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Ultralife (ULBI) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
Ultralife (ULBI) reported revenue of $48.6M for the second quarter 2025 (Q2 2025), +13% from a year earlier and -4% from the quarter before. Operating margin was 4.6%, net earnings $870K (1.8% of revenue).
Ultralife, Q2 2025: revenue $48.6M (+13% year over year), operating margin 4.6%, net earnings $870K, operating cash flow $5.9M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $48.6M | -4% | +13% |
| Gross profit | $11.6M | -9% | +0.3% |
| Operating profit | $2.3M | -34% | -42% |
| Net earnings | $870K | -54% | -71% |
| Operating cash flow | $5.9M | +76% | -34% |
| Free cash flow | $4.8M | +96% | -44% |
What changed
Revenue was $48.6M in Q2 2025, up 13% year over year and down 4% from the previous quarter. Battery & Energy Products Segment was the largest line at 94% of revenue. Battery & Energy Products Segment added $9.2M year over year (up 25%), 165% of the total change. Communications Systems Segment declined 57%.
Gross margin was 23.9%, down 3.0 points from a year earlier. Operating profit was $2.3M, a 4.6% margin (down 4.5 points year over year). Operating profit fell $1.7M even though revenue rose $5.6M versus a year earlier, so costs grew faster than sales. Operating expenses grew 22% against revenue growth of 13%. The fastest-growing cost line was SG&A (+24%). Net earnings were $879K, down 70% year over year. The effective tax rate was 21.8%.
Operating cash flow was $5.9M (down 34% year over year), 682% of net earnings. Non-cash charges added back $1.4M of depreciation and amortization and $235K of share-based compensation. Working capital and other items added $3.4M. Capital expenditures of $1.1M left free cash flow of $4.8M.
Questions
What was Ultralife's revenue in the second quarter 2025?
Ultralife (ULBI) reported revenue of $48.6M for the second quarter 2025 (Q2 2025), +13% from a year earlier and -4% from the quarter before.
Was Ultralife profitable in the second quarter 2025?
Operating profit was $2.3M (4.6% of revenue) and net earnings $870K.
Source: Ultralife 10-Q on SEC EDGAR.