Reno, Nev., Feb. 06, 2026 (GLOBE NEWSWIRE) — American Battery Technology Company (ABTC) (NASDAQ:ABAT), an integrated battery critical minerals company that is commercializing its internally-developed technologies for both primary critical minerals manufacturing and secondary critical mineral recycling, released its financial results for the second quarter of its fiscal year (FY) 2026, which ended on December 31, 2025.
The company reported that manufacturing operations at its facilities expanded significantly, and that it generated more revenue in this quarter than in the previous four quarters combined. The company also reported that for the first time, its combined revenue from operations and income from interest were greater than its cash cost of goods sold (a non-GAAP measure1), achieving a key cash flow milestone as it continues to ramp operations at its facilities and implement operational efficiencies.
Financial Highlights, Q2 Fiscal Year 2026:
- $5.1 million: Combined revenue and interest income for FYQ2
- $4.8M revenue from operations for the quarter
- $0.3M income from interest for the quarter
- $4.9 million: Cash cost of goods sold (cash-COGS1) for FYQ2
- Total $6.4M cost of goods sold (COGS), which includes non-cash costs of $1.1M depreciation expense and $0.4M of stock-based compensation
- $48.7 million cash: Company cash balance as of end of quarter
- Significant exercises of warrants by existing investors during quarter
- Includes $47.9M in unrestricted and $0.8M in restricted cash
- $0.0 million debt: Company currently holds zero debt
“We are extremely proud that as we have successfully ramped throughput and implemented operational efficiencies at our critical mineral facilities, that we have now for the first time completed a quarter where our revenue from operations and interest income are greater than the cash cost of goods sold1,” said American Battery Technology Company CEO Ryan Melsert. “We have also engaged with the investment community to increase our cash balance to one of its highest levels in years to facilitate the further expansion of our current facilities and the groundbreaking of new ones.”
A reconciliation of COGS (GAAP) to cash-COGS (non-GAAP), for the three months ended December 31, 2025
| Description | Amount ($M) |
| Cost of Goods Sold (GAAP) | 6.4 |
| Less: Depreciation Expense | (1.1) |
| Less: Stock-Based Compensation | (0.4) |
| Cash Cost of Goods Sold (Non-GAAP) | 4.9 |
| Description | Amount ($M) |
| Revenue | 4.8 |
| Cash Cost of Goods Sold (Non-GAAP) | 4.9 |
| Adjusted Gross Margin | (0.1) |
Battery Recycling Highlights: Driving Revenue Growth and Operational Efficiencies
- The company’s recycling operations achieved significant revenue growth this quarter, driven by increased processing volumes from high-value feed materials including batteries from Battery Energy Storage Systems (BESS), end-of-life electric vehicles, and consumer electronics
- The simultaneous streamlining of operational efficiencies allowed for significant improvement in gross margin and the improvement of cash flow
- Positioned as one of the few recyclers in the Western U.S capable of handling CERCLA-classified waste, ABTC’s Nevada lithium-ion battery recycling facility, permitted by the EPA in the spring of 2025 under CERCLA, is now a key driver of revenue growth, recycling high-value critical minerals and materials including BESS end-of-life and damaged batteries
- ABTC has accelerated the design and commercialization of its second battery recycling facility, to be constructed in the Southeast US with approximately five-fold the capacity of its first recycling facility
- The company has progressed several new supply chain agreements with strategic OEM partners to facilitate the supply and offtake of material for this facility
Primary Lithium from Claystone Manufacturing Highlights: Securing a Domestic Supply Chain
- ABTC’s Tonopah Flats Lithium Project (TFLP) continues to secure its position as a cornerstone of the domestic lithium supply chain critical to securing and sourcing new critical mineral resources for the U.S., driving long-term revenue potential for the company
- Designated as a Fast-41Transparency Priority Project and subsequently upgraded to a full Covered Project in accordance with President Trump’s March 20th Executive Order “Immediate Measures to Increase American Mineral Production, the TFLP benefits from streamlined federal permitting efforts, accelerating its path to commercialization of a new U.S. lithium resource and domestic production of critical mineral lithium hydroxide (LiOH)
- The company achieved a critical milestone by completing and submitting all baseline studies for the National Environmental Policy Act (NEPA) review process, a two-year effort involving …