ULTRALIFE CORP ULBI

Technology SIC 3690 - Miscellaneous Electrical Machinery, Equipment & Supplies NAICS Manufacturing › Electrical Equipment, Appliance, and Component Manufacturing › Other Electrical Equipment and Component Manufacturing derived Nasdaq

We offer products and services ranging from power solutions to communications and electronics systems to customers across the globe in the government, defense and commercial sectors. With an emphasis on strong engineering and a collaborative approach to problem solving, we design and manufacture power and communications systems including rechargeable and non-rechargeable batteries, charging systems, communications and electronics systems and accessories, and custom engineered systems related to those product lines. We continually evaluate ways to grow, including the design, development and sale of new products, expansion of our sales force to penetrate new markets and territories, as well as seeking opportunities to expand through acquisitions.

Last close 6.07 2026-10-23
Market cap —
52-week range 4.90 - 8.25

Valuation FY2025 figures against the last close

P/S0.5x
P/E—
P/FCF14.2x
EV/EBITDA—
Dividend yield—
Diluted EPS-35.00

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States
  • Non-US
Revenue by geography, 2 categories over 2 years. The same figures are in the table below. FY2025 United States, FY2025: 137.1M (71.7%) 72% United States Non-US, FY2025: 54.1M (28.3%) 28% Non-US FY2024 United States, FY2024: 97M (59.0%) 59% Non-US, FY2024: 67.4M (41.0%) 41%
Region FY2025FY2024
United States $137.1M $97.0M
Non-US $54.1M $67.4M

As the company reported it, from the “Note 10 - Business Segment Information - Revenue by Business Segment Sector (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $191.2M$164.5M$158.6M$131.8M$98.3M$107.7M$106.8M$87.2M$85.5M$82.5M
Cost of revenue $145.1M$122.1M$119.4M$102.4M$73.6M$78.6M$75.6M$61.6M$59.3M$57.4M
Gross profit $46.0M$42.3M$39.2M$29.4M$24.6M$29.2M$31.2M$25.6M$26.2M$25.1M
R&D $10.4M$8.3M$7.5M$7.1M$6.8M$5.9M$6.8M$4.5M$4.7M$5.9M
SG&A $29.3M$24.1M$22.2M$22.2M$17.8M$17.5M$17.0M$14.5M$15.0M$15.4M
Total operating expenses $51.9M$32.3M$29.7M$29.3M$24.6M$23.5M$23.8M$19.0M$19.8M$21.3M
Operating income -$5.9M$10.0M$9.5M$129.0K$35.0K$5.7M$7.4M$6.6M$6.5M$3.8M
Pre-tax income -$8.4M$8.3M$9.1M-$446.0K-$151.0K$7.0M$6.8M$6.6M$6.3M$3.6M
Income tax $2.4M$1.9M$2.0M$326.0K$79.0K$1.7M$1.5M$18.4M$1.4M$98.0K
Net income -$5.9M$6.3M$7.2M-$119.0K-$234.0K$5.2M$5.2M$24.9M$7.6M$3.5M
EPS, basic -35.0038.000.440.050.050.3333.001.570.490.23
EPS, diluted -35.0038.000.440.050.050.3332.001.530.480.23
Shares, diluted (wtd. avg.) 16.6M16.8M16.2M16.1M16.0M16,09616.2M16.3M15,85815.4M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $9.3M$6.9M$10.3M$5.7M$8.4M$10.7M$7.4M$25.9M$18.3M$10.7M
Receivables $33.9M$29.4M$31.8M$27.8M$20.2M$21.1M$30.1M$16.0M$14.7M$13.2M
Inventory $54.0M$51.4M$42.2M$41.2M$33.2M$28.2M$29.8M$22.8M$26.3M$23.5M
Total current assets $105.8M$97.2M$90.2M$79.0M$66.5M$64.5M$70.4M$67.2M$61.9M$49.4M
Property, plant and equipment $40.4M$40.5M$21.1M$21.7M$23.2M$22.9M$22.5M$10.7M$7.6M$8.0M
Goodwill $45.4M$45.0M$37.6M$37.4M$38.1M$27.0M$26.8M$20.1M$20.5M$20.0M
Other intangibles $10.9M$24.6M$15.1M$15.9M$17.4M$9.2M$9.7M$6.5M$7.1M$7.2M
Total assets $216.9M$220.5M$178.3M$168.4M$159.5M$137.7M$144.6M$120.8M$97.2M$84.7M
Accounts payable $17.4M$14.2M$11.3M$16.1M$9.8M$10.8M$9.4M$9.9M$8.8M$7.3M
Short-term debt $4.1M$2.8M$2.0M$2.0M$2.0M$1.4M$1.4M———
Total current liabilities $37.3M$29.3M$23.7M$28.9M$18.9M$18.7M$17.2M$15.4M$14.2M$11.3M
Long-term debt $45.5M$51.5M$23.6M$19.3M$18.9M$0$15.8M———
Total liabilities $86.8M$86.3M$52.8M$52.0M$41.8M$20.8M$34.8M$16.4M$18.1M$16.9M
Retained earnings -$40.3M-$34.4M-$40.8M-$48.0M-$47.8M-$47.6M-$52.8M-$58.0M-$82.9M-$90.5M
Total equity $130.0M$134.0M$125.4M$116.4M$117.7M$116.9M$109.8M$104.5M$79.0M$67.9M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $11.0M$16.6M$1.9M-$1.3M$4.3M$21.7M-$3.0M$10.9M$7.3M$7.7M
Depreciation and amortisation $4.0M$3.1M$3.0M$3.2M$2.9M$2.3M$2.2M$2.0M$2.0M$2.2M
Stock-based compensation $935.0K$698.0K$528.0K$776.0K$671.0K$943.0K$753.0K$890.0K$653.0K$710.0K
Capital expenditure $3.9M$1.9M$2.6M$1.7M$2.8M$3.1M$6.3M$4.2M$1.4M$1.2M
Investing cash flow -$3.9M-$50.0M-$2.6M-$1.7M-$26.3M-$3.0M-$31.5M-$4.2M-$1.4M-$11.1M
Financing cash flow -$4.7M$29.9M$5.5M$518.0K$19.6M-$15.7M$16.1M$1.2M$1.4M-$175.0K
Buybacks —————$0$2.0M$742.0K$26.0K$607.0K

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001437749-26-019134.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -50M 0 50M 100M 150M 200M Revenue, FY2016: 82.5M Gross profit, FY2016: 25.1M Net income, FY2016: 3.5M Revenue, FY2017: 85.5M Gross profit, FY2017: 26.2M Net income, FY2017: 7.6M Revenue, FY2018: 87.2M Gross profit, FY2018: 25.6M Net income, FY2018: 24.9M Revenue, FY2019: 106.8M Gross profit, FY2019: 31.2M Net income, FY2019: 5.2M Revenue, FY2020: 107.7M Gross profit, FY2020: 29.2M Net income, FY2020: 5.2M Revenue, FY2021: 98.3M Gross profit, FY2021: 24.6M Net income, FY2021: -234K Revenue, FY2022: 131.8M Gross profit, FY2022: 29.4M Net income, FY2022: -119K Revenue, FY2023: 158.6M Gross profit, FY2023: 39.2M Net income, FY2023: 7.2M Revenue, FY2024: 164.5M Gross profit, FY2024: 42.3M Net income, FY2024: 6.3M Revenue, FY2025: 191.2M Gross profit, FY2025: 46M Net income, FY2025: -5.9M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $82.5M $85.5M $87.2M $106.8M $107.7M $98.3M $131.8M $158.6M $164.5M $191.2M
Gross profit $25.1M $26.2M $25.6M $31.2M $29.2M $24.6M $29.4M $39.2M $42.3M $46.0M
Net income $3.5M $7.6M $24.9M $5.2M $5.2M -$234.0K -$119.0K $7.2M $6.3M -$5.9M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Auditor changed The company changed auditors. Sometimes routine; historically one of the more reliable warnings that something is wrong. Item 4.01
  • Results announced Item 2.02
  • Shareholder vote Item 5.07
  • Results announced Item 2.02
  • Annual report filed Form 10-K
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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