$ULBI
ULTRALIFE CORP

2022 Q4 Form 10-Q Financial Statement

#000143774922024878 Filed on October 27, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3
Revenue $36.11M $33.23M
YoY Change 51.95% 52.72%
Cost Of Revenue $28.03M $26.52M
YoY Change 51.71% 59.24%
Gross Profit $8.081M $6.715M
YoY Change 52.79% 31.46%
Gross Profit Margin 22.38% 20.21%
Selling, General & Admin $6.208M $5.405M
YoY Change 30.28% 29.8%
% of Gross Profit 76.82% 80.49%
Research & Development $1.656M $1.896M
YoY Change 4.94% 10.04%
% of Gross Profit 20.49% 28.24%
Depreciation & Amortization $1.040M $815.0K
YoY Change 12.92% 16.43%
% of Gross Profit 12.87% 12.14%
Operating Expenses $7.864M $7.301M
YoY Change 20.65% 24.02%
Operating Profit $217.0K -$586.0K
YoY Change -117.66% -24.78%
Interest Expense -$368.0K -$272.0K
YoY Change 371.79% 413.21%
% of Operating Profit -169.59%
Other Income/Expense, Net -$597.0K $254.0K
YoY Change 1765.63% 25300.0%
Pretax Income -$380.0K -$332.0K
YoY Change -71.62% -57.33%
Income Tax -$155.0K -$90.00K
% Of Pretax Income
Net Earnings -$224.0K -$239.0K
YoY Change -80.19% -59.15%
Net Earnings / Revenue -0.62% -0.72%
Basic Earnings Per Share $0.03
Diluted Earnings Per Share -$0.01 $0.03
COMMON SHARES
Basic Shares Outstanding 16.13M 16.13M
Diluted Shares Outstanding 16.13M

Balance Sheet

Concept 2022 Q4 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.713M $5.051M
YoY Change -32.09% -68.14%
Cash & Equivalents $5.634M $4.978M
Short-Term Investments
Other Short-Term Assets $4.304M $6.241M
YoY Change -8.23% 46.13%
Inventory $41.19M $40.77M
Prepaid Expenses
Receivables $27.78M $26.88M
Other Receivables $0.00 $0.00
Total Short-Term Assets $78.99M $78.94M
YoY Change 18.74% 22.31%
LONG-TERM ASSETS
Property, Plant & Equipment $21.72M $21.90M
YoY Change -6.42% -4.94%
Goodwill $37.43M $37.07M
YoY Change -1.68% 37.29%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $14.38M $1.981M
YoY Change 399.37% 9.09%
Total Long-Term Assets $89.44M $89.00M
YoY Change -3.84% 23.15%
TOTAL ASSETS
Total Short-Term Assets $78.99M $78.94M
Total Long-Term Assets $89.44M $89.00M
Total Assets $168.4M $167.9M
YoY Change 5.57% 22.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $16.07M $15.83M
YoY Change 63.64% 71.92%
Accrued Expenses $10.84M $10.25M
YoY Change 52.64% 41.85%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $2.000M $2.000M
YoY Change 0.0% 690.51%
Total Short-Term Liabilities $28.91M $28.08M
YoY Change 52.78% 68.27%
LONG-TERM LIABILITIES
Long-Term Debt $19.31M $20.87M
YoY Change 2.4%
Other Long-Term Liabilities $1.887M $1.673M
YoY Change 7.22% 51.68%
Total Long-Term Liabilities $21.20M $22.55M
YoY Change 2.81% 1944.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $28.91M $28.08M
Total Long-Term Liabilities $21.20M $22.55M
Total Liabilities $52.15M $52.62M
YoY Change 24.78% 188.1%
SHAREHOLDERS EQUITY
Retained Earnings -$47.95M -$47.73M
YoY Change 0.25% 2.2%
Common Stock $2.057M $2.057M
YoY Change 0.24% 0.29%
Preferred Stock
YoY Change
Treasury Stock (at cost) $21.48M $21.48M
YoY Change 0.07% 0.05%
Treasury Stock Shares $4.435M $4.435M
Shareholders Equity $116.3M $115.2M
YoY Change
Total Liabilities & Shareholders Equity $168.4M $167.9M
YoY Change 5.57% 22.75%

Cashflow Statement

Concept 2022 Q4 2022 Q3
OPERATING ACTIVITIES
Net Income -$224.0K -$239.0K
YoY Change -80.19% -59.15%
Depreciation, Depletion And Amortization $1.040M $815.0K
YoY Change 12.92% 16.43%
Cash From Operating Activities $2.564M -$427.0K
YoY Change -161.98% -128.33%
INVESTING ACTIVITIES
Capital Expenditures $283.0K -$811.0K
YoY Change -157.76% -26.21%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$283.0K -$811.0K
YoY Change -98.82% -26.21%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.579M 1.303M
YoY Change -107.67% -430.71%
NET CHANGE
Cash From Operating Activities 2.564M -427.0K
Cash From Investing Activities -283.0K -811.0K
Cash From Financing Activities -1.579M 1.303M
Net Change In Cash 702.0K 65.00K
YoY Change -109.28% 364.29%
FREE CASH FLOW
Cash From Operating Activities $2.564M -$427.0K
Capital Expenditures $283.0K -$811.0K
Free Cash Flow $2.281M $384.0K
YoY Change -162.54% -85.26%

Facts In Submission

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ULTRALIFE CORPORATION
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dei Security12b Title
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dei Trading Symbol
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dei Security Exchange Name
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CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
28454000 usd
CY2022Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
28485000 usd
CY2021Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
21660000 usd
CY2022Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
3215000 usd
CY2021Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
4227000 usd
CY2022Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
9069000 usd
CY2021Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
7302000 usd
CY2022Q3 us-gaap Inventory Net
InventoryNet
40769000 usd
CY2021Q4 us-gaap Inventory Net
InventoryNet
33189000 usd
CY2022Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
91897000 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
91423000 usd
CY2022Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
69999000 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
68218000 usd
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
21898000 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
23205000 usd
CY2022Q3 us-gaap Depreciation
Depreciation
815000 usd
CY2021Q3 us-gaap Depreciation
Depreciation
700000 usd
us-gaap Depreciation
Depreciation
2450000 usd
us-gaap Depreciation
Depreciation
2160000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
11500
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
4.49
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
59500
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
3.82
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
56748
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
6.63
CY2021Q4 us-gaap Goodwill
Goodwill
38068000 usd
us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
-30000 usd
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-972000 usd
CY2022Q3 us-gaap Goodwill
Goodwill
37066000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
11064000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
17390000 usd
CY2022Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
318000 usd
CY2021Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
148000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
969000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
458000 usd
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
179000 usd
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
142000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
552000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
512000 usd
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1306824
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.87
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1202076
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.01
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y9M21D
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
70000 usd
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
1119892
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
7.04
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P3Y8M1D
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
70000 usd
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
803774
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
7.22
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P2Y9M25D
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
67000 usd
CY2022Q3 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3000 usd
CY2021Q3 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
84000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
116000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
398000 usd
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.244 pure
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
216000 usd
CY2021Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
188000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
674000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
564000 usd
CY2022Q3 us-gaap Variable Lease Cost
VariableLeaseCost
22000 usd
CY2021Q3 us-gaap Variable Lease Cost
VariableLeaseCost
25000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
69000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
57000 usd
CY2022Q3 us-gaap Lease Cost
LeaseCost
238000 usd
CY2021Q3 us-gaap Lease Cost
LeaseCost
213000 usd
us-gaap Lease Cost
LeaseCost
743000 usd
us-gaap Lease Cost
LeaseCost
621000 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
74504000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
676000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
550000 usd
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y2M12D
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y6M
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.045 pure
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.045 pure
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
212000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
840000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
430000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
128000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
129000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
129000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
264000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2132000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
244000 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
74504000 usd
CY2021Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
133000 usd
CY2020Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
149000 usd
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
247000 usd
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
123000 usd
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
94000 usd
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
143000 usd
CY2022Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
286000 usd
CY2021Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
129000 usd
CY2022Q3 us-gaap Revenues
Revenues
33234000 usd
CY2022Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-586000 usd
CY2022Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
254000 usd
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-90000 usd
CY2022Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-3000 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-239000 usd
CY2021Q3 us-gaap Revenues
Revenues
21761000 usd
CY2021Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-779000 usd
CY2021Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
1000 usd
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-175000 usd
CY2021Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-18000 usd
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-585000 usd
us-gaap Revenues
Revenues
95733000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-88000 usd
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
22000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-171000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-0 usd
us-gaap Net Income Loss
NetIncomeLoss
105000 usd
us-gaap Revenues
Revenues
74504000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
1264000 usd
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-76000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
290000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1000 usd
us-gaap Net Income Loss
NetIncomeLoss
897000 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
33234000 usd
CY2021Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
21761000 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
95733000 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
33234000 usd
CY2021Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
21761000 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
95733000 usd

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