BOS Raises 2026 Revenue Guidance Above $51M as Backlog Climbs 29% in Q1
BOSC•BOS posted Q1 revenues of $11.4M and net income of $765k ($0.11/share), compared to $15M revenue and $1.35M net income in Q1 2025. Backlog grew 29% to $31M and forecasts full-year revenue above $51M while maintaining a $3.6M net income target despite a 13.6% U.S. dollar depreciation.
1. First Quarter Financial Performance
BOS recorded Q1 2026 revenues of $11.4 million, down from $15.0 million in Q1 2025 but in line with the $12.6 million quarterly average excluding an outsized $2.5 million deal. Gross profit was $2.8 million (24.9% margin) and net income totaled $765,000 ($0.11 per share), versus $1.35 million ($0.23 per share) a year earlier.
2. Backlog Growth and Full-Year Guidance
Contracted backlog increased 29% from $24 million at year-end 2025 to $31 million as of March 31, 2026, driven by a surge in Indian orders and full control of a wire products joint venture. Management now anticipates exceeding $51 million in 2026 revenue while holding its $3.6 million net income forecast.
3. Currency Impact and Strategic Initiatives
A 13.6% U.S. dollar depreciation against the Israeli shekel raised operating expenses and trimmed operating income to $665,000. BOS also expanded its Supply Chain division with an exclusive Indian distribution deal and moved its RFID business into the defense sector, aiming to diversify revenue streams.
