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How Ultralife (ULBI) makes money

Ultralife (ULBI) made $48.3M of revenue in the third quarter 2026 (Q3 2026), +11% from a year earlier. Battery & Energy Products Segment brought in $45.1M (93%); Communications Systems Segment brought in $3.2M (7%). Of every dollar of revenue, 28¢ was left as gross profit, 7¢ was left as operating profit, 5¢ was left as net earnings.

Drawing the Sankey…

Ultralife revenue by segment, Q3 2026Ultralife revenue by segment, Q3 2026Battery & Energy Products Segment$45.1MCommunications Systems Segment$3.2M
Ultralife: revenue by line, Q1 2025 to Q3 2026Ultralife: revenue by line, Q1 2025 to Q3 2026Battery & Energy Prod…Communications System…Battery & Energy Products Segment: $45.1M latest$45.1MCommunications Systems Segment: $3.2M latestQ1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026Q3 2026
Battery & Energy Products Segment went from 91% of revenue in Q1 2025 to 93% in Q3 2026, the largest shift in the mix.
Ultralife revenue by quarterUltralife revenue by quarter$50.7MQ1 2025$48.6MQ2 2025$43.4MQ3 2025$48.5MQ4 2025$47.4MQ1 2026$47.9MQ2 2026$48.3MQ3 2026
Ultralife: where each dollar of revenue goesUltralife: where each dollar of revenue goesCost of revenue72¢Gross profit28¢Operating expenses21¢Operating profit7¢Income tax1¢Net earnings5¢

Revenue by segment, Q3 2026

SegmentRevenueShareQ/QY/Y
Battery & Energy Products Segment$45.1M93.4%+2%+13%
Communications Systems Segment$3.2M6.6%-15%-7%

Where each dollar of revenue goes

LineQ3 2026% of revenue
Revenue$48.3M100.0%
Cost of revenue$35.0M72.5%
Gross profit$13.3M27.5%
Operating expenses$10.1M20.9%
Operating profit$3.2M6.6%
Income tax$362K0.7%
Net earnings$2.4M4.9%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q3 2026$48.3M+11%
Q2 2026$47.9M-1%
Q1 2026$47.4M-6%
Q4 2025$48.5M+11%
Q3 2025$43.4M+22%
Q2 2025$48.6M+13%
Q1 2025$50.7M+21%

From Ultralife's 10-Q filed Nov 5, 2026 (on EDGAR).

Questions

How does Ultralife make money?

Ultralife (ULBI) made $48.3M of revenue in the third quarter 2026 (Q3 2026), +11% from a year earlier. Battery & Energy Products Segment brought in $45.1M (93%); Communications Systems Segment brought in $3.2M (7%). Of every dollar of revenue, 28¢ was left as gross profit, 7¢ was left as operating profit, 5¢ was left as net earnings.

What is Ultralife's biggest business?

Battery & Energy Products Segment: $45.1M in the third quarter 2026, 93% of revenue, +13% from a year earlier.

What is Ultralife's profit margin?

Net earnings were $2.4M, 4.9% of revenue, in the third quarter 2026; the operating margin was 6.6%.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.