Battery Tech Posts First Profitable Gross Margin
American Battery Technology reported $7.8 million in revenue, a 1,714% jump from the prior year.
American Battery Technology Co. (ABAT) turned its first quarterly gross profit as revenue surged more than seventeenfold, marking a sharp turnaround for the lithium-ion recycler and resource developer. The company posted $7.8 million in sales for the quarter ended June 8, up 61% from the prior quarter and 1,714% from the same period a year earlier.
The results capped a year of rapid scaling, with gross margin swinging to a positive $0.7 million from a $2.7 million loss in the prior-year quarter. Adjusted gross margin, a non-GAAP measure, reached $2.0 million, reflecting revenue growth that outpaced a modest 11% sequential rise in cost of goods sold. Cash costs also climbed, but the company said revenue plus interest income of $8.1 million exceeded cash COGS for the first time, a milestone it had not previously achieved.
Revenue growth was driven by higher volumes from the company’s battery-recycling operations, which now include a second facility under development in the Southeast U.S.. The Tonopah Flats Lithium Project in Nevada, a key long-term asset, remained unchanged in its pre-feasibility study metrics, with an after-tax net present value of $2.57 billion and a production cost of $4,307 per tonne of lithium hydroxide monohydrate. Lithium resources at the site were last updated in May, rising 11% to 21.3 million tonnes.
Cash on hand rose to $37.7 million, down from $47.9 million in the prior quarter but up sharply from $7.5 million a year earlier, as warrant exercises and operational cash flow bolstered the balance sheet. The company also disclosed the reinstatement of a $115 million Department of Energy grant for its commercial-scale lithium refinery, which had been terminated in October 2025.
Debt was reported at zero, a change from $7.7 million in prior quarters, though the company did not provide further details on the reduction. No updates were given on the status of the second recycling facility or the completion of environmental baseline studies for Tonopah Flats, which were last disclosed in October 2025.
The company did not provide financial guidance for the coming quarter.