SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
F O R M 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934
For the month of March, 2025
TAT TECHNOLOGIES LTD.
(Name of Registrant)
Hamelacha 5, Netanya 4250407, Israel
(Address of Principal Executive Office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ☐ No ☒
If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ____________
TAT Technologies Ltd.
6-K Items
| 1. |
Press Release dated March 26, 2025 re TAT Technologies Ltd. Reports 2024 Results.
|
ITEM 1
|
Press Release
|
Source: TAT Technologies Limited
|
TAT Technologies Grows Revenue by 34%, Net Income by 139%, and Adjusted EBITDA by 67% for the
full year of 2024
Company Delivers 9th Consecutive Quarter of Expanding Revenues
Netanya, Israel, March 26, 2025 - TAT Technologies Ltd. (NASDAQ: TATT - News) (“TAT” or the “Company”), a leading provider of products and services to the commercial and military aerospace and
ground defense industries, today reported its unaudited results for the three and 12 months ended December 31, 2024 (Q4’24).
Financial Highlights for the 12 Months Ended December 31, 2024:
| • |
Revenue increased by 34% to $152.1 million, compared to $113.8 million for the same period in 2023.
|
| • |
Gross profit increased by 47% to $33 million (21.7% of revenue) up from $22.5 million (19.7% of revenues) in the prior year.
|
| • |
Net lncome increased by 139% to $11.2 million, or $1.0 per diluted share, compared to $4.7 million, or $0.51 per diluted share, in 2023.
|
| • |
Adjusted EBITDA increased by 67% to $18.6 million, compared to $11.1 million in the prior year.
|
| • |
Cash flow from operations was negative ($5.8) million compared to a positive $2.3 million in 2023.
|
Mr. Igal Zamir, CEO and President of TAT Technologies commented: “TAT Technologies continues to deliver solid execution, marking our ninth consecutive quarter of revenue growth and improved
profitability. This positive momentum reflects the early impact of the strategic growth engines introduced over the past years, which we believe will continue to drive our results in the years ahead.”
“In the fourth quarter, we launched our strategic ‘Customer First’ initiative, which is our key goal for 2025,” continued Mr. Zamir. “Our commitment is to deliver exceptional customer service and
best-in-class performance, even as the industry continues to face supply chain challenges. As part of this effort, we strategically increased our parts and rotatable inventory in areas where the supply chain is unstable, anticipating continued
revenue growth in 2025. While this investment in inventory had a negative effect on our operational cash flow, it positions us to mitigate supply chain risks as we move forward”.
“Also in the fourth quarter, TAT won contracts and new orders totaling $47 million, increasing our backlog to a record high of $429 million, and validating our continued confidence in the company’s
growth trajectory,” added Mr. Zamir.
“In 2024, we expanded our engagement with the US and Israeli investors community, which contributed to a successful $10 million overnight capital raise and a 153% increase in our share price. We
remain optimistic about the outlook for 2025. In addition to pursuing continued revenue growth, we are advancing several initiatives to improve our operational efficiency and our cost structure, which we expect to begin delivering results during
2025”.
Non-GAAP Financial Measures
To supplement the consolidated financial statements presented in accordance with GAAP, the Company also presents Adjusted EBITDA. The adjustments to the Company’s GAAP results are made with the
intent of providing both management and investors a more complete understanding of the Company’s underlying operational results, trends and performance. Adjusted EBITDA is calculated as net income excluding the impact of: the Company's share in
results of affiliated companies, share-based compensation, taxes on income, financial (expenses) income, net, and depreciation and amortization. Adjusted EBITDA, however, should not be considered as alternative to net income and operating income
for the period and may not be indicative of the historic operating results of the Company; nor it is meant to be predictive of potential future results. Adjusted EBITDA is not measure of financial performance under generally accepted accounting
principles and may not be comparable to other similarly titled measures for other companies. See reconciliation of Adjusted EBITDA in pages 12 below.
Investor Call Information
TAT Technologies will host two webcasts to review its financial results and provide a business update, on Thursday, March 27, 2025, at 7:30 a.m. ET a call in Hebrew, followed by an additional call
at 8:30 a.m. ET in English. Interested investors can register for the webcast at the links below or visit the investor relations section of the Company’s website at https://tat-technologies.com/investors/.
| • |
Conference call in English
|
| • |
Conference call in Hebrew
|
2
About TAT Technologies LTD
TAT Technologies Ltd. is a leading provider of services and products to the commercial and military aerospace and ground defense industries. TAT operates under four segments: (i) Original
equipment manufacturing (“OEM”) of heat transfer solutions and aviation accessories through its Gedera facility; (ii) MRO services for heat transfer components and OEM of heat transfer solutions through its Limco subsidiary; (iii) MRO services
for aviation components through its Piedmont subsidiary; and (iv) Overhaul and coating of jet engine components through its Turbochrome subsidiary. TAT controlling shareholders is the FIMI Private Equity Fund.
TAT’s activities in the area of OEM of heat transfer solutions and aviation accessories primarily include the design, development and manufacture of (i) broad range of heat transfer solutions,
such as pre-coolers heat exchangers and oil/fuel hydraulic heat exchangers, used in mechanical and electronic systems on board commercial, military and business aircraft; (ii) environmental control and power electronics cooling systems installed
on board aircraft in and ground applications; and (iii) a variety of other mechanical aircraft accessories and systems such as pumps, valves, and turbine power units.
TAT’s activities in the area of MRO Services for heat transfer components and OEM of heat transfer solutions primarily include the MRO of heat transfer components and to a lesser extent, the
manufacturing of certain heat transfer solutions. TAT’s Limco subsidiary operates an FAA-certified repair station, which provides heat transfer MRO services for airlines, air cargo carriers, maintenance service centers and the military.
TAT’s activities in the area of MRO services for aviation components include the MRO of APUs, landing gears and other aircraft components. TAT’s Piedmont subsidiary operates an FAA-certified
repair station, which provides aircraft component MRO services for airlines, air cargo carriers, maintenance service centers and the military.
TAT’s activities in the area of overhaul and coating of jet engine components includes the overhaul and coating of jet engine components, including turbine vanes and blades, fan blades, variable
inlet guide vanes and afterburner flaps.
For more information of TAT Technologies Ltd., please visit our website:
www.tat-technologies.com
Contact:
Mr. Eran Yunger
Director of IR
3
TAT TECHNOLOGIES LTD.
CONSOLIDATED BALANCE SHEETS
U.S dollars in thousands
|
December 31,
|
||||||||
|
2024
|
2023
|
|||||||
|
ASSETS
|
||||||||
|
CURRENT ASSETS:
|
||||||||
|
Cash and cash equivalents
|
$
|
7,129
|
$
|
15,979
|
||||
|
Accounts receivable, net of allowance for credit losses of $400 and $345 thousand as of December 31, 2024 and 2023 respectively
|
29,697
|
20,009
|
||||||
|
Restricted deposit
|
-
|
661
|
||||||
|
Other current assets and prepaid expenses
|
7,848
|
6,397
|
||||||
|
Inventory
|
68,540
|
51,280
|
||||||
|
Total current assets
|
113,214
|
94,326
|
||||||
|
NON-CURRENT ASSETS:
|
||||||||
|
Restricted deposit
|
305
|
302
|
||||||
|
Investment in affiliates
|
2,901
|
2,168
|
||||||
|
Funds in respect of employee rights upon retirement
|
654
|
664
|
||||||
|
Deferred income taxes
|
877
|
994
|
||||||
|
Property, plant and equipment, net
|
41,576
|
42,554
|
||||||
|
Operating lease right of use assets
|
2,282
|
2,746
|
||||||
|
Intangible assets, net
|
1,553
|
1,823
|
||||||
|
Total non-current assets
|
50,148
|
51,251
|
||||||
|
Total assets
|
163,362
|
145,577
|
||||||
4
TAT TECHNOLOGIES LTD.
CONSOLIDATED BALANCE SHEETS
U.S dollars in thousands
|
December 31,
|
||||||||
|
2024
|
2023
|
|||||||
|
LIABILITIES AND SHAREHOLDERS 'EQUITY
|
||||||||
|
CURRENT LIABILITIES:
|
||||||||
|
Current maturities of long-term loans
|
$
|
2,083
|
$
|
2,200
|
||||
|
Short term loans
|
4,350
|
12,138
|
||||||
|
Accounts payable
|
12,158
|
9,988
|
||||||
|
Accrued expenses and other
|
18,594
|
13,952
|
||||||
|
Current maturities of operating lease liabilities
|
939
|
1,033
|
||||||
|
Total current liabilities
|
38,124
|
39,311
|
||||||
|
NON-CURRENT LIABILITIES:
|
||||||||
|
Long-term loans
|
10,938
|
12,886
|
||||||
|
Liability in respect of employee rights upon retirement
|
986
|
1,000
|
||||||
|
Operating lease liabilities
|
1,345
|
1,697
|
||||||
|
Total non-current liabilities
|
13,269
|
15,583
|
||||||
|
COMMITMENTS AND CONTINGENCIES (NOTE 11)
|
||||||||
|
Total liabilities
|
51,393
|
54,894
|
||||||
|
SHAREHOLDERS 'EQUITY:
|
||||||||
|
Ordinary shares of NIS 0 par value and NIS 0.9 par value at December 31, 2024 and at December 31, 2023 respectively:
Authorized: 13,000,000 shares at December 31, 2024 and at December 31, 2023; Issued: 11,214,831 and 10,377,085 shares at December 31, 2024 and at December 31, 2023 respectively;
Outstanding: 10,940,358 and 10,102,612 shares at December 31, 2024 and at December 31, 2023 respectively
|
-
|
3,140
|
||||||
|
Additional paid-in capital
|
89,697
|
76,335
|
||||||
|
Treasury shares, at cost, 274,473 shares at December 31, 2024 and 2023
|
(2,088
|
)
|
(2,088
|
)
|
||||
|
Accumulated other comprehensive income
|
(76
|
)
|
27
|
|||||
|
Retained earnings
|
24,436
|
13,269
|
||||||
|
Total shareholders' equity
|
111,969
|
90,683
|
||||||
|
Total liabilities and shareholders' equity
|
163,362
|
145,577
|
||||||
5
TAT TECHNOLOGIES LTD.
CONSOLIDATED STATEMENTS OF OPERATIONS
U.S dollars in thousands
|
Year ended December 31,
|
||||||||||||
|
2024
|
2023
|
2022
|
||||||||||
|
Revenue:
|
||||||||||||
|
Products
|
$
|
47,710
|
$
|
35,241
|
$
|
25,460
|
||||||
|
Services
|
104,406
|
78,553
|
59,096
|
|||||||||
|
152,116
|
113,794
|
84,556
|
||||||||||
|
Cost of revenue, net:
|
||||||||||||
|
Products
|
33,986
|
30,517
|
21,631
|
|||||||||
|
Services
|
85,116
|
60,809
|
46,997
|
|||||||||
|
119,102
|
91,326
|
68,628
|
||||||||||
|
Gross profit
|
33,014
|
22,468
|
15,928
|
|||||||||
|
Operating expenses:
|
||||||||||||
|
Research and development, net
|
1,248
|
715
|
479
|
|||||||||
|
Selling and marketing, net
|
7,746
|
5,523
|
5,629
|
|||||||||
|
General and administrative, net
|
11,901
|
10,588
|
9,970
|
|||||||||
|
Other income
|
(383
|
)
|
(433
|
)
|
(90
|
)
|
||||||
|
Restructuring expenses, net
|
-
|
1,715
|
||||||||||
|
20,512
|
16,393
|
17,703
|
||||||||||
|
Operating income (loss)
|
12,502
|
6,075
|
(1,775
|
)
|
||||||||
|
Interest expenses
|
(1,472
|
)
|
(1,683
|
)
|
(902
|
)
|
||||||
|
Other financial income (expenses), net
|
(477
|
)
|
353
|
1,029
|
||||||||
|
Income profit (loss) before taxes on income
|
10,553
|
4,745
|
(1,648
|
)
|
||||||||
|
Taxes on income
|
195
|
576
|
98
|
|||||||||
|
Profit (Loss) before share of equity investment
|
10,358
|
4,169
|
(1,746
|
)
|
||||||||
|
Share in profit of equity investment of affiliated companies
|
809
|
503
|
184
|
|||||||||
|
Net income (loss)
|
$
|
11,167
|
$
|
4,672
|
$
|
(1,562
|
)
|
|||||
6
TAT TECHNOLOGIES LTD. AND ITS SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
U.S dollars in thousands, except share and per share data
|
Year ended December 31,
|
||||||||||||
|
2024
|
2023
|
2022
|
||||||||||
|
Net income (loss)
|
$
|
11,167
|
$
|
4,672
|
$
|
(1,562
|
)
|
|||||
|
Net income (loss) per share basic
|
$
|
1.08
|
$
|
0.52
|
$
|
(0.175
|
)
|
|||||
|
Net income (loss) per share diluted
|
$
|
1.00
|
$
|
0.51
|
$
|
(0.175
|
)
|
|||||
| Weighted average number of shares outstanding: | ||||||||||||
| Basic |
10,363,978
|
8,961,689
|
8,911,546
|
|||||||||
|
Diluted
|
11,215,827
|
9,084,022
|
8,911,546
|
|||||||||
7
TAT TECHNOLOGIES LTD. AND ITS SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
U.S dollars in thousands
|
Year ended December 31,
|
||||||||||||
|
2024
|
2023
|
2022
|
||||||||||
|
Net income (loss)
|
$
|
11,167
|
$
|
4,672
|
$
|
(1,562
|
)
|
|||||
|
Other comprehensive income (loss), net
|
||||||||||||
|
Net unrealized gains (losses) from derivatives
|
(27
|
)
|
53
|
(89
|
)
|
|||||||
|
Change in foreign currency translation Adjustments
|
(76
|
)
|
-
|
-
|
||||||||
|
Reclassification adjustments for loss from derivatives included in net income
|
-
|
-
|
30
|
|||||||||
|
Total other comprehensive income (loss)
|
(103
|
)
|
53
|
(59
|
)
|
|||||||
|
Total comprehensive income (loss)
|
$
|
11,064
|
$
|
4,725
|
$
|
(1,621
|
)
|
|||||
8
TAT TECHNOLOGIES LTD. AND ITS SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS EQUITY
U.S dollars in thousands, except share data
|
Ordinary shares
|
Additional paid-in capital
|
Accumulated
other comprehensive income (loss)
|
Treasury shares
|
Retained earnings
|
Total equity
|
|||||||||||||||||||||||
|
Number of shares issued
|
Amount
|
|||||||||||||||||||||||||||
|
BALANCE AT DECEMBER 31, 2021
|
9,149,169
|
$
|
2,809
|
$
|
65,871
|
$
|
33
|
$
|
(2,088
|
)
|
$
|
10,159
|
$
|
76,784
|
||||||||||||||
|
CHANGES DURING THE YEAR ENDED DECEMBER 31, 2022:
|
||||||||||||||||||||||||||||
|
Comprehensive income
|
(59
|
)
|
-
|
(1,562
|
)
|
(1,621
|
)
|
|||||||||||||||||||||
|
Exercise of Options
|
36,850
|
33
|
156
|
189
|
||||||||||||||||||||||||
|
Share based compensation
|
218
|
218
|
||||||||||||||||||||||||||
|
BALANCE AT DECEMBER 31, 2022
|
9,186,019
|
$
|
2,842
|
$
|
66,245
|
$
|
(26
|
)
|
$
|
(2,088
|
)
|
$
|
8,597
|
$
|
75,570
|
|||||||||||||
|
CHANGES DURING THE YEAR ENDED DECEMBER 31, 2023:
|
||||||||||||||||||||||||||||
|
Comprehensive income
|
-
|
-
|
-
|
53
|
-
|
4,672
|
4,725
|
|||||||||||||||||||||
|
Exercise of Options
|
32,466
|
8
|
157
|
-
|
-
|
165
|
||||||||||||||||||||||
|
Issuance of common shares net of issuance costs of $141 thousands
|
1,158,600
|
290
|
9,774
|
-
|
-
|
10,064
|
||||||||||||||||||||||
|
Share based compensation
|
159
|
-
|
-
|
159
|
||||||||||||||||||||||||
|
BALANCE AT DECEMBER 31, 2023
|
10,377,085
|
$
|
3,140
|
$
|
76,335
|
$
|
27
|
$
|
(2,088
|
)
|
$
|
13,269
|
$
|
90,683
|
||||||||||||||
|
CHANGES DURING THE YEAR ENDED DECEMBER 31, 2024:
|
||||||||||||||||||||||||||||
|
Comprehensive income(loss)
|
-
|
-
|
-
|
(103
|
)
|
-
|
11,167
|
11,064
|
||||||||||||||||||||
|
Exercise of Options
|
164,406
|
12
|
(12
|
)
|
-
|
-
|
-
|
-
|
||||||||||||||||||||
|
Cancel of shares par value (see note 12a)
|
(3,152
|
)
|
3,152
|
-
|
-
|
-
|
-
|
|||||||||||||||||||||
|
Issuance of common shares net of issuance costs of $162 thousands
|
673,340
|
-
|
9,827
|
-
|
-
|
-
|
9,827
|
|||||||||||||||||||||
|
Share based compensation
|
-
|
395
|
-
|
-
|
-
|
395
|
||||||||||||||||||||||
|
BALANCE AT DECEMBER 31, 2024
|
11,214,831
|
-
|
$
|
89,697
|
$
|
(76
|
)
|
$
|
(2,088
|
)
|
$
|
24,436
|
$
|
111,969
|
||||||||||||||
9
TAT TECHNOLOGIES LTD. AND ITS SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
U.S. dollars in thousands
|
Year ended December 31,
|
||||||||||||
|
2024
|
2023
|
2022
|
||||||||||
|
CASH FLOWS FROM OPERATING ACTIVITIES:
|
||||||||||||
|
Net income (loss)
|
$
|
11,167
|
$
|
4,672
|
$
|
(1,562
|
)
|
|||||
|
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
|
||||||||||||
|
Depreciation and amortization
|
5,455
|
4,710
|
3,706
|
|||||||||
|
Loss (gain) from change in fair value of derivatives
|
22
|
(9
|
)
|
8
|
||||||||
|
Change in funds in respect of employee rights upon retirement
|
10
|
116
|
377
|
|||||||||
|
Net change in operating right of use asset and operating lease liability
|
18
|
22
|
(82
|
)
|
||||||||
|
Non cash financial expenses
|
(187
|
)
|
(172
|
)
|
(902
|
)
|
||||||
|
Decrease in restructuring plan provision
|
(63
|
)
|
(126
|
)
|
(467
|
)
|
||||||
|
Change in allowance for credit losses
|
55
|
(182
|
)
|
138
|
||||||||
|
Share in results of affiliated companies
|
(809
|
)
|
(503
|
)
|
(184
|
)
|
||||||
|
Share based compensation
|
395
|
159
|
218
|
|||||||||
|
Liability in respect of employee rights upon retirement
|
(14
|
)
|
(148
|
)
|
(356
|
)
|
||||||
|
Capital gain from sale of property, plant and equipment
|
(478
|
)
|
(530
|
)
|
(90
|
)
|
||||||
|
Deferred income taxes, net
|
117
|
235
|
23
|
|||||||||
|
Changes in operating assets and liabilities:
|
||||||||||||
|
Increase in trade accounts receivable
|
(9,743
|
)
|
(4,205
|
)
|
(2,659
|
)
|
||||||
|
Increase in other current assets and prepaid expenses
|
(1,473
|
)
|
(341
|
)
|
(1,836
|
)
|
||||||
|
Increase in inventory
|
(17,165
|
)
|
(5,400
|
)
|
(5,069
|
)
|
||||||
|
Increase (decrease) in trade accounts payable
|
2,170
|
(245
|
)
|
1,143
|
||||||||
|
Increase in accrued expenses and other
|
4,705
|
4,202
|
2,727
|
|||||||||
|
Net cash provided by (used in) operating activities from continued operation
|
$
|
(5,818
|
)
|
$
|
2,255
|
$
|
(4,867
|
)
|
||||
|
CASH FLOWS FROM INVESTING ACTIVITIES:
|
||||||||||||
|
Proceeds from sale of property and equipment
|
1,275
|
2,002
|
93
|
|||||||||
|
Purchase of property and equipment
|
(5,126
|
)
|
(5,102
|
)
|
(16,213
|
)
|
||||||
|
Purchase of intangible assets
|
-
|
(479
|
)
|
-
|
||||||||
|
Net cash used in investing activities from continued operations
|
$
|
(3,851
|
)
|
$
|
(3,579
|
)
|
$
|
(16,120
|
)
|
|||
10
TAT TECHNOLOGIES LTD. AND ITS SUBSIDIARIES
RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA (NON-GAAP) (UNAUDITED)
U.S. dollars in thousands
|
Year ended December 31,
|
||||||||||||
|
2024
|
2023
|
2022
|
||||||||||
|
CASH FLOWS FROM FINANCING ACTIVITIES:
|
||||||||||||
|
Repayments of long-term loans
|
(2,016
|
)
|
(1,701
|
)
|
(1,071
|
)
|
||||||
|
Net change in short term credit from banks
|
(7,650
|
)
|
1,000
|
-
|
||||||||
|
Proceeds from long-term loans received
|
-
|
712
|
16,680
|
|||||||||
|
Proceeds from issuance of common shares, net
|
9,827
|
10,064
|
-
|
|||||||||
|
Exercise of options
|
-
|
165
|
189
|
|||||||||
|
Net cash provided by financing activities from continued operations
|
$
|
161
|
$
|
10,240
|
$
|
15,798
|
||||||
|
Net increase (decrease) in cash and cash equivalents and restricted cash
|
(9,508
|
)
|
8,916
|
(5,189
|
)
|
|||||||
|
Cash and cash equivalents and restricted cash at beginning of period
|
16,942
|
8,026
|
13,215
|
|||||||||
|
Cash and cash equivalents and restricted cash at end of period
|
7,434
|
16,942
|
8,026
|
|||||||||
|
SUPPLEMENTARY INFORMATION ON INVESTING ACTIVITIES NOT INVOLVING CASH FLOW:
|
||||||||||||
|
Purchase of property, plant and equipment on credit
|
-
|
-
|
196
|
|||||||||
|
Additions of operating lease right-of-use assets and operating lease liabilities
|
983
|
1,345
|
318
|
|||||||||
|
Reclassification of inventory to property, plant and equipment
|
155
|
68
|
284
|
|||||||||
|
Capital contribution to equity method investee
|
-
|
-
|
787
|
|||||||||
|
Supplemental disclosure of cash flow information:
|
||||||||||||
|
Interest paid
|
(1,400
|
)
|
(1,438
|
)
|
(796
|
)
|
||||||
|
Income taxes received (paid), net
|
$
|
(39
|
)
|
$
|
-
|
$
|
-
|
|||||
11
TAT TECHNOLOGIES LTD. AND ITS SUBSIDIARIES
RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA (NON-GAAP) (UNAUDITED)
U.S. dollars in thousands
|
Year ended
|
||||||||
|
December 31,
|
||||||||
|
2024
|
2023
|
|||||||
|
Net income
|
$
|
11,167
|
$
|
4,672
|
||||
|
Adjustments:
|
||||||||
|
Share in results and sale of equity
|
||||||||
|
investment of affiliated companies
|
(809
|
)
|
(503
|
)
|
||||
|
Taxes on income (tax benefit)
|
195
|
576
|
||||||
|
Financial expenses (income), net
|
1,949
|
1,330
|
||||||
|
Depreciation and amortization
|
5,717
|
4,902
|
||||||
|
Share based compensation
|
395
|
159
|
||||||
|
Adjusted EBITDA
|
$
|
18,614
|
$
|
11,136
|
||||
12
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
| TAT TECHNOLOGIES LTD. | |||
| (Registrant) | |||
|
By:
|
/s/ Ehud Ben-Yair | ||
| Name: | Ehud Ben-Yair | ||
| Title: | Chief Financial Officer | ||
Date: March 26, 2025