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Ultralife (ULBI) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 8, 2026
Ultralife (ULBI) reported revenue of $47.4M for the first quarter 2026 (Q1 2026), -7% from a year earlier and -2% from the quarter before. Operating margin was -0.5%, net loss $471K (1.0% of revenue).
Ultralife, Q1 2026: revenue $47.4M (-6% year over year), operating margin -0.5%, net loss $471K, operating cash flow $2.3M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $47.4M | -2% | -7% |
| Operating profit | −$215K | — | -106% |
| Net earnings | −$471K | — | -125% |
| Operating cash flow | $2.3M | +52% | -33% |
| Free cash flow | $1.5M | +145% | -40% |
What changed
Revenue was $47.4M in Q1 2026, down 7% year over year and down 2% from the previous quarter. Battery & Energy Products Segment was the largest line at 93% of revenue. Battery & Energy Products Segment lost $2.2M year over year (down 5%), 66% of the total change.
Gross margin was 21.3%, down 3.8 points from Q1 2025. Operating costs exceeded revenue by $215K, an operating margin of -0.5%. Operating expenses grew 10% against a revenue fall of 7%. The fastest-growing cost line was Research & development (+23%). The quarter ended with a net loss of $471K, narrower than the previous quarter's $7.5M loss. Net interest and other expense of $448K was the main reason.
Operating cash flow was $2.3M (down 33% year over year). Non-cash charges added back $1.3M of depreciation and amortization. Working capital and other items added $1.4M. Capital expenditures of $770K left free cash flow of $1.5M.
Questions
What was Ultralife's revenue in the first quarter 2026?
Ultralife (ULBI) reported revenue of $47.4M for the first quarter 2026 (Q1 2026), -7% from a year earlier and -2% from the quarter before.
Was Ultralife profitable in the first quarter 2026?
Operating loss was $215K (-0.5% of revenue) and net loss $471K.
Source: Ultralife 10-Q on SEC EDGAR.