Ultralife Earnings Call Transcripts
Fiscal Year 2026
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Q2 2026 saw revenue of $47.9M, record backlog nearing $130M, and strong gross margin gains driven by new product launches and operational improvements. Segment growth was led by Communications Systems, while Battery & Energy Products benefited from margin initiatives and vertical integration.
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Q1 2026 saw revenue and gross margin declines due to shipment delays, plant shutdowns, and one-time costs, but a record backlog and new product launches position the business for future growth. Focus remains on operational improvements and vertical integration.
Fiscal Year 2025
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Q4 2025 revenue rose 10.6% year-over-year, but a one-time impairment led to a net loss. Backlog reached $110 million, and operational improvements and new product launches position the company for growth and margin expansion in 2026.
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Q3 2025 saw revenue growth to $43.4M but a net loss of $0.07 per share due to one-time costs and supply chain issues. Strategic actions included facility consolidation, new product launches, and a completed Electric Chem integration, positioning for improved margins and growth in 2026.
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Q2 2025 saw higher revenues but lower margins and profits due to tariffs, product mix, and order delays. Integration of Electrochem is progressing, debt reduction is ahead of schedule, and new product pipelines are strengthening, with optimism for a rebound in the second half of 2025.
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Q1 2025 saw 21% revenue growth year-over-year, driven by strong government defense sales and the full inclusion of Electrochem, despite lower medical and communication systems sales. Gross margin declined due to product mix and one-time costs, but backlog and cash flow remain strong.
Fiscal Year 2024
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Q4 2024 revenue was $43.9M with net income of $0.2M, impacted by one-time Electrochem acquisition costs. The backlog remains strong at $102.2M, and integration of Electrochem is progressing, with new product launches and lean initiatives supporting a positive 2025 outlook.
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Q3 2024 saw revenues decline year-over-year, with battery segment growth offset by a sharp drop in communication systems sales. Gross margin initiatives, lean productivity, and the Electrochem acquisition are expected to drive future growth and operational leverage.
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Q2 2024 saw record battery and energy product sales, improved gross margins, and a significant debt reduction. Backlog remains strong, with growth driven by government defense and medical markets, while investments in new products and efficiency initiatives continue.