ULBI

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Ultralife Corp.

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Key Metrics

Previous Close: $7.00
52-Week Range: $4.90 – $8.25
Market Cap: $114.14M
P/E (TTM): —
EPS (TTM): -0.38
Dividend Yield: —

Advanced Metrics

Price/Book: 0.88
PEG Ratio: 3.81
Return on Equity: -4.91%
Return on Assets: 2.10%
Gross Margin: 24.38%
Operating Margin: 9.01%
Profit Margin: -3.50%
Current Ratio: 2.87
Debt/Equity: 0.36
Total Debt: $47.51M
Free Cash Flow: $2.34M
Revenue Growth: -1.30%
Earnings Growth: 200.00%
Enterprise Value: $155.08M

ULBI Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$131.84M	$158.64M	$164.46M	$191.16M
Cost of Revenue	$102.44M	$119.44M	$122.14M	$145.14M
Gross Profit	$29.40M	$39.20M	$42.31M	$46.02M
Research & Development	$7.08M	$7.53M	$8.27M	$10.40M
Selling, General & Admin	$22.19M	$22.19M	$24.08M	$29.34M
Operating Expenses	$29.27M	$29.73M	$32.35M	$39.74M
Operating Income	$129.00K	$9.47M	$9.96M	$6.28M
EBITDA	$4.96M	$15.04M	$14.40M	$1.05M
Pretax Income	-$446.00K	$9.12M	$8.30M	-$8.40M
Income Tax	-$326.00K	$1.95M	$1.89M	-$2.45M
Net Income	-$119.00K	$7.20M	$6.31M	-$5.90M
Diluted EPS	-0.01	0.44	0.38	-0.35
Diluted Shares	16.13M	16.23M	16.77M	16.64M

ULBI Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$5.63M	$10.20M	$6.85M	$9.35M
Receivables	$27.78M	$31.76M	$29.37M	$33.95M
Inventory	$41.19M	$42.22M	$51.36M	$54.01M
Current Assets	$78.99M	$90.20M	$97.16M	$105.80M
Total Assets	$168.43M	$178.28M	$220.45M	$216.91M
Current Liabilities	$28.91M	$23.73M	$29.29M	$37.33M
Long-Term Debt	$19.31M	$23.62M	$51.50M	$45.53M
Total Debt	$21.31M	$25.62M	$54.25M	$49.65M
Total Liabilities	$52.03M	$52.85M	$86.26M	$86.78M
Retained Earnings	-$47.95M	-$40.75M	-$34.44M	-$40.34M
Shareholders' Equity	$116.28M	$125.33M	$134.00M	$130.00M
Working Capital	$50.08M	$66.47M	$67.87M	$68.47M
Net Debt	$15.68M	$15.43M	$47.40M	$40.31M

ULBI Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$1.26M	$1.93M	$16.64M	$10.99M
Capital Expenditure	-$1.68M	-$2.55M	-$1.93M	-$3.87M
Free Cash Flow	-$2.94M	-$623.00K	$14.70M	$7.12M
Depreciation & Amortisation	$4.46M	$3.91M	$4.16M	$5.50M
Stock-Based Compensation	$776.00K	$528.00K	$698.00K	$935.00K
Investing Cash Flow	-$1.68M	-$2.55M	-$49.95M	-$3.87M
Financing Cash Flow	$518.00K	$5.49M	$29.86M	-$4.68M
Net Change in Cash	-$2.42M	$4.87M	-$3.46M	$2.44M

ULBI Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$50.75M	$48.56M	$43.37M	$48.48M	$47.45M
Cost of Revenue	$38.00M	$36.96M	$33.75M	$36.42M	$37.34M
Gross Profit	$12.74M	$11.60M	$9.62M	$12.06M	$10.11M
Research & Development	$2.40M	$2.32M	$2.85M	$2.82M	$2.96M
Selling, General & Admin	$6.94M	$7.03M	$7.71M	$7.66M	$7.36M
Operating Expenses	$9.35M	$9.35M	$10.57M	$10.48M	$10.32M
Operating Income	$3.40M	$2.26M	-$951.00K	$1.57M	-$215.00K
EBITDA	$4.83M	$3.52M	$660.00K	-$7.96M	$1.53M
Pretax Income	$2.45M	$1.11M	-$1.75M	-$10.21M	-$663.00K
Income Tax	$567.00K	$243.00K	-$504.00K	-$2.75M	-$192.00K
Net Income	$1.86M	$879.00K	-$1.22M	-$7.42M	-$451.00K
Diluted EPS	0.11	0.05	-0.07	-0.45	-0.03
Diluted Shares	16.68M	16.66M	16.65M	16.65M	16.66M

ULBI Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$8.72M	$10.94M	$9.26M	$9.35M	$8.89M
Receivables	$36.06M	$32.32M	$30.93M	$33.95M	$34.43M
Inventory	$47.85M	$50.58M	$52.75M	$54.01M	$57.29M
Current Assets	$101.47M	$99.00M	$100.62M	$105.80M	$110.10M
Total Assets	$223.75M	$220.96M	$222.25M	$216.91M	$220.63M
Current Liabilities	$31.50M	$29.90M	$33.70M	$37.33M	$43.05M
Long-Term Debt	$50.51M	$47.51M	$46.52M	$45.53M	$44.19M
Total Debt	$53.60M	$50.95M	$50.30M	$49.65M	$47.63M
Total Liabilities	$87.15M	$82.32M	$84.81M	$86.78M	$90.89M
Retained Earnings	-$32.58M	-$31.70M	-$32.92M	-$40.34M	-$40.79M
Shareholders' Equity	$136.40M	$138.45M	$137.26M	$130.00M	$129.63M
Working Capital	$69.97M	$69.11M	$66.92M	$68.47M	$67.05M
Net Debt	$44.88M	$40.01M	$41.04M	$40.31M	$38.74M

ULBI Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	$3.37M	$5.93M	$198.00K	$1.49M	$2.26M
Capital Expenditure	-$895.00K	-$1.10M	-$995.00K	-$882.00K	-$770.00K
Free Cash Flow	$2.47M	$4.83M	-$797.00K	$607.00K	$1.49M
Depreciation & Amortisation	$1.35M	$1.42M	$1.42M	$1.31M	$1.32M
Stock-Based Compensation	$227.00K	$235.00K	$236.00K	$237.00K	-$1.00K
Investing Cash Flow	-$895.00K	-$1.10M	-$991.00K	-$886.00K	-$770.00K
Financing Cash Flow	-$687.00K	-$2.65M	-$651.00K	-$687.00K	-$2.06M
Net Change in Cash	$1.79M	$2.18M	-$1.44M	-$84.00K	-$577.00K

Market Snapshot

About

Ultralife Corp. is a manufacturer of custom-engineered battery and energy products for military, government, and commercial customers. The company provides rechargeable and non-rechargeable batteries, charging systems, and communications and electronics systems. Ultralife serves defense, medical, and industrial markets with power solutions and communication systems.