Watch the conference call for order conversion details on the record $117.5M backlog and timing of new product production ramps. The 500 bps gross margin improvement suggests operational fixes are gaining traction, but revenue remains slightly negative YoY.
Price Chart
Executive Summary
Ultralife reported Q2 2026 results with GAAP EPS of $0.15, up from $0.05 YoY, and gross margin expanding 500 bps to 28.9%. Revenue declined 1.3% to $47.9M, but operating income jumped 52% to $3.4M and backlog hit a record $117.5M, signaling operational recovery from Q1's production disruptions.
Key Financial Metrics
Key Facts
- GAAP EPS $0.15 vs $0.05 YoY, a 200% increase
- Gross profit $13.9M (28.9% of revenue) vs $11.6M (23.9%) YoY; excluding $1.1M IEEPA refund, gross margin was 26.6%
- Operating income $3.4M vs $2.3M YoY
- Backlog $117.5M, highest in company history, vs $115.1M Q1 2026 and $84.5M Q2 2025
- Communications Systems sales surged 39.3% to $3.8M
- Adjusted EBITDA $6.1M (12.8% of sales) vs $4.1M (8.5%) YoY
Financial Impact
Operating income increased $1.1M YoY to $3.4M; net income attributable to Ultralife rose $1.7M to $2.5M
Risk Factors
- Revenue still declined 1.3% YoY, driven by an 8.7% drop in oil & gas/industrial sales
- Gross margin benefited from a $1.1M net IEEPA refund; excluding that, margin was 26.6%
- One-time costs of $0.9M (litigation, consulting) continued to pressure operating expenses
- Dependence on government/defense spending and tariff exposure remains
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001437749-26-026573 |
| Document: ulbi20260807_8k.htm | 0001437749-26-026573 |
| Document: 0001437749-26-026573-index-headers.html | 0001437749-26-026573 |
| Document: 0001437749-26-026573-index.html | 0001437749-26-026573 |
| Document: 0001437749-26-026573.txt | 0001437749-26-026573 |
| 8-K Data (Synthetic) | 0001437749-26-026573 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 7, 2026 11w ago | 8-K | $6.94 | awaiting T+60 | — | $6.01 (−13.40%) |
Jul 30, 2026 12w ago | Press Release | $5.16 $6.07 | ▲ +17.64% | ▲ +15.17% | $6.01 (+16.47%) |
Jun 2, 2026 20w ago | DEFA14A | $7.11 $6.56 | ▼ −7.74% | ▼ −8.85% | $6.01 (−15.47%) |
May 8, 2026 24w ago | 8-K | $5.97 $5.48 | ▲ +8.21% | ▲ +13.05% | $6.01 (−0.67%) |
May 8, 2026 24w ago | Press Release | $5.97 $5.48 | ▲ +8.21% | ▲ +13.05% | $6.01 (−0.67%) |
May 1, 2026 25w ago | Press Release | $6.62 $5.30 | ▼ −19.94% | ▼ −21.80% | $6.01 (−9.21%) |
Apr 29, 2026 25w ago | 10-K/A | $6.88 $5.30 | ▼ −22.97% | ▼ −27.08% | $6.01 (−12.65%) |
Mar 12, 2026 32w ago | Insider Cluster | $6.06 $6.69 | ▲ +10.40% | ▼ −0.30% | $6.01 (−0.83%) |
Mar 10, 2026 32w ago | 8-K | $5.88 $6.91 | ▲ +17.52% | ▲ +6.00% | $6.01 (+2.21%) |
Mar 10, 2026 33w ago | Press Release | $5.73 $6.91 | ▲ +20.59% | ▲ +8.91% | $6.01 (+4.89%) |
US Market Status
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