Ultralife Corporation Sees Record Backlog and Revenue Growth Despite Challenging Q1
Ultralife Corporation, a leading provider of RF and portable power products, recently reported its first quarter 2026 results, highlighting a record backlog and revenue growth despite facing several challenges.
In a recent conference call, Mike Manna, President and CEO, and Phil Fain, Chief Financial Officer, provided insights into the company's performance during the quarter. The company announced Q1 revenue of $47.4 million, with an operating profit loss of $0.2 million, resulting in a loss of $0.03 per share.
According to Mike Manna, the challenging start to the year was due to various factors, including order shipment timing, shipment delays to Middle East customers, plant shutdowns for reorganization and weather events, and consultation fees. However, despite these challenges, the company has a growing backlog and product portfolio due to new product releases that it needs to support this year.
In response to the increased demand expected in 2026, Ultralife has added and trained direct labor resources in its Raynham and Newark facilities. This investment is critical for ensuring product quality, and the company now has new experienced plant leadership in both locations to drive manufacturing efficiencies and gross margin initiatives.
The Communications Systems business had another underwhelming quarter but has multiple new products and projects underway to grow baseline revenue and stabilize the business. Manna acknowledged that a large part of this business is government-related, with long development and procurement cycles for the products sold. Despite these challenges, the company believes in the upside of this business and continues to invest in product development to capture large, sustained revenue opportunities.
Ultralife exited the quarter with a record backlog of $115.1 million, with over $12 million of backlog from products released within the last 12 months. The company continues its brand realignment under the Ultralife brand, which will bring clear and concise messaging to customers that the company designs and delivers critical RF and portable power products.
The consolidated revenues totaled $47.4 million, compared to $50.7 million for the first quarter of 2025. Revenues from the Battery & Energy Products segment were $44 million. The company has filed its Form 10-Q with the SEC, which provides detailed financial information for the quarter.
