Ultralife Corp 2026年季度报告

FORM 10-Q (Mark One)☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period ended March 31, 2026OR☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from ____________ to ____________ Commission file number: 0-20852 ULTRALIFE CORPORATION(Exact name of registrant as specified in its charter) 16-1387013(I.R.S. Employer Identification No.) (Registrant’s telephone number, including area code) None (Former name, former address and former fiscal year, if changed since last report) Securities registered pursuant to Section 12(b) of the Act: ULBI(Trading Symbol) NASDAQ(Name of each exchange on whichregistered) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject tosuch filing requirements for the past 90 days. Yes☒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 tosubmit such files). Yes☒No☐ 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 “emerginggrowth company” in Rule 12b-2 of the Exchange Act. Accelerated filer☒Smaller reporting company☒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 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 4, 2026, the registrant had 16,656,669shares of common stock outstanding. ULTRALIFE CORPORATION AND SUBSIDIARIES INDEX PagePART I.FINANCIAL INFORMATIONItem 1.Consolidated Financial Statements (unaudited):Consolidated Balance Sheets as of March 31, 2026 and December 31, 20251Consolidated Statements of (Loss) Income and Comprehensive (Loss) Income for the Three-Month Periods Ended March 31,2026 and March 31, 20252Consolidated Statements of Cash Flows for the Three-Month Periods Ended March 31, 2026 and March 31, 20253Consolidated Statements of Changes in Stockholders’Equity for the Three-Month Periods Ended March 31, 2026 and March31, 20254Notes to Consolidated Financial Statements (unaudited)5Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations16Item 4.Controls and Procedures23PART II.OTHER INFORMATIONItem 6.Exhibits25Signatures26 ULTRALIFE CORPORATION AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETS(In Thousands except share amounts)(Unaudited) ULTRALIFE CORPORATION AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF (LOSS) INCOME AND COMPREHENSIVE (LOSS) INCOME(In Thousands except per share amounts)(Unaudited) ULTRALIFE CORPORATION AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWS(Dollars in Thousands)(Unaudited) ULTRALIFE CORPORATIONNOTES TO CONSOLIDATED FINANCIAL STATEMENTS(In thousands except share and per share amounts)(Unaudited) 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 necessaryfor a fair presentation of the consolidated financial statements have been included. Results for interim periods should not be considered indicativeof results to be expected for a full year. Reference should be made to the consolidated financial statements and related notes thereto contained inour Form 10-K for the year ended December 31, 2025. The December 31, 2025 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 beenreclassifiedto conform to the current presentation. Recent Accounting Guidance Not Yet Adopted In November 2024, the FASB issued ASU 2024-03 “Income Statement—Reporting Comprehensive Inc