American Battery Technology Company (ABAT) Q3 2026 earnings summary

Executive summary

• Achieved record quarterly revenue of $7.8 million in Q3 FY26, up 64% quarter-over-quarter, driven by ramp-up of the Nevada recycling facility and higher market prices for recycled battery materials.

• First positive gross margin of $0.7 million at the battery recycling facility, with adjusted gross margin (non-GAAP) at $2.0 million.

• Maintains a strong balance sheet with $38.5 million in cash and no debt at quarter-end, supporting ongoing expansion and development.

• Awarded significant government grants and tax credits, including $19.5M and $40.5M tax credits and a $144M DOE grant for new recycling facilities.

• Tonopah Flats Lithium Project advanced as a priority project, with a published Pre-Feasibility Study and regulatory approvals.

Financial highlights

• Q3 2026 revenue was $7.8M, up 64% quarter-over-quarter and from $1.0M in Q3 2025; nine-month revenue reached $13.5M.

• Gross margin reached $0.7 million, with adjusted gross margin (non-GAAP) at $2.0 million.

• Operating expenses for Q3 2026 were $35.1M, mainly due to $24.5M in executive performance-based stock compensation.

• Net loss for Q3 2026 was $33.8M; nine-month net loss was $53.4M.

• Cash and cash equivalents as of March 31, 2026, were $38.5M, with no debt outstanding.

Outlook and guidance

• Management expects operating losses to lessen in the near term due to revenue growth and ongoing cost efficiencies.

• Scaling of the first recycling facility and construction of a second, larger facility in the Southeast U.S. are underway.

• Continued development of the Tonopah Flats Lithium Project, with focus on moving to commercial production and a Definitive Feasibility Study in progress.

• Cash and anticipated revenue are expected to fund operations for at least the next 12 months.

• Continued reliance on equity and debt financing is anticipated for future growth and capital needs.