The Q1 miss is severe: revenue and net income both collapsed, reversing prior-year profitability. While the company cites timing and temporary logistical issues, the cash burn and loss magnitude create near-term uncertainty. Monitor the Q2 2026 conference call for order backlog conversion updates and evidence of operational normalization. No debt is a buffer, but the back-to-back neutral reads followed by this miss suggests downside risk persists.
Price Chart
Executive Summary
Eltek reported a severe Q1 2026 earnings miss, swinging from a $1.0M net profit to a $2.9M net loss, with revenue declining 18% YoY to $10.4M. Operating results flipped from a $0.7M profit to a $3.3M loss, driven by adverse currency effects, logistical constraints, and a shifting order backlog. The company maintains no debt and $11.1M in cash, but the magnitude of the earnings deterioration is significant for a $54M market cap company.
Key Facts
- Revenue declined 18.2% YoY to $10.4M from $12.8M in Q1 2025
- Net loss of $2.9M ($0.42/sh) vs net income of $1.0M ($0.15/sh) in Q1 2025
- Gross loss of $1.9M vs gross profit of $2.2M (17% margins) in Q1 2025
- Operating loss of $3.3M vs operating profit of $0.7M in Q1 2025
- EBITDA loss of $2.7M vs EBITDA profit of $1.2M in Q1 2025
- Cash and short-term deposits of $11.1M, no outstanding debt
- Currency impact added ~$1.3M to reported operating expenses
- Order backlog grew, but execution timing shifted revenue out of the quarter
Financial Impact
Revenue fell $2.36M YoY, net income swung by $3.86M from +$1.0M to -$2.9M. For a $54M market cap, this represents an ~7% revenue decline-to-cap ratio and a ~5.4% net loss-to-cap ratio.
Risk Factors
- Shekel appreciation continues to pressure reported expenses
- Logistical constraints and security disruptions may persist
- Backlog conversion delays could push revenue further into H2 2026
- If operating losses continue, cash balance of $11.1M provides limited runway
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001178913-26-002791 |
| Document: zk2635364.htm | 0001178913-26-002791 |
| Document: 0001178913-26-002791-index-headers.html | 0001178913-26-002791 |
| Document: 0001178913-26-002791-index.html | 0001178913-26-002791 |
| Document: 0001178913-26-002791.txt | 0001178913-26-002791 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 6, 2026 20d ago | 6-K | $8.00 $7.51 | ▼ −6.19% | ▼ −6.05% | $6.59 (−17.62%) |
Sep 9, 2026 6w ago | 6-K | $8.15 $8.65 | ▲ +6.09% | ▲ +6.42% | $6.59 (−19.14%) |
Aug 18, 2026 9w ago | 6-K | $8.02 $8.00 | ▲ +0.25% | ▲ +0.05% | $6.59 (+17.83%) |
Aug 18, 2026 9w ago | Press Release | $8.02 $8.00 | ▲ +0.25% | ▲ +0.05% | $6.59 (+17.83%) |
Aug 11, 2026 10w ago | 6-K | $8.58 $8.02 | ▼ −6.52% | ▼ −6.11% | $6.59 (−23.19%) |
Jun 29, 2026 17w ago | 6-K | $9.50 $9.30 | ▼ −2.11% | ▼ −2.71% | $6.59 (−30.63%) |
May 19, 2026 22w ago | 6-K | $7.89 $8.74 | ▼ −10.77% | ▼ −8.48% | $6.59 (+16.48%) |
May 7, 2026 24w ago | 6-K | $8.24 $7.75 | ▼ −5.95% | ▼ −7.45% | $6.59 (−20.02%) |
Apr 1, 2026 29w ago | 6-K | $8.30 $7.93 | ▼ −4.46% | ▼ −8.22% | $6.59 (−20.60%) |
Mar 26, 2026 30w ago | 6-K | $8.34 $8.30 | ▼ −0.48% | ▼ −4.34% | $6.59 (−20.98%) |
US Market Status
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