ULBI · Ultralife Corp - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $47.45M | - | $43.37M | $48.56M | $50.75M | - | $35.69M | $42.98M | $41.93M | - |
| Cost of Revenue | $37.34M | - | $33.75M | $36.96M | $38.00M | - | $27.01M | $31.42M | $30.46M | - |
| Gross Profit | $10.11M | - | $9.62M | $11.60M | $12.74M | - | $8.68M | $11.56M | $11.47M | - |
| R&D | $2.96M | - | $2.85M | $2.32M | $2.40M | - | $2.10M | $2.00M | $1.76M | - |
| SG&A | $7.36M | - | $7.71M | $7.03M | $6.94M | - | $6.07M | $5.65M | $5.65M | - |
| Total Operating Expenses | $10.32M | - | $10.57M | $9.35M | $9.35M | - | $8.17M | $7.65M | $7.41M | - |
| D&A | $1.05M | - | $1.01M | $1.01M | $950.0K | - | $765.0K | $789.0K | $740.0K | - |
| Operating Income | ($215.0K) | - | ($951.0K) | $2.26M | $3.40M | - | $511.0K | $3.92M | $4.06M | - |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | ($192.0K) | - | ($504.0K) | $243.0K | $567.0K | - | $74.0K | $853.0K | $703.0K | - |
| Net Income | ($451.0K) | - | ($1.22M) | $879.0K | $1.86M | - | $258.0K | $2.97M | $2.89M | - |
| EPS - Basic | ($3.00) | - | ($0.07) | $0.05 | $0.02 | - | $0.02 | $0.21 | $0.21 | - |
| EPS - Diluted | ($3.00) | - | ($0.07) | $0.05 | $0.02 | - | $0.02 | $0.21 | $0.21 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $8.89M | $9.35M | $9.26M | $10.94M | $8.72M | $6.85M | $6.77M | $6.69M | $10.10M | $10.20M |
| Accounts Receivable | $34.43M | $33.95M | $30.93M | $32.32M | $36.06M | $29.37M | $27.75M | $31.05M | $35.28M | $31.76M |
| Inventory | $57.29M | $54.01M | $52.75M | $50.58M | $47.85M | $51.36M | $43.99M | $41.39M | $43.82M | $42.22M |
| Accounts Payable | $24.06M | $17.42M | $14.16M | $15.03M | $16.62M | $14.16M | $12.68M | $9.69M | $13.31M | $11.34M |
| Current Assets | $110.10M | $105.80M | $100.62M | $99.00M | $101.47M | $97.16M | $86.43M | $83.79M | $94.30M | $90.20M |
| Total Assets | $220.63M | $216.91M | $222.25M | $220.96M | $223.75M | $220.45M | $172.44M | $169.82M | $180.55M | $178.28M |
| Current Liabilities | $43.05M | $37.33M | $33.70M | $29.90M | $31.50M | $29.29M | $26.20M | $20.57M | $23.38M | $23.73M |
| Long-term Debt | $44.19M | $45.53M | $46.52M | $47.51M | $50.51M | $51.50M | $5.89M | $9.98M | $23.14M | $23.62M |
| Total Liabilities | $90.89M | $86.78M | $84.81M | $82.32M | $87.15M | $86.26M | $37.81M | $36.47M | $51.61M | $52.85M |
| Stockholders' Equity | $129.63M | $130.00M | $137.26M | $138.45M | $136.40M | $134.00M | $134.48M | $133.21M | $128.84M | $125.33M |
| Retained Earnings | ($40.79M) | ($40.34M) | ($32.92M) | ($31.70M) | ($32.58M) | ($34.44M) | ($34.64M) | ($34.89M) | ($37.86M) | ($40.75M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $2.26M | - | - | - | $3.37M | - | - | - | ($81.0K) | - |
| Investing Cash Flow | ($770.0K) | - | - | - | ($895.0K) | - | - | - | ($372.0K) | - |
| Financing Cash Flow | ($2.06M) | - | - | - | ($687.0K) | - | - | - | $185.0K | - |
| CapEx | $770.0K | - | - | - | $895.0K | - | - | - | $372.0K | - |
| Free Cash Flow | $1.49M | - | - | - | $2.47M | - | - | - | ($453.0K) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 21.3% | - | 22.2% | 23.9% | 25.1% | - | 24.3% | 26.9% | 27.4% | - |
| Operating margin | -0.5% | - | -2.2% | 4.6% | 6.7% | - | 1.4% | 9.1% | 9.7% | - |
| EBITDA margin | 1.8% | - | 0.1% | 6.7% | 8.6% | - | 3.6% | 10.9% | 11.5% | - |
| Net margin | -1.0% | - | -2.8% | 1.8% | 3.7% | - | 0.7% | 6.9% | 6.9% | - |
| Free cash flow margin | 3.1% | - | - | - | 4.9% | - | - | - | -1.1% | - |
| FCF / Net income | -3.29 | - | - | - | 1.33 | - | - | - | -0.16 | - |
| R&D / Revenue | 6.2% | - | 6.6% | 4.8% | 4.7% | - | 5.9% | 4.6% | 4.2% | - |
| SG&A / Revenue | 15.5% | - | 17.8% | 14.5% | 13.7% | - | 17.0% | 13.1% | 13.5% | - |
| Effective tax rate | - | - | - | 21.7% | 23.3% | - | 22.3% | 22.3% | 19.6% | - |
| Return on assets | -0.2% | - | -0.5% | 0.4% | 0.8% | - | 0.1% | 1.7% | 1.6% | - |
| Return on equity | -0.3% | - | -0.9% | 0.6% | 1.4% | - | 0.2% | 2.2% | 2.2% | - |
| Return on invested capital | -0.1% | - | -0.4% | 1.0% | 1.4% | - | 0.3% | 2.1% | 2.2% | - |
| Liquidity | ||||||||||
| Current ratio | 2.56 | 2.83 | 2.99 | 3.31 | 3.22 | 3.32 | 3.30 | 4.07 | 4.03 | 3.80 |
| Quick ratio | 1.23 | 1.39 | 1.42 | 1.62 | 1.70 | 1.56 | 1.62 | 2.06 | 2.16 | 2.02 |
| Cash ratio | 0.21 | 0.25 | 0.27 | 0.37 | 0.28 | 0.23 | 0.26 | 0.33 | 0.43 | 0.43 |
| Leverage | ||||||||||
| Debt / Equity | 0.34 | 0.35 | 0.34 | 0.34 | 0.37 | 0.38 | 0.04 | 0.07 | 0.18 | 0.19 |
| Debt / Assets | 0.20 | 0.21 | 0.21 | 0.22 | 0.23 | 0.23 | 0.03 | 0.06 | 0.13 | 0.13 |
| Debt / EBITDA | 52.67 | - | 816.11 | 14.56 | 11.61 | - | 4.61 | 2.12 | 4.82 | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 1.70 | 1.67 | 1.62 | 1.60 | 1.64 | 1.65 | 1.28 | 1.27 | 1.40 | 1.42 |
| Liabilities / Assets | 0.41 | 0.40 | 0.38 | 0.37 | 0.39 | 0.39 | 0.22 | 0.21 | 0.29 | 0.30 |
| Efficiency | ||||||||||
| Asset turnover | 0.22 | - | 0.20 | 0.22 | 0.23 | - | 0.21 | 0.25 | 0.23 | - |
| Inventory turnover | 0.65 | - | 0.64 | 0.73 | 0.79 | - | 0.61 | 0.76 | 0.70 | - |
| Days sales outstanding | 265d | - | 260d | 243d | 259d | - | 284d | 264d | 307d | - |
| Days inventory outstanding | 560d | - | 570d | 499d | 460d | - | 594d | 481d | 525d | - |
| Days payable outstanding | 235d | - | 153d | 148d | 160d | - | 171d | 113d | 160d | - |
| Cash conversion cycle | 590d | - | 678d | 594d | 559d | - | 707d | 632d | 673d | - |
| Valuation | ||||||||||
| P / E | - | - | - | 179.6x | 269.0x | - | 452.0x | 50.6x | 42.0x | - |
| P / B | 0.8x | - | 0.8x | 1.1x | 0.7x | - | 1.1x | 1.3x | 1.1x | - |
| P / S | 2.3x | - | 2.6x | 3.1x | 1.8x | - | 4.3x | 4.2x | 3.5x | - |
| EV / EBITDA | 171.5x | - | 2645.3x | 57.0x | 30.2x | - | 118.9x | 38.7x | 33.0x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -6.5% | - | 21.5% | 13.0% | 21.0% | - | -9.6% | 0.7% | 31.4% | - |
| Revenue CAGR (3y) | 14.1% | - | 9.3% | 14.8% | 18.7% | - | - | - | 17.5% | - |
| Revenue CAGR (5y) | 12.9% | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | -20.7% | - | 10.8% | 0.3% | 11.1% | - | -11.2% | 9.2% | 54.2% | - |
| Operating income growth (YoY) | - | - | - | -42.4% | -16.3% | - | -76.1% | 6.9% | 15526.9% | - |
| Net income growth (YoY) | - | - | - | -70.4% | -35.5% | - | -80.6% | -11.1% | - | - |
| EPS growth (YoY) | - | - | - | -76.2% | -90.5% | - | -90.5% | 0.0% | - | - |
| EPS CAGR (3y) | - | - | - | 18.6% | - | - | - | -65.2% | -62.6% | - |
| EPS CAGR (5y) | - | - | - | -65.3% | -22.2% | - | -19.7% | 16.0% | 47.6% | - |
| FCF growth (YoY) | -39.9% | - | - | - | - | - | - | - | 75.7% | - |
| FCF CAGR (5y) | -15.3% | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -5.0% | -3.0% | 2.1% | 3.9% | 5.9% | 6.9% | 10.6% | 11.4% | 10.8% | 7.8% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$191.16M totalBattery Energy Products Segment$178.04M · 93.1%
Communications Systems Segment$13.12M · 6.9%
Peer comparison
Same SIC group: Miscellaneous Electrical Machinery, Equipment & Supplies
Comparing ULTRALIFE CORP against the 5 most active filers in the same SIC group.