Filing Flows › Ultralife (ULBI) › Q2 2026 › vs Q2 2025
Ultralife (ULBI) Q2 2026 vs Q2 2025 (year over year)
Ultralife's revenue fell $618K (-1%) from $48.6M in Q2 2025 to $47.9M in Q2 2026. The biggest changes: Battery & Energy Products Segment −$1.7M (-4%); Communications Systems Segment +$1.1M (+39%). Gross margin 28.9% against 23.9% (+5.0 pts).
Ultralife, Q2 2026: revenue $47.9M (-1% year over year), operating margin 7.2%, net earnings $2.5M, operating cash flow $1.2M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 28.9% | 23.9% | +5.0 pts |
| Operating margin | 7.2% | 4.6% | +2.5 pts |
| Net margin | 5.3% | 1.8% | +3.5 pts |
| Free cash flow margin | 1.5% | 10.0% | -8.4 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Battery & Energy Products Segment | $44.2M | $45.9M | −$1.7M | -4% |
| Communications Systems Segment | $3.8M | $2.7M | $1.1M | +39% |
| Revenue | $47.9M | $48.6M | −$618K | -1% |
| Gross profit | $13.9M | $11.6M | $2.3M | +20% |
| Cost of revenue | $34.1M | $37.0M | −$2.9M | -8% |
| Operating profit | $3.4M | $2.3M | $1.2M | +52% |
| Operating expenses | $10.4M | $9.3M | $1.1M | +12% |
| Pre-tax earnings | $3.0M | $1.1M | $1.9M | +168% |
| Other expense, net | $451K | $1.1M | −$692K | -61% |
| Research & development | $3.2M | $2.3M | $907K | +39% |
| SG&A | $7.2M | $7.0M | $177K | +3% |
| Net earnings | $2.5M | $870K | $1.6M | +189% |
| Income tax | $468K | $243K | $225K | +93% |
| Operating cash sources | $3.9M | $2.5M | $1.4M | +56% |
| Depreciation & amortization | $1.3M | $1.4M | −$94K | -7% |
| Share-based compensation | $90K | $235K | −$145K | -62% |
| Working capital & other | $2.7M | −$3.4M | $6.2M | — |
| Operating cash flow | $1.2M | $5.9M | −$4.7M | -80% |
| Free cash flow (OCF − capex) | $735K | $4.8M | −$4.1M | -85% |
| Capital expenditures | $453K | $1.1M | −$647K | -59% |
Questions
How much did Ultralife's revenue grow year over year in Q2 2026?
Ultralife's revenue fell $618K (-1%) from $48.6M in Q2 2025 to $47.9M in Q2 2026.
What drove Ultralife's revenue change in Q2 2026?
Battery & Energy Products Segment −$1.7M (-4%); Communications Systems Segment +$1.1M (+39%).