Blue & White Chairman Benny Gantz said on Tuesday his party will consider its next moves when the final election results are in.
"We respect the voter's decision," Gantz told reporters outside of his Rosh HaAyin residence, adding that Prime Minister Netanyahu has yet to secure a 61-seat majority in the 120-strong Knesset needed to form a coalition government.
"The election results are slowly coming in and Netanyahu clearly doesn't have the 61 seats required to form a government."
We will examine our ways, follow the final results and see where we take it from there. We remain committed to the State of Israel and Israeli society."
When asked whether he had already spoken to Netanyahu after the publication of the exit poll results, the former IDF chief chose to ignore the answer.
Monday night, Gantz appeared to have accepted defeat after the exit results were published and told supporters in Tel Aviv that he shard their pain of disappointment.
He opened by telling supporters the current election cycle was one of the toughest in Israel's history and he shared their pain of defeat.
"I believe that when the final results come in, we will see that we continue to grow," he said at the party headquarters in Tel Aviv.
"I share with you the sense of pain and disappointment because this is not the result that will put Israel back on the right path."
But Blue & White MK Moshe Ya'alon was less circumspect, taking a shot at Benjamin Netanyahu's legal woes calling him "the accused" and saying he does not have the numbers in his right-wing bloc to form a government.
"Even after a nasty campaign of lies and going low - at this moment, the accused Netanyahu does not have the ability to form a government," Ya'alon, who previously served as the Likud leader's defense minister, wrote on Twitter.
"Blue and White was created to restore sanity to the country, to bring back the values with which we grew up and were educated in," he wrote.
"As such, we are united and determined to continue our path until we reach our goal, even if the road is long."