Ultralife Corp (Ultralife) is primarily engaged in the design and manufacture of power and communications systems. These include rechargeable and non-rechargeable batteries, charging systems, communications and electronics systems and accessories, and custom engineered systems. The company serves a wide range of industries, including the military, industrial, medical, and automotive sectors among others. Ultralife Corp classifies its operations into two reportable segments: Battery & Energy Products and Communications Systems.

Ultralife Corp is focusing on enhancing the technological capabilities of its products and designing new products for customer applications. The company is investing in the development and testing of new battery and power solutions across various facilities, including those in Newark, New York; Missouri City, Texas; Raynham, Massachusetts; Canada; and Newcastle-under-Lyme, UK. Additionally, Ultralife Corp is working on the Thionyl Chloride battery project in China and new product initiatives for its Communications Systems business. These initiatives are expected to drive the company's growth. It conducts its research and development activities in several locations: Newark, New York; Virginia Beach, Virginia; Tallahassee, Florida; Missouri City, Texas; Raynham, Massachusetts; Newcastle-under-Lyme, United Kingdom; and Shenzhen, China. These units are responsible for improving the technological capabilities of the company's products and designing new products for customer applications. In 2023 R&D expenses stood 4.7% of revenue, and in 2024 expenses stood 5% of revenue, which increased 10% YoY.