Financial Performance - Revenues for Q3 2024 were 13.5million,a1411.9 million in Q3 2023[6] - Gross profit for Q3 2024 was 3.5million,withagrossmarginof261.7 million, or 0.25perfullydilutedshare,comparedto2.1 million, or 0.36perfullydilutedshareinQ32023[7]−EBITDAforQ32024was2.3 million, representing 17% of revenues, down from 2.6millionor2235.8 million, compared to 34.4millioninthesameperiodof2023[9]−Operatingprofitforthefirstninemonthsof2024was4.0 million, down from 5.3millioninthefirstninemonthsof2023[9]−NetincomeforQ32024decreasedto1,712 million from 2,147millioninQ32023,representingadeclineof20.218.1 million, supporting the company's growth strategy[3] - Operating cash flow for the nine months ended September 30, 2024, was 4,530million,downfrom6,542 million in the same period last year, a decrease of 30.7%[26] - Total cash used in investing activities for the nine months ended September 30, 2024, was (14,582)million,comparedtoacashinflowof1,006 million in the same period of 2023[26] - Cash and cash equivalents at the end of Q3 2024 stood at 8,548million,adecreasefrom11,305 million at the end of Q3 2023[26] - Total assets as of September 30, 2024, were 58.8million,anincreasefrom47.2 million at the end of 2023[22] Expenses and Adjustments - Depreciation and amortization expenses increased to 388millioninQ32024from299 million in Q3 2023, an increase of 29.7%[26] - Stock-based compensation rose to 160millioninQ32024,comparedto72 million in Q3 2023, reflecting an increase of 122.2%[26] - The effect of translation adjustments resulted in a positive impact of 108millioninQ32024,comparedtoanegativeimpactof(228) million in Q3 2023[26] Inventory and Receivables - Trade receivables saw a significant decrease of (2,735)millioninQ32024,comparedtoanincreaseof985 million in Q3 2023[26] - The company experienced a decrease in inventories of (256)millioninQ32024,comparedtoadecreaseof(47) million in Q3 2023[26] Future Plans and Dividends - The company plans to open a new 15,000 sq. ft. manufacturing space by year-end 2024, including a full Solder Mask Application line[4] - Eltek's Board of Directors has adopted a dividend policy allowing for an annual distribution of up to 25% of net income starting from the end of 2024[5] - The company reported a net cash inflow from financing activities of 9,590millionfortheninemonthsendedSeptember30,2024,comparedtoanetoutflowof(3,020) million in the same period last year[26]
