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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash $ 8,719 $ 6,854
Trade accounts receivable, net of allowance for expected credit losses of $408 and $384, respectively 36,061 29,370
Inventories, net 47,853 51,363
Prepaid expenses and other current assets 8,836 9,573
Total current assets 101,469 97,160
Property, plant and equipment, net 40,277 40,485
Goodwill 45,141 45,006
Other intangible assets, net 24,185 24,557
Deferred income taxes, net 8,020 8,413
Other noncurrent assets 4,661 4,830
Total assets 223,753 220,451
Current liabilities:    
Accounts payable 16,617 14,160
Current portion of long-term debt 3,094 2,750
Accrued compensation and related benefits 3,207 2,911
Accrued expenses and other current liabilities 8,578 9,470
Total current liabilities 31,496 29,291
Long-term debt, net 50,510 51,502
Deferred income taxes 1,413 1,443
Other noncurrent liabilities 3,730 4,028
Total liabilities 87,149 86,264
Commitments and Contingencies  
Stockholders’ equity:    
Preferred stock – par value $.10 per share; authorized 1,000,000 shares; none issued 0 0
Common stock – par value $.10 per share; authorized 40,000,000 shares; issued – 21,069,079 shares at March 31, 2025 and 21,069,079 shares at December 31, 2024; outstanding – 16,632,965 shares at March 31, 2025 and 16,632,965 shares at December 31, 2024 2,107 2,107
Capital in excess of par value 192,055 191,828
Accumulated deficit (32,577) (34,442)
Accumulated other comprehensive loss (3,695) (4,006)
Treasury stock - at cost; 4,436,114 shares at March 31, 2025 and December 31, 2024 (21,492) (21,492)
Total Ultralife Corporation equity 136,398 133,995
Non-controlling interest 206 192
Total stockholders’ equity 136,604 134,187
Total liabilities and stockholders’ equity $ 223,753 $ 220,451