Ultralife Q1 revenue $47.4M, GAAP EPS -$0.03; backlog record $115.1M

ULTRALIFE CORP

2026-Q1 EPS reported -$3.00 revenue$47,445,000

Revenue $47.4M, down 6.5% YoY; Battery & Energy sales -4.7%, Communications Systems -25.7%.
GAAP net loss ($0.5M) or ($0.03) per share vs $1.9M/$0.11 prior year; adjusted EBITDA $3.2M vs $5.4M.
Gross margin 21.3% (down from 25.1%); operating loss ($0.2M) including $1.7M one-time costs from power outage, inventory integration, and weather.
Backlog record $115.1M, highest ever, up from $110.2M at Q4 2025 and $95.0M at Q1 2025.
Management focusing on improving manufacturing efficiencies and driving orders to restore profitability and generate cash flow.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ULTRALIFE CORP reported the first quarter ended March 31, 2026 results: revenue $47.4 million, net income ($0.5) million, EPS ($0.03) per basic and diluted share.

Period: the first quarter ended March 31, 2026
Revenue: $47.4 million
Net income: ($0.5) million
EPS: ($0.03) per basic and diluted share
Result: reported results

Exact text from the filing

First Quarter 2026 Financial Results Revenue was $47.4 million, a decrease of $3.3 million, or 6.5%, as compared to revenue of $50.7 million for the first quarter of 2025. Battery & Energy Products sales decreased 4.7% to $44.2 million compared to $46.3 million last year. The year-over-year decrease reflects a 5.5% decline in commercial sales due to lower oil & gas and industrial sales offsetting an increase in medical battery sales, and a 2.7% decline in government/defense sales due to the shipment of a very large order for an allied country last year. Communications Systems sales decreased by 25.7% to $3.3 million compared to $4.4 million for the same period last year, primarily attributable to the timing of expected orders. Our total backlog exiting the first quarter was $115.1 million, the highest level in the Company’s history, compared to $110.2 million exiting the fourth quarter of 2025 and $95.0 million exiting the first quarter of 2025. Gross profit was $10.1 million, or 21.3%

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Source: SEC EDGAR

accession 0001437749-26-015749

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