ELTEK LTD

Eltek Ltd. announced that Mr. Gad Dovev will resign from its Board of Directors, effective August 1, 2026. Mr. Dovev, who chairs the Audit and Compensation Committees, cited personal reasons for his departure, confirming no disagreements with the company. Concurrently, Ms. Ilana Lurie, a current member of both committees, has been elected to serve as Chairperson of the Audit Committee and the Compensation Committee, effective immediately.

Eltek Ltd. reported a net loss of $2.9 million, or $0.42 per diluted share, on revenues of $10.4 million for the first quarter of 2026. This compares to a net income of $1.0 million and revenues of $12.8 million in the first quarter of 2025. The company attributed the adverse results to the sharp depreciation of the U.S. dollar against the Israeli shekel, which increased operating expenses by approximately $1.3 million, as well as a challenging security environment, temporary logistical constraints, and late phasing of its order backlog. Despite the poor quarterly performance, the CEO noted significant growth in the order backlog and anticipated gradual improvement in logistical challenges.

Eltek Ltd. announced it will release its first quarter 2026 financial results before the market opens on Tuesday, May 19, 2026. The company will host a conference call on the same day at 8:30 a.m. Eastern Time to discuss the results, featuring remarks from CEO Eli Yaffe and CFO Ron Freund. Details for participating in the call and accessing the replay were provided.