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Extra Everything: The Story of Chipotle
Chipotle's story from a single restaurant to a nationwide chain, through crisis and turnaround, built on one of the strongest models in the industry.
Ultralife
Ultralife (ULBI) investor relations material
Ultralife Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary8 May, 2026
Executive summary
Q1 2026 revenue was $47.4 million, down 6.5% year-over-year, with both Battery & Energy Products and Communications Systems segments experiencing lower sales.
Gross profit margin fell to 21.3% from 25.1% year-over-year, impacted by unfavorable product mix, higher utility costs, and production disruptions.
Net loss attributable to shareholders was $0.5 million, or $(0.03) per share, compared to net income of $1.9 million, or $0.11 per share, in the prior year.
Adjusted EBITDA was $3.2 million (6.8% of sales), down from $5.4 million (10.7%) year-over-year.
Backlog reached a record $115.1 million, up 21.1% year-over-year, with over $12 million from new products released in the past year.
Financial highlights
Battery & Energy Products segment revenue was $44.2 million, down 4.7% year-over-year; medical sales increased 5.9%.
Communications Systems segment revenue was $3.3 million, down 25.7% year-over-year, mainly due to lower shipments to a major international defense contractor.
Consolidated gross profit was $10.1 million, down from $12.7 million year-over-year; gross margin declined to 21.3% from 25.1%.
Operating expenses rose to $10.3 million (21.8% of revenue), up 10.5% year-over-year, driven by higher R&D, consulting, litigation, and transition costs.
Cash at quarter-end was $8.9 million, down from $9.3 million at year-end 2025.
Outlook and guidance
Focused on improving manufacturing efficiency, Communications Systems revenue capture, gross margin in Battery & Energy Products, and vertical integration.
Expecting mid-year improvements from corrective actions on scrap and process enhancements.
Execution and replenishment of backlog expected to support cash flow, debt reduction, and strategic investments in 2026.
Continued investment in new product development and branding alignment to drive future growth.
Positive operating cash flow and available credit are expected to meet funding needs for the foreseeable future.
Status of Raynham inventory integration efforts
Timeline for converting record backlog to revenue
Expected 2026 45X tax credit contribution
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Latest events from Ultralife
- Q4 revenue up 10.6% year-over-year; impairment led to net loss, but backlog and new products support 2026 growth.ULBI
Q4 202510 Mar 2026 - Q2 revenue up 13% to $48.6M, but margins and net income declined; outlook for H2 is positive.ULBIQ2 20253 Feb 2026
- Record segment sales, margin gains, and major debt reduction highlight Q2 2024.ULBIQ2 20243 Feb 2026
- Q3 revenue and profit declined, but debt reduction and a $50M acquisition set up future growth.ULBIQ3 202415 Jan 2026
- Q4 revenue was $43.9M, with Electrochem acquisition and strong backlog driving 2025 growth.ULBIQ4 202424 Dec 2025
- Director elections, auditor ratification, and governance updates highlight the 2025 proxy.ULBIProxy Filing1 Dec 2025
- Vote on director elections and auditor ratification at the July 16, 2025 annual meeting.ULBIProxy Filing1 Dec 2025
- Q1 2025 revenue up 21% to $50.7M, but net income and margins declined on higher costs.ULBIQ1 202526 Nov 2025
- Q3 2025 revenue up 21.5% to $43.4M, but net loss of $1.22M on lower margins and one-time costs.ULBIQ3 202519 Nov 2025
Next Ultralife earnings date
Q2 20266 Aug, 2026
Ultralife
Next Ultralife earnings date
Q2 20266 Aug, 2026
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