B.O.S. Better Online Solutions Ltd. (NASDAQ:BOSC) Q4 2022 Earnings Call Transcript

Eyal Cohen: Thank you. Thank you for joining the call. David, thank you for the question. I think that it was a very good year for the supply chain because of the shortage of components. And we had the very good system in place how to, to provide our client the components in a very good, in a, in a fair price for us. The second element that impacted the result toward the pain conflict in that increases the difference budget of certain countries in Europe. The Israeli defense industry is one of the biggest providers and their provider BOS is their provider. It is positively reflected in 2022. I don’t see that this trend will change in next year, although we, the shortage in components is recovering gradually, but I don’t think that the defense budget in the next year will be reduced.

So we still believe that it will be a good year for the supply chain and it has a very good backlog as well. And we have plan also to expand the business of the supply chain by adding more services to this unit that will yield in year 2024.

David Dansby: That’s great and very helpful. Congrats again.

Eyal Cohen: Thank you.

Operator: There are no further questions at this time. I would now like to turn the call over to Mr. Ziv Dekel, Chairman to make a concluding statement. Mr. Dekel, please go ahead.

Ziv Dekel: Thank you for joining us today. This was — this year was characterized by a continued execution of our plan for business improvement capability build up, and solution offering expansion which Eyal and the team are successfully leading and will lead for the year of 2023. Accordingly, we see the notable achievement of realizing our targets for 2022. Looking forward to 2023 and onwards, I trust Eyal and the management to further implement BOS’s strategy to yield up a top line growth and increase profit margin, market share, and competitive position. Thank you for spending your time with us. Please do not hesitate to contact Eyal or me for further information or questions. Looking forward to meeting you on our next quarterly call.

Operator: Thank you. I would like to remind participants that a replay of this call will be available on the company’s website www.bosscom.com by tomorrow. This concludes the BOS fourth quarter and full year 2022 results conference call. Thank you for your participation. You may go ahead and disconnect.