The record backlog ($115.1M) provides a potential catalyst for revenue recovery in coming quarters, but the Q1 miss on both revenue and profitability, combined with margin compression and weak Communications Systems, suggests near-term downside risk. Monitor Q2 2026 for backlog conversion and margin improvement — if production issues persist, further EPS misses are likely.
Price Chart
Executive Summary
Ultralife reported a weak Q1 2026 with revenue down 6.5% YoY to $47.4M and a GAAP net loss of ($0.03)/share vs $0.11 profit a year ago, driven by production disruptions, higher costs, and weak Communications Systems sales. Despite a record backlog of $115.1M, the operating loss and margin compression signal near-term headwinds.
Key Financial Metrics
Key Facts
- Revenue fell 6.5% YoY to $47.4M from $50.7M
- GAAP EPS of ($0.03) vs $0.11 in Q1 2025 — a $0.14 swing to loss
- Operating loss of ($0.2M) vs operating income of $3.4M last year
- Gross margin contracted to 21.3% from 25.1% due to tariffs, utility costs, and production disruptions
- Communications Systems sales plunged 25.7% to $3.3M
- Record backlog of $115.1M, up from $110.2M at Q4 2025
- Adjusted EBITDA fell to $3.2M (6.8% of sales) from $5.4M (10.7%)
- One-time costs of $1.7M included production disruptions and consulting/litigation expenses
Financial Impact
Revenue decline of $3.3M YoY; GAAP net loss of $0.5M vs $1.9M profit; operating income swing of -$3.6M
Risk Factors
- Production disruptions at Newark and Raynham facilities may continue to pressure margins
- Tariff and utility cost headwinds are not transitory — could persist through 2026
- Communications Systems order delays may extend, keeping that segment weak
- Debt of $47.6M (current + long-term) adds financial leverage risk given operating losses
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3290986 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 7, 2026 11w ago | 8-K | $6.94 | awaiting T+60 | — | $6.31 (−9.14%) |
Jul 30, 2026 12w ago | Press Release | $5.16 $6.07 | ▲ +17.64% | ▲ +15.17% | $6.31 (+22.21%) |
Jun 2, 2026 20w ago | DEFA14A | $7.11 $6.56 | ▼ −7.74% | ▼ −8.85% | $6.31 (−11.31%) |
May 8, 2026 24w ago | 8-K | $5.97 $5.48 | ▲ +8.21% | ▲ +13.05% | $6.31 (−5.63%) |
May 8, 2026 24w ago | Press Release | $5.97 $5.48 | ▲ +8.21% | ▲ +13.05% | $6.31 (−5.63%) |
May 1, 2026 25w ago | Press Release | $6.62 $5.30 | ▼ −19.94% | ▼ −21.80% | $6.31 (−4.74%) |
Apr 29, 2026 25w ago | 10-K/A | $6.88 $5.30 | ▼ −22.97% | ▼ −27.08% | $6.31 (−8.34%) |
Mar 12, 2026 32w ago | Insider Cluster | $6.06 $6.69 | ▲ +10.40% | ▼ −0.30% | $6.31 (+4.06%) |
Mar 10, 2026 32w ago | 8-K | $5.88 $6.91 | ▲ +17.52% | ▲ +6.00% | $6.31 (+7.24%) |
Mar 10, 2026 33w ago | Press Release | $5.73 $6.91 | ▲ +20.59% | ▲ +8.91% | $6.31 (+10.05%) |
US Market Status
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