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Stock Price: $6.16 • 9/27/26
Ultralife Corporation (ULBI) makes specialized batteries and communications systems used in defense, medical and industrial equipment.
As military interest in drones grows, Ultralife has a timely battery opportunity. Its second quarter backlog reached a company record $117.5 million, up from $84.5 million a year earlier, while communications sales rose 39%. Management is developing batteries for water-based defense drones and expects several product programs to enter production later this year.
At about a $103 million market cap, the stock trades at approximately 0.5x annualized second quarter sales, a rough comparison rather than a forecast. The next quarterly update could draw attention if backlog converts to revenue. Sales slipped 1% year over year, $44.6 million of debt tempers the valuation, and a one-time tariff refund helped quarterly earnings.
Opinion: ULBI appears potentially undervalued amid demand for defense power systems, with near-term in-play potential if its record backlog and new battery programs translate into sustained earnings.
Daily closes 路 through Nov 11, 2026 路 Yahoo Finance
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