American Battery Technology Company (NASDAQ: ABAT), based in Reno, Nevada, reported fiscal year 2026 revenue of $21.7 million on September 14, 2026, up 407% from $4.3 million a year earlier, for the fiscal year ended June 30, 2026.
Adjusted gross profit, a non-GAAP measure, turned positive at $1.7 million, the company said, compared with an adjusted gross loss of $6.2 million in fiscal year 2025.
The results follow continued U.S. government engagement with ABTC's projects, including two Department of Energy grants and a federal Priority Project permitting designation for its lithium project, the company said.
#Recycling Facility Ramp-Up Drives Record Annual Revenue
The company attributed the revenue increase to higher throughput at its first commercial-scale lithium-ion battery recycling facility, along with increased production of recycled byproducts and improved product pricing.
ABTC said it achieved record annual recycling revenue during the year, citing growing commercial demand for recycled critical minerals recovered from electric vehicle, consumer electronics and grid-scale battery storage packs.
The company was selected to recycle batteries from what it described as the largest lithium-ion battery cleanup project in U.S. history, an opportunity it estimated at $30 million.
ABTC also launched a partnership with The Battery Network, formerly known as Call2Recycle, to expand lithium-ion battery collection and recycling infrastructure across the United States.
The company said it advanced development of a second commercial-scale recycling facility designed to process approximately 100,000 tonnes of battery materials annually.
ABTC said it made continued progress under a competitively awarded $150 million U.S. Department of Energy grant supporting construction of that second facility.
"Fiscal 2026 was a defining year for American Battery Technology Company as we delivered the strongest financial results in our company's history while continuing to expand America's domestic critical minerals infrastructure," Ryan Melsert, CEO, American Battery Technology Company, said in the earnings release. "These achievements demonstrate our continued success in increasing production volumes, improving operating economics, and scaling a critical domestic source of battery materials."
#American Battery Technology Turns Adjusted Gross Profit Positive
Cost of goods sold rose 67% to $24.8 million from $14.9 million. The company said the increase was substantially below its 407% revenue growth, reflecting facility-wide operational efficiencies implemented during the year.
On a GAAP basis, gross margin remained negative at a loss of $3.1 million, narrower than the $10.6 million gross loss reported in fiscal year 2025.
The company's non-GAAP adjustment removed $3.7 million of depreciation expense and $1.1 million of stock-based compensation from cost of goods sold, producing the $1.7 million adjusted gross profit.
Cash and cash equivalents increased to $49.5 million as of June 30, 2026, from $7.5 million a year earlier, and total assets rose to $132.8 million from $84.5 million.
ABTC ended the fiscal year with no outstanding debt, compared with $7.7 million in notes payable at the end of fiscal year 2025.
Net loss attributable to common stockholders widened to $73.4 million from $46.8 million, driven in part by higher general and administrative and research and development spending. Net loss per share was unchanged at $0.58, as a higher weighted average share count offset the larger dollar loss.
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#Tonopah Flats Lithium Project Advances Toward Production
ABTC published a pre-feasibility study for its Tonopah Flats Lithium Project, which it described as one of the largest identified lithium resources in the United States, detailing approximately 21.3 million tonnes of lithium hydroxide monohydrate resource.
Of that resource, the company classified 2.7 million tonnes as proven and probable reserves, according to the study.
ABTC said it secured reinstatement of a $57.7 million U.S. Department of Energy cooperative agreement supporting construction of the first phase of its commercial-scale lithium hydroxide refinery.
The company completed National Environmental Policy Act baseline studies for the project and received certification from the U.S. Bureau of Land Management that its mine and refinery Plan of Operations has been accepted.
ABTC was also selected by the National Energy Dominance Council and the FAST-41 Permitting Council for designation as a Priority Project for streamlined federal permitting.
The company said its forward-looking statements involve risks and uncertainties, including its ability to continue as a going concern, the outcome of permitting and regulatory approvals, and its ability to obtain financing on acceptable terms, according to the release.
Melsert said the company is executing an integrated strategy combining its growing first recycling facility, development of a second commercial recycling facility, and continued advancement of the Tonopah Flats Lithium Project. That outlook remains subject to permitting timelines, financing availability and fluctuating mineral prices, risks the company outlined in its release.