BOS (Nasdaq: BOSC) Q1 2026 results, backlog up 29% and guidance raised

Rhea-AI Filing Summary

BOS Better Online Solutions reported first quarter 2026 revenue of $11.4 million, below the $15.0 million reported a year earlier, which had included a one-time $2.5 million deal. Versus the 2025 average quarterly revenue of $12.6 million, activity was closer to normal levels.

Gross profit was $2.8 million with a margin of 24.9%, slightly above 23.9% in Q1 2025. Net income was $765,000, or $0.11 per basic share, compared with $1.35 million, or $0.23, a year earlier as operating expenses rose, partly due to a 13.6% depreciation of the U.S. dollar against the Israeli shekel.

Cash and cash equivalents, net of loans, were $9.5 million as of March 31, 2026. Contracted backlog grew 29% from $24 million to $31 million, and the company now expects full-year 2026 revenue to exceed its prior $51 million target while maintaining a net income goal of $3.6 million. BOS highlighted growth initiatives including a new Indian distribution agreement that helped generate $3.3 million of Q1 orders from India, acquisition of the remaining 50% profit rights in a wire-products joint venture for about $641,000, and plans to expand its RFID division into Israel’s defense sector.

Positive

• Raised 2026 revenue outlook and stronger backlog: Backlog increased 29% from $24 million to $31 million, and management now expects full-year 2026 revenue to exceed its prior $51 million target while maintaining a $3.6 million net income goal.

Negative

• Year-over-year earnings decline and FX pressure: Q1 2026 net income fell to $765,000 from $1.35 million in Q1 2025, with higher operating expenses partly driven by a 13.6% depreciation of the U.S. dollar against the Israeli shekel.

Insights

Equity research analyst

BOS posts softer Q1 earnings but stronger backlog and raises its 2026 revenue outlook.

BOS Better Online Solutions generated Q1 2026 revenue of $11.4M and EBITDA of $0.9M. Net income was $0.77M, or $0.11 per basic share, down from $1.35M a year earlier as operating expenses increased.

Profitability was pressured by a 13.6% depreciation of the U.S. dollar versus the Israeli shekel, which lifted shekel-denominated costs. Despite this, gross margin improved slightly to 24.9%, helped by mix and execution. Cash and cash equivalents, net of loans, stood at $9.5M at March 31, 2026, supporting ongoing initiatives.

Operationally, contracted backlog climbed 29% to $31M, and management now anticipates full-year 2026 revenue above the prior $51M target while keeping its $3.6M net income goal. New Indian distribution agreements, stronger India orders of $3.3M, acquisition of remaining joint-venture profit rights for about $0.64M, and RFID expansion toward the Israeli defense sector frame the growth agenda for the rest of 2026.

Key Figures

Q1 2026 revenue: $11.4M Q1 2026 gross margin: 24.9% Q1 2026 net income: $765,000 +5 more

8 metrics

Q1 2026 revenue $11.4M Quarter ended March 31, 2026

Q1 2026 gross margin 24.9% Gross profit $2.8M on $11.4M revenue

Q1 2026 net income $765,000 Basic EPS $0.11 vs $0.23 in Q1 2025

Contracted backlog $31M Up from $24M at December 31, 2025

2026 revenue target >$51M Company anticipates exceeding prior $51M annual target

2026 net income target $3.6M Maintained full-year 2026 net income goal

Cash net of loans $9.5M Cash and cash equivalents net of loans at March 31, 2026

India Q1 2026 orders $3.3M Orders from Indian customers vs $172,000 in Q1 prior year

Key Terms

EBITDA, contracted backlog, non-GAAP measures, forward-looking statements, +2 more

6 terms

EBITDA financial

"CONDENSED CONSOLIDATED EBITDA (U.S. dollars in thousands)"

EBITDA stands for earnings before interest, taxes, depreciation, and amortization. It measures a company's profitability by focusing on the money it makes from its core operations, ignoring expenses like taxes and accounting adjustments. Investors use EBITDA to compare how well different companies are performing financially, as it provides a clearer picture of operational success without the influence of financial structure or accounting choices.

contracted backlog financial

"Contracted backlog Represents the estimated value of firm customer orders"

Contracted backlog is the total dollar value of customer orders or projects that a company has formally committed to deliver but has not yet completed or recognized as revenue. For investors it is a forward-looking measure of expected future sales and cash flow—like a paid to-do list that shows the pipeline of work—but it can overstate certainty if contracts are cancellable, delayed, or subject to change.

non-GAAP measures financial

"BOS reports financial results in accordance with U.S. GAAP and also provides certain non-GAAP measures."

Financial results that companies present using formulas or adjustments different from standard accounting rules (GAAP) to highlight what management considers the business’s ongoing performance. Investors care because these figures can make trends or profitability look clearer—like showing a car’s fuel efficiency after removing unusual trips—but they can also hide one‑time costs or aggressive assumptions, so comparing them with GAAP numbers helps judge reliability.

forward-looking statements regulatory

"Safe Harbor Regarding Forward-Looking Statements The forward-looking statements contained herein reflect management’s current views"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

operating lease liabilities financial

"Operating lease liabilities, current | 234 | ... Operating lease liabilities, non-current | 730"

Long-term lease payments a company is legally committed to because it rents assets such as offices, factories, or equipment; under modern accounting rules these future rent obligations are recorded on the balance sheet as liabilities. Investors care because operating lease liabilities act like debt that drains future cash, affects measures of leverage and borrowing capacity, and can change profitability and valuation — think of them as a company’s large, ongoing rent payments that limit its financial flexibility.

impairment of Goodwill financial

"Impairment of Goodwill | - | - | 1,200"

An impairment of goodwill happens when the extra value a company recorded for purchases like brands, customer lists or reputation turns out to be worth less than originally thought, so accountants reduce that value on the books. It matters to investors because it signals that past acquisitions are not delivering expected benefits, like discovering a purchased car is less reliable than advertised, and can lower reported earnings and the company's perceived future cash-generating power.

Form 6-K: How Foreign Companies Report to the SEC →

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

Report of Foreign Private Issuer

Pursuant to Rule 13a - 16 or 15d -16

Under the Securities Exchange Act of 1934

For the Month of May 2026

Commission file number 001-14184

B.O.S. Better Online Solutions Ltd.

(Translation of Registrant’s Name into English)

20 Freiman Street, Rishon LeZion, 7535825, Israel 

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F ☒     Form 40-F ☐

B.O.S. Better Online Solutions Ltd.

The GAAP financial statements, included in the Press Release that is attached to this Form 6-K, are hereby incorporated by reference into all effective Registration Statements filed by us under the Securities Act of 1933, as amended, to the extent not superseded by documents or reports subsequently filed or furnished.

The following exhibit is attached:

99.1 Press Release: BOS Reports Financial Results for the First Quarter of 2026.

1

Signature

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.

	B.O.S. Better Online Solutions Ltd.
	(Registrant)
	By:	/s/ Moshe Zeltzer
		Moshe Zeltzer
		Chief Financial Officer

Dated: May 28, 2026

2

EXHIBIT INDEX

EXHIBIT NO.		DESCRIPTION
99.1		Press Release: BOS Reports Financial Results for the First Quarter of 2026.

3

Exhibit 99.1

BOS Reports Financial Results for the First Quarter of 2026

Raises Full-Year 2026 Revenue Guidance

RISHON LE ZION, Israel, May 28, 2026 -- BOS Better Online Solutions Ltd. (“BOS” or the “Company”) (Nasdaq: BOSC), an integrator of supply chain technologies for the aerospace, defense, industrial, and retail sectors, today announced its financial results for the first quarter of 2026.

Quarter Ended March 31, 2026 Financial Results

Revenues for the first quarter of 2026 were $11.4 million. While revenues in the first quarter of 2025 were $15.0 million, that figure was boosted by a single outsized transaction of $2.5 million, making the 2025 full-year average quarterly revenue, of $12.6 million a more representative comparison.

Gross Profit in the first quarter of 2026 was $2.8 million with a gross profit margin of 24.9%, compared to $3.6 million with a gross profit margin of 23.9% in Q1 2025.

Operating Expenses in the first quarter of 2026 totaled $2.17 million, compared to $1.85 million in Q1 2025. The increase is primarily attributable to the 13.6% depreciation of the U.S. dollar against the New Israeli Shekel (NIS) from Q1 2025 to Q1 2026.

Operating Income in the first quarter of 2026 was $665,000 compared to $1.7 million in Q1 2025.

Financial Income in the first quarter of 2026 was $120,000 compared to financial expenses of $272,000 in Q1 2025. Our balance sheet includes significant net assets denominated in Israeli shekels, so changes in the exchange rate between the U.S. dollar and the NIS result in foreign-currency gains or losses when the dollar depreciates or appreciates against the shekel.

Net Income in the first quarter of 2026 amounted to $765,000, or $0.11 per basic share compared to $1.35 million, or $0.23 per basic share in Q1 2025.

Cash and cash equivalents, net of loans, amounted to $9.5 million as of March 31, 2026, compared to $10.1 million as of December 31, 2025.

Business Updates

In March 2026, the Supply Chain division signed a new exclusive sales, marketing, and distribution agreement with Doppler Electronics Private Limited, an Indian corporation, to expand its business activities in the growing Indian market. During the first quarter of the year, we received $3.3 million in orders from Indian customers compared to only $172,000 in the comparable quarter last year.

In March 2026, the Supply Chain division acquired the remaining 50% of the profit rights in a joint venture for the sale of wire products for the defense and aviation industries, for a total consideration of approximately $641,000, resulting in full ownership of the venture. Wire product revenues contributed $500,000 in the first quarter of 2026, and the division is well-positioned for continued growth in this segment.

In May 2026, we announced a strategic initiative to expand our RFID division beyond its current retail focus to Israeli defense sector. Accordingly, we engaged a specialized consulting firm led by IDF veterans with hands-on experience in defense procurement. We view this move as part of a broader strategy to diversify our RFID customer base.

“The first quarter results are in line with our expectations,” said Eyal Cohen, BOS’ CEO. “Our backlog grew by 29% from $24 million at year-end 2025 to $31 million as of March 31, 2026. We now anticipate exceeding our previously announced annual revenue target of $51 million. The depreciation of the U.S. dollar against the New Israeli Shekel is creating pressure on our profitability and as a result, at this stage, we are maintaining our net income target of $3.6 million for the full year. We are responding to the depreciation of the U.S dollar by working on accelerating revenue growth and improving gross profit margins.”

Investor Conference Call

BOS will host a video conference meeting on May 28, 2026, at 8:30 a.m. EDT. A question-and-answer session will follow management’s presentation. To access the video conference meeting, please click on the following link: https://us06web.zoom.us/j/89470679082?pwd=PlJwUwaXO74oZDDC3JiPS5rUvdZq6P.1

For those unable to participate in the video conference, a recording of the meeting will be available the next day on the BOS website: www.boscom.com 

About BOS

BOS integrates cutting-edge technologies to streamline and enhance supply chain operations for global customers in the aerospace, defense, industrial and retail sectors. The Company operates three specialized divisions:

Supply Chain Division

Distributes and integrates franchised electronic components directly into customer products.

RFID Division

Optimizes customers’ inventory management through state-of-the-art marking and tracking solutions, ensuring real-time visibility and control.

2

Intelligent Robotics Division

Automates industrial and logistics inventory processes through advanced robotics technologies, improving efficiency and precision.

For more information on BOS Better Online Solutions Ltd., visit www.boscom.com.

Contacts:

Toni McLaughlin, Director

Allele Communications | +1 786.290.7095 | tmclaughlin@allelecommunications.com

Eyal Cohen, CEO

BOS | +972-542525925 | eyalc@boscom.com

Use of Non-GAAP Financial Information

BOS reports financial results in accordance with U.S. GAAP and also provides certain 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 prepared in accordance with GAAP. The Company uses these non-GAAP measures to evaluate and manage its operations internally and is providing this information to assist investors in performing additional financial analysis 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.

Contracted backlog

Represents the estimated value of firm customer orders under contract as of the date indicated. Backlog is not a guarantee of future revenues, and may be canceled, modified, or delayed by customers.

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 a 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, 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 effect of the ongoing armed conflict and security conditions in Israel and in the region, 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.

3

CONSOLIDATED STATEMENTS OF OPERATIONS

U.S. dollars in thousands (except share and per share numbers)

		Three months ended March 31,								Year ended  December 31,
		2026				2025				2025
		(Unaudited)				(Unaudited)				(Audited)
Revenues		$	11,388			$	15,026			$	50,569
Cost of revenues			8,555				11,437				38,494
Gross profit			2,833				3,589				12,075
Operating costs and expenses:
Research and development			60				41				178
Sales and marketing			1,477				1,263				5,242
General and administrative			631				542				2,547
Impairment of Goodwill			-				-				1,200
Total operating costs and expenses			2,168				1,846				9,167
Operating income			665				1,743				2,908
Financial income (expenses), net			120				(272	)			590
Income before taxes on income			785				1,471				3,498
Income taxes benefits (expenses)			(20	)			(120	)			113
Net income		$	765			$	1,351			$	3,611
Basic net income per share		$	0.11			$	0.23			$	0.59
Diluted net income per share		$	0.11			$	0.22			$	0.57
Weighted average number of shares used in computing basic net income per share			7,036				5,900				6,161
Weighted average number of shares used in computing diluted net income per share			7,198				6,273				6,312
Number of outstanding shares as of  March 31, 2026 and  2025			7,050				5,924				7,029

4

CONSOLIDATED BALANCE SHEETS

(U.S. dollars in thousands)

		March 31, 2026				December 31, 2025
		(Unaudited)				(Audited)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents		$	10,555			$	11,825
Restricted bank deposits			118				98
Trade receivables			15,068				15,638
Other receivable and prepaid expenses			2,245				1,440
Inventories			6,750				6,541
Total current assets			34,736				35,542
OTHER LONG-TERM ASSETS			146				128
PROPERTY AND EQUIPMENT, NET			3,556				3,449
OPERATING LEASE RIGHT-OF-USE ASSETS, NET			857				926
DEFERRED TAX ASSETS			1,250				1,250
OTHER INTANGIBLE ASSETS, NET			885				361
GOODWILL			2,988				2,988
Total assets		$	44,418			$	44,644

5

CONSOLIDATED BALANCE SHEETS

(U.S. dollars in thousands)

		March 31, 2026				December 31, 2025
		(Unaudited)				(Audited)
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Short term loans and Current maturities of long-term loans		$	137			$	775
Operating lease liabilities, current			234				251
Trade payables			6,431				6,778
Employees and payroll accruals			1,173				1,266
Deferred revenues			3,477				3,129
Accrued expenses and other liabilities			762				983
Total current liabilities			12,214				13,182
LONG-TERM LIABILITIES:
Long-term loans, net of current maturities			947				972
Operating lease liabilities, non-current			730				768
Long term deferred revenues			306				286
Accrued severance pay			745				732
Total long-term liabilities			2,728				2,758
TOTAL SHAREHOLDERS’ EQUITY			29,476				28,704
Total liabilities and shareholders’ equity		$	44,418			$	44,644

6

CONDENSED CONSOLIDATED EBITDA

(U.S. dollars in thousands)

		Three months ended March 31,								Year ended December 31,
		2026				2025				2025
Operating income		$	665			$	1,743			$	2,908
Add:
Impairment of Goodwill			-				-				1,200
Amortization of intangible assets			115				15				60
Stock-based compensation			6				9				41
Depreciation			108				101				419
EBITDA		$	894			$	1,868			$	4,628

7

SEGMENT INFORMATION

(U.S. dollars in thousands)

		RFID				Supply Chain Solutions				Intelligent Robotics				Intercompany				Consolidated
		Three months ended March 31, 2025
Revenues		$	3,456			$	7,650			$	306			$	(24	)		$	11,388
Gross profit			658				2,026				149				-				2,833
Allocated operating expenses			563				1,143				111				-				1,817
Amortization of intangible assets			-				115				-								115
Unallocated operating expenses*															-				236
Income from operations		$	95			$	768			$	38				-			$	665
Financial income and tax on income																			100
Net income																		$	765

		RFID				Supply Chain Solutions				Intelligent Robotics				Intercompany				Consolidated
		Three months ended March 31, 2025
Revenues		$	3,259			$	11,390			$	496			$	(119	)		$	15,026
Gross profit			707				2,756				126				-				3,589
Allocated operating expenses			529				1,048				68				-				1,645
Unallocated operating expenses*																			201
Income from operations		$	178			$	1,708			$	58							$	1,743
Financial expenses and tax on income																			(392	)
Net income																		$	1,351

* 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.

8

SEGMENT INFORMATION

(U.S. dollars in thousands)

		RFID				Supply Chain Solutions				Intelligent Robotics				Intercompany				Consolidated
		Year ended December 31, 2025
Revenues		$	13,587			$	35,545			$	1,847			$	(410	)		$	50,569
Gross profit			2,900				8,745				430				-				12,075
Allocated operating expenses			2,365				4,277				276				-				6,918
Impairment and amortization of intangible assets			1,200				60				-								1,260
Unallocated operating expenses*			-				-				-								989
Income (loss) from operations		$	(665	)		$	4,408			$	154				-			$	2,908
Financial income and tax on income																			703
Net income																		$	3,611

* 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.

9

FAQ

How did BOSC perform financially in Q1 2026?

BOS reported Q1 2026 revenue of $11.4 million and net income of $765,000, or $0.11 per basic share. Gross profit was $2.8 million with a 24.9% margin, slightly higher than the 23.9% margin in Q1 2025.

How do BOSC’s Q1 2026 results compare with Q1 2025?

Q1 2026 revenue of $11.4 million was below Q1 2025’s $15.0 million, which included a one-time $2.5 million transaction. Net income declined from $1.35 million to $765,000, reflecting higher operating expenses and foreign-currency effects.

What 2026 guidance did BOSC provide in this 6-K filing?

Management now expects full-year 2026 revenue to exceed its earlier $51 million target and is maintaining a $3.6 million net income goal. This outlook is based on a larger contracted backlog and current business momentum across its divisions.

How large is BOSC’s backlog and what does it indicate?

Contracted backlog reached $31 million as of March 31, 2026, up from $24 million at year-end 2025. Backlog represents firm customer orders under contract and provides visibility into future revenue, although orders may be canceled, modified, or delayed.

What growth initiatives did BOSC highlight in India and defense markets?

BOS signed an exclusive agreement with Doppler Electronics in India and secured $3.3 million in Q1 Indian orders versus $172,000 a year earlier. It is also expanding its RFID division into the Israeli defense sector using consultants with defense procurement experience.

What was BOSC’s cash and debt position at March 31, 2026?

As of March 31, 2026, BOS held $10.6 million in cash and cash equivalents and $137,000 in short-term loans plus $947,000 in long-term loans. Cash and cash equivalents, net of loans, totaled approximately $9.5 million, supporting its operating and growth plans.

Filing Exhibits & Attachments

1 document

Press Releases

• EX-99.1 PRESS RELEASE: BOS REPORTS FINANCIAL RESULTS FOR THE FIRST QUARTER OF 2026 124.0 KB