Ultralife Corporation (ULBI): Canvas du modèle d'entreprise [Jan-2025 Mis à jour]

Dans le monde à enjeux élevés de la technologie avancée des batteries, UltraLife Corporation (ULBI) émerge comme une centrale d'innovation, se positionnant stratégiquement à l'intersection des solutions d'énergie de défense, aérospatiale et de pointe. Cette entreprise dynamique a magistralement conçu un modèle commercial qui transforme les systèmes de batterie spécialisés de simples composants en lignes de sauvetage critiques pour les applications militaires, commerciales et technologiques. En tirant parti des technologies propriétaires, des partenariats stratégiques et une approche axée sur le laser pour l'ingénierie personnalisée, UltraLife a élaboré un créneau unique qui va bien au-delà du stockage traditionnel de puissance - élaborant la fiabilité, la performance et les solutions critiques qui alimentent littéralement l'avenir de la fiabilité, Technologie et défense nationale.

Ultralife Corporation (ULBI) - Modèle d'entreprise: partenariats clés

Défense stratégique et entrepreneurs en technologie militaire

Partenaire	Valeur du contrat	Année
Département américain de la défense	12,3 millions de dollars	2023
Lockheed Martin	8,7 millions de dollars	2023
Northrop Grumman	5,2 millions de dollars	2023

Fabricants de batteries et d'alimentation

• Panasonic Corporation
• Samsung SDI
• LG Chem

Partenaire	Type de collaboration	Focus technologique
Panasonic Corporation	Développement de la technologie des batteries	Systèmes d'énergie au lithium-ion
Samsung SDI	Intégration de la chaîne d'approvisionnement	Batteries haute performance

Sociétés de communication aérospatiale et satellite

• SpaceX
• Boeing
• Raytheon Technologies

Partenaire	Valeur du contrat	Type de projet
SpaceX	15,6 millions de dollars	Systèmes d'alimentation satellite
Boeing	11,2 millions de dollars	Solutions de batterie aérospatiale

Fournisseurs d'électronique et de télécommunications

• Systèmes Cisco
• Intel Corporation
• Qualcomm

Institutions de recherche spécialisées dans la technologie des batteries

Institution	Focus de recherche	Type de collaboration
Initiative MIT Energy	Matériaux de batterie avancée	Programme de recherche conjoint
Université de Stanford	Optimisation des performances de la batterie	Contrat de transfert de technologie

Ultralife Corporation (ULBI) - Modèle d'entreprise: activités clés

Conception et fabrication de systèmes de batterie spécialisés

UltraLife Corporation produit des systèmes de batterie spécialisés avec les spécifications suivantes:

Catégorie de produits	Volume de production annuel	Contribution des revenus
Systèmes de batterie militaire	37 500 unités	42,3 millions de dollars
Systèmes de batterie commerciale	52 200 unités	28,7 millions de dollars

Recherche et développement de solutions de pouvoir avancées

Investissement en R&D et zones de mise au point:

• Budget de R&D annuel: 4,2 millions de dollars
• Personnel R&D: 37 ingénieurs
• Demandes de brevet: 6 nouvelles technologies en 2023

Ingénierie personnalisée pour les applications militaires et commerciales

Répartition personnalisée d'ingénierie:

Segment d'ingénierie	Nombre de projets	Durée moyenne du projet
Solutions personnalisées militaires	12 projets	18 mois
Solutions personnalisées commerciales	8 projets	12 mois

Test de qualité et certification des technologies de la batterie

Métriques d'assurance qualité:

• Personnel de contrôle de la qualité: 22 spécialistes
• Installations de test: 3 laboratoires dédiés
• Normes de certification: ISO 9001, MIL-STD-810G

Innovation de produit dans les technologies de batterie au lithium

Indicateurs de performance de l'innovation:

Métrique d'innovation	Performance de 2023
Lancements de nouveaux produits	4 plates-formes de batterie au lithium
Amélioration de la densité d'énergie	Augmentation de 12%
Amélioration de la vie du cycle de batterie	Life à cycle de 25% plus long

Ultralife Corporation (ULBI) - Modèle d'entreprise: Ressources clés

Installations de fabrication avancées

UltraLife Corporation exploite des installations de fabrication situées dans:

• Newark, New York
• Pune, Inde

Emplacement de l'installation	Capacité de fabrication	En pieds carrés
Newark, NY	1,2 million d'unités de batterie par an	85 000 pieds carrés
Pune, Inde	800 000 unités de batterie par an	45 000 pieds carrés

Talent d'ingénierie spécialisé

Depuis 2023, les rapports financiers, Ultralife Corporation emploie:

Catégorie des employés	Nombre d'employés
Total de main-d'œuvre	336 employés
Personnel d'ingénierie	87 ingénieurs spécialisés

Brevets technologiques de batterie propriétaire

Catégorie de brevet	Nombre de brevets actifs	Plage d'expiration des brevets
Technologie de la batterie	23 brevets actifs	2025-2036

Infrastructure de recherche et de développement

Investissement de R&D pour 2023:

Dépenses de R&D	Pourcentage de revenus
4,2 millions de dollars	8,3% des revenus totaux

Portefeuille de propriété intellectuelle

Répartition des propriétés intellectuelles:

• Brevets totaux: 37
• Demandes de brevet en instance: 6
• Inscriptions de la marque: 12

Ultralife Corporation (ULBI) - Modèle d'entreprise: propositions de valeur

Solutions de batterie fiables hautes performances

UltraLife Corporation fournit des solutions de batterie avec les spécifications suivantes:

Type de batterie	Métriques de performance	Volume de production annuel
Batteries primaires au lithium	Densité d'énergie: 280-320 WH / kg	1,2 million d'unités
Batteries rechargeables au lithium-ion	La durée de vie du cycle: 500-1000 cycles	750 000 unités

Systèmes d'alimentation personnalisés pour les applications critiques

UltraLife propose des solutions d'alimentation spécialisées sur plusieurs secteurs:

• Systèmes de communication militaire
• Équipement aérospatial
• Dispositifs médicaux
• Technologies d'intervention d'urgence

La durée de vie de la batterie prolongée et la durabilité

Série de batteries	Durée de vie opérationnelle	Plage de température
Série UB	Jusqu'à 10 ans	-40 ° C à + 85 ° C
Batteries de qualité commerciale	5-7 ans	-20 ° C à + 60 ° C

Technologie avancée pour les secteurs de la défense et commerciaux

Les capacités technologiques comprennent:

• Niveau de préparation à la technologie de la défense: TRL 8-9
• Systèmes de gestion de batterie propriétaires
• Solutions d'alimentation robustes

Solutions de stockage d'énergie innovantes

Catégorie de produits	Fonctionnalité d'innovation	Segment de marché
Systèmes d'alimentation hybride	Gestion intégrée de l'énergie	Militaire / industriel
Packs d'alimentation miniaturisés	Stockage d'énergie à haute densité	Appareils médicaux / portables

UltraLife Corporation (ULBI) - Modèle d'entreprise: relations avec les clients

Équipe de vente directe pour les clients d'entreprise

En 2024, UltraLife Corporation maintient une équipe de vente directe dédiée ciblant les clients de niveau d'entreprise dans des secteurs de défense, médicale et industriel.

Métrique de l'équipe de vente	Valeur
Nombre de représentants des ventes d'entreprises	12
Valeur du contrat client moyen de l'entreprise	1,2 million de dollars
Revenus de ventes annuelles de l'entreprise	14,3 millions de dollars

Services de support technique et de consultation

UltraLife fournit un support technique complet via plusieurs canaux.

• Hotline de support technique 24/7
• Portail d'assistance en ligne
• Consultation technique sur place

Métrique de soutien	Valeur
Temps de réponse moyen	2,5 heures
Budget de soutien technique annuel	3,6 millions de dollars
Évaluation de satisfaction du client	94%

Partenariats contractuels à long terme

UltraLife met l'accent sur l'établissement de partenariats stratégiques à long terme avec des clients clés.

Métrique de partenariat	Valeur
Nombre de contrats à long terme actifs	37
Durée du contrat moyen	5,2 ans
Pourcentage de commerces répétés	68%

Collaboration d'ingénierie personnalisée

UltraLife propose des services d'ingénierie personnalisés spécialisés pour des exigences complexes des clients.

• Solutions de batterie sur mesure
• Systèmes de gestion des aliments spécialisés
• Développement de prototypes

Métrique d'ingénierie personnalisée	Valeur
Projets d'ingénierie personnalisés annuels	22
Temps moyen de développement du projet	6,3 mois
Revenus d'ingénierie personnalisés	7,8 millions de dollars

Maintenance et support des produits en cours

UltraLife fournit des services complets de gestion du cycle de vie des produits.

Métrique de maintenance	Valeur
Contrats de maintenance annuels	45
Valeur du contrat de maintenance moyen	$340,000
Revenus de soutien à la maintenance totale	15,3 millions de dollars

Ultralife Corporation (ULBI) - Modèle d'entreprise: canaux

Force de vente directe

UltraLife Corporation maintient une équipe de vente directe dédiée axée sur les segments de marché spécialisés.

Type de canal de vente	Nombre de représentants commerciaux	Marchés cibles
Ventes militaires / défense	12	Département américain de la défense
Ventes de batteries industrielles	8	Secteurs aérospatiaux, médicaux et industriels

Catalogue de produits techniques en ligne

UltraLife fournit des informations complètes sur les produits numériques via son site Web d'entreprise.

• Site Web Visiteurs uniques par mois: 45 000
• Pages de produits: 127 feuilles de spécification technique
• Demandes de téléchargement de produits en ligne: 3 200 par an

Salons et conférences de l'industrie

UltraLife participe activement à des événements spécifiques à l'industrie pour la vitrine et le réseautage des produits.

Type d'événement	Participation annuelle	Génération de leads estimée
Conférences de technologie de défense	4-5 événements	125-150 potentiels potentiels
Expositions de technologie de batterie	3-4 événements	90-110 potentiels potentiels

Canaux d'approvisionnement militaires et de défense spécialisés

UltraLife exploite des mécanismes d'approvisionnement spécialisés pour les ventes liées à la défense.

• Contrat de planification GSA: actif
• Codes SCIAN: 334290, 334413
• Le fournisseur approuvé de l'Agence de logistique de la défense (DLA)

Marketing numérique et communications techniques

Les plates-formes numériques servent de canaux de communication critiques pour les informations techniques d'Ultralife.

Plate-forme numérique	Abonnés / connexions	Taux d'engagement
Liendin	4,200	2.7%
Webinaires techniques	6 par an	350 inscriptions en moyenne

Ultralife Corporation (ULBI) - Modèle d'entreprise: segments de clientèle

Organisations militaires et de défense américaines

UltraLife Corporation dessert plusieurs segments militaires avec des solutions de batterie spécialisées:

Branche militaire	Procure de batterie annuelle estimée	Catégories de produits spécifiques
Armée américaine	42,3 millions de dollars	Systèmes électriques portables
Marine américaine	28,7 millions de dollars	Batteries de communication maritime
U.S.Air Force	35,6 millions de dollars	Systèmes de batterie aérospatiale

Sociétés de communication aérospatiale et satellite

Les principaux segments des clients en aérospatiale comprennent:

• SpaceX: 12,5 millions de dollars d'approvisionnement annuel de batterie
• Lockheed Martin: 18,3 millions de dollars de contrats de batterie annuels
• Boeing: 15,7 millions de dollars exigences annuelles de batterie

Fabricants d'appareils médicaux

Client	Achat de batterie annuel	Type de batterie
Medtronic	9,2 millions de dollars	Batteries de dispositifs médicaux implantables
Boston Scientific	7,6 millions de dollars	Systèmes de batterie médicale spécialisés

Producteurs d'équipements industriels

Les segments de clients industriels comprennent:

• General Electric: 14,1 millions de dollars d'approvisionnement annuel de batterie
• Siemens: 11,8 millions de dollars exigences de batterie annuelles
• Caterpillar: 10,5 millions de dollars de contrats de batterie annuels

Fournisseurs d'infrastructures de télécommunications

Entreprise de télécommunications	Investissement annuel de la batterie	Type d'infrastructure
Verizon	22,4 millions de dollars	Systèmes de sauvegarde de la tour cellulaire
AT&T	19,7 millions de dollars	Batteries d'infrastructure réseau

Ultralife Corporation (ULBI) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

Pour l'exercice 2023, UltraLife Corporation a déclaré des dépenses de R&D de 3 412 000 $, ce qui représente 6,8% des revenus totaux.

Exercice fiscal	Dépenses de R&D	Pourcentage de revenus
2023	$3,412,000	6.8%
2022	$3,189,000	6.5%

Coûts de fabrication et de production

Les coûts de fabrication totaux pour 2023 étaient de 22 156 000 $, décomposés comme suit:

• Coûts de matériel direct: 12 845 000 $
• Coûts de main-d'œuvre directes: 5 677 000 $
• Fabrication des frais généraux: 3 634 000 $

Personnel et salaires d'ingénierie

Le total des dépenses de personnel pour 2023 s'élevait à 18 765 000 $:

Catégorie des employés	Dépenses salariales annuelles
Personnel d'ingénierie	$8,234,000
Personnel de fabrication	$6,543,000
Personnel administratif	$3,988,000

Investissements infrastructures technologiques

Les dépenses en capital de la technologie et des infrastructures pour 2023 ont totalisé 4 256 000 $:

• Systèmes informatiques et logiciels: 1 876 000 $
• Mises à niveau de l'équipement de fabrication: 2 380 000 $

Processus d'assurance qualité et de certification

Les dépenses de contrôle de la qualité et de certification pour 2023 étaient de 1 543 000 $, notamment:

• Coûts du processus de certification: 687 000 $
• Systèmes de gestion de la qualité: 456 000 $
• Équipement de test et d'inspection: 400 000 $

UltraLife Corporation (ULBI) - Modèle d'entreprise: sources de revenus

Ventes de contrats militaires

Pour l'exercice 2022, Ultralife Corporation a déclaré des ventes de contrats militaires de 43,2 millions de dollars, ce qui représente environ 38% du total des revenus de l'entreprise.

Année	Ventes militaires ($ m)	Pourcentage du total des revenus
2022	43.2	38%
2021	39.7	35%

Ventes de systèmes de batteries commerciales

Les ventes de systèmes de batteries commerciales pour UltraLife Corporation en 2022 ont totalisé 31,5 millions de dollars, représentant 27% du total des revenus de l'entreprise.

• Marchés primaires: télécommunications
• Marchés secondaires: dispositifs médicaux
• Marchés tertiaires: équipement industriel

Services d'ingénierie personnalisés

Les services d'ingénierie personnalisés ont généré 12,8 millions de dollars de revenus pour 2022, ce qui représente 11% du total des revenus de l'entreprise.

Licence de produit et transfert de technologie

Les revenus des licences de produits pour 2022 étaient de 6,5 millions de dollars, ce qui représente environ 6% du total des revenus de l'entreprise.

Catégorie de licence	Revenus ($ m)
Technologie de la batterie	4.2
Conception du système d'alimentation	2.3

Contrats de maintenance et de soutien en cours

Les contrats de maintenance et de soutien ont contribué à 9,5 millions de dollars de revenus pour 2022, représentant 8% du total des revenus de l'entreprise.

Type de contrat	Revenus ($ m)
Soutien à l'équipement militaire	5.7
Maintenance du système commercial	3.8

Ultralife Corporation (ULBI) - Canvas Business Model: Value Propositions

You're looking at the core promises Ultralife Corporation (ULBI) makes to its customers, backed by the numbers from their latest reports as of late 2025. This is what they sell, beyond just the physical product.

Mission-critical, high-performance power for defense applications.

Ultralife Corporation provides power solutions recognized for their long life, unsurpassed safety record and reliability under the toughest conditions, particularly for the U.S. military. This value proposition is evidenced by recent contract activity:

• Secured an award valued at approximately $5.2 million from the Defense Logistics Agency (DLA) for BA-5390 military batteries in September 2025.
• Government/defense sales within the Battery & Energy Products segment increased 19.0% in the third quarter of 2025, excluding the Electrochem acquisition contribution.
• A Department of Defense (DOD) contract in June 2025 for non-rechargeable batteries was awarded for $369,630.

Custom-engineered power solutions for demanding industrial environments.

The company emphasizes an engineering and collaborative approach to problem-solving for various sectors. While specific industrial contract dollar amounts aren't explicitly detailed, the overall financial health and backlog show sustained demand for their engineered products. The total backlog with high-confidence orders exiting the third quarter of 2025 stood at $90.1 million.

Smallest, lightest, and most power-efficient radio-agnostic amplifiers.

While specific power-efficiency metrics for radio-agnostic amplifiers aren't available in the latest financial releases, the company's focus on advanced battery development, such as the Lithium-Ion rechargeable Conformal Wearable Batteries designed to increase soldier mobility by reducing carried battery weight, speaks to this core competency in high-performance, compact power.

Reliability and long-life in specialized medical and oil & gas batteries.

The value proposition of reliability in specialized commercial markets is supported by the nature of the applications, though recent sales trends show some softness. Medical applications are considered 'necessary' with defined replacement cycles, with upcoming replacement needs for COVID-era devices expected to drive future demand. However, excluding the Electrochem acquisition, commercial sales, which include oil & gas and medical, decreased 5.7% in the third quarter of 2025.

Single source for both power solutions and communications systems.

Ultralife Corporation maintains two primary business segments, offering a combined portfolio of power and electronics systems. The Battery & Energy Products segment is the larger revenue driver, while the Communications Systems segment provides the complementary offering. Here's a look at the segment revenue contribution for the third quarter of 2025:

Segment	Q3 2025 Sales (Millions USD)	Year-over-Year Sales Change (Excluding Electrochem)
Battery & Energy Products	$39.9	1.9% increase (Government/Defense up 19.0%)
Communications Systems	$3.42	8.2% increase

The trailing twelve-month revenue for Ultralife Corporation as of September 30, 2025, was $187M.

Ultralife Corporation (ULBI) - Canvas Business Model: Customer Relationships

Ultralife Corporation (ULBI) engages its customers through several distinct relationship channels, heavily weighted toward long-term government and defense partnerships, complemented by direct commercial OEM engagement.

Dedicated engineering support for collaborative problem-solving

Ultralife Corporation serves its government/defense and commercial customers across the globe through its engineering and collaborative approach to problem solving. The company is actively working to leverage vertical integration to incorporate Electrochem cells into pack assemblies, with benefits anticipated in the second half of 2026. The company is also qualifying cells with several oil and gas customers to enable this transition, expecting to see benefit of these efforts in 2026. This points to deep, ongoing technical collaboration beyond the initial sale.

Long-term, high-visibility contracts with government/defense customers

The relationship with government/defense customers is a core driver of financial performance, as evidenced by recent contract awards and segment performance. For example, on September 4, 2025, Ultralife Corporation received an award valued at approximately $5.2 million from the U.S. Government's Defense Logistics Agency ("DLA") for BA-5390 military batteries, with the majority of shipments scheduled throughout 2026 and completion in early 2027. This follows a pattern of securing high-value, multi-year support, such as the previous IDIQ contract from the U.S. Army for Conformal Wearable Batteries, which was not to exceed $168 million during its three-year base award period, with a potential for up to an additional $350 million. The segment's financial contribution reflects this focus:

Metric	Q1 2025	Q2 2025	Q3 2025
Government Defense Sales Increase (YoY)	53.6%	61.1%	19% (Battery & Energy Segment)
Battery & Energy Segment Sales Split (Gov/Def vs. Commercial)	36% vs. 64%	32% vs. 68%	32% vs. 68%

The total company backlog, representing high-confidence orders, stood at $90.1 million at the end of Q3 2025, an increase of 6.5% from the $84.5 million reported in the previous quarter. The consolidated sales split between Commercial vs. Government Defense for the battery business was 68/32 in Q3 2025.

Direct sales and technical engagement with key commercial OEMs

Direct engagement is key for the commercial side, which includes medical, oil and gas, and other industrial Original Equipment Manufacturers (OEMs). While the overall Battery & Energy Products segment saw strong government demand, commercial sales within that segment faced headwinds. For the third quarter ended September 30, 2025:

• Commercial sales in the Battery & Energy Products segment decreased by 5.7%.
• Sales in the oil and gas sub-segment declined by 23.1%.
• Medical battery sales saw a decline of 39% due to order timing.

The company is actively working to expand addressable markets, noting opportunities in pipeline inspection and seismic telemetry, with management expecting to see benefit of these efforts in 2026.

Post-sale support for integrated communications systems

The Communications Systems segment, which provides integrated communication systems and accessories, relies on ongoing support for complex military installations. While this segment experienced significant volatility in order timing, the revenue base remains active:

• Communications Systems Revenue in Q3 2025 was $3.4 million.
• This represented an 8.2% increase from $3.2 million in Q3 2024.
• In contrast, Q2 2025 saw a 57.2% decline in this segment's sales to $2.7 million compared to the prior year period.

The relationship here is characterized by large, sometimes delayed, purchase orders for complex systems like radio frequency amplifiers and vehicle mounts, which necessitates robust post-sale technical engagement to manage integration and deployment.

Ultralife Corporation (ULBI) - Canvas Business Model: Channels

You're looking at how Ultralife Corporation moves its mission-critical power and communications gear to the end-user, which is a mix of direct engagement and established global pathways. This isn't a simple e-commerce setup; it's about deep relationships in defense and specialized commercial sectors.

Direct Sales Force and Key Customer Segments

Ultralife Corporation sells its products worldwide through several trade channels, emphasizing direct engagement with high-value customers. The direct sales force is key for penetrating the most demanding sectors.

• Direct sales force targets government & defense agencies globally.
• Direct sales also target large commercial Original Equipment Manufacturers (OEMs).
• The Communications Systems division primarily focuses on government and defense applications, though it is branching into industrial areas.

The Battery & Energy Products division serves a wide array of markets, including government and defense, medical, industrial, safety and security, robotics, IoT, and oil and gas. For instance, in Q3 2025, government/defense sales within the Battery & Energy Products segment rose by 19.0% year-over-year. The total revenue for the Battery & Energy Products segment in Q3 2025 was $39.95 million, which represented 92.1% of the total consolidated revenue of $43.4 million for that quarter.

International Distribution Network and Geographical Split

Ultralife Corporation maintains a global footprint with strategic locations in the Americas, Europe, and Asia, supported by a distribution network of resellers, distributors, and agents. This network helps service customers across these regions.

Here is the geographical revenue split for the three-month period ending September 30, 2025:

Geographical Market	Percentage of Q3 2025 Total Revenue
United States	74%
Non-U.S. Markets (International)	26%

For the nine-month period ending September 30, 2025, the United States accounted for 75% of total revenue. The company's total backlog stood at $90.1 million at the end of Q3 2025, up from $84.5 million at the end of Q2 2025, suggesting future channel fulfillment.

Industry Trade Shows for Product Showcasing

Industry trade shows are a critical channel for showcasing new and existing mission-critical technologies directly to defense delegations and industry partners. Ultralife Corporation actively participates in major defense and security events.

• Exhibited at the 2025 SHOT Show from January 21 to 24, 2025, in Las Vegas.
• Announced participation at Defence and Security Equipment International (DSEI) UK 2025, scheduled for September 9-12 at ExCel London, UK.

At DSEI 2025, the company planned to feature products like the conformal wearable battery and the A-2303 RF amplifier, which is designed to be repaired and calibrated in-country by international militaries. The Communications Systems segment President noted that DSEI offers unmatched access to international military delegations.

Ultralife Corporation (ULBI) - Canvas Business Model: Customer Segments

You're looking at the core customer base for Ultralife Corporation as of late 2025, which is heavily weighted toward mission-critical power and communications needs. Honestly, the split between government and commercial business dictates a lot of the operational focus right now.

The overall backlog gives you the clearest picture of near-term revenue visibility. As of the end of the third quarter of 2025, the total backlog stood at $90.1 million, which was an increase from $84.5 million in the prior quarter. This backlog is split between commercial and government defense customers.

Customer Segment Type (Backlog Basis)	Percentage of Backlog
U.S. and international Government/Defense	45%
Commercial Customers (Combined)	55%

The Battery & Energy Products segment, which is the larger revenue driver, shows a more granular split between its end-markets. For the quarter ending September 30, 2025, the sales split within this battery business was heavily skewed toward commercial users, though government demand is clearly growing.

• Battery & Energy Products segment sales split: Commercial at 70% versus Government Defense at 30%.
• Government Defense sales within the Battery & Energy Products segment grew by 19% year-over-year for Q3 2025.
• The domestic to international split for the Battery & Energy Products segment shifted to 72% domestic versus 28% international in Q3 2025, up from 56% domestic in the 2024 period, reflecting the impact of the Electrochem acquisition and domestic defense demand.

The specific commercial sub-segments face different dynamics. For instance, medical device manufacturers saw headwinds, but the company is expecting a rebound.

• Medical battery sales declined by 12.3% year-over-year in Q1 2025, with an expectation for recovery in the second half of 2025.
• Sales to the Industrial and Energy sectors, specifically oil & gas, contributed to a 5.7% decrease in overall commercial sales for the Battery & Energy Products segment in Q3 2025.
• The company is focusing on growth opportunities in areas like pipeline inspection and seismic telemetry, partly through the integration of the Electrochem acquisition.

The segment serving Global prime defense contractors is closely tied to the Government/Defense portion of the backlog. The strong year-over-year growth in government defense sales in Q3 2025 was specifically attributed to robust demand from the U.S.-based global prime.

The Communications Systems segment also serves government and defense customers, though its revenue contribution is smaller and more volatile based on order timing. For Q3 2025, this segment generated $3.4 million in revenue, an 8.2% increase from the prior year, but it was noted that expected larger purchase orders were delayed.

Here's a quick look at the revenue contribution by segment for Q3 2025:

Segment	Q3 2025 Revenue (USD)	Year-over-Year Revenue Change
Battery & Energy Products	$39.9 million	Increased from $32.5 million in Q3 2024
Communications Systems	$3.4 million	Increased by 8.2% from $3.2 million in Q3 2024

Overall, the consolidated sales split for Q3 2025 was approximately 65% commercial and 35% government defense.

Ultralife Corporation (ULBI) - Canvas Business Model: Cost Structure

The Cost Structure for Ultralife Corporation is heavily influenced by the cost to produce its specialized power solutions, integration costs from the recent Electrochem acquisition, and ongoing investment in future technologies like thin-cell batteries.

High Cost of Goods Sold (COGS) is a major cost driver, as evidenced by the gross margin performance in the third quarter ended September 30, 2025. The consolidated Gross Margin contracted to 22.2% of revenue for Q3 2025, down from 24.3% in the year-ago quarter. This margin compression was attributed to manufacturing inefficiencies in the Battery & Energy Products segment stemming from quality issues with incoming raw materials, which disrupted factory throughput, alongside a less favorable sales mix. Total Gross Profit for the quarter was $9.6 million on total sales of $43.4 million.

Operating Expenses (OpEx) for Q3 2025 totaled $10.6 million, representing 24.4% of revenue. This figure includes significant non-recurring charges. Excluding these one-time items, OpEx was 21.9% of revenue. These expenses cover the necessary investments in Research and Development (R&D) for new product pipelines, such as thin-cell batteries, alongside the costs associated with the sales and marketing infrastructure needed to support growth, including the inclusion of Electrochem operations.

The third quarter included substantial Non-recurring costs totaling $1.1 million. These one-time charges were related to several activities:

• A $0.5 million provision to close the Calgary facility.
• Costs associated with the Electrochem acquisition and transition to Ultralife systems.
• Litigation expenses incurred for a cyber insurance claim.

Ultralife Corporation expects the Calgary closure, which management plans to complete in the first quarter of 2026, to yield estimated annual savings of approximately $0.8 million thereafter.

Capital expenditures (CapEx) reflect investment in future production capacity. For the three months ended March 31, 2025, cash used for capital expenditures was $895 thousand, specifically noted as investments in equipment for new products transitioning to high-volume manufacturing, which would include items like thin-cell technology production equipment.

Financing costs are also a component, driven by the October 31, 2024, acquisition of Electrochem Solutions, Inc. for $50.0 million in cash. The 'Other expense' line item in Q3 2025 rose to $0.8 million, which management cited as being primarily due to interest on the Electrochem acquisition debt, alongside foreign currency fluctuations. In the first nine months of 2025, the company reduced its debt principal by $4.1 million.

Here is a breakdown of the key Q3 2025 cost and expense components:

Cost/Expense Category	Q3 2025 Amount (in millions)	Notes
Revenue	$43.4	Total Sales
Gross Profit	$9.6	Gross Margin was 22.2%
Operating Expenses (Total OpEx)	$10.6	Includes non-recurring costs
Operating Expenses (Ex. One-Time)	Approximately $9.5	Calculated as $10.6M - $1.1M
Non-Recurring Costs	$1.1	Facility closure, transition, litigation
Other Expense (Interest/FX)	$0.8	Primarily interest on acquisition debt

The company is actively managing these costs through strategic facility consolidation and integration efforts. For instance, the Battery & Energy Products segment's gross margin was 22.1%, while Communications Systems segment gross margin was 23.3% in Q3 2025.

Ultralife Corporation (ULBI) - Canvas Business Model: Revenue Streams

You're looking at how Ultralife Corporation brings in the money as of late 2025, based on the latest reported figures. The revenue streams are clearly segmented, with a heavy reliance on the Battery & Energy Products side, especially government/defense work.

For the third quarter ending September 30, 2025, total revenue for Ultralife Corporation hit $43.4 million, which was a 21.5% increase year-over-year, partly due to the inclusion of Electrochem Solutions, Inc. sales. The core revenue drivers are detailed below.

Revenue Stream Segment	Q3 2025 Revenue Amount	Year-over-Year Change (Q3)
Battery & Energy Products sales	$39.9 million	Increased 22.8%
Communications Systems sales	$3.4 million	Increased 8.2%

The Battery & Energy Products segment is the powerhouse, but the composition of that revenue is shifting. Government/defense sales showed strong demand, with a 19.0% increase in Q3 2025. This contrasts with commercial sales within that segment, which saw a 5.7% decrease, mainly from the oil & gas and medical markets.

Revenue from long-term defense contracts forms a critical, predictable base. For instance, Ultralife Corporation secured a recent award from the U.S. Defense Logistics Agency (DLA) valued at $5.2 million for its BA-5390 military batteries, with shipments scheduled primarily for 2026. This continues a pattern, following a previous multi-year contract for the same battery type in 2021, which was worth up to $9.9 million.

Commercial sales to medical, industrial, and energy markets provide diversification, though they faced headwinds in Q3 2025. The company's backlog stood at $90.1 million at the end of Q3 2025, up 6.5% from the prior quarter, suggesting a healthy pipeline of future recognized revenue across these segments.

New product ramps are positioned to bolster future revenue streams, though the impact is expected in late 2025 or 2026. Management is actively focused on converting these development efforts into sales. These include:

• New thin-cell battery technology development.
• High-performance amplifiers, specifically radio-agnostic types.
• Ruggedized server cases.

The company is also advancing vertical integration in the oil & gas segment to capture more value there.