Ultralife(US:ULBI)2025-11-18 12:30Revenue and Sales Performance - Revenue for the third quarter of 2025 was $43.4 million, an increase of $7.7 million or 21.5% compared to $35.7 million in the same quarter of 2024[5] - Battery & Energy Products sales increased 22.8% to $39.9 million, while excluding Electrochem, sales increased 1.9%[6] - Communications Systems sales increased 8.2% to $3.4 million compared to $3.2 million for the same period last year[6] - Backlog at the end of the third quarter was $90.1 million, up from $84.5 million at the end of the second quarter of 2025[5] Profitability and Loss - Gross profit was $9.6 million, representing 22.2% of revenue, down from 24.3% in the third quarter of 2024[7] - Operating loss was $1.0 million, compared to operating income of $0.5 million in the same quarter last year, primarily due to one-time non-recurring costs[9] - Net loss attributable to Ultralife Corporation was $1.2 million, or ($0.07) per share, compared to net income of $0.3 million, or $0.02 per share, for the third quarter of 2024[10] - Ultralife Corporation reported a net loss of $(1,220) million for the three-month period ended September 30, 2025, compared to a net income of $258 million for the same period in 2024[23] - The nine-month period ended September 30, 2025, showed a net income of $1,524 million, a decrease from $6,118 million in the same period of 2024[23] Expenses and Costs - Operating expenses increased to $10.6 million, or 24.4% of revenue, compared to 22.9% of revenue for the same period last year[8] - Interest expense, net, increased to $992 million in the three-month period ended September 30, 2025, compared to $173 million in the prior year[23] - The company incurred severance and other costs for plant closure amounting to $491 million in the latest quarter[23] - Non-cash purchase accounting adjustments were $40 million for the three-month period ended September 30, 2025[23] - Depreciation expense rose to $1,008 million in the latest quarter, up from $765 million in the same quarter of the previous year[23] - Stock-based compensation expense increased to $236 million compared to $170 million in the same period last year[23] - Acquisition and other non-recurring costs for the three-month period were $594 million, up from $250 million in the prior year[23] Adjusted Metrics - Adjusted EBITDA for the third quarter was $2.0 million, or 4.7% of sales, compared to $1.9 million, or 5.4% of sales, for the same period last year[11] - Adjusted EBITDA for the three-month period was $2,048 million, an increase from $1,919 million in the same period last year[23] - Income tax benefit provision for the three-month period was $(504) million, compared to a provision of $74 million in the same period last year[23] - The company recorded a $0.5 million charge related to the closure of its Calgary facility, with expected annual savings of approximately $0.8 million thereafter[2]