Filing Flows › Ultralife (ULBI) › Q3 2025
Ultralife (ULBI) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 17, 2025
Ultralife (ULBI) reported revenue of $43.4M for the third quarter 2025 (Q3 2025), +22% from a year earlier and -11% from the quarter before. Operating margin was -2.2%, net loss $1.2M (2.9% of revenue).
Ultralife, Q3 2025: revenue $43.4M (+22% year over year), operating margin -2.2%, net loss $1.2M, operating cash flow $198K. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $43.4M | -11% | +22% |
| Operating profit | −$951K | -142% | — |
| Net earnings | −$1.2M | -243% | — |
| Operating cash flow | $198K | -97% | -96% |
What changed
Revenue was $43.4M in Q3 2025, up 22% year over year and down 11% from the previous quarter. Battery & Energy Products Segment was the largest line at 92% of revenue. Battery & Energy Products Segment added $7.4M year over year (up 23%), 97% of the total change.
Gross margin was 22.2%, down 2.1 points from a year earlier. Operating costs exceeded revenue by $1.0M, an operating margin of -2.2%. Operating expenses grew 29% against revenue growth of 22%. The fastest-growing cost line was Research & development (+36%). The quarter ended with a net loss of $1.2M, after a profit of $870K the previous quarter. Net interest and other expense of $800K was the main reason.
Operating cash flow was $198K (down 96% year over year). Non-cash charges added back $1.4M of depreciation and amortization and $236K of share-based compensation. Working capital and other items used $210K. Capital expenditures of $1.0M exceeded it, leaving free cash flow of −$797K.
Questions
What was Ultralife's revenue in the third quarter 2025?
Ultralife (ULBI) reported revenue of $43.4M for the third quarter 2025 (Q3 2025), +22% from a year earlier and -11% from the quarter before.
Was Ultralife profitable in the third quarter 2025?
Operating loss was $951K (-2.2% of revenue) and net loss $1.2M.
Source: Ultralife 10-Q on SEC EDGAR.