Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Current assets:
Cash	$ 9,345	$ 6,854
Trade accounts receivable, net of allowance for expected credit losses of $457 and $384, respectively	33,948	29,370
Inventories, net	54,008	51,363
Prepaid expenses and other current assets	8,500	9,573
Total current assets	105,801	97,160
Property, plant and equipment, net	40,397	40,485
Goodwill	45,376	45,006
Other intangible assets, net	10,933	24,557
Deferred income taxes, net	10,494	8,413
Other noncurrent assets	3,911	4,830
Total assets	216,912	220,451
Current liabilities:
Accounts payable	17,423	14,160
Current portion of long-term debt	4,125	2,750
Accrued compensation and related benefits	2,754	2,911
Accrued expenses and other current liabilities	13,031	9,470
Total current liabilities	37,333	29,291
Long-term debt, net	45,526	51,502
Deferred income taxes	1,000	1,443
Other noncurrent liabilities	2,919	4,028
Total liabilities	86,778	86,264
Commitments and Contingencies
Stockholders’ equity:
Preferred stock – par value $.10 per share; authorized 1,000,000 shares; none issued	0	0
Common stock – par value $.10 per share; authorized 40,000,000 shares; issued – 21,092,617 shares and 21,069,079 shares, respectively; outstanding – 16,656,503 shares and 16,632,965 shares, respectively	2,109	2,107
Capital in excess of par value	192,859	191,828
Accumulated deficit	(40,340)	(34,442)
Accumulated other comprehensive loss	(3,141)	(4,006)
Treasury stock - at cost; 4,436,114 shares and 4,436,114 shares, respectively	(21,492)	(21,492)
Total Ultralife Corporation equity	129,995	133,995
Non-controlling interest	139	192
Total stockholders’ equity	130,134	134,187
Total liabilities and stockholders’ equity	$ 216,912	$ 220,451