Eltek Ltd【ELTK】株式ニュース

Eltek Ltd. Reports 2026 First Quarter Financial ResultsMay 19, 2026 7:30 AM
PR Newswire (US) PETACH TIKVA, Israel, May 19, 2026 /PRNewswire/ -- Eltek Ltd. (NASDAQ: ELTK), a leading global manufacturer of high-quality printed circuit boards, today announced its financial results for the quarter ended March 31, 2026. First Quarter 2026 HighlightsRevenues of $10.4 millionOperating loss of $1.9 millionNet loss of $2.9 million or $0.42 per fully diluted shareNet cash used in operating activities amounted to $0.4 million.The continuous sharp depreciation of the U.S. dollar against the Israeli shekel had a material impact on the Company's operating results. This currency movement increased the Company's shekel-denominated expenses when translated into U.S. dollars, resulting in an increase of approximately $1.3 million in reported NIS-based operating expenses, compared to the first quarter of 2025. In addition, the Company's operations during the quarter were affected by the challenging security environment in the region, including temporary disruptions to regular work routines and reduced operational availability at certain times."As we indicated in April 2026, our operating results for the quarter were adversely affected by the late phasing of the Company's order backlog during the quarter, although our backlog has grown significantly. In addition, we experienced certain temporary logistical constraints, which contributed to the results for the quarter," said Eli Yaffe, CEO of Eltek."The continued growth in our order backlog reflects the underlying strength in demand for our products. While the timing of backlog execution impacted our results in the first quarter, we remain confident in our ability to convert this backlog into revenue over the coming periods. At the same time, we are actively addressing the logistical challenges and expect conditions to improve gradually," concluded Mr. Yaffe.First Quarter 2026 GAAP Financial ResultsRevenues for the first quarter of 2026 were $10.4 million, compared to $12.8 million in the first quarter of 2025.Gross loss for the first quarter of 2026 was $1.9 million compared to gross profit of $2.2 (17% of revenues) in the first quarter of 2025.Operating loss for the first quarter of 2026 was $3.3 million compared to operating profit of $0.7 million in the first quarter of 2025.Net loss for the first quarter of 2026 was $2.9 million or $0.42 per fully diluted share compared to net income of $1.0 million or $0.15 per fully diluted share in the first quarter of 2025.Cash and short-term bank deposits amounted to $11.1 million as of March 31, 2026, with no outstanding debt.First Quarter 2026 Non-GAAP Financial ResultsEBITDA loss for the first quarter of 2026 was $2.7 million compared to EBITDA of $1.2 million (9% of revenues) in the first quarter of 2025.About our Non-GAAP Financial InformationThe Company reports financial results in accordance with U.S. GAAP and herein provides EBITDA, a non-GAAP measure. This non-GAAP measure is not in accordance with, nor is it a substitute for, GAAP measures. This non-GAAP measure is intended to supplement the Company's presentation of its financial results that are prepared in accordance with GAAP. The Company uses the non-GAAP measure presented to evaluate and manage the Company's operations internally. The Company is also providing this information to assist investors in performing additional financial analysis. Reconciliation between the Company's results on a GAAP and non-GAAP basis is provided in a table below.Conference CallToday, Tuesday, May 19, 2026, at 8:30am Eastern Time (15:30pm Israel Time, 5:30am Pacific Time), Eltek will conduct a conference call to discuss the results. The call will feature remarks by Eli Yaffe, Chief Executive Officer and Ron Freund, Chief Financial Officer.To participate, please call the following teleconference numbers. Please allow for additional time to connect prior to the call:United States: 1-866-860-9642
Israel:                          03-918-0691
International:               +972-3-918-0691To Access a Replay of the CallA replay of the call will be available for 30 days on the Investor Info section on Eltek's corporate website at http://www.nisteceltek.com approximately 24 hours after the conference call is completed.About EltekEltek – "Innovation Across the Board", is a global manufacturer and supplier of technologically advanced solutions in the field of printed circuit boards (PCBs) and is an Israeli leading company in this industry. PCBs are the core circuitry of most electronic devices. Eltek specializes in the manufacture and supply of complex and high-quality PCBs, HDI, multilayered and flex-rigid boards for the high-end market. Eltek is ITAR compliant and has AS-9100 and NADCAP Electronics certifications. Its customers include leading companies in the defense, aerospace and medical industries in Israel, the United States, Europe and Asia.Eltek was founded in 1970. The Company's headquarters, R&D, production and marketing center are located in Israel. Eltek also operates through its subsidiary in North America and by agents and distributors in Europe, India, South Africa and South America.For more information, visit Eltek's web site at www.nisteceltek.comForward Looking Statements Some of the statements included in this press release may be forward-looking statements that involve a number of risks and uncertainties including, but not limited to expected results in future quarters, the impact of currency movements between the US Dollar exchange rate against the Israeli Shekel, the impact of the Coronavirus on the economy and our operations, risks in product and technology development and rapid technological change, product demand, the impact of competitive products and pricing, market acceptance, the sales cycle, changing economic conditions and other risk factors detailed in the Company's Annual Report on Form 20-F and other filings with the United States Securities and Exchange Commission. Any forward-looking statements set forth in this press release speak only as of the date of this press release. The information found on our website is not incorporated by reference into this press release and is included for reference purposes only.Investor ContactRon Freund
Chief Financial Officer
Investor-Contact @GMan-939-5023   Eltek Ltd.Consolidated Statements of IncomeU.S. dollars in thousands (except per share data)

Three months ended

March 31,

2026
2025

Revenues
10,436
12,756
Costs of revenues
(12,288)
(10,544)

Gross profit (loss)
(1,852)
2,212

Research and development, expenses, net
-
(50)
Selling, general and administrative expenses
(1,415)
(1,437)

Operating income (loss)
(3,267)
725

Financial income (expenses), net
(94)
504

Income (loss) before income taxes
(3,361)
1,229

Income tax expenses (tax benefit)
(508)
227

Net Income (loss)
(2,853)
1,002

Earnings per share:

Basic net income (loss) per ordinary share
(0.42)
0.15

Diluted net income (loss) per ordinary share
(0.42)
0.15

Weighted average number of ordinary shares used to compute

basic net income (loss) per ordinary share (in thousands)
6,719
6,714

Weighted average number of ordinary shares used to compute

diluted net income (loss) per ordinary share (in thousands)
6,786
6,785

  Eltek Ltd.Consolidated Balance SheetsU.S. dollars in thousands

March 31,
December 31,

2026
2025

Assets

Current assets:

Cash and cash equivalents
11,054
2,481

Short-term bank deposits
-
9,643

Trade receivables (net of allowance for credit losses)
11,338
14,789

Inventories
9,373
11,154

Other accounts receivable and prepaid expenses
699
607

Total current assets
32,464
38,674

Long term assets:

Severance pay fund
71
65

Deferred tax assets, net
913
387

Operating lease right-of-use assets
11,851
6,272

Total long term assets
12,835
6,724

Property and equipment, net
22,647
20,862

Total Assets
67,946
66,260

Liabilities and Shareholder's equity

Current liabilities:

Trade payables
5,032
6,047

Other accounts payable and accrued expenses
5,913
6,565

Short-term operating lease liabilities
494
1,100

Total current liabilities
11,439
13,712

Long-term liabilities:

Accrued severance pay
528
515

Long-term operating lease liabilities
11,629
5,296

Total long-term liabilities
12,157
5,811

Shareholders' equity:

Ordinary shares, NIS 3.0 par value authorized 10,000,000 shares, issued and outstanding 6,719,827 at March 31, 2026 and December 31, 2025
6,012
6,012

Additional paid-in capital
32,662
32,662

Foreign currency translation adjustments
6,462
6,111

Capital reserve
3,134
3,019

Retained earnings (accumulated deficit)
(3,920)
(1,067)

Total shareholders' equity
44,350
46,737

Total liabilities and shareholders' equity
67,946
66,260



Eltek Ltd.

Unaudited Non-GAAP EBITDA Reconciliations

U.S. dollars in thousands

Three months endedMarch 31,

2026
2025

GAAP net Income (loss)
(2,853)
1,002

Add back items:

Financial (income) expenses, net
94
(504)

Income tax expenses (tax benefit)
(508)
227

Depreciation and amortization
590
465

Non-GAAP EBITDA (EBITDA loss)
(2,677)
1,190

  Eltek Ltd.Consolidated Statements of Cash FlowsU.S. dollars in thousands

Three months ended

March 31,

2026
2025

Cash flows from operating activities:

Net Income (loss)
(2,853)
1,002

Adjustments to reconcile net income to net cash flows

provided by operating activities:

Depreciation
590
465

Accrued interest, net
(69)
(128)

Share-based compensation
115
138

Decrease (increase) in deferred tax assets
(530)
82

106
557

Decrease (increase) in operating lease right-of-use assets
149
1

Decrease (increase) in trade receivables
3,618
(355)

Decrease (increase) in other receivables and prepaid expenses
(88)
(67)

Decrease (increase) in inventories
1,895
(330)

Increase (decrease) in trade payables
(2,507)
(862)

Increase (decrease) in other liabilities and accrued expenses
(714)
173

Increase (decrease) in employee severance benefits, net
9
7

2,362
(1,433)

Net cash provided by (used in) operating activities
(385)
126

Cash flows from investing activities:

Purchase of fixed assets
(739)
(1,137)

Withdrawal of (investment in) short-term bank deposits, net
9,712
534

Net cash provided by (used in) investing activities
8,973
(603)

Cash flows from financing activities:

Exercise of options
-
-

Repayment of long-term loans from bank
-
-

Issuance of shares, net
-
-

Net cash provided by (used in) financing activities
-
-

Effect of translation adjustments
(15)
(632)

Net increase (decrease) in cash and cash equivalents
8,573
(1,109)

Cash and cash equivalents at the beginning of the period
2,481
7,575

Cash and cash equivalents at the end of the period
11,054
6,466

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Eltek Ltd. Reports Full Year and Fourth Quarter 2026 Financial ResultsMarch 9, 2026 7:30 AM
PR Newswire (US)

PETACH TIKVA, Israel, March 9, 2026 /PRNewswire/ -- Eltek Ltd. (NASDAQ: ELTK), a global manufacturer and supplier of technologically advanced solutions in the field of printed circuit boards (PCBs), today announced its financial results for the full year and fourth quarter ended December 31, 2025.
Full Year and Fourth Quarter 2025 HighlightsRevenues: Revenues for 2025 were $51.8 million, an increase of 11% ($5.3 million) compared to 2024.Profitability: Net income reached $0.8 million in 2025 compared to $4.2 million in 2024. EBITDA reached $4.5 million compared to $5.9 million in 2024.Q4 Highlights: Revenue for the fourth quarter amounted to $13.2 million, compared to $10.8 million in the corresponding period of the previous year. Loss for the quarter was $0.3 million, while EBITDA totaled $0.7 million. Transition Period and Future Growth Outlook:2025 was a challenging year, during which the Company's manufacturing operations underwent significant transformation as part of the Company's preparation for the integration of its new plating lines. As part of this process, entire production systems were relocated to new facility space, accompanied by the replacement and upgrading of machinery.These extensive operational changes, while strategically important for the Company's long-term growth, led at times to complex operational challenges that were reflected in lower profitability during the year. In parallel, the Company experienced workforce-related challenges, including the recruitment and training of personnel required to operate and support the new equipment, as well as the retention of skilled employees with critical expertise.In addition, the sharp depreciation of the U.S. dollar against the Israeli shekel—from NIS 3.65 per dollar to NIS 3.19 per dollar, representing a decline of approximately 13% - had a material impact on the Company's operating results. This currency movement increased the Company's shekel-denominated expenses when translated into U.S. dollars, resulting in an increase of approximately $2.2 million in reported NIS-based operating expenses.Market Trends and Outlook:Global demand for high-performance printed circuit boards (PCBs) continues to strengthen, particularly in the defense and medical technology sectors, where reliability and multi-layer complexity are mission critical. Elevated global defense budgets, modernization of electronic warfare and radar systems, and increasing deployment of unmanned and autonomous platforms are driving sustained demand for advanced HDI and rigid-flex solutions. The medical market is expanding rapidly, fueled by growth in diagnostic imaging, minimally invasive systems, implantable devices and wearable technologies, all of which require compact, high-reliability PCB architectures.The Company's strategic capital expenditures program is directly aligned with these market dynamics. Investments in new plating lines and upgraded production infrastructure are designed to expand capacity, enhance technological capabilities and support increasingly complex product families required by customers in these high-growth segments.Management Statement:Eli Yaffe, CEO of Eltek, stated, "Our investment program over the past year reflects our strong conviction in the long-term growth of the high-performance PCB market, particularly in the defense, medical and high-end industrial sectors. These industries require advanced technological capabilities, uncompromising quality standards and increasing production sophistication — areas in which we are strategically strengthening our position.The expansion and modernization of our manufacturing infrastructure are designed not only to increase capacity, but also to support more complex, higher-value product families aligned with evolving customer requirements. While the transition period presents ongoing operational challenges, we view these investments as foundational to our next phase of growth." 2025 Full Year GAAP Financial ResultsRevenues for 2025 were $51.8 million compared to $46.5 million in 2024.Gross profit for 2025 was $8.0 million (15 % of revenues) compared to $10.3 million (22% of revenues) in 2024.Operating profit for 2025 was $2.3 million compared to operating profit of $4.4 million in 2024.Financial expenses for 2025 were $1.3 million compared to financial income of $0.7 million in 2024. The financial expenses derive primarily from the erosion of the U.S. Dollar against the NIS during the year.Net profit for 2025 was $0.8 million or $0.12 per fully diluted share compared to net profit of $4.2 million or $0.63 per fully diluted share in 2024.2025 Full Year Non-GAAP Financial ResultsEBITDA for 2025 was a $4.5 million (9% of revenues) compared to EBITDA of $5.9 million (13% of revenues) in 2024.Fourth Quarter 2025 GAAP Financial ResultsRevenues for the fourth quarter of 2025 were $13.2 million compared to $10.8 million in the fourth quarter of 2024.Gross profit for the fourth quarter of 2025 was $1.2 million (9% of revenues) compared to $1.9 million (18% of revenues) in the fourth quarter of 2024.Operating profit for the fourth quarter of 2025 was $0.1 million compared to operating profit of $0.4 million in the fourth quarter of 2024.Financial expenses for the fourth quarter of 2025 were $0.5 million, compared to financial expenses of $0.3 million in the fourth quarter of 2024. The financial expenses derive primarily from the erosion of the U.S. Dollar against the NIS during the quarter.Net loss for the fourth quarter of 2025 was $0.3 million compared to net profit of $23 thousand in the fourth quarter of 2024.Fourth Quarter 2025 Non-GAAP Financial ResultsEBITDA for the fourth quarter of 2025 was $0.7 million (5% of revenues) compared to EBITDA of $0.8 million (7% of revenues) in the fourth quarter of 2024.About our Non-GAAP Financial InformationThe Company reports financial results in accordance with U.S. GAAP and herein provides EBITDA, a non-GAAP measure. This non-GAAP measure is not in accordance with, nor is it a substitute for, GAAP measures. This non-GAAP measure is intended to supplement the Company's presentation of its financial results that are prepared in accordance with GAAP. The Company uses the non-GAAP measure presented to evaluate and manage the Company's operations internally. The Company is also providing this information to assist investors in performing additional financial analysis. Reconciliation between the Company's results on a GAAP and non-GAAP basis is provided in a table below.Conference CallToday, Monday, March 9, 2026, at 9:30am Eastern Time (15:30pm Israel Time, 6:30am Pacific Time), Eltek will conduct a conference call to discuss the results. The call will feature remarks by Eli Yaffe, Chief Executive Officer and Ron Freund, Chief Financial Officer.To participate, please call the following teleconference numbers. Please allow for additional time to connect prior to the call:United States: 1-866-860-9642Israel: 03-918-0691International: +972-3-918-0691To Access a Replay of the CallA replay of the call will be available for 30 days on the Investor Info section on Eltek's corporate website at http://www.nisteceltek.com approximately 24 hours after the conference call is completed.About EltekEltek – "Innovation Across the Board", is a global manufacturer and supplier of technologically advanced solutions in the field of printed circuit boards (PCBs) and is an Israeli leading company in this industry. PCBs are the core circuitry of most electronic devices. Eltek specializes in the manufacture and supply of complex and high-quality PCBs, HDI, multilayered and flex-rigid boards for the high-end market. Eltek is ITAR compliant and has AS-9100 and NADCAP Electronics certifications. Its customers include leading companies in the defense, aerospace and medical industries in Israel, the United States, Europe and Asia.Eltek was founded in 1970. The Company's headquarters, R&D, production and marketing center are located in Israel. Eltek also operates through its subsidiary in North America and by agents and distributors in Europe, India, South Africa and South America.For more information, visit Eltek's web site at www.nisteceltek.com Forward Looking Statements Some of the statements included in this press release may be forward-looking statements that involve a number of risks and uncertainties including, but not limited to expected results in future quarters, the impact of currency movements between the US Dollar exchange rate against the Israeli Shekel, the impact of the Coronavirus on the economy and our operations, risks in product and technology development and rapid technological change, product demand, the impact of competitive products and pricing, market acceptance, the sales cycle, changing economic conditions and other risk factors detailed in the Company's Annual Report on Form 20-F and other filings with the United States Securities and Exchange Commission. Any forward-looking statements set forth in this press release speak only as of the date of this press release. The information found on our website is not incorporated by reference into this press release and is included for reference purposes only.Investor ContactRon Freund
Chief Financial Officer
Investor-Contact @GMan-939-5023(Tables follow) Eltek Ltd.Consolidated Statements of Income(In thousands US$, except per share data)

Three months ended
Twelve months ended

December 31,
December 31,

2025
2024
2025
2024

Revenues
13,238
10,758
51,790
46,527

Costs of revenues
(12,081)
(8,824)
(43,806)
(36,188)

Gross profit
1,157
1,934
7,984
10,339

Research and development expenses, net
-
(108)
(50)
(187)

Selling, general and administrative expenses
(1,041)
(1,468)
(5,587)
(5,760)

Operating income
116
358
2,347
4,392

Financial income (expenses), net
(479)
(271)
(1,274)
705

Income (loss) before income taxes
(363)
87
1,073
5,097

Income tax expenses (tax benefit)
(53)
64
247
873

Net income (loss)
(310)
23
826
4,224

Earnings per share:

Basic net income (loss) per ordinary share
(0.05)
-
0.12
0.64

Diluted net income (loss) per ordinary share
(0.05)
-
0.12
0.63

Weighted average number of ordinary shares used to compute

basic net income (loss) per ordinary share (in thousands)
6,720
6,713
6,716
6,626

Weighted average number of ordinary shares used to compute

diluted net income (loss) per ordinary share (in thousands)
6,796
6,782
6,789
6,701

  Eltek Ltd.Consolidated Balance Sheets(In thousands US$)

December 31,
December 31,

2025
2024

Assets

Current assets:

Cash and cash equivalents
2,481
7,575

Short-term bank deposits
9,643
9,663

Trade receivables (net of allowance for credit losses)
14,789
11,786

Inventories
11,154
9,488

Other accounts receivable and prepaid expenses
607
602

Total current assets
38,674
39,114

Long term assets:

Severance pay fund
65
56

Deferred tax assets, net
387
496

Operating lease right-of-use assets
6,272
5,911

Total long term assets
6,724
6,463

Property and equipment, net
20,862
14,578

Total Assets
66,260
60,155

Liabilities and Shareholder's equity

Current liabilities:

Trade payables
6,047
7,367

Other accounts payable and accrued expenses
6,565
5,136

Short-term operating lease liabilities
1,100
827

Total current liabilities
13,712
13,330

Long-term liabilities:

Accrued severance pay
515
443

Long-term operating lease liabilities
5,296
5,190

Total long-term liabilities
5,811
5,633

Shareholders' equity:

Ordinary shares, NIS 3.0 par value authorized 10,000,000 shares, issued
and outstanding 6,719,827 at December 31, 2025 and 6,714,040 at
December 31, 2024
6,012
6,011

Additional paid-in capital
32,662
32,627

Foreign currency translation adjustments
6,111
664

Capital reserves
3,019
2,507

Accumulated deficit
(1,067)
(617)

Total shareholders' equity
46,737
41,192

Total liabilities and shareholders' equity
66,260
60,155

  Eltek Ltd.Unaudited Non-GAAP EBITDA Reconciliation(In thousands US$)

Three months ended
Twelve months ended

December 31,
December 31,

2025
2024
2025
2024

GAAP Net Income (loss)
(310)
23
826
4,224
Add back items:

Financial income (expenses), net
(479)
(271)
(1,274)
705
Income tax expenses (tax benefit)
(53)
64
247
873
Depreciation and amortization
574
405
2,104
1,546
Non-GAAP EBITDA
690
763
4,451
5,938



Eltek Ltd.Consolidated Statements of Cash Flows(In thousands US$)

Three months ended
Twelve months ended

December 31,
December 31,

2025
2024
2025
2024

Cash flows from operating activities:

Net Income (loss)
(310)
23
826
4,224

Adjustments to reconcile net income to net cash flows

provided by operating activities:

Depreciation
574
405
2,104
1,546

Accrued interest, net
269
(392)
746
(463)

Share-based compensation
111
161
512
607

Decrease (increase) in deferred tax assets
(63)
217
166
621

891
391
3,528
2,311

Decrease (increase) in operating lease right-of-use assets, net
(16)
(2)
3
2

Decrease (increase) in trade receivables
(108)
1,230
(1,215)
(988)

Decrease (increase) in other receivables and prepaid expenses
(162)
(260)
75
341

Decrease (increase) in inventories
1,472
(2,711)
(283)
(3,532)

Increase (decrease) in trade payables
(814)
378
(2,951)
929

Increase (decrease) in other liabilities and accrued expenses
542
966
641
1,255

Increase (decrease) in employee severance benefits, net
(57)
(4)
8
(2)

857
(403)
(3,722)
(1,995)

Net cash provided by operating activities
1,438
11
632
4,540

Cash flows from investing activities:

Purchase of fixed assets
(1,085)
(1,592)
(5,351)
(9,506)

proceeds from (Investment in) short-term bank deposits, net
-
303
534
(6,365)

Net cash used in investing activities
(1,085)
(1,289)
(4,817)
(15,871)

Cash flows from financing activities:

Exercise of options
-
18
36
296

Dividend distribution
-
-
(1,276)
-

Issuance of shares, net
-
-
-
9,312

Net cash provided by (used in) financing activities
-
18
(1,240)
9,608

Effect of translation adjustments
4
287
331
20

Net increase (decrease) in cash and cash equivalents
357
(973)
(5,094)
(1,703)

Cash and cash equivalents at the beginning of the period
2,124
8,548
7,575
9,278

Cash and cash equivalents at the end of the period
2,481
7,575
2,481
7,575

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Original: Eltek Ltd. Reports Full Year and Fourth Quarter 2026 Financial Results