American Battery Technology Company (ABAT) Q3 2026 earnings summary

Executive summary

• Achieved record quarterly revenue of $7.8 million in Q3 FY26, up 64% sequentially, 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 and adjusted gross margin (non-GAAP) of $2.0 million, marking a turning point in operational performance.

• Maintains a strong balance sheet with $38.5 million in cash and no debt as of March 31, 2026.

• Significant operational scaling and cost optimization at the recycling facility, positioning as a leading U.S. critical mineral recycler.

• Advanced development of the Tonopah Flats Lithium Project, including completion of all baseline studies for NEPA review and regulatory approvals.

Financial highlights

• Q3 2026 revenue was $7.8 million, up from $1.0 million in Q3 2025; nine-month revenue reached $13.5 million.

• Cost of goods sold increased by only 11% sequentially to $7.1 million; cash cost of goods sold (non-GAAP) was $5.8 million.

• Q3 2026 gross profit was $0.7 million; adjusted gross profit (non-GAAP) was $2.0 million.

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

• Net loss for Q3 2026 was $33.8 million; cash and cash equivalents as of March 31, 2026, were $38.5 million.

Outlook and guidance

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

• Plans to scale the first recycling facility, construct a second larger facility in the Southeast U.S., and advance the lithium mine and refinery.

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

• Definitive feasibility study in progress for the Tonopah Flats Lithium Project.