ULBI (ULBI) financial statements
ULBI reported revenue of $191M in fiscal 2025, up 9.8% a year over 9 years.
Net income was -$6M and the operating margin -3.1%, against 4.6% in 2016.
Free cash flow was $7M.
The diluted share count rose 8% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from ULBI's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $82M | $86M | $87M | $107M | $108M | $98M | $132M | $159M | $164M | $191M |
| Cost of revenue | $57M | $59M | $62M | $76M | $79M | $74M | $102M | $119M | $122M | $145M |
| Gross profit | $25M | $26M | $26M | $31M | $29M | $25M | $29M | $39M | $42M | $46M |
| Research and development | $6M | $5M | $5M | $7M | $6M | $7M | $7M | $8M | $8M | $10M |
| Selling, general and admin | $15M | $15M | $15M | $17M | $18M | $18M | $22M | $22M | $24M | $29M |
| Operating income | $4M | $6M | $7M | $7M | $6M | $35,000 | $129,000 | $9M | $10M | -$6M |
| Interest expense | $263,000 | $183,000 | $63,000 | $539,000 | $436,000 | $242,000 | $951,000 | $2M | $2M | $4M |
| Pre-tax income | $4M | $6M | $7M | $7M | $7M | -$151,000 | -$446,000 | $9M | $8M | -$8M |
| Income tax | $98,000 | -$1M | -$18M | $1M | $2M | $79,000 | -$326,000 | $2M | $2M | -$2M |
| Net income | $4M | $8M | $25M | $5M | $5M | -$234,000 | -$119,000 | $7M | $6M | -$6M |
| EPS (diluted) | $0.23 | $0.48 | $1.53 | $32.00 | $0.33 | $0.05 | $0.05 | $0.44 | $38.00 | -$35.00 |
| Diluted shares | 15M | 16M | 16M | 16M | 16M | 16M | 16M | 16M | 17M | 17M |
| Gross margin | 30.4% | 30.7% | 29.3% | 29.2% | 27.1% | 25.1% | 22.3% | 24.7% | 25.7% | 24.1% |
| Operating margin | 4.6% | 7.6% | 7.5% | 6.9% | 5.3% | 0.0% | 0.1% | 6.0% | 6.1% | -3.1% |
| Net margin | 4.3% | 8.9% | 28.6% | 4.9% | 4.9% | -0.2% | -0.1% | 4.5% | 3.8% | -3.1% |
Balance sheet
Fiscal years, from ULBI's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $11M | $18M | $26M | $7M | $11M | $8M | $6M | $10M | $7M | $9M |
| Receivables | $13M | $15M | $16M | $30M | $21M | $20M | $28M | $32M | $29M | $34M |
| Inventory | $23M | $26M | $23M | $30M | $28M | $33M | $41M | $42M | $51M | $54M |
| Total current assets | $49M | $62M | $67M | $70M | $64M | $67M | $79M | $90M | $97M | $106M |
| Property, plant and equipment | $8M | $8M | $11M | $23M | $23M | $23M | $22M | $21M | $40M | $40M |
| Goodwill | $20M | $20M | $20M | $27M | $27M | $38M | $37M | $38M | $45M | $45M |
| Total assets | $85M | $97M | $121M | $145M | $138M | $160M | $168M | $178M | $220M | $217M |
| Total current liabilities | $11M | $14M | $15M | $17M | $19M | $19M | $29M | $24M | $29M | $37M |
| Long-term debt | — | — | — | $16M | $0 | $19M | $19M | $24M | $52M | $46M |
| Total liabilities | $17M | $18M | $16M | $35M | $21M | $42M | $52M | $53M | $86M | $87M |
| Shareholders' equity | $68M | $79M | $105M | $110M | $117M | $118M | $116M | $125M | $134M | $130M |
| Net debt | -$11M | -$18M | -$26M | $10M | -$9M | $12M | $16M | $15M | $47M | $40M |
Cash flow
Fiscal years, from ULBI's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $8M | $7M | $11M | -$3M | $22M | $4M | -$1M | $2M | $17M | $11M |
| Capital spending | $1M | $1M | $4M | $6M | $3M | $3M | $2M | $3M | $2M | $4M |
| Free cash flow | $6M | $6M | $7M | -$9M | $19M | $2M | -$3M | -$623,000 | $15M | $7M |
| Stock-based compensation | $710,000 | $653,000 | $890,000 | $753,000 | $943,000 | $671,000 | $776,000 | $528,000 | $698,000 | $935,000 |
| Share buybacks (net) | -$607,000 | — | -$742,000 | -$2M | $0 | — | — | — | — | — |
| Net borrowing | $3M | — | — | — | — | — | — | — | — | — |
| Free cash flow margin | 7.8% | 6.9% | 7.7% | -8.7% | 17.3% | 1.5% | -2.2% | -0.4% | 8.9% | 3.7% |
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Open ULBI in InvestinglyQuestions
What was ULBI's revenue in 2025?
$191M in fiscal 2025, from its 10-K filing.
How much free cash flow does ULBI generate?
$7M in fiscal 2025 (operating cash flow minus capital spending).
From ULBI's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.