Ultralife Corp
NASDAQ:ULBI
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Ultralife Corp
NASDAQ:ULBI
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US |
Ultralife Corp
Ultralife Corp. engages in the manufacture and sale of products for power solutions. The company is headquartered in Newark New York, New York and currently employs 560 full-time employees. Its designs and manufactures power and communications systems, including rechargeable and non-rechargeable batteries, charging systems, communications and electronics systems and accessories, and custom engineered systems related to those product lines. Its segments include Battery & Energy Products and Communications Systems. The Battery & Energy Products segment includes lithium 9-volt, cylindrical, thin cell and other non-rechargeable batteries, in addition to rechargeable batteries, uninterruptable power supplies, charging systems and accessories. The Communications Systems segment includes radio frequency amplifiers, power supplies, cable and connector assemblies, amplified speakers, equipment mounts, case equipment, man-portable systems, integrated communication systems for fixed or vehicle applications and communications and electronics systems design.
Ultralife Corp. engages in the manufacture and sale of products for power solutions. The company is headquartered in Newark New York, New York and currently employs 560 full-time employees. Its designs and manufactures power and communications systems, including rechargeable and non-rechargeable batteries, charging systems, communications and electronics systems and accessories, and custom engineered systems related to those product lines. Its segments include Battery & Energy Products and Communications Systems. The Battery & Energy Products segment includes lithium 9-volt, cylindrical, thin cell and other non-rechargeable batteries, in addition to rechargeable batteries, uninterruptable power supplies, charging systems and accessories. The Communications Systems segment includes radio frequency amplifiers, power supplies, cable and connector assemblies, amplified speakers, equipment mounts, case equipment, man-portable systems, integrated communication systems for fixed or vehicle applications and communications and electronics systems design.
Revenue: Q4 revenue was $48.5 million, up 10.6% year-over-year; full-year 2025 revenue was $191.2 million.
Profitability hit: GAAP operating loss of $10.6 million in Q4 driven by a $12.2 million noncash intangible asset impairment, producing a Q4 net loss of $7.4 million, or $0.45 per share.
Backlog: Backlog grew to $110.2 million exiting Q4 (up $20 million sequentially) and management expects virtually all of it to ship in 2026.
Segment dynamics: Battery & Energy performed strongly (Q4 sales $45.9M, +15.1% YoY) while Communications Systems remains depressed (Q4 sales $2.6M, -35.2% YoY) with a planned rebound in 2026.
Margins & ops: Consolidated gross margin improved to 24.9% (up 70 bps YoY); Battery gross margin improved to 25.1% (up 170 bps) but management is executing operational initiatives to further improve Newark yields and overall gross margins.
New products: Over $30 million of 5-year-or-newer products contributed to FY sales; more new Comm and Battery products (thin cell, wearable, medical cart power, A-2303 amplifier) expected to ramp through 2026.
Financial health: Adjusted EBITDA for the quarter was $5.7 million (11.7% of sales); working capital $68.5 million and current ratio 2.8; acquisition debt principal reduced by $4.8 million in 2025.
