Ultralife (ULBI) 10-Q 4 May 23 2023 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2023	Apr. 30, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	0-20852
Entity Registrant Name	ULTRALIFE CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	2000 Technology Parkway
Entity Address, City or Town	Newark
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	14513
Entity Tax Identification Number	16-1387013
City Area Code	315
Local Phone Number	332-7100
Title of 12(b) Security	Common Stock, $0.10 par value per share
Trading Symbol	ULBI
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		16,135,358
Entity Central Index Key	0000875657
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash	$ 5,605	$ 5,713
Trade accounts receivable, net of allowance for expected credit losses of $308 and $303, respectively	24,463	27,779
Inventories, net	47,311	41,192
Prepaid expenses and other current assets	3,973	4,304
Total current assets	81,352	78,988
Property, plant and equipment, net	21,412	21,716
Goodwill	37,518	37,428
Other intangible assets, net	15,747	15,921
Deferred income taxes, net	12,965	12,069
Other noncurrent assets	2,160	2,308
Total assets	171,154	168,430
Current liabilities:
Accounts payable	18,988	16,074
Current portion of long-term debt	2,000	2,000
Accrued compensation and related benefits	2,321	2,890
Accrued expenses and other current liabilities	5,890	7,949
Total current liabilities	29,199	28,913
Long-term debt	21,126	19,310
Deferred income taxes	2,456	1,917
Other noncurrent liabilities	1,969	1,887
Total liabilities	54,750	52,027
Shareholders’ 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 – 20,570,710shares at March 31, 2023 and 20,570,710 shares at December 31, 2022; outstanding – 16,135,358 shares at March 31, 2023 and 16,135,358shares at December 31, 2022	2,057	2,057
Capital in excess of par value	187,544	187,405
Accumulated deficit	(48,297)	(47,951)
Accumulated other comprehensive loss	(3,553)	(3,750)
Treasury stock - at cost; 4,435,352 shares at March 31, 2023 and 4,435,352 shares at December 31, 2022	(21,484)	(21,484)
Total Ultralife Corporation equity	116,267	116,277
Non-controlling interest	137	126
Total shareholders’ equity	116,404	116,403
Total liabilities and shareholders’ equity	$ 171,154	$ 168,430

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Trade accounts receivable, allowance for doubtful accounts	$ 308	$ 303
Preferred stock, par value (in dollars per share)	$ 0.10	$ 0.10
Preferred Stock, Shares Authorized (in shares)	1,000,000	1,000,000
Preferred Stock, Shares Issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common Stock, Shares Authorized (in shares)	40,000,000	40,000,000
Common stock, shares issued (in shares)	20,570,710	20,570,710
Common stock, shares outstanding (in shares)	16,135,358	16,135,358
Treasury Stock, Common, Shares (in shares)	4,435,352	4,435,352

Consolidated Statements of Loss

Consolidated Statements of Loss and Other Comprehensive Income (Loss) ( Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues	$ 31,916	$ 30,373
Cost of products sold	24,480	23,415
Gross profit	7,436	6,958
Operating expenses:
Research and development	2,032	1,857
Selling, general and administrative	5,378	5,396
Total operating expenses	7,410	7,253
Operating income (loss)	26	(295)
Other (expense) income:
Interest and financing expense	(424)	(134)
Miscellaneous (expense) income	(70)	17
Total other expense	(494)	(117)
Loss before income taxes	(468)	(412)
Income tax benefit	(133)	(251)
Net loss	(335)	(161)
Net income attributable to non-controlling interest	11	7
Net loss attributable to Ultralife Corporation	(346)	(168)
Other comprehensive income (loss):
Foreign currency translation adjustments	197	(236)
Comprehensive income (loss) attributable to Ultralife Corporation	$ 149	$ (404)
Net loss per share attributable to Ultralife common shareholders – basic (in dollars per share)	$ (0.02)	$ (0.01)
Net loss per share attributable to Ultralife common shareholders – diluted (in dollars per share)	$ (0.02)	$ (0.01)
Weighted average shares outstanding – basic (in shares)	16,135	16,104
Potential common shares (in shares)	0	0
Weighted average shares outstanding - diluted (in shares)	16,135	16,104

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
OPERATING ACTIVITIES:
Net loss	$ (335)	$ (161)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation	762	816
Amortization of intangible assets	209	328
Amortization of financing fees	16	7
Stock-based compensation	139	189
Deferred income taxes	(390)	(402)
Changes in operating assets and liabilities:
Accounts receivable	3,365	(2,724)
Inventories	(6,026)	(3,274)
Prepaid expenses and other assets	639	977
Accounts payable and other liabilities	256	1,022
Net cash used in operating activities	(1,365)	(3,222)
INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(497)	(371)
Net cash used in investing activities	(497)	(371)
FINANCING ACTIVITIES:
Borrowings on revolving credit facility	2,300	1,450
Payments on term loan facility	(500)	(333)
Proceeds from exercise of stock options	0	113
Tax withholdings on stock-based awards	0	(7)
Net cash provided by financing activities	1,800	1,223
Effect of exchange rate changes on cash	(46)	7
DECREASE IN CASH	(108)	(2,363)
Cash, Beginning of period	5,713	8,413
Cash, End of period	$ 5,605	$ 6,050

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Treasury Stock, Common [Member]	Noncontrolling Interest [Member]	Total
Balance (in shares) at Dec. 31, 2021	20,522,427
Balance at Dec. 31, 2021	$ 2,052	$ 186,518	$ (1,653)	$ (47,832)	$ (21,469)	$ 127	$ 117,743
Net loss				(168)		7	(161)
Stock option exercises (in shares)	38,369
Stock option exercises	$ 4	109			(7)		106
Stock-based compensation – stock options		181					181
Stock-based compensation – restricted stock		8					8
Foreign currency translation adjustments adjustments			(236)				(236)
Balance (in shares) at Mar. 31, 2022	20,560,796
Balance at Mar. 31, 2022	$ 2,056	186,816	(1,889)	(48,000)	(21,476)	134	$ 117,641
Balance (in shares) at Dec. 31, 2022	20,570,710						16,135,358
Balance at Dec. 31, 2022	$ 2,057	187,405	(3,750)	(47,951)	(21,484)	126	$ 116,403
Net loss				(346)		11	$ (335)
Stock option exercises (in shares)	0						0
Stock option exercises	$ 0	0			0		$ 0
Stock-based compensation – stock options		138					138
Stock-based compensation – restricted stock		1					1
Foreign currency translation adjustments adjustments			197				$ 197
Balance (in shares) at Mar. 31, 2023	20,570,710						16,135,358
Balance at Mar. 31, 2023	$ 2,057	$ 187,544	$ (3,553)	$ (48,297)	$ (21,484)	$ 137	$ 116,404

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Business Description and Accounting Policies [Text Block]	1. BASIS OF PRESENTATION The accompanying unaudited consolidated financial statements of Ultralife Corporation and its subsidiaries (the “Company” or “Ultralife”) have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and with the instructions to Rule 8-03 of Regulation S-X. Accordingly, they do not include all the information and notes for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals and adjustments) considered necessary for a fair presentation of the consolidated financial statements have been included. Results for interim periods should not be considered indicative of results to be expected for a full year. Reference should be made to the consolidated financial statements and related notes thereto contained in our Form 10-K for the year ended December 31, 2022. The December 31, 2022 consolidated balance sheet information referenced herein was derived from audited financial statements but does not include 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 June 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-13, “Financial Instruments – Credit Losses (Topic 326) – Measurement of Credit Losses on Financial Instruments”, which requires entities to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. This replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost. This guidance is effective for the Company for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022. The adoption of this new accounting standard did not have a material impact on our consolidated financial statements.

Note 2 - Debt

Note 2 - Debt	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Debt Disclosure [Text Block]	2. DEBT On December 13, 2021, Ultralife, Southwest Electronic Energy Corporation, a Texas corporation and wholly owned subsidiary of Ultralife (“SWE”), CLB, INC., a Texas corporation and wholly owned subsidiary of SWE (“CLB”), Ultralife Excell Holding Corp., a Delaware corporation and wholly owned subsidiary of Ultralife (“UEHC”), Ultralife Canada Holding Corp., a Delaware corporation and wholly owned subsidiary of UEHC (“UCHC”), and Excell Battery Corporation USA, a Texas corporation and wholly owned subsidiary of UEHC (“Excell USA”), as borrowers, entered into the Second Amendment Agreement with KeyBank National Association (“KeyBank” or the “Bank”), as lender and administrative agent, to amend the Credit and Security Agreement dated May 31, 2017 as amended by the First Amendment Agreement by and among Ultralife, SWE, CLB and KeyBank dated May 1, 2019 (the “Credit Agreement”). On November 28, 2022, Ultralife, SWE, CLB, UEHC, UCHC, Excell USA, and Excell Battery Canada ULC, a British Columbia unlimited liability corporation and wholly owned subsidiary of UCHC (“Excell Canada”), entered into that certain Third Amendment Agreement with KeyBank, to further amend the Credit Agreement to, among other things, facilitate the joinder of Excell Canada as a guarantor under the Credit Agreement and to replace the LIBOR benchmark thereunder with SOFR (the “Third Amendment Agreement”, and together with the Second Amendment Agreement and the Credit Agreement, the “Amended Credit Agreement”). The Amended Credit Agreement, among other things, provides for a 5-year, $10,000 senior secured term loan (the “Term Loan Facility”) and extends the term of the $30,000 senior secured revolving credit facility (the “Revolving Credit Facility”, and together with the Term Loan Facility, the “Amended Credit Facilities”) through May 30, 2025. Up to six months prior to May 30, 2025, the Revolving Credit Facility may be increased to $50,000 with the Bank’s concurrence. As of March 31, 2023, the Company had $7,667 outstanding principal on the Term Loan Facility, $2,000 of which is included in current portion of long-term debt on the balance sheet, and $15,630 outstanding on the Revolving Credit Facility. As of March 31, 2023, total unamortized debt issuance costs of $171, including placement, renewal and legal fees associated with the Amended Credit Agreement, are classified as a reduction of long-term debt on the balance sheet. Debt issuance costs are amortized to interest expense over the term of the Amended Credit Facilities. The remaining availability under the Revolving Credit Facility is subject to certain borrowing base limits based on trade receivables and inventories. The Company is required to repay the borrowings under the Term Loan Facility in equal consecutive monthly payments commencing on February 1, 2022, in arrears, together with applicable interest. All unpaid principal and accrued and unpaid interest with respect to the Term Loan Facility is due and payable in full on January 1, 2027. All unpaid principal and accrued and unpaid interest with respect to the Revolving Credit Facility is due and payable in full on May 30, 2025. The Company may voluntarily prepay principal amounts outstanding at any time subject to certain restrictions. In addition to the customary affirmative and negative covenants, the Company must maintain a Consolidated Senior Leverage Ratio, as defined in the Amended Credit Agreement, of equal to or less than 3.5 to 1.0 for the fiscal quarters ending December 31, 2022 and March 31, 2023, and equal to or less than 3.0 to 1.0 for the fiscal quarters ending June 30, 2023 and thereafter. The Company was in full compliance with its covenants under the Amended Credit Agreement as of March 31, 2023. Borrowings under the Amended Credit Facilities are secured by substantially all the assets of the Company and its subsidiaries. Upon the effectiveness of the Third Amendment Agreement, interest accrues on outstanding indebtedness under the Amended Credit Facilities at the Daily Simple SOFR Rate, plus an index spread adjustment of 0.10%, plus the applicable margin. The applicable margin ranges from 185 to 215 basis points and is determined based on the Company’s senior leverage ratio. The Company must pay a fee of 0.15% to 0.25% based on the average daily unused availability under the Revolving Credit Facility. Payments must be made by the Company to the extent borrowings exceed the maximum amount then permitted to be drawn on the Amended Credit Facilities and from the proceeds of certain transactions. Upon the occurrence of an event of default, the outstanding obligations may be accelerated, and the Bank will have other customary remedies including resort to the security interest the Company provided to the Bank.

Note 3 - Earnings Per Share

Note 3 - Earnings Per Share	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Earnings Per Share [Text Block]	3. EARNINGS PER SHARE Basic earnings (loss) per share (“EPS”) is computed by dividing net income (loss) attributable to Ultralife by the weighted average shares outstanding during the period. Diluted EPS includes the dilutive effect of securities, if any, and is calculated using the treasury stock method. For the three-month period ended March 31, 2023, there were no outstanding awards included in the calculation of diluted weighted average shares outstanding and no potential common shares included in the calculation of diluted EPS, as no securities were dilutive. There were 1,420,611 outstanding stock options and 2,500 unvested restricted stock awards not included in the calculation of diluted EPS for the three-month period ended March 31, 2023, as the effect would be antidilutive. For the comparable three-month period ended March 31, 2022, there were 1,204,490 outstanding stock options and 11,664 unvested restricted stock awards not included in the calculation of diluted EPS, as the effect would be antidilutive.

Note 4 - Supplemental Balance S

Note 4 - Supplemental Balance Sheet Information	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Supplemental Balance Sheet Disclosures [Text Block]	4. SUPPLEMENTAL BALANCE SHEET INFORMATION Fair Value Measurements and Disclosures The fair value of financial instruments approximated their carrying values at March 31, 2023 and December 31, 2022. The fair value of cash, accounts receivable, accounts payable, accrued liabilities, and the current portion of long-term debt approximates carrying value due to the short-term nature of these instruments. Cash The composition of the Company’s cash was as follows: March 31, December 31, 2023 2022 Cash $ 5,524 $ 5,634 Restricted cash 81 79 Total $ 5,605 $ 5,713 As of March 31, 2023 and December 31, 2022, restricted cash included $81 and $79, respectively, of euro-denominated deposits withheld by the Dutch tax authorities and third-party VAT representatives in connection with a previously utilized logistics arrangement in the Netherlands. Restricted cash is included as a component of the cash balance for purposes of the consolidated statements of cash flows. Inventories, Net Inventories are stated at the lower of cost or net realizable value, net of obsolescence reserves, with cost determined under the first-in, first-out (FIFO) method. The composition of inventories, net was: March 31, December 31, 2023 2022 Raw materials $ 32,960 $ 29,200 Work in process 4,594 2,757 Finished goods 9,757 9,235 Total $ 47,311 $ 41,192 Property, Plant and Equipment, Net Major classes of property, plant and equipment consisted of the following: March 31, December 31, 2023 2022 Land $ 1,273 $ 1,273 Buildings and leasehold improvements 15,605 15,572 Machinery and equipment 64,132 63,981 Furniture and fixtures 2,825 2,845 Computer hardware and software 7,687 7,744 Construction in process 1,642 1,245 93,164 92,660 Less: Accumulated depreciation (71,752 ) (70,944 ) Property, plant and equipment, net $ 21,412 $ 21,716 Depreciation expense for property, plant and equipment was $762 and $816 for the three-month periods ended March 31, 2023 and March 31, 2022, respectively. Goodwill The following table summarizes the goodwill activity by segment for the three-month period ended March 31, 2023. Battery & Energy Communications Products Systems Total Balance – December 31, 2022 $ 25,935 $ 11,493 $ 37,428 Effect of foreign currency translation 90 - 90 Balance – March 31, 2023 $ 26,025 $ 11,493 $ 37,518 Other Intangible Assets, Net The composition of other intangible assets was: at March 31, 2023 Accumulated Cost Amortization Net Customer relationships $ 13,021 $ 6,166 $ 6,855 Patents and technology 5,577 5,214 363 Trade names 4,637 555 4,082 Trademarks 3,405 - 3,405 Other 1,500 458 1,042 Total other intangible assets $ 28,140 $ 12,393 $ 15,747 at December 31, 2022 Accumulated Cost Amortization Net Customer relationships $ 12,970 $ 5,992 $ 6,978 Patents and technology 5,557 5,171 386 Trade names 4,629 522 4,107 Trademarks 3,404 - 3,404 Other 1,500 454 1,046 Total other intangible assets $ 28,060 $ 12,139 $ 15,921 The change in the cost of total intangible assets from December 31, 2022 to March 31, 2023 is the effect of foreign currency translations. Amortization expense for intangible assets was $209 and $328 for the three-month periods ended March 31, 2023 and March 31, 2022, respectively. Amortization included in selling, general and administrative expenses was $185 and $302 for the three-month periods ended March 31, 2023 and March 31, 2022, respectively. Amortization included in research and development expenses was $24 and $26 for the three-month periods ended March 31, 2023 and March 31, 2022, respectively.

Note 5 - Stock-based Compensati

Note 5 - Stock-based Compensation	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Shareholders' Equity and Share-Based Payments [Text Block]	5. STOCK-BASED COMPENSATION We recorded non-cash stock compensation expense in each period as follows: Three-month period ended March 31, March 31, 2023 2022 Stock options $ 138 $ 181 Restricted stock grants 1 8 Total $ 139 $ 189 We have stock options outstanding from various stock-based employee compensation plans for which we record compensation cost relating to share-based payment transactions in our financial statements. As of March 31, 2023, there was $553 of total unrecognized compensation cost related to outstanding stock options, which is expected to be recognized over a weighted average period of 1.2 years. The following table summarizes stock option activity for the three-month period ended March 31, 2023: Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value Outstanding at January 1, 2023 1,425,693 $ 6.72 Granted 12,500 4.07 Exercised - - Forfeited or expired (17,582 ) $ 7.57 Outstanding at March 31, 2023 1,420,611 $ 6.69 3.58 $ 0 Vested and expected to vest at March 31, 2023 1,295,019 $ 6.75 3.40 $ 0 Exercisable at March 31, 2023 911,553 $ 7.09 2.29 $ 0 Cash received from stock option exercises under our stock-based compensation plans for the three-month periods ended March 31, 2023 and March 31, 2022 was $0 and $113, respectively. Outstanding restricted shares vest in equal annual installments over three

Note 6 - Income Taxes

Note 6 - Income Taxes	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Income Tax Disclosure [Text Block]	6. INCOME TAXES Our effective tax rate for the three-month periods ended March 31, 2023 and March 31, 2022 was 28.4% and 60.9%, respectively. The period-over-period change was primarily attributable to the geographic mix of our operating results and the larger impact of discrete adjustments in the prior year. As of December 31, 2022, we have domestic net operating loss (“NOL”) carryforwards of $40,952, which expire 2025 through 2035, and domestic tax credits of $2,600, which expire 2028 through 2042, available to reduce future taxable income. As of March 31, 2023, management has concluded it is more likely than not that these domestic NOL and credit carryforwards will be fully utilized. As of March 31, 2023, for certain past operations in the U.K., we continue to report a valuation allowance for NOL carryforwards of approximately $10,000, nearly all of which can be carried forward indefinitely. Utilization of the net operating losses may be limited due to the change in the past U.K. operation and cannot currently be used to reduce taxable income at our other U.K. subsidiary, Accutronics Ltd. There are no other deferred tax assets related to the past U.K. operations. As of March 31, 2023, we have not As of March 31, 2023, the Company maintains its assertion that all foreign earnings will be indefinitely reinvested in those operations, other than earnings generated in the U.K. There were no As a result of our operations, we file income tax returns in various jurisdictions including U.S. federal, U.S. state and foreign jurisdictions. We are routinely subject to examination by taxing authorities in these various jurisdictions. Our U.S. tax matters for 2019-2022 remain subject to IRS examination. Our U.S. tax matters for 2005 2005 2013

Note 7 - Operating Leases

Note 7 - Operating Leases	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	7. OPERATING LEASES The Company has operating leases predominantly for operating facilities. As of March 31, 2023, the remaining lease terms on our operating leases range from approximately one ( 1 The components of lease expense for the current and prior-year comparative periods were as follows: Three-month period ended March 31, 2023 2022 Operating lease cost $ 241 $ 233 Variable lease cost 28 24 Total lease cost $ 269 $ 257 Supplemental cash flow information related to leases was as follows: Three-month period ended March 31, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 226 $ 227 Right-of-use assets obtained in exchange for lease liabilities: $ - $ - Supplemental consolidated balance sheet information related to leases was as follows: Balance sheet classification March 31, 2023 December 31, 2022 Assets: Operating lease right-of-use asset Other noncurrent assets $ 2,039 $ 2,187 Liabilities: Current operating lease liability Accrued expenses and other current liabilities $ 906 $ 895 Operating lease liability, net of current portion Other noncurrent liabilities 1,130 1,307 Total operating lease liability $ 2,036 $ 2,202 Weighted-average remaining lease term (years) 4.7 4.7 Weighted-average discount rate 4.5 % 4.5 % Future minimum lease payments as of March 31, 2023 are as follows: Maturity of operating lease liabilities 2023 697 2024 519 2025 215 2026 217 2027 217 Thereafter 426 Total lease payments 2,291 Less: Imputed interest (255 ) Present value of remaining lease payments $ 2,036

Note 8 - Commitments and Contin

Note 8 - Commitments and Contingencies	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	8. COMMITMENTS AND CONTINGENCIES Purchase Commitments As of March 31, 2023, we have made commitments to purchase approximately $873 of production machinery and equipment. Product Warranties We estimate future warranty costs to be incurred for product failure rates, material usage and service costs in the development of our warranty obligations. Estimated future costs are based on actual past experience and are generally estimated as a percentage of sales over the warranty period. Changes in our product warranty liability during the first three months of 2023 and 2022 were as follows: Three-month period ended March 31, 2023 2022 Accrued warranty obligations – beginning $ 323 $ 133 Accruals for warranties issued 84 18 Settlements made (21 ) (31 ) Accrued warranty obligations – ending $ 386 $ 120 Contingencies and Legal Matters We are subject to legal proceedings and claims that arise from time to time in the normal course of business. We believe that the final disposition of any such matters will not have a material adverse effect on the Company’s financial position, results of operations or cash flows. However, recognizing that legal matters are subject to inherent uncertainties, there exists the possibility that ultimate resolution of these matters could have a material adverse impact on the Company’s financial position, results of operations or cash flows. We are not aware of any such situations at this time.

Note 9 - Revenue Recognition

Note 9 - Revenue Recognition	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	9. REVENUE RECOGNITION Revenues are generated from the sale of products. Performance obligations are met and revenue is recognized upon transfer of control to the customer, which is generally upon shipment. When contract terms require transfer of control upon delivery at a customer’s location, revenue is recognized on the date of delivery. For products shipped under vendor-managed inventory arrangements, revenue is recognized and billed when the product is consumed by the customer, at which point control has transferred and there are no further obligations by the Company. Revenue is measured as the amount of consideration we expect to receive in exchange for shipped product. Sales, value-added and other taxes billed and collected from customers are excluded from revenue. Customers, including distributors, do not have a general right of return. Separately priced extended warranty contracts are offered on certain Communications Systems products for a duration of up to eight (8) years. Extended warranties are treated as separate performance obligations and recognized to revenue evenly over the term of the respective contract. Revenue not yet recognized on extended warranty contracts is recorded as deferred revenue on the consolidated balance sheet. As of March 31, 2023, there was deferred revenue on extended warranty contracts of $985, comprised of $164 expected to be recognized as revenue within one (1) year and classified as accrued expenses and other current liabilities on our consolidated balance sheet, and $821 expected to be recognized as revenue over the remaining duration of the respective contracts and classified as other noncurrent liabilities on our consolidated balance sheet. As of December 31, 2022, there was deferred revenue on extended warranty contracts of $682, comprised of $119 expected to be recognized as revenue within one (1) year and classified as accrued expenses and other current liabilities on our consolidated balance sheet, and $563 expected to be recognized as revenue over the remaining duration of the respective contracts and classified as other noncurrent liabilities on our consolidated balance sheet. As of March 31, 2023 and December 31, 2022, the Company had no other unsatisfied performance obligations for contracts with an original expected duration of greater than one year. Pursuant to Topic 606, we have applied the practical expedient with respect to disclosure of the deferral and future expected timing of revenue recognition for transaction price allocated to remaining performance obligations.

Note 10 - Business Segment Info

Note 10 - Business Segment Information	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	10. BUSINESS SEGMENT INFORMATION We report our results in two Three-month period ended March 31, 2023: Battery & Energy Products Communications Systems Corporate Total Revenues $ 28,470 $ 3,446 $ - $ 31,916 Segment contribution 6,512 924 (7,410 ) 26 Other expense (494 ) (494 ) Tax benefit 133 133 Non-controlling interest (11 ) (11 ) Net loss attributable to Ultralife $ (346 ) Three-month period ended March 31, 2022: Battery & Energy Products Communications Systems Corporate Total Revenues $ 29,150 $ 1,223 $ - $ 30,373 Segment contribution 6,721 237 (7,253 ) (295 ) Other expense (117 ) (117 ) Tax benefit 251 251 Non-controlling interest (7 ) (7 ) Net income attributable to Ultralife $ (168 ) The following tables disaggregate our business segment revenues by major source and geography. Commercial and Government/Defense Revenue Information: Three-month period ended March 31, 2023: Total Revenue Commercial Government/ Defense Battery & Energy Products $ 28,470 $ 22,219 $ 6,251 Communications Systems 3,446 - 3,446 Total $ 31,916 $ 22,219 $ 9,697 70 % 30 % Three-month period ended March 31, 2022: Total Revenue Commercial Government/ Defense Battery & Energy Products $ 29,150 $ 22,594 $ 6,556 Communications Systems 1,223 - 1,223 Total $ 30,373 $ 22,594 $ 7,779 74 % 26 % U.S. and Non-U.S. Revenue Information 1 : Three-month period ended March 31, 2023: Total Revenue United States Non-United States Battery & Energy Products $ 28,470 $ 13,768 $ 14,702 Communications Systems 3,446 2,877 569 Total $ 31,916 $ 16,645 $ 15,271 52 % 48 % Three-month period ended March 31, 2022: Total Revenue United States Non-United States Battery & Energy Products $ 29,150 $ 14,540 $ 14,610 Communications Systems 1,223 1,152 71 Total $ 30,373 $ 15,692 $ 14,681 52 % 48 % 1

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Guidance

Note 4 - Supplemental Balance_2

Note 4 - Supplemental Balance Sheet Information (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Cash, Cash Equivalents and Investments [Table Text Block]	March 31, December 31, 2023 2022 Cash $ 5,524 $ 5,634 Restricted cash 81 79 Total $ 5,605 $ 5,713
Schedule of Inventory, Current [Table Text Block]	March 31, December 31, 2023 2022 Raw materials $ 32,960 $ 29,200 Work in process 4,594 2,757 Finished goods 9,757 9,235 Total $ 47,311 $ 41,192
Property, Plant and Equipment [Table Text Block]	March 31, December 31, 2023 2022 Land $ 1,273 $ 1,273 Buildings and leasehold improvements 15,605 15,572 Machinery and equipment 64,132 63,981 Furniture and fixtures 2,825 2,845 Computer hardware and software 7,687 7,744 Construction in process 1,642 1,245 93,164 92,660 Less: Accumulated depreciation (71,752 ) (70,944 ) Property, plant and equipment, net $ 21,412 $ 21,716
Schedule of Goodwill [Table Text Block]	Battery & Energy Communications Products Systems Total Balance – December 31, 2022 $ 25,935 $ 11,493 $ 37,428 Effect of foreign currency translation 90 - 90 Balance – March 31, 2023 $ 26,025 $ 11,493 $ 37,518
Schedule of Finite-Lived Intangible Assets [Table Text Block]	at March 31, 2023 Accumulated Cost Amortization Net Customer relationships $ 13,021 $ 6,166 $ 6,855 Patents and technology 5,577 5,214 363 Trade names 4,637 555 4,082 Trademarks 3,405 - 3,405 Other 1,500 458 1,042 Total other intangible assets $ 28,140 $ 12,393 $ 15,747 at December 31, 2022 Accumulated Cost Amortization Net Customer relationships $ 12,970 $ 5,992 $ 6,978 Patents and technology 5,557 5,171 386 Trade names 4,629 522 4,107 Trademarks 3,404 - 3,404 Other 1,500 454 1,046 Total other intangible assets $ 28,060 $ 12,139 $ 15,921

Note 5 - Stock-based Compensa_2

Note 5 - Stock-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award [Table Text Block]	Three-month period ended March 31, March 31, 2023 2022 Stock options $ 138 $ 181 Restricted stock grants 1 8 Total $ 139 $ 189
Share-Based Payment Arrangement, Option, Activity [Table Text Block]	Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value Outstanding at January 1, 2023 1,425,693 $ 6.72 Granted 12,500 4.07 Exercised - - Forfeited or expired (17,582 ) $ 7.57 Outstanding at March 31, 2023 1,420,611 $ 6.69 3.58 $ 0 Vested and expected to vest at March 31, 2023 1,295,019 $ 6.75 3.40 $ 0 Exercisable at March 31, 2023 911,553 $ 7.09 2.29 $ 0

Note 7 - Operating Leases (Tabl

Note 7 - Operating Leases (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Lease, Cost [Table Text Block]	Three-month period ended March 31, 2023 2022 Operating lease cost $ 241 $ 233 Variable lease cost 28 24 Total lease cost $ 269 $ 257
Lessee, Lease, Cash Flow Information [Table Text Block]	Three-month period ended March 31, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 226 $ 227 Right-of-use assets obtained in exchange for lease liabilities: $ - $ -
Lessee, Lease, Balance Sheet Information [Table Text Block]	Balance sheet classification March 31, 2023 December 31, 2022 Assets: Operating lease right-of-use asset Other noncurrent assets $ 2,039 $ 2,187 Liabilities: Current operating lease liability Accrued expenses and other current liabilities $ 906 $ 895 Operating lease liability, net of current portion Other noncurrent liabilities 1,130 1,307 Total operating lease liability $ 2,036 $ 2,202 Weighted-average remaining lease term (years) 4.7 4.7 Weighted-average discount rate 4.5 % 4.5 %
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]	Maturity of operating lease liabilities 2023 697 2024 519 2025 215 2026 217 2027 217 Thereafter 426 Total lease payments 2,291 Less: Imputed interest (255 ) Present value of remaining lease payments $ 2,036

Note 8 - Commitments and Cont_2

Note 8 - Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Schedule of Product Warranty Liability [Table Text Block]	Three-month period ended March 31, 2023 2022 Accrued warranty obligations – beginning $ 323 $ 133 Accruals for warranties issued 84 18 Settlements made (21 ) (31 ) Accrued warranty obligations – ending $ 386 $ 120

Note 10 - Business Segment In_2

Note 10 - Business Segment Information (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Battery & Energy Products Communications Systems Corporate Total Revenues $ 28,470 $ 3,446 $ - $ 31,916 Segment contribution 6,512 924 (7,410 ) 26 Other expense (494 ) (494 ) Tax benefit 133 133 Non-controlling interest (11 ) (11 ) Net loss attributable to Ultralife $ (346 ) Battery & Energy Products Communications Systems Corporate Total Revenues $ 29,150 $ 1,223 $ - $ 30,373 Segment contribution 6,721 237 (7,253 ) (295 ) Other expense (117 ) (117 ) Tax benefit 251 251 Non-controlling interest (7 ) (7 ) Net income attributable to Ultralife $ (168 )
Schedule of Revenues from External Customers by Business Segment Sector [Table Text Block]	Total Revenue Commercial Government/ Defense Battery & Energy Products $ 28,470 $ 22,219 $ 6,251 Communications Systems 3,446 - 3,446 Total $ 31,916 $ 22,219 $ 9,697 70 % 30 % Total Revenue Commercial Government/ Defense Battery & Energy Products $ 29,150 $ 22,594 $ 6,556 Communications Systems 1,223 - 1,223 Total $ 30,373 $ 22,594 $ 7,779 74 % 26 % Total Revenue United States Non-United States Battery & Energy Products $ 28,470 $ 13,768 $ 14,702 Communications Systems 3,446 2,877 569 Total $ 31,916 $ 16,645 $ 15,271 52 % 48 % Total Revenue United States Non-United States Battery & Energy Products $ 29,150 $ 14,540 $ 14,610 Communications Systems 1,223 1,152 71 Total $ 30,373 $ 15,692 $ 14,681 52 % 48 %

Note 2 - Debt (Details Textual)

Note 2 - Debt (Details Textual) - Amended Credit Agreement [Member] $ in Thousands	Dec. 13, 2021 USD ($)	Jun. 30, 2023	Mar. 31, 2023 USD ($)	Dec. 31, 2022
Debt Issuance Costs, Gross			$ 171
Term Loan Facility [Member] | Long-term Debt, Current Maturities [Member]
Secured Debt, Total			2,000
Revolving Credit Facility [Member]
Secured Debt, Total			7,667
Long-Term Line of Credit, Total			$ 15,630
Maximum Consolidated Senior Leverage Ratio			3.5	3.5
Revolving Credit Facility [Member] | Minimum [Member]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.15%
Revolving Credit Facility [Member] | Maximum [Member]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.25%
Revolving Credit Facility [Member] | Secured Overnight Financing Rate (SOFR) [Member]
Debt Instrument, Basis Spread on Variable Rate	0.10%
Revolving Credit Facility [Member] | Secured Overnight Financing Rate (SOFR) [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	1.85%
Revolving Credit Facility [Member] | Secured Overnight Financing Rate (SOFR) [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	2.15%
Revolving Credit Facility [Member] | Forecast [Member]
Maximum Consolidated Senior Leverage Ratio		3
KeyBank [Member] | Term Loan Facility [Member]
Debt Instrument, Term	5 years
Debt Instrument, Face Amount	$ 10,000
KeyBank [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	30,000
Line Of Credit Facility Maximum Borrowing Capacity Contingent On Bank Approval	$ 50,000

Note 3 - Earnings Per Share (De

Note 3 - Earnings Per Share (Details Textual) - shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-Based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1,420,611	1,204,490
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,500	11,664

Note 4 - Supplemental Balance_3

Note 4 - Supplemental Balance Sheet Information (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Restricted Cash and Cash Equivalents	$ 81		$ 79
Depreciation	762	$ 816
Amortization of Intangible Assets	209	328
Selling, General and Administrative Expenses [Member]
Amortization of Intangible Assets	185	302
Research and Development Expense [Member]
Amortization of Intangible Assets	24	$ 26
NETHERLANDS
Restricted Cash and Cash Equivalents	$ 81		$ 79

Note 4 - Supplemental Balance_4

Note 4 - Supplemental Balance Sheet Information - Cash and Restricted Cash (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Cash	$ 5,524	$ 5,634
Restricted cash	81	79
Total	$ 5,605	$ 5,713	$ 6,050	$ 8,413

Note 4 - Supplemental Balance_5

Note 4 - Supplemental Balance Sheet Information - Components of Inventory (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Raw materials	$ 32,960	$ 29,200
Work in process	4,594	2,757
Finished goods	9,757	9,235
Total	$ 47,311	$ 41,192

Note 4 - Supplemental Balance_6

Note 4 - Supplemental Balance Sheet Information - Components of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Property, plant and equipment, gross	$ 93,164	$ 92,660
Less: Accumulated depreciation	(71,752)	(70,944)
Property, plant and equipment, net	21,412	21,716
Land [Member]
Property, plant and equipment, gross	1,273	1,273
Building and Building Improvements [Member]
Property, plant and equipment, gross	15,605	15,572
Machinery and Equipment [Member]
Property, plant and equipment, gross	64,132	63,981
Furniture and Fixtures [Member]
Property, plant and equipment, gross	2,825	2,845
Computer Equipment [Member]
Property, plant and equipment, gross	7,687	7,744
Construction in Progress [Member]
Property, plant and equipment, gross	$ 1,642	$ 1,245

Note 4 - Supplemental Balance_7

Note 4 - Supplemental Balance Sheet Information - Summary of Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Balance	$ 37,428
Effect of foreign currency translation	90
Balance	37,518
Battery & Energy Products Segment [Member]
Balance	25,935
Effect of foreign currency translation	90
Balance	26,025
Communications Systems Segment [Member]
Balance	11,493
Effect of foreign currency translation	0
Balance	$ 11,493

Note 4 - Supplemental Balance_8

Note 4 - Supplemental Balance Sheet Information - Composition of Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Cost	$ 28,140	$ 28,060
Accumulated Amortization	12,393	12,139
Net	15,747	15,921
Customer Relationships [Member]
Cost	13,021	12,970
Accumulated Amortization	6,166	5,992
Net	6,855	6,978
Patented Technology [Member]
Cost	5,577	5,557
Accumulated Amortization	5,214	5,171
Net	363	386
Trade Names [Member]
Cost	4,637	4,629
Accumulated Amortization	555	522
Net	4,082	4,107
Trademarks [Member]
Cost	3,405	3,404
Accumulated Amortization	0	0
Net	3,405	3,404
Other Intangible Assets [Member]
Cost	1,500	1,500
Accumulated Amortization	458	454
Net	$ 1,042	$ 1,046

Note 5 - Stock-based Compensa_3

Note 5 - Stock-based Compensation (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Proceeds from Stock Options Exercised	$ 0	$ 113
Share-Based Payment Arrangement, Option [Member]
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 553
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	1 year 2 months 12 days
Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number	2
Restricted Stock [Member] | The 2014 Long-term Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)	3 years

Note 5 - Stock-based Compensa_4

Note 5 - Stock-based Compensation - Non-cash Stock Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Stock options	$ 139	$ 189
Share-Based Payment Arrangement, Option [Member]
Stock options	138	181
Restricted Stock [Member]
Stock options	$ 1	$ 8

Note 5 - Stock-based Compensa_5

Note 5 - Stock-based Compensation - Stock Option Activity (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($) $ / shares shares
Outstanding, shares (in shares) | shares	1,425,693
Outstanding, weighted average exercise price (in dollars per share) | $ / shares	$ 6.72
Granted, shares (in shares) | shares	12,500
Granted, weighted average exercise price (in dollars per share) | $ / shares	$ 4.07
Exercised, shares (in shares) | shares	0
Exercised, weighted average exercise price (in dollars per share) | $ / shares	$ 0
Forfeited or expired, shares (in shares) | shares	(17,582)
Forfeited or expired, weighted average exercise price (in dollars per share) | $ / shares	$ 7.57
Outstanding, shares (in shares) | shares	1,420,611
Outstanding, weighted average exercise price (in dollars per share) | $ / shares	$ 6.69
Outstanding, weighted average remaining contractual term (Year)	3 years 6 months 29 days
Outstanding, aggregate intrinsic value | $	$ 0
Vested and expected to vest, shares (in shares) | shares	1,295,019
Vested and expected, weighted average exercise price (in dollars per share) | $ / shares	$ 6.75
Vested and expected to vest, weighted average remaining contractual term (Year)	3 years 4 months 24 days
Vested and expected to vest, aggregate intrinsic value | $	$ 0
Exercisable, shares (in shares) | shares	911,553
Exercisable, weighted average exercise price (in dollars per share) | $ / shares	$ 7.09
Exercisable, weighted average remaining contractual term (Year)	2 years 3 months 14 days
Exercisable, aggregate intrinsic value | $	$ 0

Note 6 - Income Taxes (Details

Note 6 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Effective Income Tax Rate Reconciliation, Percent	28.40%	60.90%
Unrecognized Tax Benefits, Ending Balance	$ 0		$ 0
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member]
Operating Loss Carryforwards			40,952
Tax Credit Carryforward, Amount			$ 2,600
Open Tax Year	2005 2006 2007 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Foreign Tax Authority [Member]
Deferred Tax Assets, Valuation Allowance	$ 0
Open Tax Year	2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Foreign Tax Authority [Member] | Her Majesty's Revenue and Customs (HMRC) [Member]
Operating Loss Carryforwards	$ 10,000
State and Local Jurisdiction [Member]
Open Tax Year	2005 2006 2007 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Note 7 - Operating Leases (Deta

Note 7 - Operating Leases (Details Textual)	Mar. 31, 2023
Minimum [Member]
Lessee, Operating Lease, Remaining Lease Term (Year)	1 year
Maximum [Member]
Lessee, Operating Lease, Remaining Lease Term (Year)	9 years

Note 7 - Operating Leases - Lea

Note 7 - Operating Leases - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Operating lease cost	$ 241	$ 233
Variable lease cost	28	24
Total lease cost	$ 269	$ 257

Note 7 - Operating Leases - Sup

Note 7 - Operating Leases - Supplement Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Operating cash flows from operating leases	$ 226	$ 227
Right-of-use assets obtained in exchange for lease liabilities:	$ 0	$ 0

Note 7 - Operating Leases - S_2

Note 7 - Operating Leases - Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Weighted-average remaining lease term (years) (Year)	4 years 8 months 12 days	4 years 8 months 12 days
Weighted-average discount rate	4.50%	4.50%
Other Noncurrent Assets [Member]
Operating lease right-of-use asset	$ 2,039	$ 2,187
Accrued Expenses and Other Current Liabilities [Member]
Current operating lease liability	906	895
Other Noncurrent Liabilities [Member]
Operating lease liability, net of current portion	1,130	1,307
Accrued Expenses and Other Current Liabilites and Other Noncurrent Liabilities [Member]
Total operating lease liability	$ 2,036	$ 2,202

Note 7 - Operating Leases - Fut

Note 7 - Operating Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
2023	$ 697
2024	519
2025	215
2026	217
2027	217
Thereafter	426
Total lease payments	2,291
Less: Imputed interest	(255)
Accrued Expenses and Other Current Liabilites and Other Noncurrent Liabilities [Member]
Present value of remaining lease payments	$ 2,036	$ 2,202

Note 8 - Commitments and Cont_3

Note 8 - Commitments and Contingencies (Details Textual) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Capital Addition Purchase Commitments [Member]
Long-Term Purchase Commitment, Amount	$ 873

Note 8 - Commitments and Cont_4

Note 8 - Commitments and Contingencies - Changes in Produce Warranty Liability (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Accrued warranty obligations – beginning	$ 323	$ 133
Accruals for warranties issued	84	18
Settlements made	(21)	(31)
Accrued warranty obligations – ending	$ 386	$ 120

Note 9 - Revenue Recognition (D

Note 9 - Revenue Recognition (Details Textual) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Extended Product Warranty Accrual	$ 985	$ 682
Accrued Expenses and Other Current Liabilities [Member]
Extended Product Warranty Accrual, Current	164	119
Other Noncurrent Liabilities [Member]
Extended Product Warranty Accrual, Noncurrent	$ 821	$ 563

Note 10 - Business Segment In_3

Note 10 - Business Segment Information (Details Textual)	3 Months Ended
	Mar. 31, 2023
Number of Operating Segments	2

Note 10 - Business Segment In_4

Note 10 - Business Segment Information - Segment Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues	$ 31,916	$ 30,373
Segment contribution	26	(295)
Other expense	(494)	(117)
Tax benefit	133	251
Non-controlling interest	(11)	(7)
Net loss attributable to Ultralife	(346)	(168)
Battery & Energy Products Segment [Member]
Revenues	28,470	29,150
Segment contribution	6,512	6,721
Communications Systems Segment [Member]
Revenues	3,446	1,223
Segment contribution	924	237
Corporate Segment [Member]
Revenues	0	0
Segment contribution	(7,410)	(7,253)
Other expense	(494)	(117)
Tax benefit	133	251
Non-controlling interest	$ (11)	$ (7)

Note 10 - Business Segment In_5

Note 10 - Business Segment Information - Revenue by Business Segment Sector (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues	$ 31,916	$ 30,373
UNITED STATES
Revenues	$ 16,645	$ 15,692
Revenue, percentage	52%	52%
Non-US [Member]
Revenues	$ 15,271	$ 14,681
Revenue, percentage	48%	48%
Commercial [Member]
Revenues	$ 22,219	$ 22,594
Revenue, percentage	70%	74%
Government & Defense [Member]
Revenues	$ 9,697	$ 7,779
Revenue, percentage	30%	26%
Battery & Energy Products Segment [Member]
Revenues	$ 28,470	$ 29,150
Battery & Energy Products Segment [Member] | UNITED STATES
Revenues	13,768	14,540
Battery & Energy Products Segment [Member] | Non-US [Member]
Revenues	14,702	14,610
Battery & Energy Products Segment [Member] | Commercial [Member]
Revenues	22,219	22,594
Battery & Energy Products Segment [Member] | Government & Defense [Member]
Revenues	6,251	6,556
Communications Systems Segment [Member]
Revenues	3,446	1,223
Communications Systems Segment [Member] | UNITED STATES
Revenues	2,877	1,152
Communications Systems Segment [Member] | Non-US [Member]
Revenues	569	71
Communications Systems Segment [Member] | Commercial [Member]
Revenues	0	0
Communications Systems Segment [Member] | Government & Defense [Member]
Revenues	$ 3,446	$ 1,223