Ladies and gentlemen, thank you for standing by. Welcome to the BOS Conference Call. All participants are present in listen-only mode. As a reminder, this conference call is being recorded and will be available on the BOS 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 in 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. Thank you for joining our quarterly video conference. It's a pleasure to connect with you again. Joining me today, Mr. Moshe Zeltzer, our CFO. Hello. Unfortunately, our chairman, Mr. Ziv Dekel, is unwell and unable to participate in today's call. I will begin by presenting an overview of BOS operations, financial performance, and growth strategy. Following that, we will open the session for a Q&A discussion. Let's get started. BOS integrates cutting-edge technologies to optimize and streamline and enhance supply chain operation across three specialized divisions. The robotic division automates the inventory process by replacing handwork with robots. Our RFID division optimizes inventory management by marking and tracking inventory through the supply chain. And the supply chain division does integration of its various electromechanical components into our clients' products. Let's dive into each division by sharing authentic videos. The robotic division streamlines industrial and logistics inventory processes by automating routine labor activities. The robotic division developed custom-made robotic cells and integrates off-the-shelf robots using its proprietary mechanical, electrical, and software. Our robotic cells for the civil segment are mainly machine-tending for production lines, meaning robots serve a production machine instead of an employee, and palletizing robots for logistics centers. The goal of our robotic cells is to reduce dependency on the workforce and increase capacities and accuracy in inventory production and logistics processes, all within our limitation of not more than three years. The robotic division has successfully transitioned to the defense sector. 90% of our project in process serves this rapidly growing market. The current production process in the defense industry relies heavily on labor and is struggling to meet the increasing demands for larger quantities, higher quality, and shorter lead time. This transition is a call to action for the industry to embrace robotics processes and an opportunity for us to grow our business. The robotic division flagship client is Elbit. Client is Elbit Systems, a global leader in the defense industry. Additionally, we serve prominent clients from the Israeli high-tech sector, showcasing our expertise in developing advanced robotic cells tailored to industry needs. Our RFID division optimizes inventory management throughout the supply chain by integrating our proprietary software and cutting-edge off-the-shelf equipment. We integrate ruggedized equipment for industrial and logistic processes such as handheld computers, forklift tablets, industrial scanners, thermal printers, RFID readers, and wireless access from leading manufacturers such as Zebra and Honeywell. Through our proprietary interfaces, each inventory transaction on site is reported instantly to the client ERP or MES, ensuring real-time data update. We provide our warehouse management software, and as a complementary service, we count our clients' inventory in warehouses, stores, mostly twice a year, by our professional staff, equipment, and proprietary software. Our RFID division majo r clients are Shufersal with 300 stores in the food retail sector, IKEA in the non-food retail sector, and Teva in the industrial sector. Our supply chain division is dedicated to integrating our franchise electromechanical components into the products of our clients from the defense and high-tech industries. Our team of engineers collaborates closely with the customer's R&D engineer to seamlessly integrate our franchise components into their cutting-edge products, ensuring ongoing OEM revenues. Our primary customers. We supply directly to them and also indirectly through their subcontractors worldwide, spanning the USA, India, and several countries in Europe. Financials. Our. I think you're on mute, Eyal. Oh, thank you. Thank you. I'll start again in the revenues. Our trailing 12 months' revenues amounted to $40 million. While we now anticipate falling, let me see that it's open, falling short of our projected $46 million annual revenues target and expect to close year 2024 with approximately $40 million in revenues. This shortfall is temporary. The primary reason for this deviation is a delay in delivering certain customers' orders by year-end, as a boost in orders began in the second half of the year, as was not evenly distributed throughout the year as initially anticipated. Just a moment. Sorry for a moment. Okay. Sorry for the technical issue here. Despite this temporary decline, we remain on track to achieve our net income target of $2.2 million for year 2024, showcasing our ability to effectively manage costs and maintain profitability even in the face of fluctuating revenues. Looking ahead, we are optimistic about our growth prospects for 2025, supported by strong indicators of future performance. Our backlog increased by 15% to $23 million as of the end of September this year, compared to $20 million at the end of 2023. Additionally, the $2.7 million order from the defense customer announced earlier this month underscores our growing momentum. A significant factor. The Israeli defense budget grew by an impressive 73% between the years 2023 and 2024, while the European defense budget increased by 16% between the years 2022 and 2023. These budget increases have a direct impact on our major clients, such as the Israeli aerospace industry, Rafael, and Elbit, and subsequently on us. As defense spending continues to rise globally, we are well-positioned to capitalize on these opportunities and drive future growth. Balance sheet. As of September 24, our company balance sheet shows total assets of $32 million, equity of $21 million, which is still higher than our current market cap, and cash net of loans of about $1 million. BOS growth strategy is two-fold, based on expansion overseas and strengthening our proposition. Growth overseas. We aim to expand our international sales by leveraging a strong relationship with Israeli defense customers who operate globally. By aligning with their international activities and offering tailored solutions, we are well-positioned to capitalize on new opportunities in the growing global defense market. This strategy has already borne fruit, with $6 million in overseas sales achieved in 2023 and recent agreements finalized with subcontractors in India and two in Greece. Furthermore, our robotic division is set to install a production line in Europe during the first half of 2025. Strengthen our proposition. We will continue to strengthen our relationship with our strategic defense customer by broadening our offering and ensuring that we meet their evolving needs. The RFID division that engages in the civil market will grow through acquisitions of complementary businesses or competitors, as we successfully did 2x before. Our team. BOS team includes four board members, three of whom are independent and one of whom is me. BOS executive team includes eight members with various skills and extensive experience in sales, marketing, technology operation, and finance. Because cutting-edge technology is a substantial foundation in our proposition, we engage two CTOs, one for the robotics division and one for the RFID division and supply chain. BOS has engaged 83 employees, of whom 30% are engineers and technicians. Valuation. There is a big gap between the valuation ratio of Russell 2000 Index and BOS Russell price-to-earnings ratio is 18 versus 9 for BOS Russell price-to-book value ratio is 2.1 versus less than 1 for BOS Recently, and for the first time, BOS was covered by an analyst report. According to the recent research report released by Think Equity, the target stock price for BOS is $5, which is higher by more than 40% than the current stock price. Increasing exposure to BOS will help to bridge this gap. This led me to the second item, the next item, which is the IR. At BOS, creating value for our shareholders is driven by consistent improvements in our financial performance, particularly through increasing profitability and effectively sharing this achievement with a broader audience of public market investors. To achieve this, we plan to partner with the U.S.-based investor relations firms to enhance our visibility in the U.S. capital markets. These efforts are specifically aimed at attracting investors who actively trade in the public market. Thank you for your attention, and I'm ready to take your question. Hey, good morning, Eyal. Question. Please unmute and present yourself while other participants remain mute. Thank you. Please. Good morning, Eyal. This is Todd Felte. I had a question about your backlog. You had mentioned it was $23 million as of September 30th. Is there any update that you can give us on that backlog? Yes. I think the momentum of the indicators for growing momentum is continuing. As the backlog as of September increased by 15% as compared to December, we're still seeing these days that the backlog continued to grow to a level of approximately $24 million, which is 20% higher than the backlog of December last year. And it's clear indication that the current decrease in revenues as compared to our initial forecast is temporarily, let's say, technically, let's say, related to the operations side. And according to the backlog, we will close this gap next year. Okay. Thank you. And then kind of a broader question. I noticed a 60-day ceasefire was announced between Israel and Lebanon yesterday. How will that affect your defense business, and do you continue to see your defense business being strong over the next few years? Yeah. First, I think that the ceasefire is great, and there are three major factors that will positively affect the Israeli defense industry. First, that during the recent conflict, Israel faced embargoes from some countries, and it's highlighting the urgency of reducing dependency on foreign suppliers, and as a result, we anticipate and we feel that a surge in demand for locally produced defense solutions is starting to be done. We see new facilities that start to work on new lines of products, so this is one effect. Additionally, the recent war in Israel was exceptionally long, lasting over one year, where the reserved level in military warehouses were initially planned for much shorter conflict. Consequently, the replenishment of these inventories will require restocking to levels significantly higher than before the war, and it's going to anticipate that it will create substantial demand for munitions. At the same time, we see what is happening in Europe. The ongoing conflict between Russia and Ukraine continues to have a profound long-term impact on the defense budget in Europe, as we saw before in the chart. It's growing. The defense budget is growing. The Israeli defense industry, known for its advanced technology and innovation, plays a critical role in fulfilling a substantial portion of the European defense demands. We believe these factors position us to capitalize on the growing global defense market and to grow our business in the long term. Okay. That's very helpful. Do you know how many countries in Europe that you're currently shipping components to? We are currently selling to, again, to which? To To BOS at all or to a specific division? Overall. Overall, currently, we are selling to three countries in Europe, but it's in a growing trend. And we are selling also to the U.S. and to India. Okay. Thank you for taking my questions. Thank you, too. Is there any other further questions? Friends, investors? If you have questions, please unmute and present yourself. Okay. There are no further questions at this time. Thank you all for joining us today and for your continued interest in BOS We appreciate the opportunity to share our progress, financial results, and growth strategy with you. Your support and trust are critical as we work toward delivering long-term value to you, to the shareholders. If you have any further questions or need additional information, please feel free to reach out to me directly. And we are looking forward to connecting with you again in our next update. Wishing you all a great day. Thank you.