B.O.S. Better Online Solutions
BOSC Technology Communication Equipment
B.O.S. Better Online Solutions' revenue for fiscal 2025 (year ended December 2025) was $50.6 million, up 26.6% from fiscal 2024. In the quarter to June 2026, revenue grew 28.9%, EPS grew 46.2%, free cash flow grew 208.7% and total debt fell 11.0%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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B.O.S. Better Online Solutions (BOSC) Beneish M-score
B.O.S. Better Online Solutions's Beneish M-score for fiscal 2025 is −2.49; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
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Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2025 | −2.49 | 0.03 |
| FY2024 | −2.52 | (0.19) |
| FY2023 | −2.33 | (0.04) |
| FY2022 | −2.29 | (0.09) |
| FY2021 | −2.20 | 0.73 |
| FY2020 | −2.93 | (0.55) |
| FY2019 | −2.38 | (0.03) |
| FY2018 | −2.35 | (0.03) |
| FY2017 | −2.32 | (0.23) |
| FY2016 | −2.09 | 0.24 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 1.04 | — | 0.96 | |
| Gross margin index | 0.97 | — | 0.51 | |
| Asset quality index | 0.66 | — | 0.27 | |
| Sales growth index | 1.27 | — | 1.13 | |
| Depreciation index | 0.83 | — | 0.09 | |
| SG&A index | 0.95 | — | −0.16 | |
| Total accruals to total assets | (0.03) | — | −0.15 | |
| Leverage index | 0.94 | — | −0.31 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −2.49 | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| CMTL Comtech Telecommunications Corp. compare | −3.7× |
| CMBMF Cambium Networks Corporation compare | −3.1× |
| AIRG Airgain, Inc. compare | −3.0× |
| AMPG AmpliTech Group, Inc. compare | −2.6× |
| BOSC B.O.S. Better Online Solutions | −2.5× |
| FKWL Franklin Wireless Corp. compare | −2.0× |
| INSG Inseego compare | −1.9× |
| UTSI UTStarcom Holdings Corp compare | −1.8× |
| WATT Energous Corporation compare | 7.6× |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI