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Ultralife vs Microvast Holdings: ULBI and MVST compared
Ultralife is the larger company: $48.3M of revenue in its latest quarter (Q3 2026) against $45.8M for Microvast Holdings (Q3 2026). Ultralife is growing faster (+11% against -63% a year earlier). Ultralife is more profitable, with an operating margin of 6.6% against -145.5%.
Where the money goes: ULBI and MVST
Ultralife (ULBI) · Q3 2026
Ultralife, Q3 2026: revenue $48.3M (+11% year over year), operating margin 6.6%, net earnings $2.4M, operating cash flow −$2.9M. The chart follows the revenue to costs, profit and cash.
Microvast Holdings (MVST) · Q3 2026
Microvast Holdings, Q3 2026: revenue $45.8M (-63% year over year), operating margin -145.5%, net loss $76.8M, operating cash flow −$32.1M. The chart follows the revenue to costs, profit and cash.
| Ultralife (ULBI) | Microvast Holdings (MVST) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $48.3M | $45.8M |
| Revenue growth, Y/Y | +11% | -63% |
| Gross margin | 27.5% | — |
| Operating margin | 6.6% | -145.5% |
| Net earnings | $2.4M | −$76.8M |
| Net margin | 4.9% | -167.7% |
| Operating cash flow | −$2.9M | −$32.1M |
Where the revenue comes from
Ultralife
- Battery & Energy Products Segment: $45.1M (93%)
- Communications Systems Segment: $3.2M (7%)
Questions
Which is bigger, Ultralife or Microvast Holdings?
Ultralife is the larger company: $48.3M of revenue in its latest quarter (Q3 2026) against $45.8M for Microvast Holdings (Q3 2026).
Is Ultralife or Microvast Holdings growing faster?
Ultralife is growing faster (+11% against -63% a year earlier).
Which is more profitable, Ultralife or Microvast Holdings?
Ultralife is more profitable, with an operating margin of 6.6% against -145.5%.
More: Ultralife earnings · how Ultralife makes money · Microvast Holdings earnings · how Microvast Holdings makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 5, 2026; 10-Q filed Nov 9, 2026). Fiscal quarters can end on different dates. Not investment advice.