Ultralife Corporation reported a significant increase in its financial performance for the fiscal year ending December 31, 2025, with total revenues reaching $191.2 million, a 16.2% increase from $164.5 million in 2024. The growth was primarily driven by a 23.6% rise in the Battery & Energy Products segment, which generated $178.0 million in revenue, compared to $144.1 million the previous year. However, the Communications Systems segment experienced a decline, with revenues falling 35.6% to $13.1 million from $20.4 million in 2024. The overall increase in revenue was attributed to a 22.7% rise in sales to commercial customers and a 5.6% increase in government and defense sales.
Despite the revenue growth, Ultralife reported a net loss of $5.9 million, or $0.35 per share, compared to a net income of $6.3 million, or $0.38 per share, in the prior year. The loss was largely due to increased operating expenses, which surged 60.5% to $51.9 million, driven by a comprehensive rebranding initiative that resulted in a non-cash impairment charge of $12.2 million related to intangible assets. The company also incurred additional costs associated with the acquisition of Electrochem Solutions, which was completed in late 2024, and the transition of its operations to Ultralife’s systems.
Operationally, Ultralife's backlog at the end of 2025 stood at $110.2 million, reflecting a 7.9% increase from the previous year, indicating strong demand for its products. The company employed 678 individuals as of December 31, 2025, with a focus on enhancing its engineering and technical capabilities to support growth. The Battery & Energy Products segment saw a backlog increase of 7.8%, while the Communications Systems segment's backlog rose 8.8%.
Looking ahead, Ultralife's management expressed confidence in the company's ability to deliver sustainable profitable growth, supported by a solid liquidity position with cash on hand of $9.3 million and a current ratio of 2.8. The company plans to continue investing in new product development and operational improvements to capitalize on its expanding pipeline of opportunities. However, management also acknowledged the ongoing challenges posed by supply chain disruptions and the need to navigate the complexities of the current economic environment, including inflation and tariffs, which could impact future performance.
About ULTRALIFE CORP
Ultralife Corporation designs and manufactures power solutions, including non-rechargeable and rechargeable batteries, charging systems, and communication systems for government, defense, medical, industrial, and commercial markets worldwide. Its core segments are Battery & Energy Products and Communications Systems, serving OEMs, military, and industrial clients. The company emphasizes innovation, proprietary technology, and global manufacturing to deliver high-performance, reliable power and communication solutions.
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