Ultralife Corporation (ULBI): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No mundo de alto risco de tecnologia avançada de baterias, a Ultralife Corporation (ULBI) surge como uma potência de inovação, posicionando-se estrategicamente no cruzamento de soluções de energia de defesa, aeroespacial e ponta. Esta empresa dinâmica criou magistralmente um modelo de negócios que transforma sistemas de bateria especializados de meros componentes em linhas de vida críticas para aplicações militares, comerciais e tecnológicas. Ao alavancar tecnologias proprietárias, parcerias estratégicas e uma abordagem focada em laser para a engenharia personalizada, a Ultralife criou um nicho único que vai muito além do armazenamento tradicional de energia-entregando a confiabilidade, o desempenho e as soluções críticas de missão que literalmente alimentam o futuro do futuro de Tecnologia e Defesa Nacional.

Ultralife Corporation (ULBI) - Modelo de negócios: Parcerias -chave

Empreiteiros Estratégicos de Defesa e Tecnologia Militar

Parceiro	Valor do contrato	Ano
Departamento de Defesa dos EUA	US $ 12,3 milhões	2023
Lockheed Martin	US $ 8,7 milhões	2023
Northrop Grumman	US $ 5,2 milhões	2023

Fabricantes de sistemas de bateria e energia

• Panasonic Corporation
• Samsung SDI
• LG Chem

Parceiro	Tipo de colaboração	Foco em tecnologia
Panasonic Corporation	Desenvolvimento da tecnologia de bateria	Sistemas de energia de íons de lítio
Samsung SDI	Integração da cadeia de suprimentos	Baterias de alto desempenho

Empresas de comunicação aeroespacial e satélite

• SpaceX
• Boeing
• Raytheon Technologies

Parceiro	Valor do contrato	Tipo de projeto
SpaceX	US $ 15,6 milhões	Sistemas de energia de satélite
Boeing	US $ 11,2 milhões	Soluções de bateria aeroespacial

Fornecedores de eletrônicos e telecomunicações

• Sistemas Cisco
• Intel Corporation
• Qualcomm

Instituições de pesquisa especializadas em tecnologia de bateria

Instituição	Foco na pesquisa	Tipo de colaboração
Iniciativa MIT Energy	Materiais avançados da bateria	Programa de pesquisa conjunta
Universidade de Stanford	Otimização de desempenho da bateria	Contrato de transferência de tecnologia

Ultralife Corporation (ULBI) - Modelo de negócios: Atividades -chave

Projetar e fabricar sistemas de bateria especializados

A Ultralife Corporation produz sistemas de bateria especializados com as seguintes especificações:

Categoria de produto	Volume anual de produção	Contribuição da receita
Sistemas de baterias militares	37.500 unidades	US $ 42,3 milhões
Sistemas de baterias comerciais	52.200 unidades	US $ 28,7 milhões

Pesquisa e desenvolvimento de soluções avançadas de energia

Áreas de investimento e foco de P&D:

• Orçamento anual de P&D: US $ 4,2 milhões
• Pessoal de P&D: 37 engenheiros
• Aplicações de patentes: 6 novas tecnologias em 2023

Engenharia personalizada para aplicações militares e comerciais

Aparelhamento personalizado de engenharia:

Segmento de engenharia	Número de projetos	Duração média do projeto
Soluções personalizadas militares	12 projetos	18 meses
Soluções personalizadas comerciais	8 projetos	12 meses

Teste de qualidade e certificação de tecnologias de bateria

Métricas de garantia de qualidade:

• Equipe de controle de qualidade: 22 especialistas
• Instalações de teste: 3 laboratórios dedicados
• Padrões de certificação: ISO 9001, MIL-STD-810G

Inovação de produtos em tecnologias de bateria de lítio

Indicadores de desempenho da inovação:

Métrica de inovação	2023 desempenho
Novos lançamentos de produtos	4 plataformas de bateria de lítio
Melhoria da densidade de energia	Aumento de 12%
Aprimoramento da vida útil do ciclo da bateria	Vida de ciclo de 25% mais longa

Ultralife Corporation (ULBI) - Modelo de negócios: Recursos -chave

Instalações de fabricação avançadas

A Ultralife Corporation opera instalações de fabricação localizadas em:

• Newark, Nova York
• Pune, Índia

Localização da instalação	Capacidade de fabricação	Metragem quadrada
Newark, NY	1,2 milhão de unidades de bateria anualmente	85.000 pés quadrados
Pune, Índia	800.000 unidades de bateria anualmente	45.000 pés quadrados

Talento especializado em engenharia

A partir de 2023 relatórios financeiros, a Ultralife Corporation emprega:

Categoria de funcionários	Número de funcionários
Força de trabalho total	336 funcionários
Equipe de engenharia	87 engenheiros especializados

Patentes de tecnologia de bateria proprietárias

Categoria de patentes	Número de patentes ativas	Faixa de expiração da patente
Tecnologia da bateria	23 patentes ativas	2025-2036

Infraestrutura de pesquisa e desenvolvimento

Investimento de P&D para 2023:

Despesas de P&D	Porcentagem de receita
US $ 4,2 milhões	8,3% da receita total

Portfólio de propriedade intelectual

Aparelhamento da propriedade intelectual:

• Total de patentes: 37
• Aplicações de patentes pendentes: 6
• Registros de marca registrada: 12

Ultralife Corporation (ULBI) - Modelo de negócios: proposições de valor

Soluções de bateria confiáveis ​​e de alto desempenho

A Ultralife Corporation fornece soluções de bateria com as seguintes especificações:

Tipo de Bateria	Métricas de desempenho	Volume anual de produção
Baterias primárias de lítio	Densidade de energia: 280-320 WH/KG	1,2 milhão de unidades
Baterias recarregáveis ​​de íon de lítio	Ciclo Life: 500-1000 ciclos	750.000 unidades

Sistemas de energia personalizados para aplicações críticas

A Ultralife oferece soluções de energia especializadas em vários setores:

• Sistemas de comunicação militar
• Equipamento aeroespacial
• Dispositivos médicos
• Tecnologias de resposta a emergências

Prolongada duração da bateria e durabilidade

Série de bateria	Vida operacional Lifespan	Faixa de temperatura
Série UB	Até 10 anos	-40 ° C a +85 ° C.
Baterias de nível comercial	5-7 anos	-20 ° C a +60 ° C.

Tecnologia avançada para setores comerciais e de defesa

Os recursos de tecnologia incluem:

• Nível de prontidão para tecnologia de defesa: TRL 8-9
• Sistemas de gerenciamento de baterias proprietários
• Soluções de energia robusta

Soluções inovadoras de armazenamento de energia

Categoria de produto	Recurso de inovação	Segmento de mercado
Sistemas de energia híbrida	Gerenciamento de energia integrado	Militar/industrial
Pacotes de energia miniaturizados	Armazenamento de energia de alta densidade	Dispositivos médicos/portáteis

Ultralife Corporation (ULBI) - Modelo de Negócios: Relacionamentos do Cliente

Equipe direta de vendas para clientes corporativos

A partir de 2024, a Ultralife Corporation mantém uma equipe de vendas direta dedicada direcionando clientes em nível empresarial nos setores de defesa, médica e industrial.

Métrica da equipe de vendas	Valor
Número de representantes de vendas corporativos	12
Valor médio do contrato do cliente corporativo	US $ 1,2 milhão
Receita anual de vendas corporativas	US $ 14,3 milhões

Serviços de suporte técnico e consulta

A Ultralife fornece suporte técnico abrangente por meio de vários canais.

• 24/7 de suporte técnico Linha direta
• Portal de suporte on -line
• Consulta técnica no local

Métrica de suporte	Valor
Tempo médio de resposta	2,5 horas
Orçamento anual de suporte técnico	US $ 3,6 milhões
Classificação de satisfação do cliente	94%

Parcerias de contrato de longo prazo

A Ultralife enfatiza o estabelecimento de parcerias estratégicas de longo prazo com os principais clientes.

Métrica de Parceria	Valor
Número de contratos de longo prazo ativos	37
Duração média do contrato	5,2 anos
Porcentagem de negócios repetidos	68%

Colaboração de engenharia personalizada

A Ultralife oferece serviços especializados de engenharia personalizados para requisitos complexos do cliente.

• Soluções de bateria personalizadas
• Sistemas especializados de gerenciamento de energia
• Desenvolvimento de protótipo

Métrica de engenharia personalizada	Valor
Projetos anuais de engenharia personalizada	22
Tempo médio de desenvolvimento do projeto	6,3 meses
Receita de engenharia personalizada	US $ 7,8 milhões

Manutenção e suporte de produto em andamento

A Ultralife fornece serviços abrangentes de gerenciamento do ciclo de vida do produto.

Métrica de manutenção	Valor
Contratos anuais de manutenção	45
Valor médio de contrato de manutenção	$340,000
Receita total de suporte de manutenção	US $ 15,3 milhões

Ultralife Corporation (ULBI) - Modelo de Negócios: Canais

Força de vendas direta

A Ultralife Corporation mantém uma equipe de vendas direta dedicada focada em segmentos de mercado especializados.

Tipo de canal de vendas	Número de representantes de vendas	Mercados -alvo
Vendas militares/de defesa	12	Departamento de Defesa dos EUA
Vendas industriais de baterias	8	Setores aeroespacial, médico, industrial

Catálogo de produtos técnicos online

A Ultralife fornece informações abrangentes sobre produtos digitais por meio de seu site corporativo.

• Site visitantes exclusivos por mês: 45.000
• Páginas de produto: 127 folhas de especificação técnica
• Solicitações de download de produto on -line: 3.200 anualmente

Feiras e conferências do setor

A Ultralife participa ativamente de eventos específicos do setor para vitrine de produtos e redes.

Tipo de evento	Participação anual	Geração estimada de chumbo
Conferências de Tecnologia de Defesa	4-5 eventos	125-150 leads potenciais
Exposições de tecnologia de bateria	3-4 eventos	90-110 leads potenciais

Canais especializados de compras militares e de defesa

A Ultralife aproveita mecanismos de compras especializadas para vendas relacionadas à defesa.

• Contrato de cronograma da GSA: ativo
• Códigos NAICs: 334290, 334413
• Agência de Logística de Defesa (DLA) Fornecedor aprovado

Marketing digital e comunicações técnicas

As plataformas digitais servem como canais críticos de comunicação para as informações de produtos técnicos da Ultralife.

Plataforma digital	Seguidores/conexões	Taxa de engajamento
LinkedIn	4,200	2.7%
Webinars técnicos	6 anualmente	Média 350 registrantes

Ultralife Corporation (ULBI) - Modelo de negócios: segmentos de clientes

Organizações militares e de defesa dos EUA

A Ultralife Corporation serve vários segmentos militares com soluções de bateria especializadas:

Ramo militar	Aquisição anual estimada de bateria	Categorias de produtos específicas
Exército dos EUA	US $ 42,3 milhões	Sistemas de energia portáteis
Marinha dos EUA	US $ 28,7 milhões	Baterias de comunicação marítima
Força Aérea dos EUA	US $ 35,6 milhões	Sistemas de bateria aeroespacial

Empresas de comunicação aeroespacial e satélite

Os principais segmentos de clientes no aeroespacial incluem:

• SpaceX: US $ 12,5 milhões para compras anuais de bateria
• Lockheed Martin: US $ 18,3 milhões de contratos anuais de bateria
• Boeing: US $ 15,7 milhões anuais dos requisitos de bateria

Fabricantes de dispositivos médicos

Cliente	Aquisição anual de bateria	Tipo de Bateria
Medtronic	US $ 9,2 milhões	Baterias de dispositivos médicos implantáveis
Boston Scientific	US $ 7,6 milhões	Sistemas de bateria médica especializados

Produtores de equipamentos industriais

Os segmentos de clientes industriais incluem:

• General Electric: US $ 14,1 milhões para compras anuais de bateria
• Siemens: US $ 11,8 milhões anuais da bateria requisitos
• Caterpillar: US $ 10,5 milhões de contratos anuais de bateria

Provedores de infraestrutura de telecomunicações

Empresa de telecomunicações	Investimento anual da bateria	Tipo de infraestrutura
Verizon	US $ 22,4 milhões	Sistemas de backup da torre de celular
AT&T	US $ 19,7 milhões	Baterias de infraestrutura de rede

Ultralife Corporation (ULBI) - Modelo de negócios: estrutura de custos

Despesas de pesquisa e desenvolvimento

Para o ano fiscal de 2023, a Ultralife Corporation registrou despesas de P&D de US $ 3.412.000, representando 6,8% da receita total.

Ano fiscal	Despesas de P&D	Porcentagem de receita
2023	$3,412,000	6.8%
2022	$3,189,000	6.5%

Custos de fabricação e produção

Os custos totais de fabricação para 2023 foram de US $ 22.156.000, divididos da seguinte forma:

• Custos de material direto: US $ 12.845.000
• Custos de mão -de -obra direta: US $ 5.677.000
• Manufatura de sobrecarga: US $ 3.634.000

Salários de pessoal e engenharia

O total de despesas de pessoal para 2023 totalizou US $ 18.765.000:

Categoria de funcionários	Despesas salariais anuais
Equipe de engenharia	$8,234,000
Pessoal de fabricação	$6,543,000
Equipe administrativo	$3,988,000

Investimentos de infraestrutura de tecnologia

As despesas de capital de tecnologia e infraestrutura para 2023 totalizaram US $ 4.256.000:

• Sistemas de TI e software: US $ 1.876.000
• Atualizações de equipamentos de fabricação: US $ 2.380.000

Processos de garantia de qualidade e certificação

As despesas de controle de qualidade e certificação para 2023 foram de US $ 1.543.000, incluindo:

• Custos do processo de certificação: US $ 687.000
• Sistemas de gestão da qualidade: US $ 456.000
• Equipamento de teste e inspeção: US $ 400.000

Ultralife Corporation (ULBI) - Modelo de negócios: fluxos de receita

Vendas de contratos militares

Para o ano fiscal de 2022, a Ultralife Corporation registrou vendas de contratos militares de US $ 43,2 milhões, representando aproximadamente 38% da receita total da empresa.

Ano	Vendas militares ($ M)	Porcentagem da receita total
2022	43.2	38%
2021	39.7	35%

Vendas comerciais do sistema de baterias

As vendas comerciais do sistema de baterias da Ultralife Corporation em 2022 totalizaram US $ 31,5 milhões, representando 27% da receita total da empresa.

• Mercados primários: telecomunicações
• Mercados secundários: dispositivos médicos
• Mercados terciários: equipamento industrial

Serviços de engenharia personalizados

Os serviços de engenharia personalizados geraram US $ 12,8 milhões em receita para 2022, representando 11% da receita total da empresa.

Licenciamento de produtos e transferência de tecnologia

A receita de licenciamento de produtos para 2022 foi de US $ 6,5 milhões, constituindo aproximadamente 6% da receita total da empresa.

Categoria de licenciamento	Receita ($ m)
Tecnologia da bateria	4.2
Design do sistema de energia	2.3

Contratos contínuos de manutenção e apoio

Os contratos de manutenção e apoio contribuíram com US $ 9,5 milhões em receita para 2022, representando 8% da receita total da empresa.

Tipo de contrato	Receita ($ m)
Apoio de equipamentos militares	5.7
Manutenção do sistema comercial	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.