Filing Flows › Ultralife (ULBI) › Q1 2025
Ultralife (ULBI) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 12, 2025
Ultralife (ULBI) reported revenue of $50.7M for the first quarter 2025 (Q1 2025), +21% from a year earlier and +16% from the quarter before. Operating margin was 6.7%, net earnings $1.9M (3.7% of revenue).
Ultralife, Q1 2025: revenue $50.7M (+21% year over year), operating margin 6.7%, net earnings $1.9M, operating cash flow $3.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $50.7M | +16% | +21% |
| Gross profit | $12.7M | +20% | +11% |
| Operating profit | $3.4M | +131% | -16% |
| Net earnings | $1.9M | +706% | -35% |
| Operating cash flow | $3.4M | +11% | — |
| Free cash flow | $2.5M | +1% | — |
What changed
Revenue was $50.7M in Q1 2025, up 21% year over year and up 16% from the previous quarter. Battery & Energy Products Segment was the largest line at 91% of revenue. Battery & Energy Products Segment added $11.3M year over year (up 32%), 128% of the total change. Communications Systems Segment declined 36%.
Gross margin was 25.1%, down 2.2 points from a year earlier. Operating profit was $3.4M, a 6.7% margin (down 3.0 points year over year). Operating profit fell $664K even though revenue rose $8.8M versus a year earlier, so costs grew faster than sales. Operating expenses grew 26% against revenue growth of 21%. The fastest-growing cost line was Research & development (+37%). Net earnings were $1.9M, down 35% year over year. The effective tax rate was 23.2%.
Operating cash flow was $3.4M, 179% of net earnings. Non-cash charges added back $1.4M of depreciation and amortization and $227K of share-based compensation. Capital expenditures of $895K left free cash flow of $2.5M.
Questions
What was Ultralife's revenue in the first quarter 2025?
Ultralife (ULBI) reported revenue of $50.7M for the first quarter 2025 (Q1 2025), +21% from a year earlier and +16% from the quarter before.
Was Ultralife profitable in the first quarter 2025?
Operating profit was $3.4M (6.7% of revenue) and net earnings $1.9M.
Source: Ultralife 10-Q on SEC EDGAR.