ULTRALIFE Business Summary

Ultralife Corporation (NASDAQ: ULBI) is a leading global provider of high-performance power and communication solutions, primarily serving the government, defense, medical, and industrial sectors. The company generates revenue through the design, manufacture, and sale of advanced lithium batteries, charging systems, and ruggedized communications equipment. Its operations are divided into two primary segments: Battery & Energy Products, which accounts for approximately 95% of total sales following the strategic 2024 acquisition of Electrochem Solutions, and Communications Systems, which provides RF amplifiers and integrated systems for tactical environments. Ultralife maintains a specialized niche in the market by focusing on mission-critical applications where reliability is non-negotiable, positioning itself as a high-reliability alternative to larger, diversified competitors such as EnerSys, EaglePicher Technologies, and Electrovaya. Originally founded in 1991 as a spin-off from Eastman Kodak’s Ultra Technologies division by Arthur M. Liberman, Bruce Jagid, and Carl H. Rosner, the company is currently led by President and CEO Michael E. Manna, a 30-year veteran of the firm and a recognized battery technology expert with multiple patents. The executive team includes Philip A. Fain, who has served as CFO and Treasurer since 2009, and recently appointed leaders Jeffrey Luke (Chief Marketing Officer) and James Pope (SVP of Sales & Business Development). The company’s strategic direction is heavily influenced by Board Chair Bradford T. Whitmore, the founder of Grace Brothers, Ltd., which remains a major institutional shareholder with a significant ownership stake exceeding 30%.