ULTRALIFE CORP (ULBI) Financial Statements — Income, Balance Sheet, Cash Flow

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Financial Statements — ULBI

Balance Sheet

(in millions USD)

Metric	Q2 2026	Q1 2026	Q3 2025	Q2 2025	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022	Q2 2022	Q1 2022	Q3 2021	Q2 2021	Q1 2021
Cash & Equivalents	6.66	8.89	9.26	10.94	8.72	6.77	6.69	10.10	9.22	8.20	5.52	4.98	5.04	5.97	15.77	15.74	13.57
Accounts Receivable	34.77	34.43	30.93	32.32	36.06	27.75	31.06	35.28	27.19	28.63	24.46	26.88	22.35	22.91	16.24	18.71	19.16
Inventory	58.75	57.29	52.75	50.58	47.85	43.99	41.39	43.82	46.63	46.06	47.31	40.77	39.20	36.38	28.18	27.41	27.86
Total Current Assets	107.16	110.10	100.62	99.00	101.47	86.43	83.79	94.30	89.55	87.83	81.35	78.94	71.83	69.14	64.54	64.31	63.52
Property, Plant & Equipment	39.51	40.12	40.54	40.61	40.28	20.25	20.28	20.67	21.17	21.12	21.41	21.90	22.34	22.77	23.04	22.72	22.95
Goodwill	45.37	45.33	45.34	45.41	45.14	37.79	37.51	37.50	37.36	37.50	37.52	37.07	37.50	37.93	27.00	27.12	27.06
Intangible Assets	10.39	10.65	23.41	23.84	24.19	14.49	14.65	14.87	15.27	15.55	15.75	16.10	16.57	17.04	8.73	8.94	9.08
Total Non-current Assets*	109.00	110.53	121.63	121.96	122.28	86.01	86.03	86.25	86.56	87.57	89.80	89.00	90.40	92.25	72.27	72.22	72.87
Total Assets	216.16	220.63	222.25	220.96	223.75	172.44	169.82	180.55	176.11	175.39	171.15	167.94	162.22	161.39	136.81	136.52	136.39
Accounts Payable	22.60	24.06	14.16	15.03	16.62	12.68	9.69	13.32	13.47	18.54	18.99	15.83	13.44	11.24	9.21	9.55	10.14
Total Current Liabilities	37.35	43.05	33.70	29.90	31.50	26.20	20.57	23.38	26.39	29.20	29.20	28.08	22.18	20.02	16.69	15.53	16.64
Long-term Debt	42.85	44.19	46.52	47.51	50.51	5.89	9.98	23.14	24.11	22.64	21.13	20.87	19.57	19.98	--	--	--
Total Non-current Liabilities*	46.20	47.83	51.12	52.42	55.65	11.61	15.90	28.23	27.97	26.51	25.55	24.54	22.98	23.73	1.58	1.75	1.89
Total Liabilities	83.56	90.89	84.81	82.32	87.15	37.81	36.47	51.61	54.35	55.72	54.75	52.62	45.16	43.75	18.27	17.28	18.53
Retained Earnings	(38.25)	(40.79)	(32.92)	(31.70)	(32.58)	(34.64)	(34.89)	(37.86)	(43.63)	(44.96)	(48.30)	(47.73)	(47.49)	(48.00)	(46.70)	(46.12)	(46.93)
Total Stockholder Equity	132.51	129.63	137.26	138.45	136.40	134.48	133.21	128.84	121.64	119.53	116.27	115.19	116.94	117.51	118.42	119.10	117.73

* Derived from reported values

Income Statement

(in millions USD) (except per-share rows)

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021
Total Revenue	47.94	47.45	48.48	43.37	48.56	50.75	43.85	35.69	42.98	41.93	44.55	39.49	42.69	31.92	36.11	33.23	32.13	30.37	23.76	21.76
Cost of Revenue	34.08	37.34	36.42	33.75	36.96	38.00	33.25	27.01	31.42	30.46	33.15	29.71	32.10	24.48	28.03	26.52	24.48	23.42	18.47	16.65
Gross Profit	13.87	10.11	12.06	9.62	11.60	12.75	10.60	8.68	11.56	11.47	11.40	9.77	10.59	7.44	8.08	6.72	7.65	6.96	5.29	5.11
Research & Development	3.23	2.96	2.82	2.86	2.32	2.40	2.41	2.10	2.00	1.76	1.85	1.87	1.78	2.03	1.66	1.90	1.67	1.86	1.60	1.72
Selling, General & Admin	7.20	7.36	7.66	7.72	7.03	6.94	6.71	6.07	5.65	5.65	5.90	5.77	5.15	5.38	6.21	5.41	5.18	5.40	4.92	4.16
Total Operating Expenses	10.43	10.33	22.66	10.57	9.35	9.35	9.13	8.17	7.65	7.41	7.75	7.64	6.92	7.41	7.86	7.30	6.85	7.25	6.52	5.89
Operating Income	3.44	(0.21)	(10.61)	(0.95)	2.26	3.40	1.47	0.51	3.92	4.06	3.65	2.13	3.67	0.03	0.22	(0.59)	0.79	(0.29)	(1.23)	(0.78)
Pretax Income	2.99	(0.66)	(10.21)	(1.75)	1.11	2.45	0.50	0.35	3.85	3.61	3.11	1.75	4.72	(0.47)	(0.38)	(0.33)	0.68	(0.41)	(1.34)	(0.78)
Tax Provision	0.47	(0.19)	(2.75)	(0.50)	0.24	0.57	0.26	0.07	0.85	0.70	0.26	0.45	1.38	(0.13)	(0.15)	(0.09)	0.17	(0.25)	(0.21)	(0.17)
Net Income	2.54	(0.45)	(7.42)	(1.22)	0.88	1.87	0.19	0.26	2.97	2.89	2.87	1.33	3.34	(0.35)	(0.22)	(0.24)	0.51	(0.17)	(1.13)	(0.58)
Basic EPS	15.00	(3.00)	(35.00)	(0.07)	0.05	0.02	(0.06)	0.02	0.21	0.21	(0.37)	0.21	0.21	(0.02)	0.97	0.03	0.03	(1.00)	(5.01)	(4.00)
Diluted EPS	15.00	(3.00)	(35.00)	(0.07)	0.05	0.02	(0.06)	0.02	0.21	0.21	(0.37)	0.21	0.21	(0.02)	0.97	0.03	0.03	(1.00)	(5.01)	(4.00)

Cash Flow Statement

(in millions USD)

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021
Operating Cash Flow	1.19	2.26	1.49	0.20	5.94	3.37	3.05	4.75	8.93	(0.08)	2.43	(0.89)	1.75	(1.36)	2.56	(0.43)	(0.18)	(3.22)	(4.14)	1.51
Capital Expenditures	0.45	0.77	0.88	1.00	1.10	0.90	0.61	0.59	0.36	0.37	1.00	0.53	0.52	0.50	0.28	0.81	0.21	0.37	0.49	1.10
Free Cash Flow*	0.74	1.49	0.61	(0.80)	4.84	2.47	2.44	4.15	8.57	(0.45)	1.43	(1.42)	1.24	(1.86)	2.28	(1.24)	(0.39)	(3.59)	(4.63)	0.41
Investing Cash Flow	(0.45)	(0.77)	(0.89)	(0.99)	(1.10)	(0.89)	(48.63)	(0.59)	(0.36)	(0.37)	(1.00)	(0.53)	(0.52)	(0.50)	(0.28)	(0.81)	(0.21)	(0.37)	(24.01)	(1.10)
Financing Cash Flow	(3.03)	(2.06)	(0.69)	(0.65)	(2.65)	(0.69)	45.68	(4.08)	(11.93)	0.19	(0.30)	2.43	1.56	1.80	(1.58)	1.30	(0.43)	1.22	20.58	(0.39)

* Derived from reported values