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Income statement, Ultralife Corp, fiscal years, most recent first
2025
2024
2023
2022
2021
2020
Total revenue
191
164
159
132
98.3
108
Cost of revenue
145
122
119
102
73.6
78.6
Gross profit
46.0
42.3
39.2
29.4
24.6
29.2
Selling, general & administrative expenses
27.0
21.9
21.4
21.0
17.3
17.0
Research & development
10.3
8.2
7.4
7.0
6.7
5.8
Depreciation/amortization
1.5
1.0
0.9
1.3
0.6
0.6
Interest expense (income), operating
–
–
–
–
–
–
Unusual expense (income)
13.2
1.3
–
–
0
−1.6
Other operating expenses
0
0
0
0
0
0
Operating income
−5.9
10.0
9.5
0.1
0
7.3
Net interest income (expense)
−4.0
−1.9
−2.0
−1.0
−0.2
−0.4
Gain (loss) on sale of assets
–
–
–
–
–
–
Other non-operating income (expense)
1.5
0.3
1.7
0.4
0.1
0.2
Net income before taxes
−8.4
8.3
9.1
−0.4
−0.2
7.0
Provision for taxes
−2.4
1.9
2.0
−0.3
0.1
1.7
Minority interest
0.1
−0.1
0
0
0
−0.1
Equity in affiliates
–
–
–
–
–
–
U.S. GAAP adjustment
–
–
–
–
–
–
Net income before extraordinary items
−5.9
6.3
7.2
−0.1
−0.2
5.2
Extraordinary items
–
–
–
–
–
–
Net income
−5.9
6.3
7.2
−0.1
−0.2
5.2
EBIT, normalized
9.3
11.4
9.6
0.9
0
5.7
EBITDA, normalized
14.8
15.6
13.5
5.4
3.6
8.6
Basic EPS, normalized
–
0.45
0.53
–
−0.01
–
Balance sheet in millions of USD, fiscal years
Balance sheet, Ultralife Corp, fiscal years, most recent first
2025
2024
2023
2022
2021
2020
Assets
Cash & short-term investments
9.3
6.9
10.2
5.6
8.4
10.7
Receivables
33.9
29.4
31.8
27.8
20.2
21.1
Total inventory
54.0
51.4
42.2
41.2
33.2
28.2
Prepaid expenses
8.5
9.6
5.9
4.3
4.7
4.6
Other current assets
0
0
0.1
0.1
0
0
Total current assets
106
97.2
90.2
79.0
66.5
64.5
Property, plant & equipment
43.7
44.6
24.7
23.9
25.8
25.0
Goodwill
45.4
45.0
37.6
37.4
38.1
27.0
Intangibles
10.9
24.6
15.1
15.9
17.4
9.2
Long-term investments
–
–
–
–
–
–
Note receivable
–
–
–
–
–
–
Other long-term assets
11.1
9.1
10.7
12.2
11.8
11.9
Total assets
217
220
178
168
160
138
Liabilities
Accounts payable
17.4
14.2
11.3
16.1
9.8
10.8
Payable/accrued
–
–
–
–
–
–
Accrued expenses
15.8
12.4
10.4
10.8
7.1
6.5
Short-term debt
0
0
0
0
0
0
Current portion of long-term debt
4.1
2.8
2.0
2.0
2.0
1.4
Other current liabilities
0
0
0
0
0
0
Total current liabilities
37.3
29.3
23.7
28.9
18.9
18.7
Long-term debt
45.5
51.5
23.6
19.3
18.9
0
Minority interest
0.1
0.2
0.1
0.1
0.1
0.1
Other liabilities
3.9
5.5
5.5
3.8
4.0
2.1
Total liabilities
86.9
86.5
52.9
52.2
41.9
20.9
Shareholders' equity
Preferred stock
0
0
–
0
0
0
Common stock
2.1
2.1
2.1
2.1
2.1
2.0
Additional paid-in capital
193
192
189
187
187
185
Retained earnings (accumulated deficit)
−40.3
−34.4
−40.8
−48.0
−47.8
−47.6
Treasury stock
−21.5
−21.5
−21.5
−21.5
−21.5
−21.3
Other equity
−3.1
−4.0
−3.7
−3.8
−1.7
−1.8
Total equity
130
134
125
116
118
117
Total liabilities & shareholders' equity
217
220
178
168
160
138
Cash flow statement in millions of USD, fiscal years
Cash flow statement, Ultralife Corp, fiscal years, most recent first
2025
2024
2023
2022
2021
2020
Operating activities
Net income
−6.0
6.4
7.2
−0.1
−0.2
5.3
Depreciation, depletion & amortization
5.5
4.2
3.9
4.5
3.5
2.9
Deferred taxes
−2.5
1.2
1.3
−1.0
−0.1
1.4
Non-cash items
13.4
1.0
0.6
0.8
0.8
0.1
Changes in working capital
0.6
3.9
−11.0
−5.5
0.4
12.0
Cash from operations
11.0
16.6
1.9
−1.3
4.3
21.7
Investing activities
Capital expenditures
−3.9
−1.9
−2.6
−1.7
−2.8
−3.1
Other investing cash flows
0
−48.0
0
0
−23.5
0.1
Cash from investing
−3.9
−50.0
−2.6
−1.7
−26.3
−3.0
Financing activities
Financing cash flow items
0
−1.4
0
−0.1
−0.3
−0.1
Cash dividends paid
–
–
–
–
–
–
Issuance (retirement) of debt, net
–
–
–
–
–
–
Other financing cash flows
−4.7
31.3
5.5
0.6
19.9
−15.6
Cash from financing
−4.7
29.9
5.5
0.5
19.6
−15.7
Foreign exchange effects
0
0
−0.3
−0.3
0.1
0.2
Net change in cash
2.5
−3.4
4.6
−2.7
−2.2
3.2
Free cash flow
7.1
14.7
−0.6
−2.9
1.5
18.6
Disclaimer
The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.
This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.
QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.
Live quote provided by TradingView. Report data updated Nov 3, 2026 after market close.