Eltek secures $5.3M order as backlog surges 100% amid Q1 logistic headwinds

Eltek (NASDAQ:ELTK) reported a significant expansion of its sales pipeline on Wednesday, April 1, 2026, announcing new purchase orders totaling approximately $5.3 million from a major international customer.

The contract marks a substantial win for the Israel-based manufacturer of high-end printed circuit boards (PCBs), with deliveries scheduled to commence in the second quarter of 2026 and conclude by September 2027.

The new orders contribute to a period of unprecedented demand for Eltek’s specialized electronic solutions.

The company confirmed that its total backlog has approximately doubled compared to levels seen at the end of 2025.

This surge in orders underscores the robust demand within the aerospace, defense, and medical sectors for Eltek’s rigid and rigid-flex PCB technology.

However, management provided a cautious update regarding near-term profitability.

Eltek expects its first-quarter 2026 operating results to be adversely affected by a combination of less favorable backlog fulfillment and unexpected logistic issues.

These challenges have temporarily hampered the company's ability to convert its record order book into immediate revenue.

Despite these short-term hurdles, leadership remains optimistic about the remainder of the fiscal year.

Management noted that they expect a gradual normalization of deliveries as supply chain and logistic disruptions are addressed throughout the second and third quarters.