Ultralife Corporation (NASDAQ: ULBI) lifts Q2 profit as backlog hits $117.5M

Rhea-AI Filing Summary

Ultralife Corporation reported second quarter 2026 revenue of $47.9 million, down 1.3% from a year ago, as Battery & Energy Products sales decreased 3.7% to $44.2 million while Communications Systems sales grew 39.3% to $3.8 million. Total backlog exited the quarter at a record $117.5 million, up from $84.5 million a year earlier.

Gross profit increased to $13.9 million, with gross margin expanding to 28.9% and delivering a 760-basis point improvement versus the first quarter, driven by manufacturing initiatives, favorable mix and an IEEPA tariff refund. Operating income rose to $3.4 million and net income attributable to Ultralife grew to $2.5 million, or $0.15 per share, compared with $0.9 million, or $0.05 per share, last year. Adjusted EBITDA was $6.1 million, or 12.8% of sales, versus $4.1 million, or 8.5% of sales, reflecting higher profitability despite increased R&D spending and $0.9 million of one-time litigation and consulting costs.

Positive

• Profitability improved significantly, with net income attributable to Ultralife rising to $2.5 million and adjusted EBITDA increasing to $6.1 million, or 12.8% of sales, from $4.1 million, or 8.5% of sales, a year earlier.
• Backlog reached a record $117.5 million, up from $84.5 million exiting the second quarter of 2025, supporting multi-year revenue visibility across Battery & Energy Products and Communications Systems.

Negative

• None.

Filing Explained

As of June 30, 2026, cash was $6,663 against current debt of $1,750 and long-term debt of $42,854.

This Form 8-K records the completed quarter ended June 30, 2026 and adds a balance-sheet view: cash was $6,663, with current debt of $1,750 and long-term debt of $42,854.

Compared with December 31, 2025, the filing reported cash of $9,345, current debt of $4,125, and long-term debt of $45,526.

The release describes a profitable-growth outlook for 2026, but six-month revenue was $95,388 versus $99,307 and net income attributable to Ultralife was $2,092 versus $2,744; the full-year outcome remains unreported.

Form 8-K reports specified material events, and Item 2.02 identifies this filing's event as the release of second-quarter operating results through Exhibit 99.1.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Q2 2026 Revenue: $47.9 million Q2 2026 Gross Margin: 28.9% Q2 2026 Net Income: $2.5 million +5 more

8 metrics

Q2 2026 Revenue $47.9 million Total revenue for the second quarter of 2026, a decrease of $0.6 million, or 1.3%, from $48.6 million in Q2 2025

Q2 2026 Gross Margin 28.9% Gross profit of $13.9 million as a percentage of revenue for Q2 2026 versus 23.9% a year earlier

Q2 2026 Net Income $2.5 million Net income attributable to Ultralife Corporation for the second quarter of 2026 versus $0.9 million in Q2 2025

Q2 2026 EPS $0.15 Net income per basic and diluted share attributable to Ultralife common shareholders in Q2 2026 versus $0.05 in Q2 2025

Adjusted EBITDA Q2 2026 $6.1 million Adjusted EBITDA for Q2 2026, 12.8% of sales, compared with $4.1 million, or 8.5% of sales, in Q2 2025

Backlog at June 30, 2026 $117.5 million Total backlog exiting the second quarter of 2026, versus $115.1 million exiting Q1 2026 and $84.5 million exiting Q2 2025

Cash at June 30, 2026 $6.7 million Cash balance on the consolidated balance sheet as of June 30, 2026 compared with $9.3 million at December 31, 2025

Total Assets at June 30, 2026 $216.2 million Total assets of $216.157 million at June 30, 2026 versus $216.912 million at December 31, 2025

Key Terms

Adjusted EBITDA, IEEPA tariffs, 45X Advanced Manufacturing Production Tax Credit, non-GAAP financial measures

4 terms

Adjusted EBITDA financial

"We define <b>adjusted EBITDA</b> as net income attributable to Ultralife before interest, taxes,"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

IEEPA tariffs regulatory

"Battery &amp; Energy Products gross margin was 28.3%... due to favorable product mix and the refund of the <b>IEEPA tariffs</b>"

Measures labeled as IEEPA tariffs are trade restrictions or charges imposed under the U.S. International Emergency Economic Powers Act, a law that lets the government respond to national emergencies with economic tools. For investors, these actions are like suddenly adding a toll to certain imports, exports or transactions: they can raise costs, disrupt supply chains, limit market access, and change a company’s revenue or risk profile overnight.

45X Advanced Manufacturing Production Tax Credit regulatory

"partially offset by the estimated portion of a refundable tax credit under the <b>45X Advanced Manufacturing Production Tax Credit</b>"

A 45x advanced manufacturing production tax credit is a government incentive that gives manufacturers a fixed tax benefit for each eligible unit they produce of certain advanced products, effectively acting like a per-item rebate on production. It matters to investors because it increases a producer’s after-tax profit and can lower break-even costs—similar to getting a discount on materials—making companies more competitive, improving margins, and potentially raising future cash flow and valuation.

non-GAAP financial measures financial

"we consider and use adjusted EBITDA, a <b>non-GAAP financial measure</b>, as a supplemental measure of our operating performance"

Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.

Earnings Snapshot

Revenue: $47.9 million · Guidance included

second quarter 2026

Revenue $47.9 million decreased by $0.6 million, or 1.3%, from $48.6 million in the second quarter of 2025

Net income attributable to Ultralife $2.5 million increased from $0.9 million in the second quarter of 2025

Diluted EPS $0.15 increased from $0.05 in the second quarter of 2025

Adjusted EBITDA $6.1 million increased from $4.1 million in the second quarter of 2025

Gross margin 28.9% expanded from 23.9% in the second quarter of 2025

Guidance

Management stated that multi-year revenue opportunities and ongoing gross margin initiatives "reinforce our outlook for profitable growth in 2026."

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Understanding 8-K Material Events →

Available on EDGAR 08/07/2026 - 04:02 PM Accepted by SEC EDGAR 08/07/2026 - 04:01 PM Learn about SEC filing dates

FAQ

How did Ultralife (ULBI) perform financially in the second quarter of 2026?

Ultralife reported Q2 2026 revenue of $47.9 million and net income attributable to the company of $2.5 million, or $0.15 per share. Adjusted EBITDA was $6.1 million, or 12.8% of sales, compared with $4.1 million, or 8.5% of sales, a year earlier.

What were Ultralife (ULBI) segment revenues in Q2 2026?

In Q2 2026, Battery & Energy Products revenue was $44.2 million, down 3.7%, reflecting lower oil & gas and industrial sales, while Communications Systems revenue increased 39.3% to $3.8 million as new products contributed to growth.

How did Ultralife (ULBI) margins and profitability change in Q2 2026?

Gross profit was $13.9 million, with gross margin expanding to 28.9% from 23.9% a year earlier and improving 760 basis points versus Q1 2026. Operating income rose to $3.4 million, and net income attributable to Ultralife increased to $2.5 million.

What was Ultralife (ULBI)'s backlog at the end of Q2 2026?

Ultralife ended Q2 2026 with a backlog of $117.5 million, the highest in its history. This compares with $115.1 million exiting the first quarter of 2026 and $84.5 million exiting the second quarter of 2025, indicating strong multi-period demand.

What non-GAAP metric does Ultralife (ULBI) emphasize and what was it in Q2 2026?

Ultralife highlights adjusted EBITDA, defined as net income before interest, taxes, depreciation, amortization and certain items. Adjusted EBITDA was $6.1 million for Q2 2026, or 12.8% of sales, compared with $4.1 million, or 8.5% of sales, in Q2 2025.

What were Ultralife (ULBI)'s cash and debt levels as of June 30, 2026?

As of June 30, 2026, Ultralife held $6.7 million in cash. The current portion of long-term debt was $1.8 million, and long-term debt, net, was $42.9 million, contributing to total liabilities of $83.6 million and shareholders’ equity of $132.6 million.

false 0000875657 0000875657 2026-08-07 2026-08-07

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

August 7, 2026

Date of Report (Date of Earliest Event Reported)

ULTRALIFE CORPORATION

(Exact name of registrant as specified in its charter)

Delaware	000-20852	16-1387013
(State of incorporation)	(Commission File Number)	(IRS Employer Identification No.)
2000 Technology Parkway, Newark, New York 14513
(Address of principal executive offices) (Zip Code)
(315) 332-7100
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol		Name of each exchange on which registered
Common Stock, $0.10 par value per share		ULBI		NASDAQ Stock Market

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934. Emerging Growth Company ☐ 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition

On August 7, 2026, Ultralife Corporation issued a press release regarding the financial results for its second quarter ended June 30, 2026. A copy of this press release is attached hereto as Exhibit 99.1 and is incorporated herein by this reference.

Item 9.01 Financial Statements, Pro Forma Financials and Exhibits

(d) Exhibits.

Exhibit Number		Exhibit Description
99.1		Press Release of Ultralife Corporation dated August 7, 2026
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: August 7, 2026		ULTRALIFE CORPORATION
	By:	/s/ Philip A. Fain
		Philip A. Fain
		Chief Financial Officer and Treasurer

Exhibit 99.1

Ultralife Corporation Reports Second Quarter Results

NEWARK, N.Y. – August 7, 2026 -- Ultralife Corporation (NASDAQ: ULBI) reported operating results for the second quarter ended June 30, 2026 with the following results:

● Sales of $47.9 million compared to $48.6 million for the 2025 second quarter

● Gross profit of $13.9 million, or 28.9% of revenue, compared to $11.6 million, or 23.9% of revenue, for the 2025 second quarter; excluding a $1.1 million net IEEPA refund received in the 2026 second quarter, gross margin was 26.6%

● Operating income of $3.4 million, including one-time costs of $0.9 million, compared to $2.3 million including one-time costs of $0.3 million for the 2025 second quarter

● GAAP EPS of $0.15 compared to $0.05 for the 2025 second quarter

● Adjusted EBITDA of $6.1 million compared to $4.1 million for the 2025 second quarter

● Backlog of $117.5 million compared to $115.1 million exiting the first quarter of 2026

“For the second quarter we delivered a 760-basis point improvement in gross profit margin compared to the first quarter, including the contribution of the net IEEPA refund. This improvement reflects measurable benefits realized to date from our initiatives to address manufacturing inefficiencies along with favorable sales mix. Our Communications Systems business is poised to produce revenue gains as new products move through the capture phase, and continues to expand its opportunity funnel while preparing to launch multiple new products later this year in support of government/defense programs. At the same time, we are advancing a diverse set of product development programs in our Battery & Energy Products business including programs to support water-based defense drone applications. Several of these programs are expected to transition into production later this year while we continue to execute our backlog. These multi-year revenue opportunities combined with our ongoing gross margin improvement initiatives, reinforce our outlook for profitable growth in 2026,” said Mike Manna, President and Chief Executive Officer.

Second Quarter 2026 Financial Results

Revenue was $47.9 million, a decrease of $0.6 million, or 1.3%, as compared to revenue of $48.6 million for the second quarter of 2025. Battery & Energy Products sales decreased 3.7% to $44.2 million compared to $45.9 million last year. The year-over-year decrease reflects a 4.7% decline in commercial sales due to an 8.7% decline in oil & gas and industrial sales offsetting a 7.2% increase in medical battery sales, and a 1.4% decline in government/defense sales due to the shipment of a very large order for an allied country last year. Communications Systems sales increased by 39.3% to $3.8 million compared to $2.7 million for the same period last year. Our total backlog exiting the second quarter was $117.5 million, the highest level in the Company’s history, compared to $115.1 million exiting the first quarter of 2026 and $84.5 million exiting the second quarter of 2025.

Gross profit was $13.9 million, or 28.9% of revenue, compared to $11.6 million, or 23.9% of revenue, for the same quarter a year ago. Battery & Energy Products gross margin was 28.3%, compared to 23.6% last year, primarily due to favorable product mix and the refund of the IEEPA tariffs in the current period. Communications Systems gross margin was 36.3% compared to 28.4% last year, primarily due to sales mix.

Operating expenses were $10.4 million, compared to $9.3 million for the second quarter of 2025, reflecting an increase in new product development costs related to continued investment in our product offering, and one-time, non-recurring costs of $0.9 million primarily related to litigation expenses incurred for our cyber-insurance claim and the completion of certain consulting costs to help expedite our gross margin improvement. Operating expenses were 21.8% of revenue compared to 19.2% of revenue for the year-earlier period.

Operating income was $3.4 million compared to $2.3 million last year.

Other expense was $0.5 million primarily comprised of interest expense from the financing of our Electrochem acquisition partially offset by the second quarter estimated portion of a refundable tax credit for certain qualifying battery cells and packs we manufacture under the 45X Advanced Manufacturing Production Tax Credit. This compares to $1.1 million for the year-earlier period primarily reflecting the Electrochem acquisition financing and net foreign currency losses.

Net income attributable to Ultralife Corporation was $2.5 million or $0.15 per basic and diluted share on a GAAP basis, compared to $0.9 million or $0.05 per basic and diluted share for the second quarter of 2025.

Adjusted EBITDA, defined as EBITDA including non-cash, stock-based compensation expense and one-time costs not reflective of our ongoing operations, was $6.1 million for the second quarter of 2026, or 12.8% of sales, compared to $4.1 million, or 8.5% of sales, for the year-earlier period. On a trailing twelve-month basis, adjusted EBITDA was $17.1 million or 9.1% of sales.

See the “Non-GAAP Financial Measures” section of this release for a reconciliation of adjusted EBITDA to net income attributable to Ultralife Corporation.

About Ultralife Corporation

Ultralife Corporation serves its markets with products and services ranging from power solutions to communications and electronics systems. Through its engineering and collaborative approach to problem solving, Ultralife serves government/defense and commercial customers across the globe.

Headquartered in Newark, New York, the Company's business segments include Battery & Energy Products and Communications Systems. Ultralife has operations in North America, Europe and Asia. For more information, visit www.ultralifecorporation.com.

Conference Call Information

Ultralife will hold its second quarter earnings conference call today at 8:00 AM ET.

To ensure a fast and reliable connection to our investor conference call, we now require participants dialing in by phone to register using the following link prior to the call: https://register-conf.media-server.com/register/BI4beea58f157a441ba44284b283b1001f. This will eliminate the need to speak with an operator. Once registered, dial-in information will be provided along with a personal identification number. Should you register early and misplace your details, you can simply click back on this same link at any time to register and view this information again. A live webcast of the conference call will be available to investors in the Events & Presentations section of the Company's website at http://investor.ultralifecorporation.com. For those who cannot listen to the live broadcast, a replay of the webcast will be available shortly after the call at the same location.

This press release may contain forward-looking statements based on current expectations that involve a number of risks and uncertainties. The potential risks and uncertainties that could cause actual results to differ materially include uncertain global economic conditions including the impact of tariffs and inflation, reductions in revenues from key customers, delays or reductions in U.S. and foreign military spending, acceptance of our new products on a global basis, and disruptions, delays or material price increases in our supply of raw materials and components due to business conditions, new or additional tariffs, global conflicts, weather or other factors not under our control. The Company cautions investors not to place undue reliance on forward-looking statements, which reflect the Company's analysis only as of today's date. The Company undertakes no obligation to publicly update forward-looking statements to reflect subsequent events or circumstances. Further information on these factors and other factors that could affect Ultralife’s financial results is included in Ultralife’s Securities and Exchange Commission (SEC) filings, including the latest Annual Report on Form 10-K.

ULTRALIFE CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS (Dollars in Thousands)

(Unaudited)

​	​	June 30,  2026		​	​	December 31, 2025		​
ASSETS								​
Current Assets:	​	​	​	​	​	​	​	​
Cash	​		$6,663	​	​		$9,345	​
Trade Accounts Receivable, Net	​	​	34,770	​	​	​	33,948	​
Inventories, Net	​	​	58,745	​	​	​	54,008	​
Prepaid Expenses and Other Current Assets	​	​	6,980	​	​	​	8,500	​
Total Current Assets	​	​	107,158	​	​	​	105,801	​
​	​	​	​	​	​	​	​	​
Property, Plant and Equipment, Net	​	​	39,514	​	​	​	40,397	​
Goodwill	​	​	45,369	​	​	​	45,376	​
Other Intangible Assets, Net	​	​	10,386	​	​	​	10,933	​
Deferred Income Taxes, Net	​	​	10,335	​	​	​	10,494	​
Other Non-Current Assets	​	​	3,395	​	​	​	3,911	​
​Total Assets	​		$216,157	​	​		$216,912	​
​	​	​	​	​	​	​	​	​
​LIABILITIES AND SHAREHOLDERS' EQUITY								​
​Current Liabilities:	​	​	​	​	​	​	​	​
Accounts Payable	​		$22,601	​	​		$17,423	​
Current Portion of Long-Term Debt	​	​	1,750	​	​	​	4,125	​
Accrued Compensation and Related Benefits	​	​	2,930	​	​	​	2,754	​
Accrued Expenses and Other Current Liabilities	​	​	10,074	​	​	​	13,031	​
Total Current Liabilities	​	​	37,355	​	​	​	37,333	​
Long-Term Debt, Net	​	​	42,854	​	​	​	45,526	​
Deferred Income Taxes, Net	​	​	934	​	​	​	1,000	​
Other Non-Current Liabilities	​	​	2,413	​	​	​	2,919	​
Total Liabilities	​	​	83,556	​	​	​	86,778	​
​	​	​	​	​	​	​	​	​
Shareholders' Equity:	​	​	​	​	​	​	​	​
Common Stock	​	​	2,110	​	​	​	2,109	​
Capital in Excess of Par Value	​	​	192,983	​	​	​	192,859	​
Accumulated Deficit	​	​	(38,248)		​	​	(40,340)
Accumulated Other Comprehensive Loss	​	​	(2,846)		​	​	(3,141)
Treasury Stock	​	​	(21,492)		​	​	(21,492)
Total Ultralife Equity	​	​	132,507	​	​	​	129,995	​
Non-Controlling Interest	​	​	94	​	​	​	139	​
Total Shareholders’ Equity	​	​	132,601	​	​	​	130,134	​
​	​	​	​	​	​	​	​	​
Total Liabilities and Shareholders' Equity	​		$216,157	​	​		$216,912	​

ULTRALIFE CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

(In Thousands Except Per Share Amounts)

(Unaudited)

​

​

Three-Month Period Ended

​

​

Six-Month Period Ended

​

​

​

June 30,

​

​

June 30,

​

​

June 30,

​

​

June 30,

​

​

​

2026

​

​

2025

​

​

2026

​

​

2025

​

Revenues:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Battery & Energy Products

​

$44,189

​

​

$45,867

​

​

$88,344

​

​

$92,188

​

Communications Systems

​

​

3,754

​

​

​

2,694

​

​

​

7,044

​

​

​

7,119

​

Total Revenues

​

​

47,943

​

​

​

48,561

​

​

​

95,388

​

​

​

99,307

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Cost of Products Sold:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Battery & Energy Products

​

​

31,686

​

​

​

35,032

​

​

​

66,483

​

​

​

69,913

​

Communications Systems

​

​

2,391

​

​

​

1,928

​

​

​

4,929

​

​

​

5,048

​

Total Cost of Products Sold

​

​

34,077

​

​

​

36,960

​

​

​

71,412

​

​

​

74,961

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Gross Profit

​

​

13,866

​

​

​

11,601

​

​

​

23,976

​

​

​

24,346

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Operating Expenses:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Research and Development

​

​

3,225

​

​

​

2,318

​

​

​

6,186

​

​

​

4,722

​

Selling, General and Administrative

​

​

7,204

​

​

​

7,027

​

​

​

14,568

​

​

​

13,969

​

Total Operating Expenses

​

​

10,429

​

​

​

9,345

​

​

​

20,754

​

​

​

18,691

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Operating Income

​

​

3,437

​

​

​

2,256

​

​

​

3,222

​

​

​

5,655

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Other Expense

​

​

451

​

​

​

1,143

​

​

​

899​

​

​

2,096

​

Income Before Income Taxes

​

​

2,986

​

​

​

1,113

​

​

​

2,323

​

​

​

3,559

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Income Tax Provision

​

​

468

​

​

​

243

​

​

​

276

​

​

​

810

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net Income

​

​

2,518

​

​

​

870

​

​

​

2,047

​

​

​

2,749

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net (Loss) Income Attributable to Non-Controlling Interest

​

​

(25)

​

​

(9)

​

​

(45)

​

​

5

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net Income Attributable to Ultralife Corporation

​

$2,543

​

​

$879

​

​

$2,092

​

​

$2,744

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net Income Per Share Attributable to Ultralife Common Shareholders – Basic

​

$.15

​

​

$.05

​

​

$.13

​

​

$.17

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net Income Per Share Attributable to Ultralife Common Shareholders – Diluted

​

$.15

​

​

$.05

​

​

$.13

​

​

$.17

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Weighted Average Shares Outstanding – Basic

​

​

16,659

​

​

​

16,635

​

​

​

16,658

​

​

​

16,634

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Weighted Average Shares Outstanding – Diluted

​

​

16,714

​

​

​

16,656

​

​

​

16,703

​

​

​

16,671

​

Non-GAAP Financial Measures

Adjusted EBITDA

In evaluating our business, we consider and use adjusted EBITDA, a non-GAAP financial measure, as a supplemental measure of our operating performance in addition to GAAP financial measures. We define adjusted EBITDA as net income attributable to Ultralife Corporation before net interest expense, provision for income taxes, depreciation and amortization, and stock-based compensation expense, plus/minus expense/income that we do not consider reflective of our ongoing continuing operations. We reconcile adjusted EBITDA to net income attributable to Ultralife Corporation, the most comparable financial measure under GAAP. Neither current nor potential investors in our securities should rely on adjusted EBITDA as a substitute for any GAAP measures and we encourage investors to review the following reconciliation of adjusted EBITDA to net income attributable to Ultralife Corporation.

ULTRALIFE CORPORATION AND SUBSIDIARIES

CALCULATION OF ADJUSTED EBITDA

(Dollars in Thousands)

(Unaudited)

​

​

Three-Month Period Ended

​

​

Six-Month Period Ended

​

​

​

June 30, 2026

​

​

June 30, 2025

​

​

June 30, 2026

​

​

June 30, 2025

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net Income Attributable to Ultralife Corporation

​

$2,543

​

​

$879

​

​

$2,092

​

​

$2,744

​

Adjustments:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Interest Expense, Net

​

​

839

​

​

​

992

​

​

​

1,707

​

​

​

2,024

​

Income Tax Provision

​

​

468

​

​

​

243

​

​

​

276

​

​

​

810

​

Depreciation Expense

​

​

1,056

​

​

​

1,008

​

​

​

2,110

​

​

​

1,958

​

Amortization Expense

​

​

268

​

​

​

410

​

​

​

535

​

​

​

815

​

Stock-Based Compensation Expense

​

​

90

​

​

​

235

​

​

​

89

​

​

​

462

​

Other Non-Recurring Costs

​

​

884

​

​

​

326

​

​

​

1,731

​

​

​

518

​

One-Time Events Impacting Production

​

​

-

​

​

​

-

​

​

​

817

​

​

​

-

​

Severance Cost for Plant Closure

​

​

-

​

​

​

-

​

​

​

-

​

​

​

150

​

Non-Cash Purchase Accounting Adjustment

​

​

-

​

​

​

20

​

​

​

-

​

​

​

80

​

Adjusted EBITDA

​

$6,148

​

​

$4,113

​

​

$9,357

​

​

$9,561

​

Company Contact:

Ultralife Corporation

Philip A. Fain

(315) 210-6110

pfain@ulbi.com

Investor Relations Contact:

Alliance Advisors IR

Jody Burfening

(212) 838-3777

jburfening@allianceadvisors.com

Filing Exhibits & Attachments

5 documents

Press Releases

• EX-99.1 EXHIBIT 99.1 404.2 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 3.5 KB
• EX-101 XBRL TAXONOMY EXTENSION DEFINITION LINKBASE 11.2 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 15.0 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 11.3 KB