American Battery Technology Q4 2026 Earnings Report

American Battery Technology EPS Results

• Actual EPS: -$0.15
• Consensus EPS: -$0.05
• Beat/Miss: Missed by -$0.10
• One Year Ago EPS: N/A

American Battery Technology Revenue Results

• Actual Revenue: $8.23 million
• Expected Revenue: $8.20 million
• Beat/Miss: Beat by +$33.08 thousand
• YoY Revenue Growth: N/A

American Battery Technology Announcement Details

• Quarter: Q4 2026
• Date: 9/14/2026
• Time: Before Market Opens
• Conference Call Date: Monday, September 14, 2026
• Conference Call Time: 4:30PM ET

American Battery Technology (NASDAQ:ABAT) develops technologies and operates projects intended to support a domestic battery-materials supply chain. The company focuses on lithium-ion battery recycling, lithium extraction from unconventional resources such as claystone, and the production of battery-grade materials for use in new batteries.

Its recycling business is designed to recover lithium, nickel, cobalt, manganese and other valuable materials from end-of-life batteries and manufacturing scrap. The company is also developing a claystone lithium extraction process intended to produce lithium hydroxide and other lithium products while reducing reliance on imported raw materials.

Based in Reno, Nevada, American Battery Technology Company’s operations and development efforts are primarily focused in the United States. The company was formerly known as American Battery Metals Corporation and adopted its current name in 2021. Ryan Melsert serves as chief executive officer and has been associated with the company’s efforts to commercialize battery recycling and domestic lithium-processing technologies.

American Battery Technology Q4 2026 Earnings Call Transcript

Key Takeaways

• Positive Sentiment: Recycling revenue rose more than 400% to $21.7 million in fiscal 2026, while cost of goods sold increased about 67%, reflecting improved scale and operational efficiency.
• Positive Sentiment: The recycling business generated its first adjusted gross profit of approximately $1.7 million, compared with a $6.2 million adjusted loss the prior year; operating cash use also declined 16% despite higher throughput.
• Positive Sentiment: ABTC ended the year with about $49.5 million in cash, no long-term debt, and $133 million in total assets, providing funding capacity for planned expansion.
• Positive Sentiment: The company is advancing a second, 100,000-ton-per-year recycling facility supported by a potential $150 million DOE grant, while its Tonopah lithium project moved closer to the full NEPA permitting process after BLM accepted its plan of operations.
• Negative Sentiment: A Commerce Department directive effectively restricts exports of lithium-ion battery black mass; ABTC has requested an exception but has received no final decision and is temporarily storing black mass at its facility.

Presentation

[Tiffiany Moehring, Head of Communications and Marketing at American Battery Technology Company]

American Battery Technology Company. I would like to welcome everyone to our fiscal full year 2026 earnings call. On behalf of the entire team at American Battery Technology Company, I would like to thank everyone for taking the time to join the call today. Following this presentation, a recording of this call, along with our press release, will be available on our website. This presentation includes forward-looking statements within the meaning of the safe harbor's provision of the Private Securities Litigation Reform Act of 1995. These statements are subject to risk and uncertainties that can cause actual results to differ from those anticipated. Additional information regarding the factors that may cause actual results to differ can be found in our annual filings.

[Tiffiany Moehring, Head of Communications and Marketing at American Battery Technology Company]

On today's call, our Chief Executive Officer and Chief Technology Officer.What is a, Ryan Melsert, joined by Alex Flores, our Chief Financial Officer, will provide remarks regarding our two lines of business, which include our lithium-ion battery recycling business and our primary claystone to lithium hydroxide business. It is now my pleasure to turn the meeting over to Ryan.

[Ryan Melsert, CEO and CTO at American Battery Technology Company]

Great. Thank you, Tiffiany, and thank you everybody for joining. We here at the American Battery Technology Company are working to introduce the closed loop supply chain seen on the right here. Many of the other sectors already exist and are mature. However, within the U.S., we have very little production of the critical minerals that are needed to support this domestic closed loop. In order to do that, we have implemented three different technology sets. We have developed and are deploying our technology for the recycling of lithium-ion batteries to help to close this loop. In addition to closing the loop, we also need to fill this loop the first time. So we also have our own mineral resource development with our lithium mine, and we've developed our own internal technologies for the processing of this lithium-bearing claystone into a battery-grade lithium hydroxide product.

[Ryan Melsert, CEO and CTO at American Battery Technology Company]

Through these three units, we are working to enable this closed loop infrastructure within the United States. Over the past year, we have significantly ramped our operations at our first battery recycling facility, and we're proud to state that we have substantially increased revenue compared to the past year. An over 400% increase, up to $21.7 million over the past year. While revenue increased substantially, we had only a moderate increase in our cost of goods sold, increase in about 67% from the previous year. This really is from achieving economies of scale in our recycling facility and implementing many different operational efficiencies throughout our first plant. On a cash basis, even though we substantially increased throughput, we actually decreased cash spend and operations for this plant by about 16%.

[Ryan Melsert, CEO and CTO at American Battery Technology Company]

Because of these increases in throughput and revenue and implementations of operational efficiencies, we were able to turn an annual profit or adjusted profit for the first time. With the removal of these non-cash expenses, we have an adjusted gross profit of about $1.7 million over this past year, compared to a $6.2 million loss over the previous year. Again, this really is the manifestation of much higher capacity factor at our first recycling plant and the implementation of operational efficiencies. Because of these improvements, we have been able to increase our cash balance up to about $49.5 million as of the end of June and increase our total asset base up to about $133 million. We are also proud that over the past year, we have had our fiscal discipline and have zero long-term outstanding debt for the company.

[Ryan Melsert, CEO and CTO at American Battery Technology Company]

All these pieces together show that we have the strongest financial results we have had in any year as an operating company and are in a strong position to keep growing as we move forward. We are excited to work with many partners. One of our closest partners is the U.S. Department of Energy. We were fortunate enough to have a visit and tour by some of the DOE leadership just a few weeks ago. We have multiple projects, both on the battery recycling and on the claystone to lithium refining side, that are supported by the Department of Energy. The leadership was able to come and see our operating battery recycling plant and also see our integrated demonstration facility for how we convert our Nevada-based claystone material into our battery-grade lithium hydroxide.

[Ryan Melsert, CEO and CTO at American Battery Technology Company]

It was great to be able to show these individuals the progress we have made over the past few years as we have moved from R&D level efforts up to bench scale systems to pilot plants and now operating commercial scale facilities. Within the recycling plant itself, we continue to scale this first facility with a design rate of about 20,000 tons per year. We have moved into having our highest annual revenue, really by that increased throughput, additional manufacturing of byproducts, and improved pricing for the products that we sell. The feed for our recycling plant comes in a wide variety of sources. Quite a bit of it now comes from grid-scale battery energy storage systems that are used to support domestic data centers and artificial training models, but also a large amount from electric vehicles, from battery cell manufacturing, and from the consumer electronics market.

[Ryan Melsert, CEO and CTO at American Battery Technology Company]

We have achieved our first ever positive gross margin because of this increase in economy of scale and the implementation of operational efficiencies. Again, we were selected over the year for one of the largest lithium-ion battery cleanup projects in the country's history, working to process a lot of these grid scale batteries that have been through incidences and need to be recycled in a responsible manner. We also work closely with some partners in the collection area. The Battery Network, which was formerly Call2Recycle, is one of the nation's leading consumer battery collection companies. We did form a partnership with them, working to collect batteries throughout the country, recycle them in our facility, and really demonstrate this closed loop supply chain to our partners.

[Ryan Melsert, CEO and CTO at American Battery Technology Company]

We are also continuing to develop our second recycling plant based in the Southeast U.S. that is designed to process about 100,000 tons per year of these batteries, and are continuing to work with the U.S. Department of Energy on the $150 million grant that supports the construction and rollout of this second plant. We also are continuing with a $10 million grant we have from the U.S. Department of Energy. This is really used to commercialize our next generation recycling technologies. There are three of these technologies we have previously proven out at the laboratory and bench scale. Through this support from DOE, we're working to now build commercial scale implementations to integrate into our recycling facility.

[Ryan Melsert, CEO and CTO at American Battery Technology Company]

As we continue to expand our recycling plant, it really does have a lot of synergies with our claystone to lithium hydroxide processing facility to help scale both of these technologies to address our domestic needs. In our claystone lithium business, we've had many achievements over the past year. The highlights are really working to publish our pre-feasibility study last fall. This really demonstrated the technical and financial performance of this system. We showed we have about 21.3 million tons of lithium hydroxide that could be made just from the resources on this site, and that includes about 2.7 million tons that are further classified as proven or probable reserves. We're continuing to develop and roll out our 30,000 ton per year mine and refinery at our property just west of Tonopah, Nevada. We worked closely with U.S. Department of Energy last fall, along with hundreds of other projects.

[Ryan Melsert, CEO and CTO at American Battery Technology Company]

One of our U.S. Department of Energy grants was canceled. We did work closely with DOE and appealed that decision, and over several months of work with them, we were able to reverse that termination and have our grant fully reinstated. As of now, we are working under the same project with the same funding and the same milestones to continue to have the DOE support the construction of that first processing train. Our full Tonopah project is on government-managed land through the U.S. Department of the Interior and Bureau of Land Management. Through BLM and through U.S. Department of Energy as a supporting agency, we are going through the NEPA process, which includes large amounts of baseline studies in additional to having our plan of operations submitted that really show how we plan on developing this property.

[Ryan Melsert, CEO and CTO at American Battery Technology Company]

We were fortunate enough last fall to have completed the baseline studies, and just a few weeks ago, to have received certification from the BLM that they have now accepted our plan of operations. This approaches the end of the pre-NEPA phase of this process and allows us to move into the full NEPA process for the remaining steps to have our permits to begin site work and construction at this property. We were excited last spring that we were selected by President Trump's National Energy Dominance Council and the FAST-41 Permitting Council to be a priority project within the country. This really was chosen for a handful of projects really looking to scale manufacturing facilities to produce critical minerals within the U.S. It really does result in streamlined federal permitting, really working to combine the efforts of the multiple agencies that are needed as we work through this process.

[Ryan Melsert, CEO and CTO at American Battery Technology Company]

We did build and operate an integrated demonstration facility that shows how this technology works. We continue to work with that plant to produce large scale batches of this battery-grade lithium hydroxide product that we've been delivering to customers for evaluation as we work through their qualification processes. The Tonopah Flats Lithium Project is one of the largest lithium resources identified in the U.S. and is something we are working to scale to really address our domestic needs. Summarizing our financial results from the past year, again, we had substantial increase in revenue, over a 400% increase compared to fiscal year 2025. While our cost of goods sold only increased by about 67%. Showing substantial impact of economies of scale, plus the impacts of implementing operational efficiencies. Our cost of goods sold on a cash basis was further improved.

[Ryan Melsert, CEO and CTO at American Battery Technology Company]

While last year we had many review periods working with the federal government, we have even more government contracts in place now and look forward to continuing to work with them as we draw down from those over the next few years. On a cash basis, we continue to invest in our first recycling plant, increasing the amount of equipment that we have as we implement more automated processes. Our operational activities actually used less cash over the past year. Even though we had more than fourfold the throughput, we decreased the cash spend on our operating activities as we again implemented those operational efficiencies.

[Ryan Melsert, CEO and CTO at American Battery Technology Company]

We were able to bring in large amounts of funds through financing activities, and the result is a substantially increased cash balance of about $49.5 million that has allowed us to collect interest over the past year and be ready to expand our facilities as needed. At the same time, we have extinguished all of our long-term debt that was outstanding as of fiscal 2025, and as of the end of fiscal 2026, we have no outstanding long-term debt. There are several updates that have happened in the industry over the past few months. One of them is the U.S. Department of Commerce issued a directive that effectively bans the export of black mass unless there is an exception or adjustment obtained from U.S. Department of Commerce. We've been working closely with Commerce over the past few weeks. We have submitted an exception request.

[Ryan Melsert, CEO and CTO at American Battery Technology Company]

They have replied with several follow-up questions and requests for additional information. However, at this time, there's no formal response as to the status of our exception request. As of now, we continue to sell the byproducts out of our recycling facility, and for the short term, are storing our black mass product at our facility until there is a conclusion with this directive. But working with U.S. Department of Commerce very closely and with support from U.S. Department of Energy and many other federal agencies as this process is being reviewed. With that, we thank everyone for joining this review of our fiscal year 2026 financials, and look forward to having our formal annual shareholder meeting in November to talk through more details of the past year and our steps ahead for the coming year. Thank you everybody for joining today.

Participants

Executives

• Tiffiany Moehring, Head of Communications and Marketing
• Ryan Melsert, CEO and CTO