Ultralife Corporation Reports Financial Results for Q3 2024

Ultralife Corporation, a Delaware-based company trading on the NASDAQ Stock Market under the symbol ULBI, released its financial results for the third quarter ending September 30, 2024. The company issued a press release on November 8, 2024, detailing its performance during this period.

According to the press release, Ultralife Corporation reported a surge in financial metrics, with a particular highlight being a 25% year-over-year growth in organic Annual Recurring Revenue (ARR). The company’s key performance indicators reflected a positive trend, indicating a resilient growth trajectory across its product lines.

The financial report emphasized the company’s focus on margin expansion, with notable progress shown in the Non-GAAP Subscription Service Gross Margin Percentage and the Non-GAAP Consolidated Gross Margin Percentage. Ultralife Corporation demonstrated tangible improvements in efficiency, as evidenced by a significant 660 basis point margin expansion over the previous year.

Additionally, Ultralife Corporation saw substantial growth in Adjusted EBITDA, a key Non-GAAP financial measure used for evaluating the company’s profitability. The company reported an Adjusted EBITDA of $2.4 million for Q3 2024, marking a stark contrast to the figures from the same period in the previous years.

Ultralife Corporation also highlighted its strategic initiatives, including successful acquisitions and expansions into new markets. The company’s recent acquisition of TASK Group Holdings Limited, an Australia-based global foodservice transaction platform, was cited as a significant move extending Ultralife Corporation’s Total Addressable Market (TAM) into convenience stores and international markets.

Overall, Ultralife Corporation’s financial report for Q3 2024 showcased a robust performance with substantial organic and inorganic growth, margin expansion, and successful strategic initiatives driving profitability and market expansion.

The company’s detailed financial breakdown for the quarter included strong revenue figures across its various offerings, highlighting consistent growth in subscription services and professional services. Ultralife Corporation’s financial report underscored its commitment to sustainable growth, operational efficiency, and strategic acquisitions as key drivers of its success in the marketplace.

This press release is based on Ultralife Corporation’s official 8-K filing with the Securities and Exchange Commission on November 8, 2024.

It should be noted that all forward-looking statements made in this article are subject to risks, uncertainties, and assumptions outlined in the original press release and related documents.

For further detailed financial information and disclosures, interested parties are encouraged to refer to Ultralife Corporation’s SEC filings available to the public.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Ultralife’s 8K filing here.

Ultralife Company Profile

Ultralife Corporation, together with its subsidiaries, designs, manufactures, installs, and maintains power, and communication and electronics systems worldwide. The company operates in two segments, Battery & Energy Products and Communications Systems. The Battery & Energy Products segment offers lithium 9-volt, cylindrical, thin lithium manganese dioxide, rechargeable, and other non-rechargeable batteries; lithium-ion cells, multi-kilowatt module lithium-ion battery systems, and uninterruptable power supplies; and rugged military and commercial battery charging systems and accessories, including smart chargers, multi-bay charging systems, and various cables.