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Ultralife (ULBI) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Ultralife (ULBI) Q3 2026 earnings results →
Q3 2026 Revenue up 11% year over year to $48.3M · 5¢ of every $1 of revenue kept as net profit · operating margin 6.6%
Ultralife made $48.3M in Q3 2026 (+11% Y/Y): Battery & Energy Products Segment $45.1M, Communications Systems Segment $3.2M. Operating margin 6.6%, net earnings $2.4M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $48.3M in Q3 2026, up 11% year over year and up 1% from the previous quarter. Battery & Energy Products Segment was the largest line at 93% of revenue. Battery & Energy Products Segment added $5.1M year over year (up 13%), 105% of the total change. Communications Systems Segment declined 7%.
Gross margin was 27.5%, up 5.4 points from Q3 2025. Operating profit was $3.2M, a 6.6% margin (up 8.8 points year over year). Operating expenses fell 4% while revenue rose 11%. The fastest-growing cost line was Research & development (+12%). Net earnings were $2.4M. The effective tax rate was 13.2%.
Operating cash flow was −$2.9M. Non-cash charges added back $1.4M of depreciation and amortization and $92K of share-based compensation. Working capital and other items used $6.8M. Capital expenditures of $591K exceeded it, leaving free cash flow of −$3.5M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $48.3M | +11% | 6.6% | $2.4M | −$2.9M |
| Q2 2026 | 10-Q | Aug 7, 2026 | $47.9M | -1% | 7.2% | $2.5M | $1.2M |
| Q1 2026 | 10-Q | May 8, 2026 | $47.4M | -6% | -0.5% | −$471K | $2.3M |
| Q4 2025 | 10-K | Mar 23, 2026 | $48.5M | +11% | -21.9% | −$7.5M | $1.5M |
| Q3 2025 | 10-Q | Nov 17, 2025 | $43.4M | +22% | -2.2% | −$1.2M | $198K |
| Q2 2025 | 10-Q | Aug 7, 2025 | $48.6M | +13% | 4.6% | $870K | $5.9M |
| Q1 2025 | 10-Q | May 12, 2025 | $50.7M | +21% | 6.7% | $1.9M | $3.4M |
Charts
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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Customers and suppliers named in filings
Sells to
About Ultralife
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.
In its own words, from its 10-K, filed Mar 23, 2026.
Ultralife against its Miscellaneous Electrical Machinery, Equipment & Supplies peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +11% against the peers' median +8%. Operating margin: 6.6% against the peers' median 6.6%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| ULBI Ultralife | Q3 2026 | $48.3M | +11% | 6.6% |
| ENS EnerSys | Q1 FY27 | $936M | +5% | 16.2% |
| ATKR Atkore | Q3 FY26 | $795M | +8% | 8.1% |
| SPB Spectrum Brands Holdings | Q3 FY26 | $753M | +8% | 2.1% |
| ENR Energizer Holdings | Q3 FY26 | $734M | +1% | 6.8% |
| FLNC Fluence Energy | Q3 FY26 | $650M | +8% | -6.7% |
| NOVT Novanta | Q2 2026 | $266M | +10% | 6.8% |
| CHPT ChargePoint Holdings | Q2 FY27 | $116M | +18% | -29.3% |
| MVST Microvast Holdings | Q2 2026 | $87.3M | -4% | -2.0% |
Source: Ultralife 10-Q on SEC EDGAR · CIK 875657 · Miscellaneous Electrical Machinery, Equipment & Supplies
Guidance and outlook
13F: who owns ULBI and who is buying
More on ULBI
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Ultralife gross margin by quarter
- Ultralife operating margin by quarter
- Ultralife net income by quarter
- Ultralife free cash flow by quarter
- Ultralife R&D spending by quarter
- Ultralife capital expenditures by quarter
- Ultralife Battery & Energy Products Segment revenue by quarter
- Ultralife Communications Systems Segment revenue by quarter