Eltek Ltd. Reports 2025 Third Quarter Financial Results
Rhea-AI Summary
Eltek (NASDAQ: ELTK) reported Q3 2025 revenues of $13.3M and a nine‑month revenue of $38.6M. Q3 gross profit was $1.6M (12% margin) vs $3.5M (26%) in Q3 2024. Q3 operating income fell to $0.05M and net loss was $0.2M (‑$0.03/share); EBITDA was $0.6M (5% of revenues). Year‑to‑date net profit was $1.1M versus $4.2M last year. Management cited a sharp depreciation of the US dollar versus the Israeli shekel as a material drag on profitability and said defense sales were ~63% of quarterly revenue. Cash and short‑term deposits were $11.6M. The company is preparing a new production hall for coating line installation to support manufacturing expansion.
Positive
- Nine‑month revenue +8% YoY to $38.6M
- Defense sales ~63% of Q3 revenue
- Cash and short‑term deposits of $11.6M
- New production hall nearing completion to expand capacity
Negative
- Q3 gross profit down to $1.6M (12% margin) from $3.5M (26%)
- Q3 EBITDA fell to $0.6M (5% of revenue) from $2.3M (17%)
- Q3 net loss of $0.2M versus net income of $1.7M in Q3 2024
- Currency losses: financial expenses increased due to US dollar erosion vs NIS
News Market Reaction
On the day this news was published, ELTK declined 20.00%, reflecting a significant negative market reaction. Argus tracked a trough of -12.1% from its starting point during tracking. Our momentum scanner triggered 4 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $16M from the company's valuation, bringing the market cap to $65M at that time. Trading volume was elevated at 2.5x the daily average, suggesting increased selling activity.
Data tracked by StockTitan Argus on the day of publication.
PETACH TIKVA,
Third Quarter 202 5 Highlights
- Revenues were
$13.3 million $13.5 million - Operating income was
$0.05 million $1.9 million - Net loss was
$0.2 million $0.03 - As of September 30, 2025, cash, cash equivalents and short-term deposits amounted
$11.6 million
"The Company reported third-quarter sales of
Mr. Yaffe continued: "Gross profit for the quarter was
Mr. Yaffe concluded: "We are in the final stages of preparing the new production hall for the installation and commissioning of the coating lines—an important milestone in expanding our manufacturing infrastructure and supporting Eltek's long-term growth objectives."
Third Quarter 2025 GAAP Financial Results
Revenues for the third quarter of 2025 were
Gross profit for the third quarter of 2025 was
Operating income for the third quarter of 2025 was
Financial expenses for the third quarter of 2025 were
Net loss for the third quarter of 2025 was
Third Quarter 2025 Non-GAAP Financial Results
EBITDA for the third quarter of 2025 was
First Nine Months 2025 GAAP Financial Results
Revenues for the first nine months of 2025 were
Gross profit for the first nine months of 2025 was
Operating profit for the first nine months of 2025 was
Financial expenses for the first nine months of 2025 were
Net profit for the first nine months of 2025 was
First Nine Months 2025 Non-GAAP Financial Results
EBITDA for the first nine months of 2025 was a
About our Non-GAAP Financial Information
The Company reports financial results in accordance with
Conference Call
Today, Tuesday, November 18, 2025, at 9:00am Eastern Time (16:00pm Israel Time, 6:00am 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:
International: +972-3-918-0691
To Access a Replay of the Call
A 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 Eltek
Eltek – "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
Eltek was founded in 1970. The Company's headquarters, R&D, production and marketing center are located in
For more information, visit Eltek's web site at www.nisteceltek.com
Forward Looking Statement
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 Contact
Ron Freund
Chief Financial Officer
Investor-Contact@nisteceltek.com
+972-3-939-5023
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Eltek Ltd. |
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Consolidated Statements of Income |
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Three months ended |
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Nine months ended |
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September 30, |
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September 30, |
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2025 |
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2024 |
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2025 |
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2024 |
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Revenues |
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13,267 |
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13,520 |
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38,552 |
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35,769 |
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Costs of revenues |
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(11,671) |
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(10,003) |
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(31,725) |
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(27,364) |
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Gross profit |
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1,596 |
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3,517 |
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6,827 |
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8,405 |
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Research and development expenses, net |
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- |
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(17) |
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(50) |
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(79) |
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Selling, general and administrative expenses |
|
1,546 |
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(1,592) |
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(4,546) |
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(4,292) |
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Operating income |
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50 |
|
1,908 |
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2,231 |
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4,034 |
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Financial income (expense), net |
|
(287) |
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137 |
|
(795) |
|
976 |
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Income (loss) before income tax |
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(237) |
|
2,045 |
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1,436 |
|
5,010 |
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Income tax expenses (tax benefit) |
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(6) |
|
333 |
|
300 |
|
808 |
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|
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Net income (loss) |
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(231) |
|
1,712 |
|
1,136 |
|
4,202 |
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Earnings per share: |
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Basic net income (loss) per ordinary share |
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(0.03) |
|
0.26 |
|
0.17 |
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0.64 |
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Diluted net income (loss) per ordinary share |
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(0.03) |
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0.25 |
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0.17 |
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0.63 |
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Weighted average number of ordinary shares used to compute |
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basic net income (loss) per ordinary share (in thousands) |
|
6,719 |
|
6,710 |
|
6,716 |
|
6,597 |
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Weighted average number of ordinary shares used to compute |
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diluted net income (loss) per ordinary share (in thousands) |
|
6,796 |
|
6,768 |
|
6,789 |
|
6,675 |
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Eltek Ltd. |
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Consolidated Balance Sheets |
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September 30, |
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December 31, |
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2025 |
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2024 |
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Assets |
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Current assets: |
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Cash and cash equivalents |
|
2,124 |
|
7,575 |
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Short-term bank deposits |
|
9,514 |
|
9,663 |
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|
|
|
|
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Trade receivables (net of allowance for credit losses) |
|
14,196 |
|
11,786 |
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|
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|
|
|
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Inventories |
|
12,358 |
|
9,488 |
|
|
|
|
|
|
|
Other accounts receivable and prepaid expenses |
|
405 |
|
602 |
|
|
|
|
|
|
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|
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|
|
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Total current assets |
|
38,597 |
|
39,114 |
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Long term assets: |
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Severance pay fund |
|
62 |
|
56 |
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Deferred tax assets, net |
|
288 |
|
496 |
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Operating lease right of use assets |
|
6,304 |
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5,911 |
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Total long term assets |
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6,654 |
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6,463 |
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Property and equipment, net |
|
19,805 |
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14,578 |
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Total Assets |
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65,056 |
|
60,155 |
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Liabilities and Shareholder's equity |
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Current liabilities: |
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Trade payables |
|
6,843 |
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7,367 |
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Other accounts payable and accrued expenses |
|
5,779 |
|
5,136 |
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|
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Short-term operating lease liabilities |
|
1,070 |
|
827 |
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Total current liabilities |
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13,692 |
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13,330 |
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Long-term liabilities: |
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Accrued severance pay |
|
559 |
|
443 |
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Long-term operating lease liabilities |
|
5,353 |
|
5,190 |
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Total long-term liabilities |
|
5,912 |
|
5,633 |
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Shareholders' equity: |
|
|
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|
|
|
|
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Ordinary shares of |
|
6,012 |
|
6,011 |
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|
|
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Additional paid-in capital |
|
32,662 |
|
32,627 |
|
|
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|
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Foreign currency translation adjustments |
|
4,627 |
|
664 |
|
|
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Capital reserve |
|
2,908 |
|
2,507 |
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|
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Accumulated deficit |
|
(757) |
|
(617) |
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Total shareholders' equity |
|
45,452 |
|
41,192 |
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|
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Total liabilities and shareholders' equity |
|
65,056 |
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60,155 |
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Eltek Ltd. |
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Unaudited Non-GAAP EBITDA Reconciliations |
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Three months ended |
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Nine months ended |
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||||
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September 30, |
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September 30, |
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||||
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2025 |
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2024 |
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2025 |
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2024 |
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GAAP net income (loss) |
|
(231) |
|
1,712 |
|
1,136 |
|
4,202 |
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Add back items: |
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|
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|
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|
|
|
|
|
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Financial expenses (income), net |
|
287 |
|
(137) |
|
795 |
|
(976) |
|
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Income tax expenses (benefit) |
|
(6) |
|
333 |
|
300 |
|
808 |
|
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Depreciation and amortization |
|
563 |
|
388 |
|
1,530 |
|
1,141 |
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Non-GAAP EBITDA |
|
613 |
|
2,296 |
|
3,761 |
|
5,175 |
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Eltek Ltd. |
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Consolidated Statement of Cash flow |
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Three months ended |
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Nine months ended |
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September 30, |
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September 30, |
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2025 |
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2024 |
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2025 |
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2024 |
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Cash flows from operating activities: |
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|
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|
Net Income (loss) |
|
(231) |
|
1,712 |
|
1,136 |
|
4,202 |
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|
|
Adjustments to reconcile net income to net cash flows |
|
|
|
|
|
|
|
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|
provided by operating activities: |
|
|
|
|
|
|
|
|
|
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Depreciation |
|
563 |
|
388 |
|
1,530 |
|
1,141 |
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Unrealized financing expenses (income), net |
|
11 |
|
115 |
|
477 |
|
(71) |
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Share-based compensation |
|
131 |
|
160 |
|
401 |
|
446 |
|
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Decrease in deferred tax assets |
|
27 |
|
313 |
|
229 |
|
404 |
|
|
|
|
|
732 |
|
976 |
|
2,637 |
|
1,920 |
|
|
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|
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Decrease (increase) in operating lease right-of-use assets |
|
19 |
|
1 |
|
19 |
|
4 |
|
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Decrease (increase) in trade receivables |
|
626 |
|
(2,735) |
|
(1,107) |
|
(2,218) |
|
|
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Decrease (increase) in other receivables and prepaid expenses |
|
(10) |
|
292 |
|
237 |
|
601 |
|
|
|
Decrease (increase) in inventories |
|
857 |
|
(256) |
|
(1,755) |
|
(821) |
|
|
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Increase (decrease) in trade payables |
|
(137) |
|
1,087 |
|
(2,137) |
|
551 |
|
|
|
Increase (decrease) in other liabilities and accrued expenses |
|
127 |
|
538 |
|
99 |
|
289 |
|
|
|
Increase (decrease) in employee severance benefits, net |
|
19 |
|
32 |
|
65 |
|
2 |
|
|
|
|
|
1,501 |
|
(1,041) |
|
(4,579) |
|
(1,592) |
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|
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Net cash provided by (used in) operating activities |
|
2,002 |
|
1,647 |
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(806) |
|
4,530 |
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Cash flows from investing activities: |
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Purchase of fixed assets |
|
(1,386) |
|
(1,967) |
|
(4,266) |
|
(7,914) |
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Withdrawal of (investment in) short-term bank deposits, net |
|
- |
|
(134) |
|
534 |
|
(6,668) |
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|
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Net cash used in investing activities |
|
(1,386) |
|
(2,101) |
|
(3,732) |
|
(14,582) |
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Cash flows from financing activities: |
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|
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|
|
|
|
|
|
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Exercise of options |
|
28 |
|
17 |
|
36 |
|
278 |
|
|
|
Dividend distribution |
|
- |
|
- |
|
(1,276) |
|
- |
|
|
|
Issuance of shares, net |
|
- |
|
- |
|
- |
|
9,312 |
|
|
|
Net cash provided by (used in) financing activities |
|
28 |
|
17 |
|
(1,240) |
|
9,590 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effect of translation adjustments |
|
(290) |
|
108 |
|
327 |
|
(268) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in cash and cash equivalents |
|
354 |
|
(329) |
|
(5,451) |
|
(730) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at the beginning of the period |
|
1,770 |
|
8,877 |
|
7,575 |
|
9,278 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at the end of the period |
|
2,124 |
|
8,548 |
|
2,124 |
|
8,548 |
|
|
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View original content:https://www.prnewswire.com/news-releases/eltek-ltd-reports-2025-third-quarter-financial-results-302618493.html
SOURCE Eltek Ltd.
FAQ
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