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Sep 30, 2022
Ultralife Q3 2022 Earnings Report
Reported an operating loss of $0.6 million and adjusted EBITDA of $1.3 million on revenue of $33.2 million.
Key Takeaways
Ultralife Corporation reported a revenue of $33.2 million for the third quarter ended September 30, 2022, representing a 52.7% increase compared to the same period last year. The company experienced an operating loss of $0.6 million and an adjusted EBITDA of $1.3 million.
Government/defense revenue doubled year-over-year.
Total company revenue increased by 53% due to government/defense revenue and the addition of Excell.
Backlog now exceeds $100 million, positioning the company well for near-term revenue increases.
Gross margins and profitability were pressured by production inefficiencies associated with supply chain disruptions and input cost inflation.
Revenue by Segment
Forward Guidance
Ultralife is positioned well for near-term revenue increases and remains committed to advancing several transformational projects and new product opportunities to drive long-term revenue growth.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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