ULBI on Nasdaq
Ultralife Corporation
American industrial electrical equipment manufacturer
Ultralife Corporation designs and manufactures batteries and communications systems worldwide. Ultralife serves government and defense, medical, safety and security, energy, robotics and other customers across the globe through the design and development of a range of products.3 From Wikipedia, CC BY-SA 4.0
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Last updated Oct 18, 2026.
Overview
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- TickerULBI on Nasdaq1
- IndustryMiscellaneous Electrical Machinery, Equipment & Supplies1
- HeadquartersNewark1
- Websiteultralifecorporation.com
- Legal formpublic company1
- Incorporated inDE4
- Business address2000 Technology Parkway, Newark, Ny 145134
- Filer categoryAccelerated filer, Smaller reporting company4
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Ultralife Corporation designs and manufactures batteries and communications systems worldwide. Ultralife serves government and defense, medical, safety and security, energy, robotics and other customers across the globe through the design and development of a range of products. Founded in 1991 when launched as an Initial Public Offering (IPO) evolving from Kodak’s Ultra Technologies battery division, and headquartered in Newark, New York, the Company’s business segments include battery and energy products and communications systems.3
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Business segments
Battery & Energy Products brought in 93% of the revenue Ultralife Corporation broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2024 | 2025 |
|---|---|---|
| Battery & Energy Products | $144.1M | $178.0M |
| Communications Systems | $20.4M | $13.1M |
Regions
United States brought in 72% of the revenue Ultralife Corporation broke down this way in fiscal 2025.
Regions by year
| Regions | 2024 | 2025 |
|---|---|---|
| United States | $97.0M | $137.1M |
| Outside the United States | $67.4M | $54.1M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue76¢$145.1M
- Research and development5¢$10.4M
- Selling, general and admin15¢$29.3M
- Other costs2¢$3.8M
- Income tax1¢$2.4M
Out of $191.2M in revenue.6 The company lost money this year.
Where each dollar of operating cash went, fiscal 2025
- Capital spending35¢$3.9M
- Kept or used elsewhere65¢$7.1M
Out of $11.0M of cash from operations.6
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.6
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Revenues | $191.2M | $164.5M |
| Cost of products sold | $145.1M | $122.1M |
| Gross profit | $46.0M | $42.3M |
| Research and development | $10.4M | $8.3M |
| Selling, general and administrative | $29.3M | $24.1M |
| Intangible asset impairment | -$12.2M | $0 |
| Total operating expenses | $51.9M | $32.3M |
| Operating (loss) income | -$5.9M | $10.0M |
| Interest and financing expense | $4.0M | $1.9M |
| Miscellaneous income | -$1.5M | -$276.0K |
| Total other expense, net | $2.5M | $1.7M |
| (Loss) income before income taxes | -$8.4M | $8.3M |
| Income tax (benefit) provision | -$2.4M | $1.9M |
| Net (loss) income | -$6.0M | $6.4M |
| Net (loss) income attributable to non-controlling interest | -$53.0K | $97.0K |
| (Loss) income attributable to Ultralife Corporation | -$5.9M | $6.3M |
| Foreign currency translation adjustments | $865.0K | -$346.0K |
| Comprehensive (loss) income attributable to Ultralife Corporation | -$5.0M | $6.0M |
| Net (loss) income per share attributable to Ultralife Corporation common stockholders Basic (in dollars per share) | -$35.00 | $38.00 |
| Net (loss) income per share attributable to Ultralife Corporation common stockholders Diluted (in dollars per share) | -$35.00 | $38.00 |
| Weighted average shares outstanding Basic (in shares) | 16.6M shares | 16.6M shares |
| Weighted average shares outstanding Diluted (in shares) | 16.6M shares | 16.8M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash | $9.3M | $6.9M | |
| Trade accounts receivable, net of allowance for expected credit losses of $457 and $384, respectively | $33.9M | $29.4M | |
| Inventories, net | $54.0M | $51.4M | |
| Prepaid expenses and other current assets | $8.5M | $9.6M | |
| Total current assets | $105.8M | $97.2M | |
| Property, plant and equipment, net | $40.4M | $40.5M | |
| Goodwill | $45.4M | $45.0M | |
| Other intangible assets, net | $10.9M | $24.6M | |
| Deferred income taxes, net | $10.5M | $8.4M | |
| Other noncurrent assets | $3.9M | $4.8M | |
| Total assets | $216.9M | $220.5M | |
| Accounts payable | $17.4M | $14.2M | |
| Current portion of long-term debt | $4.1M | $2.8M | |
| Accrued compensation and related benefits | $2.8M | $2.9M | |
| Accrued expenses and other current liabilities | $13.0M | $9.5M | |
| Total current liabilities | $37.3M | $29.3M | |
| Long-term debt, net | $45.5M | $51.5M | |
| Deferred income taxes | $1.0M | $1.4M | |
| Other noncurrent liabilities | $2.9M | $4.0M | |
| Total liabilities | $86.8M | $86.3M | |
| 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 21,092,617 shares and 21,069,079 shares, respectively; outstanding 16,656,503 shares and 16,632,965 shares, respectively | $2.1M | $2.1M | |
| Capital in excess of par value | $192.9M | $191.8M | |
| Accumulated deficit | -$40.3M | -$34.4M | |
| Accumulated other comprehensive loss | -$3.1M | -$4.0M | |
| Treasury stock - at cost; 4,436,114 shares and 4,436,114 shares, respectively | -$21.5M | -$21.5M | |
| Total Ultralife Corporation equity | $130.0M | $134.0M | |
| Non-controlling interest | $139.0K | $192.0K | |
| Total stockholders equity | $130.1M | $134.2M | $125.4M |
| Total liabilities and stockholders equity | $216.9M | $220.5M | |
| Trade accounts receivable, allowance for doubtful accounts | $457.0K | $384.0K | |
| Preferred stock, par value (in dollars per share) | $0.10 | $0.10 | |
| Preferred Stock, Shares Authorized (in shares) | 1.0M shares | 1.0M shares | |
| Preferred Stock, Shares Issued (in shares) | 0 shares | 0 shares | |
| Common stock, par value (in dollars per share) | $0.10 | $0.10 | |
| Common Stock, Shares Authorized (in shares) | 40.0M shares | 40.0M shares | |
| Common stock, shares issued (in shares) | 21.1M shares | 21.1M shares | |
| Common stock, shares outstanding (in shares) | 16.7M shares | 16.6M shares | |
| Treasury Stock, Common, Shares (in shares) | 4.4M shares | 4.4M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash | $9.3M | $6.9M | |
| Trade accounts receivable, net of allowance for expected credit losses of $457 and $384, respectively | $33.9M | $29.4M | |
| Inventories, net | $54.0M | $51.4M | |
| Prepaid expenses and other current assets | $8.5M | $9.6M | |
| Total current assets | $105.8M | $97.2M | |
| Property, plant and equipment, net | $40.4M | $40.5M | |
| Goodwill | $45.4M | $45.0M | |
| Other intangible assets, net | $10.9M | $24.6M | |
| Deferred income taxes, net | $10.5M | $8.4M | |
| Other noncurrent assets | $3.9M | $4.8M | |
| Total assets | $216.9M | $220.5M | |
| Accounts payable | $17.4M | $14.2M | |
| Current portion of long-term debt | $4.1M | $2.8M | |
| Accrued compensation and related benefits | $2.8M | $2.9M | |
| Accrued expenses and other current liabilities | $13.0M | $9.5M | |
| Total current liabilities | $37.3M | $29.3M | |
| Long-term debt, net | $45.5M | $51.5M | |
| Deferred income taxes | $1.0M | $1.4M | |
| Other noncurrent liabilities | $2.9M | $4.0M | |
| Total liabilities | $86.8M | $86.3M | |
| 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 21,092,617 shares and 21,069,079 shares, respectively; outstanding 16,656,503 shares and 16,632,965 shares, respectively | $2.1M | $2.1M | |
| Capital in excess of par value | $192.9M | $191.8M | |
| Accumulated deficit | -$40.3M | -$34.4M | |
| Accumulated other comprehensive loss | -$3.1M | -$4.0M | |
| Treasury stock - at cost; 4,436,114 shares and 4,436,114 shares, respectively | -$21.5M | -$21.5M | |
| Total Ultralife Corporation equity | $130.0M | $134.0M | |
| Non-controlling interest | $139.0K | $192.0K | |
| Total stockholders equity | $130.1M | $134.2M | $125.4M |
| Total liabilities and stockholders equity | $216.9M | $220.5M | |
| Trade accounts receivable, allowance for doubtful accounts | $457.0K | $384.0K | |
| Preferred stock, par value (in dollars per share) | $0.10 | $0.10 | |
| Preferred Stock, Shares Authorized (in shares) | 1.0M shares | 1.0M shares | |
| Preferred Stock, Shares Issued (in shares) | 0 shares | 0 shares | |
| Common stock, par value (in dollars per share) | $0.10 | $0.10 | |
| Common Stock, Shares Authorized (in shares) | 40.0M shares | 40.0M shares | |
| Common stock, shares issued (in shares) | 21.1M shares | 21.1M shares | |
| Common stock, shares outstanding (in shares) | 16.7M shares | 16.6M shares | |
| Treasury Stock, Common, Shares (in shares) | 4.4M shares | 4.4M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.6
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net income | -$6.0M | $6.4M |
| Depreciation | $4.0M | $3.1M |
| Amortization of intangible assets | $1.5M | $1.0M |
| Intangible asset impairment | $12.2M | $0 |
| Amortization of financing fees | $265.0K | $91.0K |
| Debt modification expense | $0 | $162.0K |
| Stock-based compensation | $935.0K | $698.0K |
| Deferred income tax expense | -$2.5M | $1.2M |
| Accounts receivable | -$4.4M | $7.6M |
| Inventories | -$2.3M | -$109.0K |
| Prepaid expenses and other assets | $1.7M | -$3.8M |
| Income taxes receivable and payable | -$170.0K | -$64.0K |
| Accounts payable and other liabilities | $5.8M | $215.0K |
| Net cash provided by operating activities | $11.0M | $16.6M |
| Purchase of Electrochem | $0 | -$48.0M |
| Purchases of property, plant and equipment | -$3.9M | -$1.9M |
| Net cash used in investing activities | -$3.9M | -$50.0M |
| Borrowings on credit facility | $0 | $55.0M |
| Payment of debt issuance costs | $24.0K | $1.4M |
| Proceeds from exercise of stock options | $98.0K | $2.0M |
| Net cash used in financing activities | -$4.7M | $29.9M |
| Effect of exchange rate changes on cash | $49.0K | $34.0K |
| INCREASE (DECREASE) IN CASH | $2.5M | -$3.4M |
| Construction in process in accounts payable | $424.0K | $248.0K |
| Income taxes paid | $147.0K | $722.0K |
| Interest paid | $3.7M | $1.9M |
No quarter-by-quarter statement was filed.
Leadership
Who has led Ultralife Corporation, and when. Pick a name to see everywhere that person has worked.
Chief financial officer
Chief operating officer
- Chief executive officerMichael Edward Manna Dec 15, 2022 to now14
- Chief executive officerMichael D. Popielec Jan 3, 2011 to Dec 21, 202115
- Chief executive officerJohn D. Kavazanjian Mar 27, 2006 to Mar 3, 201016
- PresidentMichael Edward Manna Dec 15, 2022 to now14
- PresidentMichael D. Popielec Jan 3, 2011 to Dec 21, 202115
- PresidentJohn D. Kavazanjian Mar 27, 2006 to Mar 3, 201016
- Chief financial officerPhilip A. Fain Jun 3, 2016 to Apr 19, 202417
- Chief financial officerJohn Charles Casper Jun 4, 2009 to Jun 11, 200918
- Chief financial officerRobert W. Fishback Jan 3, 2006 to Apr 22, 200919
- Chief operating officerWilliam A. Schmitz Jan 3, 2006 to Apr 16, 200920
Board members and other officers (21)
- Vice PresidentPhilip A. Fain Mar 10, 2008 to Mar 9, 201521
- VP of Corporate MarketingJulius M. Cirin Jan 3, 2006 to Mar 3, 201022
- VP of Sales & MarketingNancy C. Naigle Jan 3, 2006 to Apr 3, 200623
- VP Corporate Business StrategyPatrick R. Hanna Jr. Jan 3, 2006 to Dec 7, 201024
- Vice President of QualityAndrew J. Naukam Jun 12, 2006 to Mar 4, 200925
- Vice PresidentThomas E. Hauke Jul 11, 2006 to Sep 12, 200626
- Board memberJanie Goddard Mar 1, 2023 to now27
- Board memberMichael Edward Manna Dec 15, 2022 to now14
- Board memberMichael D. Popielec Jan 3, 2011 to Dec 21, 202115
- Board memberJames A. Croce Jun 9, 2010 to Nov 15, 201228
- Board memberW. Shaw Robert Jun 9, 2010 to now29
- Board memberBradford T. Whitmore Jul 5, 2007 to now30
- Board memberAnthony J. Cavanna Jan 3, 2006 to May 17, 201031
- Board memberCarl H. Rosner Jan 3, 2006 to Apr 3, 200632
- Board memberDaniel W. Christman Jan 3, 2006 to Feb 22, 201033
- Board memberPatricia C. Barron Jan 3, 2006 to Nov 15, 201234
- Board memberPaula H. Cholmondeley Jan 3, 2006 to May 17, 201035
- Board memberRanjit C. Singh Jan 3, 2006 to Aug 18, 201436
- Board memberJohn D. Kavazanjian Mar 27, 2006 to Mar 3, 201016
- Board memberCarole Lewis Anderson Jun 12, 2006 to May 17, 201037
- General counselPeter F. Comeford Jan 3, 2006 to Dec 13, 201138
Products and brands
Battery and energy products
This segment manufactures and markets Lithium Manganese Dioxide (Li-MnO2), Lithium Manganese Dioxide Carbon Monofluoride (Li-CFx/MnO2) hybrid and Lithium Thionyl Chloride (Li-SOCl2) non-rechargeable batteries including 9-volt, HiRate cylindrical, ThinCell, and others. Applications for its 9-volt batteries include smoke alarms, wireless security systems, and intensive care monitors. Its HiRate and ThinCell Lithium non-rechargeable batteries are sold primarily to the military and to OEMs in industrial markets for use in radios, emergency radio beacons, search and rescue transponders, pipeline inspection gauges, portable medical devices and other instruments and applications. Military applications for its non-rechargeable HiRate batteries include manpack and survival radios, night vision devices, targeting devices, chemical agent monitors, and thermal imaging equipment.
Communications systems
Under McDowell Research and AMTI brands, this segment designs and manufactures a line of communications systems and accessories for the military. All systems are packaged to meet customer needs in rugged enclosures to allow for their use in extreme environments. The segment markets these products to all permitted branches of the U.S. military and foreign defense organizations, as well as U.S. and international defense contractors.
From Wikipedia’s article on Ultralife Corporation, shared under CC BY-SA 4.0.5
Employees over time
- 20195731
Former names
- ULTRALIFE BATTERIES INCOct 6, 1995 to Jun 4, 20084
Timeline
Filings
160 filings to the SEC since October 2021: 10 annual reports, 15 quarterly reports, 37 major events, 65 insider forms, 10 large holders, 23 other. The latest 20:
- Aug 7, 20268-K EDGAR
- Aug 7, 202610-Q EDGAR
- Jul 23, 20268-K EDGAR
- Jun 2, 2026DEFA14A EDGAR
- Jun 2, 2026DEF 14A EDGAR
- Jun 1, 2026SD EDGAR
- May 26, 20264 PRIMARY DOCUMENT EDGAR
- May 18, 20264 EDGAR
- May 8, 202610-Q EDGAR
- May 8, 20268-K EDGAR
- Apr 29, 202610-K/A EDGAR
- Mar 23, 202610-K EDGAR
- Mar 17, 2026NT 10-K EDGAR
- Mar 16, 20264 EDGAR
- Mar 16, 2026SCHEDULE 13D/A EDGAR
- Mar 16, 20264 PRIMARY DOCUMENT EDGAR
- Mar 10, 20268-K EDGAR
- Feb 13, 2026SCHEDULE 13G EDGAR
- Jan 5, 20264 PRIMARY DOCUMENT EDGAR
- Dec 16, 20254 PRIMARY DOCUMENT EDGAR
The 160 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last three years, summarized. The full record is on SEC EDGAR.
Insider trades and holders
Large holders
Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 10 such filings since October 2021:
- Mar 16, 2026SCHEDULE 13D/A
- Feb 13, 2026SCHEDULE 13G
- Feb 14, 2025SCHEDULE 13G
- Sep 3, 2024SC 13D/A
- Feb 14, 2024SC 13G
- Feb 9, 2024SC 13G/A
- Feb 14, 2023SC 13G
- Feb 10, 2023SC 13G/A
- Feb 15, 2022SC 13G
- Feb 8, 2022SC 13G/A
From Forms 4 and Schedules 13D and 13G filed with the SEC.
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 51. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Visionary Wealth Advisors | 1,109,170 | $7.0M | 0.3% | +3,016 |
| Dimensional Fund Advisors LP | 963,733 | $6.1M | 0.0% | −31,113 |
| Vanguard Capital Management LLC | 464,730 | $2.9M | 0.0% | +6,893 |
| Truffle Hound Capital, LLC | 250,000 | $1.6M | 1.0% | No change |
| RBF Capital, LLC | 218,714 | $1.4M | 0.1% | No change |
| Renaissance Technologies LLC | 171,790 | $1.1M | 0.0% | −26,300 |
| Connor, Clark & Lunn Investment Management Ltd. | 155,043 | $979.9K | 0.0% | +22 |
| BlackRock, Inc. | 154,406 | $975.8K | 0.0% | +8,133 |
| Raymond James Financial Inc | 136,696 | $863.9K | 0.0% | −2,637 |
| Arrowstreet Capital, Limited Partnership | 126,753 | $801.1K | 0.0% | No change |
| Geode Capital Management, LLC | 125,776 | $795.5K | 0.0% | −1,563 |
| Teton Advisors, LLC | 109,000 | $688.9K | 0.4% | No change |
| Russell Investments Group, Ltd. | 72,490 | $458.1K | 0.0% | −9,301 |
| Vanguard Fiduciary Trust Co | 63,496 | $401.3K | 0.0% | +430 |
| Bridgeway Capital Management, LLC | 59,579 | $376.5K | 0.0% | No change |
| Ancora Advisors LLC | 56,169 | $355.0K | 0.0% | No change |
| Two Sigma Investments, LP | 51,106 | $323.0K | 0.0% | −11,119 |
| Maridea Wealth Management LLC | 42,708 | $269.9K | 0.0% | New |
| State Street Corp | 42,470 | $268.4K | 0.0% | −350 |
| Ameriprise Financial Inc | 36,521 | $230.8K | 0.0% | +371 |
| Man Group plc | 33,727 | $213.2K | 0.0% | +10,637 |
| Citadel Advisors LLC | 25,283 | $159.8K | 0.0% | −16,018 |
| Marshall Wace, Llp | 24,435 | $154.4K | 0.0% | +13,357 |
| Northern Trust Corp | 24,095 | $152.3K | 0.0% | −5,136 |
| Walleye Capital LLC | 23,296 | $147.2K | 0.0% | −9,584 |
13F reports cover disclosed long positions in U.S. stocks only.
Links
- Websiteultralifecorporation.com1
- WikipediaUltralife Corporation
- WikidataQ17086475
- SEC EDGARCIK 875657
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
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- 3WikipediaUltralife Corporation on Wikipedia
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- 21SEC EDGARPhilip A. Fain, Vice President
- 22
- 23
- 24
- 25
- 26SEC EDGARThomas E. Hauke, Vice President
- 27SEC EDGARJanie Goddard, Board member
- 28SEC EDGARJames A. Croce, Board member
- 29SEC EDGARW. Shaw Robert, Board member
- 30SEC EDGARBradford T. Whitmore, Board member
- 31SEC EDGARAnthony J. Cavanna, Board member
- 32SEC EDGARCarl H. Rosner, Board member
- 33SEC EDGARDaniel W. Christman, Board member
- 34SEC EDGARPatricia C. Barron, Board member
- 35SEC EDGARPaula H. Cholmondeley, Board member
- 36SEC EDGARRanjit C. Singh, Board member
- 37SEC EDGARCarole Lewis Anderson, Board member
- 38SEC EDGARPeter F. Comeford, General counsel