Ultralife Corp 2025年第几个季度的季度报告

(Mark One)☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR For the transition period from ____________ to ____________ ULTRALIFE CORPORATION (Exact name of registrant as specified in its charter) 16-1387013(I.R.S. Employer Identification No.) Indicate by check mark whether the registrant has submitted electronically every Interactive Data file required to be submitted pursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company,or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying withany new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒ As of May 8, 2025, the registrant had16,632,965shares of common stock outstanding. ULTRALIFE CORPORATION AND SUBSIDIARIES ULTRALIFE CORPORATION AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETS ULTRALIFE CORPORATIONNOTES TO CONSOLIDATED FINANCIAL STATEMENTS 1.BASIS OF PRESENTATION The accompanying unaudited consolidated financial statements of Ultralife Corporation and its subsidiaries (the “Company” or “Ultralife”) havebeen prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financialinformation and with the instructions to Rule 8-03 of Regulation S-X. Accordingly, they do not include all the information and notes for completefinancial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals and adjustments) considered necessary The December 31, 2024 consolidated balance sheet information referenced herein was derived from audited financial statements but does notinclude all disclosures required by GAAP. Certain items previously reported in specific financial statement captions have been reclassified to conform to the current presentation. Recently Adopted Accounting Guidance In November 2023, the FASB issued ASU 2023-07 “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”to expandthe disclosure requirements for reportable segments. The standard expands reportable segment disclosure requirements for public business entitiesprimarily through enhanced disclosures about significant segment expenses that are regularly provided to the chief operating decision maker(“CODM”) and included within each reported measure of segment operating profit (loss). This standard is effective for fiscal years beginning after Recent Accounting Guidance Not Yet Adopted In December 2023, the FASB issued ASU 2023-09 "Income Taxes (Topics 740): Improvements to Income Tax Disclosures" to expand thedisclosure requirements for income taxes, specifically related to the rate reconciliation and income taxes paid. ASU 2023-09 is effective for theCompany’s annual reporting period beginning January 1, 2025, however, these disclosures are not required for interim periods. The amendments In November 2024, the FASB issued ASU 2024-03 “Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures(Subtopic 220-40): Disaggregation of Income Statement Expenses” which requires public entities to disclose specified information about certaincosts and expenses. ASU 2024-03 is effective for the Company’s annual reporting period beginning January 1, 2027 and interim reporting periods 2.ACQUISITION On October 31, 2024, the Company completed the acquisition of all issued and outstanding shares of Electrochem Solutions, Inc., a Massachusettscorporation (“Electrochem”), pursuant to a stock purchase agreement (the “Agreement”) with Greatbatch Ltd., a New York corporation (the“Seller”), dated September 27, 2024 (the “Acquisition”). The Agreement established a purchase price of $50,000for the Acquisition subject to Based in Raynham, MA and with over forty years of battery technology experience in critical applications, Electrochem designs and manufacturesprimary lithium metal and ultracapacitor cells and battery packs serving energy, military and various environmental, industrial and utility endmarkets on a global basis. Acquiring Electrochem advances our strategy of more fully realizing the operating leverage of our business modelthrough scale and manufacturing cost efficiencies. Electrochem brings a blue-chip customer base with little or no overlap with Ultralife’scustomers, long-tenured technical resources which we plan to utilize in progressing our global new prod