Ultralife Corp (NASDAQ: ULBI) is a battery and energy products company that manufactures and markets non-rechargeable and rechargeable batteries, smart battery systems, and battery packs for defense, industrial, and commercial applications. Revenue comes from transactional product sales across two reported business areas: Battery & Energy Products and Communications Systems. Headquartered in Newark, New York, Ultralife operates as a global company with manufacturing and distribution across North America and Europe. The Battery & Energy Products segment includes lithium non-rechargeable cells under the Ultralife HiRate and Ultralife Thin Cell brands, lithium-ion rechargeable batteries, and custom battery packs and monitoring systems produced through its Excell Battery Group subsidiary, acquired in December 2021. Excell serves industrial end markets including downhole drilling, OEM medical devices, automated meter reading, and mining. Ultralife's common stock is listed on the NASDAQ Global Market under the symbol ULBI. The company does not pay a cash dividend and is precluded from doing so under its current credit facility, retaining earnings to finance operations.

Revenue model

Transactional product sales of non-rechargeable batteries, rechargeable battery packs, smart battery systems, and battery monitoring systems sold to defense, industrial, and commercial customers.

Products and services

Lithium Manganese Dioxide (Li-MnO2), Lithium Manganese Dioxide Carbon Monofluoride (Li-CFx/MnO2) hybrid, and Lithium Thionyl Chloride (Li-SOCl2) non-rechargeable batteries in 9-volt, Ultralife HiRate cylindrical, and Ultralife Thin Cell form factors; rechargeable lithium-ion and lithium polymer batteries; custom high-performance smart battery systems and battery packs designed to customer specifications through the Excell Battery Group.

Customers and end markets

Defense (military radios), commercial electronics (smoke alarms, wireless security systems, intensive care monitors, laptop computers, mobile telephones, portable medical devices, wearable devices), and industrial markets including downhole drilling, OEM industrial and medical devices, automated meter reading, mining, and marine applications.

Value-chain role

Manufacturer and designer of batteries and battery systems; sells finished battery products and custom-engineered battery packs directly to OEM device makers, defense contractors, and industrial end users.

Geographic exposure

Headquartered in Newark, New York; Excell Battery Group operates in Canada and the United States (Texas); products shipped under EU Battery Directive requirements indicating European sales exposure; described in the 10-K filed 2026-03-23 as a global company.

Source: SEC 10-K, filed 2026-03-23

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