you will continue in the same way because it is a magnificent quarter. So you have to repeat on. We will try. Yeah, there are there are peaks. It's very hot market And we are trying to do the best to capitalize all those opportunities that we have on the table with our different clients that we have great relationship. We are trying to do the best we can.
Eyal Cohen: Okay, and thank you very much. Yeah. Thank you.
Unknown Executive: Any further questions? OK.
Eyal Cohen: So to conclude, BOS is strategically positioned for continued success. Our focused approach is strong execution and solid financial foundation. and create a platform for delivering sustained shareholder value in the years ahead.
Eyal Cohen: Thank you for joining us today. Please do not hesitate to reach out if you need additional information or would like to schedule a follow-up discussion. a have a great day. Thank you.
Unknown Executive: Bye bye.