Filing Flows › Ultralife (ULBI) › Q4 2025
Ultralife (ULBI) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 23, 2026
Ultralife (ULBI) reported revenue of $48.5M for the fourth quarter 2025 (Q4 2025), +11% from a year earlier and +12% from the quarter before. Operating margin was -21.9%, net loss $7.5M (15.4% of revenue).
Ultralife, Q4 2025: revenue $48.5M (+11% year over year), operating margin -21.9%, net loss $7.5M, operating cash flow $1.5M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $48.5M | +12% | +11% |
| Operating profit | −$10.6M | — | — |
| Net earnings | −$7.5M | — | — |
| Operating cash flow | $1.5M | +652% | -51% |
| Free cash flow | $607K | — | -75% |
What changed
Revenue was $48.5M in Q4 2025, up 11% year over year and up 12% from the previous quarter. Battery & Energy Products Segment was the largest line at 95% of revenue.
Gross margin was 24.9%, up 0.7 points from a year earlier. Operating costs exceeded revenue by $10.6M, an operating margin of -21.9%. Operating expenses grew 148% against revenue growth of 11%. The fastest-growing cost line was Research & development (+17%). The quarter ended with a net loss of $7.5M, wider than the previous quarter's $1.2M loss.
Operating cash flow was $1.5M (down 51% year over year). Non-cash charges added back $1.3M of depreciation and amortization and $237K of share-based compensation. Working capital and other items added $7.4M. Capital expenditures of $882K left free cash flow of $607K.
Questions
What was Ultralife's revenue in the fourth quarter 2025?
Ultralife (ULBI) reported revenue of $48.5M for the fourth quarter 2025 (Q4 2025), +11% from a year earlier and +12% from the quarter before.
Was Ultralife profitable in the fourth quarter 2025?
Operating loss was $10.6M (-21.9% of revenue) and net loss $7.5M.
Source: Ultralife 10-K on SEC EDGAR.