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Ultralife (ULBI) investor relations material
Ultralife Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary18 Nov, 2025
Executive summary
Q3 2025 sales rose 21.5% year-over-year to $43.4 million, driven by the Electrochem acquisition and higher government/defense demand, but the quarter ended with a GAAP net loss of $0.07 per share due to $1.1 million in one-time costs and supply chain quality issues impacting gross margin.
Strategic actions included the closure of the Calgary facility, transition and integration of Electrochem Solutions, and a company-wide rebranding initiative to unify market identity and reduce redundancy.
Operating loss was $1.0 million versus operating income of $0.5 million last year, impacted by quality issues, non-recurring costs, and delayed communication systems sales.
Adjusted EBITDA was $2.05 million (4.7% of sales), up from $1.92 million (5.4% of sales) year-over-year.
Backlog at quarter-end was $90.1 million, up 6.5% sequentially.
Financial highlights
Q3 2025 revenues: $43.4 million (+21.5% YoY); gross profit: $9.6 million (22.2% margin), but gross margin declined from 24.3% due to manufacturing inefficiencies and sales mix.
Battery & Energy Products segment revenue was $39.95 million (+22.8% YoY), with organic growth of 1.9% excluding Electrochem; Communications Systems revenue was $3.43 million (+8.2% YoY).
Operating expenses rose to $10.6 million, reflecting acquisition and closure costs.
Net loss attributable to shareholders was $1.22 million, or $0.07 per share, compared to net income of $0.3 million, or $0.02 per share, last year.
Cash at quarter-end was $9.3 million, up from $6.85 million at year-end 2024.
Outlook and guidance
Entering 2026 with the Electrochem transition completed, expanded product offerings, reduced facility count, and unified back office systems.
Focus remains on converting product development into revenue, advancing vertical integration, and operational efficiency.
Management expects annual savings of $0.8 million after the Calgary facility closure, to be completed in Q1 2026.
Management expects positive operating cash flow and sufficient liquidity from operations and the Revolving Credit Facility to meet funding needs.
Expect benefits from new product launches and cost-saving initiatives.
Progress on Electrochem's margin synergies?
When will internal control weakness be fully remediated?
What actions address manufacturing inefficiencies?
What annual savings from Calgary closure are expected?
How will Ultralife improve manufacturing efficiency?
What caused the commercial sales decline in Q3?
Supply chain quality issue resolution plan?
Comm Systems new product earnings impact?
Electrochem vertical integration 2026 impact?
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Q4 202519 Feb, 2026
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Frequently asked questions
Ultralife Corporation is a U.S.-based company that designs and manufactures power and communication systems. It produces batteries, energy storage systems, and communication equipment for defense, industrial, and medical markets. The company operates through segments that include battery and energy products, and communications systems. It is headquartered in Newark, New York, and its shares are listed on the NASDAQ.
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