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Ultralife Corporation

NASDAQ•ULBI
CEO: Mr. Michael E. Manna
Sector: Industrials
Industry: Electrical Equipment & Parts
Listing Date: 1992-12-23
Ultralife Corporation, together with its subsidiaries, designs, manufactures, installs, and maintains power, and communication and electronics systems worldwide. The company operates in two segments, Battery & Energy Products and Communications Systems. The Battery & Energy Products segment offers lithium 9-volt, cylindrical, thin lithium manganese dioxide, rechargeable, and other non-rechargeable batteries; lithium-ion cells, multi-kilowatt module lithium-ion battery systems, and uninterruptable power supplies; and rugged military and commercial battery charging systems and accessories, including smart chargers, multi-bay charging systems, and various cables. The Communications Systems segment provides communications systems and accessories to support military communications systems, such as radio frequency amplifiers, power supplies and cables, connector assemblies, amplified speakers, equipment mounts, case equipment, man-portable systems, and integrated communication systems for fixed or vehicle applications comprising vehicle adapters, vehicle installed power enhanced rifleman appliqué systems, and SATCOM systems. This segment's military communications systems and accessories are designed to enhance and extend the operation of communications equipment, such as vehicle-mounted, manpack, and handheld transceivers. The company sells its products under the Ultralife, Ultralife HiRate, Ultralife Thin Cell, Ultralife Batteries, Lithium Power, McDowell Research, AMTITM, ABLETM, ACCUTRONICS, ACCUPRO, ENTELLION, SWE Southwest Electronic Energy Group, SWE SEASAFE, Excell Battery Group, and Criterion Gauge brands through original equipment manufacturers, and industrial and defense supply distributors. In addition, it sells its 9-volt battery to the broader consumer market through national and regional retail chains and online retailers. It serves government, defense, and commercial sectors. The company was incorporated in 1990 and is headquartered in Newark, New York.
Contact Information
2000 Technology Parkway, Newark, NY, 14513, United States
315-332-7100
www.ultralifecorporation.com
Market Cap
$116.76M
P/E (TTM)
-19.8
55.8
Dividend Yield
--
52W High
$9.52
52W Low
$4.07
52W Range
54%
Rank30Top 19.5%
5.1
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 5.1 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q4 2025 Data

Revenue

$48.48M+0.00%
4-Quarter Trend

EPS

-$0.45+0.00%
4-Quarter Trend

FCF

$607.00K+0.00%
4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Total Revenue Increased 16.2% Consolidated revenues reached $191.16M in 2025, marking a 16.2% increase over $164.46M reported for 2024.
Battery Segment Revenue Strong Battery & Energy Products revenue grew 23.6% to $178.04M, driven by strong commercial and defense demand.
Ending Backlog Reached $110.22M Year-end backlog totaled $110.22M as of December 31, 2025, reflecting a 7.9% increase over the prior year.
Cash Position Improved Notably Cash on hand increased to $9.35M by year-end 2025, up from $6.85M in 2024, supporting overall liquidity.

Risk Factors

Material Internal Control Weakness ICFR ineffective due to insufficient accounting personnel and ITGC deficiencies; remediation efforts are currently underway.
High Customer Revenue Concentration Single customer, L3Harris, accounted for 27% of total 2025 revenues, posing a significant concentration risk.
Gross Margin Declined 160 Basis Points Gross margin fell to 24.1% from 25.7% due to unfavorable sales mix, quality issues, and lower factory throughput.
Supply Chain Interruptions Persist Continued risk from sole-source material interruptions and potential rising costs due to tariffs and geopolitical factors.

Outlook

Rebranding Strategy Complete Completed comprehensive rebranding consolidating sub-brands under Ultralife; incurred $12.18M non-cash impairment charge.
R&D Expenditures Expected Higher Future R&D spending, including 2026, is expected to increase by 10% or more over the $12.08M spent in 2025.
Confidence in 2026 Profitability Strong order flow provides confidence for sustainable profitable growth in 2026, enabling debt reduction goals.
Operational Inefficiencies Targeted Decisive actions taken in Q4 2025 to remove structural inefficiencies and realign operations for optimized synergies.

Peer Comparison

Revenue (TTM)

ULBI stock ticker logoULBI
$191.16M
+16.2%
GIFI stock ticker logoGIFI
$166.77M
+0.3%
FLUX stock ticker logoFLUX
$60.78M
-0.0%

Gross Margin (Latest Quarter)

HQI stock ticker logoHQI
57.2%
+0.0pp
ESP stock ticker logoESP
34.7%
+8.6pp
FLUX stock ticker logoFLUX
34.7%
-3.8pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
GIFI$191.98M21.39.7%12.9%
ESP$178.98M17.319.1%0.0%
HQI$143.79M22.69.5%0.0%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-1.5%
Flat Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
100%
Strong Cash Flow

Deep Research

Next earnings:Apr 23, 2026
|
EPS:$0.15
|
Revenue:$52.40M
Financials
Earnings Calls
Reports
News
Income Statement
Balance Sheet
Cash Flow Statement
Ratios
% Chg.
Income Statement
LTM
No Data