Eltek Ltd. (NASDAQ:ELTK) shares surged about 15% on Monday after the company said it had secured new purchase orders worth $12.2 million from a U.S. defense customer.
The printed circuit board maker said the orders will be fulfilled over 2026 and 2027 and relate to components destined for use in a defense program. The deal marks an important strategic milestone for the Israel-based group as it continues to build its presence in the U.S. market.
“We are particularly pleased with this win, as the customer is a U.S.-based client. This aligns with our strategic objective of expanding our presence in the U.S. market with high value-added products,” said Eli Yaffe, Chief Executive Officer of Eltek.
Eltek focuses on advanced, high-reliability printed circuit board solutions and has been increasingly targeting opportunities within the defense sector. The latest agreement highlights the company’s ability to secure sizable, multi-year projects with U.S. defense-related customers.
The sharp rise in Eltek’s share price reflects investor optimism around the company’s growth strategy, as well as the added revenue visibility provided by orders that extend into 2027.