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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash $ 10,941 $ 6,854
Trade accounts receivable, net of allowance for expected credit losses of $XXX and $384, respectively 32,322 29,370
Inventories, net 50,575 51,363
Prepaid expenses and other current assets 5,165 9,573
Total current assets 99,003 97,160
Property, plant and equipment, net 40,614 40,485
Goodwill 45,406 45,006
Other intangible assets, net 23,839 24,557
Deferred income taxes, net 7,688 8,413
Other noncurrent assets 4,411 4,830
Total assets 220,961 220,451
Current liabilities:    
Accounts payable 15,029 14,160
Current portion of long-term debt 3,438 2,750
Accrued compensation and related benefits 2,674 2,911
Accrued expenses and other current liabilities 8,757 9,470
Total current liabilities 29,898 29,291
Long-term debt, net 47,510 51,502
Deferred income taxes 1,400 1,443
Other noncurrent liabilities 3,508 4,028
Total liabilities 82,316 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 – 21,078,446 shares at June 30, 2025 and 21,069,079 shares at December 31, 2024; outstanding – 16,642,332 shares at June 30, 2025 and 16,632,965 shares at December 31, 2024 2,108 2,107
Capital in excess of par value 192,350 191,828
Accumulated deficit (31,698) (34,442)
Accumulated other comprehensive loss (2,820) (4,006)
Treasury stock - at cost; 4,436,114 shares at June 30, 2025 and 4,436,114 shares at December 31, 2024 (21,492) (21,492)
Total Ultralife Corporation equity 138,448 133,995
Non-controlling interest 197 192
Total stockholders’ equity 138,645 134,187
Total liabilities and stockholders’ equity $ 220,961 $ 220,451