ULBI
Ultralife Corporation5.79
+0.04+0.7%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Targets: 2x GDP growth, $25M Comm baseline
Q&A spotlighted targets missing from prepared remarks: minimum 2x GDP organic growth and over 10% short-term EBITDA margins, with long-term upside. Communications Systems baseline revenue pegged at $25 million, primed for breakouts like Joint Fires. A seven-year medical OEM battery project yields six-figure annual revenue starting mid-2026. Baseline: $25 million for Comm. Management directly fielded queries on growth framing and ramps, projecting debt paydown before next deals. Investors watch Comm rebound execution.
Key Stats
Market Cap
96.40MP/E (TTM)
57.90Basic EPS (TTM)
0.10Dividend Yield
0%Recent Filings
8-K
Q3 sales up 21.5%, loss on costs
Ultralife reported Q3 sales of $43.4 million, up 21.5% year-over-year thanks to Electrochem, though organic growth was 2.5%. Gross margins slipped to 22.2% from supply chain woes; operating loss hit $1.0 million after $1.1 million in one-time costs, including $0.5 million to shutter Calgary facility by Q1 2026 for ~$0.8 million annual savings. Backlog climbed to $90.1 million. Adjusted EBITDA steady at $2.0 million.
10-Q
Q3 FY2025 results
Ultralife's Q3 revenues jumped 21.5% y/y to $43.4M, fueled by Electrochem's $6.8M contribution post its Oct 2024 close for $48.0M cash, recognizing $7.6M goodwill and $10.5M finite-lived intangibles (15-year life). Gross margin slipped to 22.2% from 24.3%, hit by product mix and component quality issues, driving a $0.9M operating loss versus $0.5M income. YTD, revenues rose 18.3% to $142.7M with $1.5M net income ($0.09/share, anti-dilution flagged); operating cash flow generated $9.5M, funding $3.0M capex while trimming debt to $50.3M term loan (6.62% rate, covenant compliant). Cash hit $9.3M. Battery & Energy Products (93% revenue) dominates growth. Key customer reliance poses risks.
8-K
Auditor switch due to acquisition
Ultralife Corporation replaced its auditor Freed Maxick with Withum Smith+Brown on August 22, 2025, triggered by Withum's acquisition of Freed Maxick's assets. No disagreements or reportable events occurred; prior audits were clean but flagged a material weakness in internal controls for 2024. Withum engaged immediately for fiscal 2025. Smooth handover.
10-Q
Q2 FY2025 results
Ultralife's Q2 revenues hit $48.6M, up 13.0% y/y from $43.0M, fueled by Electrochem's $9.3M contribution while Communications Systems dropped 57%. Gross margin slipped to 23.9% from 26.9% on product mix and tariffs; operating income fell to $2.3M from $3.9M as expenses rose 22% with acquisition integration. Diluted EPS landed at $0.05, matching basic amid low dilution from fewer in-the-money options. Cash climbed to $10.9M with $9.3M operating cash flow less $2.0M capex yielding $7.3M FCF (derived); debt at $51.6M term loan (6.79%, due 2029), full covenant compliance. Electrochem closed Oct 2024 for $48.0M cash, adding $7.6M goodwill and $10.5M intangibles (15-year life). Battery & Energy Products drove 94% of sales. Reliance on key customers poses risks.
8-K
Q2 sales up, profits down
Ultralife reported Q2 sales of $48.6M, up 13% from $43.0M last year, driven by Electrochem acquisition, but Communications Systems plunged 57% to $2.7M on delayed orders. Gross margin held flat at $11.6M yet slipped to 23.9%; operating income fell to $2.3M amid tariffs and mix shifts. Backlog dipped to $89M. Rebound eyed in H2.
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