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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash $ 9,260 $ 6,854
Trade accounts receivable, net of allowance for expected credit losses of $418 and $384, respectively 30,929 29,370
Inventories, net 52,747 51,363
Prepaid expenses and other current assets 7,683 9,573
Total current assets 100,619 97,160
Property, plant and equipment, net 40,536 40,485
Goodwill 45,336 45,006
Other intangible assets, net 23,407 24,557
Deferred income taxes, net 8,212 8,413
Other noncurrent assets 4,136 4,830
Total assets 222,246 220,451
Current liabilities:    
Accounts payable 14,164 14,160
Current portion of long-term debt 3,781 2,750
Accrued compensation and related benefits 2,935 2,911
Accrued expenses and other current liabilities 12,818 9,470
Total current liabilities 33,698 29,291
Long-term debt, net 46,518 51,502
Deferred income taxes 1,358 1,443
Other noncurrent liabilities 3,239 4,028
Total liabilities 84,813 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 – 21,085,061 shares at September 30, 2025 and 21,069,079 shares at December 31, 2024; outstanding – 16,648,947 shares at September 30, 2025 and 16,632,965 shares at December 31, 2024 2,109 2,107
Capital in excess of par value 192,622 191,828
Accumulated deficit (32,918) (34,442)
Accumulated other comprehensive loss (3,058) (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 137,263 133,995
Non-controlling interest 170 192
Total stockholders’ equity 137,433 134,187
Total liabilities and stockholders’ equity $ 222,246 $ 220,451