ULTRALIFE CORP
For the period ended Aug 7, 2025. Filed Aug 7, 2025.
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Aug 7, 2025 · Filed Aug 7, 2025
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Contents
EX-99.1 · Adjusted EBITDA
Adjusted EBITDA
In evaluating our business, we consider and use adjusted EBITDA, a non-GAAP financial measure, as a supplemental measure of our operating performance in addition to GAAP financial measures. We define adjusted EBITDA as net income attributable to Ultralife Corporation before net interest expense, provision for income taxes, depreciation and amortization, and stock-based compensation expense, plus/minus expense/income that we do not consider reflective of our ongoing continuing operations. We reconcile adjusted EBITDA to net income attributable to Ultralife Corporation, the most comparable financial measure under GAAP. Neither current nor potential investors in our securities should rely on adjusted EBITDA as a substitute for any GAAP measures and we encourage investors to review the following reconciliation of adjusted EBITDA to net income attributable to Ultralife Corporation.
ULTRALIFE CORPORATION AND SUBSIDIARIES
CALCULATION OF ADJUSTED EBITDA
(Dollars in Thousands)
(Unaudited)
| Three-Month Period Ended | Six-Month Period Ended | |||
|---|---|---|---|---|
| June 30, 2025 | June 30, 2024 | June 30, 2025 | June 30, 2024 | |
| Net Income Attributable to Ultralife Corporation | $879 | $2,969 | $2,744 | $5,860 |
| Adjustments: | ||||
| Interest Expense, Net | 992 | 418 | 2,024 | 938 |
| Income Tax Provision | 243 | 853 | 810 | 1,556 |
| Depreciation Expense | 1,008 | 789 | 1,958 | 1,529 |
| Amortization Expense | 410 | 227 | 815 | 455 |
| Stock-Based Compensation Expense | 235 | 159 | 462 | 320 |
| Severance Cost for Plant Closure | - | - | 150 | - |
| Acquisition and Other Non-Recurring Costs | 326 | - | 518 | - |
| Non-Cash Purchase Accounting Adjustment | 20 | - | 80 | - |
| Adjusted EBITDA | $4,113 | $5,415 | $9,561 | $10,658 |
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