The revenue decline is mostly due to a prior-year outsized transaction, while backlog growth (+29%) and raised guidance signal improving demand. However, FX headwinds are compressing margins and net income guidance is held flat despite higher revenue, implying margin dilution. Watch Q2 2026 for backlog conversion rate and FX stabilization — a beat on revenue without margin improvement may not sustain bullish momentum.
Price Chart
Executive Summary
BOS reported Q1 2026 revenue of $11.4M (down from $15.0M in Q1 2025, which included a $2.5M outsized transaction) and net income of $765K ($0.11/share) vs $1.35M ($0.23/share) last year. The company raised full-year 2026 revenue guidance above $51M, maintained its net income target of $3.6M, and reported a 29% backlog increase to $31M. Operating income fell to $665K from $1.7M, pressured by a 13.6% USD/NIS depreciation.
Key Facts
- Q1 2026 revenue of $11.4M vs $15.0M in Q1 2025 (comp impacted by $2.5M outsized transaction in prior year)
- Net income of $765K ($0.11/share) vs $1.35M ($0.23/share) in Q1 2025
- Operating income of $665K vs $1.7M in Q1 2025; gross margin improved to 24.9% from 23.9%
- Backlog grew 29% to $31M as of March 31, 2026 from $24M at year-end 2025
- Raised full-year 2026 revenue guidance above prior $51M target; maintained net income target of $3.6M
- Supply Chain division signed exclusive distribution deal with Doppler Electronics for Indian market; $3.3M in Q1 orders from India vs $172K last year
- Acquired remaining 50% of wire products JV for ~$641K; wire product revenues contributed $500K in Q1
- Launched RFID defense sector expansion initiative with IDF veterans consulting firm
- USD/NIS depreciation of 13.6% pressured operating expenses and profitability
- Cash net of loans at $9.5M as of March 31, 2026 vs $10.1M at December 31, 2025
Financial Impact
Revenue down 24% YoY headline but recurring run-rate roughly flat on normalized basis; net income down 43% YoY; raised revenue guidance implies ~$51M+ full-year vs $50.6M in FY2025, a modest ~1%+ growth
Risk Factors
- Continued USD/NIS depreciation further compressing operating margins
- Backlog conversion to revenue may be delayed or canceled (backlog is not guaranteed revenue)
- Smart Robotics segment revenue declined 38% YoY ($306K vs $496K), a small but declining segment
- Concentration risk from rapid India expansion; Indian orders may be lumpy or one-off
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001213900-26-061880 |
| Document: ea0292138-6k_bosbet.htm | 0001213900-26-061880 |
| Document: 0001213900-26-061880-index-headers.html | 0001213900-26-061880 |
| Document: 0001213900-26-061880-index.html | 0001213900-26-061880 |
| Document: 0001213900-26-061880.txt | 0001213900-26-061880 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 20, 2026 7d ago | 6-K | $4.26 | awaiting T+20 | — | $4.33 (+1.64%) |
Oct 1, 2026 26d ago | Press Release | $4.63 | awaiting T+20 | — | $4.33 (−6.48%) |
Sep 30, 2026 27d ago | 6-K | $4.63 | awaiting T+20 | — | $4.33 (−6.48%) |
Aug 20, 2026 9w ago | 6-K | $4.69 $4.72 | ▲ +0.64% | ▲ +0.64% | $4.33 (−7.68%) |
Aug 20, 2026 9w ago | Press Release | $4.69 $4.72 | ▲ +0.64% | ▲ +0.64% | $4.33 (−7.68%) |
Jul 17, 2026 14w ago | 6-K | $4.24 $4.56 | ▲ +7.55% | ▲ +3.10% | $4.33 (+2.12%) |
Jun 9, 2026 20w ago | Press Release | $4.31 | awaiting T+20 | — | $4.33 (+0.46%) |
May 28, 2026 21w ago | 6-K | $4.29 $4.51 | ▲ +5.13% | ▲ +8.27% | $4.33 (+0.93%) |
May 28, 2026 21w ago | Press Release | $4.29 $4.51 | ▼ −5.13% | ▼ −8.27% | $4.33 (−0.93%) |
Mar 31, 2026 30w ago | Press Release | $4.49 $4.71 | ▲ +4.90% | ▼ −4.52% | $4.33 (−3.56%) |
US Market Status
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