Yahoo Finance B.O.S. Better Online Solutions Ltd. (NASDAQ:BOSC) Q4 2023 Earnings Call Transcript
B.O.S. Better Online Solutions Ltd. (NASDAQ:BOSC) Q4 2023 Earnings Call Transcript March 28, 2024
B.O.S. Better Online Solutions Ltd. isn't one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).
Operator: Ladies and gentlemen, thank you for standing by. Welcome to the B.O.S Conference Call. A participants are at present in listen-only mode. As a reminder, this conference call is being recorded and will be available on the B.O.S website as of tomorrow. Before I turn the call over to Mr. Cohen, I would like to remind everyone that forward-looking statements for the respective 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 to, product demand, pricing, market acceptance, changing economic conditions, risks and product and technology development and the effect of the company's accounting policies as well as certain other 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.
Eyal Cohen: Thank you for joining our call today. Mr. Ziv Dekel, Chairman; Moshe Zelter, CFO, are on the call with me today. I am excited to meet here again at our quarterly video meeting. During this meeting, we will review our financial results and business trends and growth strategy. After that, we'll have a Q&A session. Year '23 reflects record result of B.O.S. We have achieved this goal gradually and consistently since year '21. During those years, our revenue grew from $33.6 million in year '21 to $44.2 million in year '23. EBITDA grew from a less than $1 million in year '21 to more than $3 million in year '23. Our net income grew from $0.5 million in year '21 to $2 million in year '23 and our EPS grew from $0.08 in year '21 to $0.35 in year '23.
During those years, we also strengthened our financial position. Our total assets grew from $25 million in year '21 to $32 million in year ‘23. Our shareholders' equity increased from $40 million in year '21 to $90 million in year '23, and our cash net of bank loans remained positive, standing at $1.2 million at the end of year '23. Despite all those positive trends and progresses that we have been made during this period, our market cap remained roughly unchanged. It was $50 million on December '21 and remains $50 million, $60 million today. The following slide presents B.O.S. current valuation ratio. The market cap ratio to net income of year '23 is 7.7. Market cap ratio projected net income for year '24 is 7.1. Market cap ratio to EBITDA of year '23 is 5.4 and market cap ratio to shareholders' equity is only -- is less than 1 -- I think it's 82%.
I hope that B.O.S. we've had analyst coverage this year to expose our story to more investors. Business trends. In year '23, the Supply Chain division expanded the list of electronic manufacturers it represents and increased its sales force. Hence, we expect revenue growth from those products in year '24 and forward. In addition, the current situation in Israel has increased the demand for Israeli Defense segment, and we anticipate that it will positively affect the Supply Chain division revenues in year '24. On the other hand, during year '23, this division benefited from high demand for electronic components because of the shortage in the market during the COVID period. We expect that in year '24, the market will return to standard demands.
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