NASDAQ · Financial Statements

Ultralife Corporation (ULBI) Financial Statements

$6.07 NASDAQ: ULBI Market Cap $101.15M

Ultralife Corporation most recently reported annual revenue of $191.0M, a net loss of $6.0M. Revenue grew at an average annual rate of 12.1% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Ultralife Corporation: Revenue rose from $82.0M in 2016 to $191.0M in 2025, a change of +132.9% over 9 years; net profit was positive in 7 of 10 reported years; operating margin was broadly flat at about 4.8%; the most recent year shows a net loss of $6.0M.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$82.0M$86.0M$87.0M$107.0M$108.0M$98.0M$132.0M$159.0M$164.0M$191.0M
Operating Expenses$79.0M$79.0M$81.0M$99.0M$102.0M$98.0M$132.0M$149.0M$154.0M$182.0M
Operating Profit$4.0M$6.0M$7.0M$7.0M$6.0M$0$0$9.0M$10.0M$9.0M
Operating Margin4.6%7.6%7.5%6.9%5.3%0.0%0.1%6.0%6.1%4.8%
Other Income$0$0$0$-1.0M$1.0M$0$-1.0M$0$-2.0M$-18.0M
Interest$0$0$0$1.0M$0$0$1.0M$2.0M$2.0M$4.0M
Depreciation$3.0M$2.0M$2.0M$3.0M$3.0M$4.0M$4.0M$4.0M$4.0M$5.0M
Profit Before Tax$4.0M$6.0M$7.0M$7.0M$7.0M$0$0$9.0M$8.0M$-8.0M
Tax$2.7M$-21.8M$-278.0M$21.5M$24.1M$-52.3M$73.1M$21.4M$22.8M$29.1M
Net Profit$4.0M$8.0M$25.0M$5.0M$5.0M$0$0$7.0M$6.0M$-6.0M
EPS$0.23$0.48$1.53$0.32$0.33$-0.01$-0.01$0.44$0.38$-0.35
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricSep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$39.0M$45.0M$42.0M$43.0M$36.0M$44.0M$51.0M$49.0M$43.0M$48.0M$47.0M$48.0M
Operating Expenses$37.0M$41.0M$38.0M$39.0M$35.0M$42.0M$47.0M$46.0M$44.0M$46.0M$48.0M$45.0M
Operating Profit$2.0M$4.0M$4.0M$4.0M$1.0M$1.0M$3.0M$2.0M$-1.0M$3.0M$0$3.0M
Operating Margin5.4%8.2%9.7%9.1%1.4%3.4%6.7%4.7%-2.2%5.7%-0.5%7.2%
Interest$1.0M$1.0M$1.0M$0$0$1.0M$1.0M$1.0M$1.0M$1.0M$1.0M$1.0M
Profit Before Tax$2.0M$3.0M$4.0M$4.0M$0$0$2.0M$1.0M$-2.0M$-10.0M$-1.0M$3.0M
Tax$25.5M$8.4M$19.5M$22.2M$21.0M$52.9M$23.2M$21.8M$28.8M$27.0M$29.0M$15.7M
Net Profit$1.0M$3.0M$3.0M$3.0M$0$0$2.0M$1.0M$-1.0M$-7.0M$0$3.0M
EPS$0.08$0.17$0.18$0.18$0.02$0.01$0.11$0.05$-0.07$-0.45$-0.03$0.15

Over the 10 years reported for Ultralife Corporation, cash stood at $9.0M in the latest year, shareholders' equity was $2.0M, current assets covered current liabilities 2.86 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$85.0M$97.0M$120.0M$145.0M$138.0M$160.0M$168.0M$178.0M$220.0M$217.0M
Current Assets$50.0M$62.0M$67.0M$70.0M$64.0M$67.0M$79.0M$90.0M$97.0M$106.0M
Cash$11.0M$18.0M$26.0M$7.0M$11.0M$8.0M$6.0M$10.0M$7.0M$9.0M
Inventory$23.0M$26.0M$23.0M$30.0M$28.0M$33.0M$41.0M$42.0M$51.0M$54.0M
Receivables$13.0M$15.0M$16.0M$30.0M$21.0M$20.0M$28.0M$32.0M$29.0M$34.0M
Fixed Assets$8.0M$8.0M$11.0M$23.0M$23.0M$26.0M$24.0M$25.0M$40.0M$40.0M
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$0$0$0$0$0$0$0$0$0$0
Other Assets$20.0M$20.0M$20.0M$27.0M$27.0M$38.0M$37.0M$38.0M$45.0M$45.0M
Total Liabilities$17.0M$18.0M$16.0M$35.0M$21.0M$42.0M$52.0M$53.0M$86.0M$87.0M
Current Liabilities$11.0M$14.0M$15.0M$17.0M$19.0M$19.0M$29.0M$24.0M$29.0M$37.0M
Borrowings$0$0$1.0M$19.0M$4.0M$23.0M$24.0M$29.0M$58.0M$50.0M
Other Liabilities$17.0M$18.0M$15.0M$16.0M$17.0M$18.0M$29.0M$24.0M$28.0M$37.0M
Equity$2.0M$2.0M$2.0M$2.0M$2.0M$2.0M$2.0M$2.0M$2.0M$2.0M
Reserves$68.0M$79.0M$105.0M$110.0M$117.0M$118.0M$116.0M$125.0M$134.0M$130.0M

For Ultralife Corporation, operating cash flow was positive in 8 of 10 reported years; free cash flow in the latest year was $7.0M; free cash flow was positive in 7 of 10 years.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$8.0M$7.0M$11.0M$-3.0M$22.0M$4.0M$-1.0M$2.0M$17.0M$11.0M
Investing Cash Flow$-12.0M$-3.0M$-13.0M$-38.0M$-6.0M$-29.0M$-3.0M$-5.0M$-52.0M$-8.0M
Financing Cash Flow$0$1.0M$1.0M$-1.0M$0$0$0$0$0$0
Net Cash Flow$-4.0M$8.0M$8.0M$-19.0M$3.0M$-2.0M$-3.0M$5.0M$-3.0M$2.0M
Free Cash Flow$6.0M$6.0M$7.0M$-9.0M$19.0M$2.0M$-3.0M$-1.0M$15.0M$7.0M

Valuation & Return Ratios

MetricValue
PEG Ratio0.07
EV / EBITDA-238.09
FCF Yield1.87%
Quick Ratio1.30
Interest Coverage1.38
Return 1Y-33.88%
Return 3Y13.20%
Return 5Y-31.06%

Ultralife Corporation (ULBI) financials — frequently asked questions

What is Ultralife Corporation's annual revenue?

Ultralife Corporation (ULBI) reported annual revenue of $191.0M in its most recent fiscal year.

What is Ultralife Corporation's net profit?

Ultralife Corporation (ULBI) reported a net loss of $6.0M in its most recent fiscal year.

What is ULBI EV/EBITDA?

Ultralife Corporation's enterprise value to EBITDA (EV/EBITDA) ratio is -238.09. A negative value means EBITDA was negative over the period, so the ratio is not a meaningful valuation measure.

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