ABAT
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Earnings documents stored for ABAT.
TranscriptFY2026 Q32026-05-21FY2026 Q3 earnings call transcript
Earnings source - 17 paragraphs
FY2026 Q3 earnings call transcript
On today's call, our CEO and CTO, Ryan Melsert, 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, who is joined by our CFO, Alex Flores.
Great. Thank you, Tiffiany, and thank you, everyone, for joining today. As a reminder, we are a critical mineral manufacturing business, and we are working to implement a domestic closed-loop supply chain. In order to do this, we have three primary mechanisms. We have designed and are operating a lithium-ion battery recycling facility. This facility takes in waste from different steps of the manufacturing process, as well as end-of-life batteries. We process those materials and make critical minerals that we then sell back into the market to our partners. Closing the loop is extremely important for gaining access to these critical minerals.
However, in addition to closing the loop, we also need to fill that loop the first time; that's why we have also acquired critical mineral deposits within the U.S. and have designed our own processes for how to access these critical minerals and how to manufacture them back into battery-grade products. With these two lines of business, we're both closing the loop and filling that loop the first time with domestic, low-cost, low-impact critical minerals. When we look at operations from our past quarter, we have been operating our first battery recycling facility near Reno, Nevada. While operating this quarter, we did have record-breaking revenue. We were able to generate about $7.8 million, a 64% increase from our previous quarter.
This was achieved largely through increased capacity factor at our first facility as we've continued to ramp operations and scale production. While our revenue grew substantially, our cost of goods sold to operate this facility grew at a much lower rate, so only about 11% increase in cost of goods sold compared to our previous quarter. When removing non-cash expenses such as depreciation and stock-based compensation, this drops down to about $5.8 million of actual cash costs. This allows us to have a positive gross margin, the first positive gross margin that this company has had, and this is an achievement that many startups never get to. We are very excited and proud at ABTC that we have achieved these positive gross margin operations at our first battery recycling facility, and it encourages us as we move forward with future facilities.
Again, we're not including cash expenses. This adjusted gross margin grows to $2 million for the quarter. We've also maintained a healthy cash balance, about $38.5 million as of the end of the quarter. Also, we as a company still have no debt whatsoever. Leaves us with a very strong balance sheet as we move forward, continuing to scale our first facility and also moving forward with the construction of additional facilities. In addition to our three-month performance, if we step back and look at our fiscal year to date, nine months into this year, we've generated about thirteen and a half million dollars in revenue so far this fiscal year. Again, our cost of goods sold is about $17.9 million. When looking specifically at our cash cost of goods sold, $14 million.
As we look at the nine months of operations to date, again, we are getting very close to adjusted gross margin-positive operations. We have three more months in our fiscal year; we are looking forward to continue to ramp up our facility and to show even stronger performance as we wrap up our fiscal year in a few months. Within the battery recycling business itself, the growth in revenue and operations really was about increase in our operational effectiveness as we continue to scale these operations.
We work very closely, not just with automotive companies to recycle electric vehicle batteries, but also with large grid operators. A significant portion of our feed over the past few months has come from these large energy storage systems that are largely used to support data centers and artificial intelligence development.
While our revenue grew again by about 64%, we only grew the cash cost of operations by about 11% as we continue to implement our cost-down optimizations to really be able to provide a much healthier gross margin in this past quarter. We continue to work with many government agencies and handle both universal waste and CERCLA classified material, which does end up being a significant portion of our feed as we work with all different types of battery material throughout the country. Because of the operational effectiveness of this first facility and as we've continued to increase the capacity factor, we are moving forward with the construction of a second critical mineral recycling facility.
Over the past few months, the team has spent significant time meeting with economic development agencies, with politicians at the state level, and we're excited to shortly announce the details of our next recycling facility to be located in the Southeast U.S. We continue to work with a lot of our partners as well. A lot of the decision of where we actually specifically put the second facility is in consultation with our partners throughout the supply chain so that we continue to enhance operations as we scale the second facility.
On our primary lithium business, we are continuing to develop our Tonopah Flats Lithium Project, which is one of the largest identified lithium deposits in the U.S. We published our pre-feasibility study last fall and are now moving forward with our definitive feasibility study.
We're excited to have been chosen by the National Energy Dominance Council and the FAST-41 Permitting Council as a covered project. Essentially, we've been selected for streamlined federal permitting as we move this critical mineral lithium project forward. This deposit is located entirely on land managed by the Bureau of Land Management within the Department of the Interior. Working closely with the federal government and having these fast-tracked streamlined operations has been extremely meaningful over the past year.
Last fall, we announced that we did complete all of our environmental studies that were submitted to the BLM and have been reviewed by the BLM itself. This is something we started back in the fall of 2022. Almost four years of efforts were culminated by completing each of those baseline studies and environmental analyses.
The DFS is really the final phase of the engineering and financial analysis that we need to communicate to our offtake partners, to our investors, and to all stakeholders. As we complete our PFS last fall, we are working towards the completion of this definitive feasibility study. Some of the stats from the PFS are on the right, which really show how we plan to scale and operate this 30,000-ton-per-year facility and the financial attractiveness of moving this project forward. For the three months ending in March, our financials presented here against that same quarter a year ago. Substantial growth and revenue from this quarter, about $7.8 million worth. With our cash balance, we also are generating income from interest on that cash balance itself.
While the revenue grew dramatically, we see only moderate increases in the cost of goods sold as we scale these operations. We continue to work with several agencies within the U.S. government who are funding specific parts of both our development and construction of projects. As we look at how we used cash over this quarter, we had a significant drop in cash really needed for operating activities compared to a year ago. Within this quarter, we didn't raise any funds through issuances through our at-the-market instrument or from exercising any outstanding warrants or options. We ended the quarter with about $38.5 million in cash.
We look over the nine-month period for fiscal year-to-date, again, a very large increase in revenue and only a moderate increase in cost of goods sold as we continue to grow the product we make much more quickly than our operating expenses themselves. We continue to work with the federal government over the past nine months. Again, we look at how cash has been used. An increase in cash used to purchase property and capital equipment. Even with a much higher throughput in our recycling facility, we actually reduced operating costs from a cash basis in the past nine months versus the nine months of last fiscal year. Last fall, we did raise substantial funds and again ended this quarter with about $30.5 million in cash.
Separate from our financials, at ABTC, we do think it's important that really all employees have company shares as part of their compensation agreements. This is throughout the entire structure of the company itself. When these shares are awarded, they're generally issued over many years and spread out over time, and many of them are conditional as well, meaning they're only awarded if certain individual or company milestones are achieved. When we work, preparing our financial statements, a decision is made about whether a future milestone is likely to be achieved or not, and even before any shares are issued, then this starts appearing as an operating expense on our financial statements. A lot of these expenses can be inconsistent as they show in some quarters, really as it becomes more likely that a milestone is achieved.
The chart there really shows that over the past few years, really, the amount of shares actually issued to employees is relatively consistent. Just over 1 million shares per quarter, and again, this goes all the way throughout the chain of the company. We do think it's important that all employees really do have ownership. It does align incentives, and it does allow us to grow together with the employees and the company itself. That's the walkthrough of our financials from our fiscal Q3 for the fiscal 2026 year. Again, thank everyone for joining this call, and we hope you're as excited about our path forward as we are.
Investor releaseQuarter not tagged2026-05-20American Battery Technology Co (ABAT) Q3 2026 Earnings Call Highlights: Record Revenue and ...
GuruFocus.com
American Battery Technology Co (ABAT) Q3 2026 Earnings Call Highlights: Record Revenue and ...
This article first appeared on GuruFocus. Release Date: May 11, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. American Battery Technology Co (NASDAQ:ABAT) achieved record-breaking revenue of $7.8 million in the past quarter, marking a 64% increase from the previous quarter. The company reported its first positive gross margin, a significant milestone for a startup, with adjusted gross margin reaching $2 million for the quarter. ABAT maintains a strong financial position with a healthy cash balance of $38.5 million and no debt, providing a solid foundation for future growth. The company is expanding its operations by constructing a second critical mineral recycling facility in the southeast U.S., indicating growth and increased capacity. ABAT's Tonopuff Flats lithium project is progressing with streamlined federal permitting, enhancing the project's development timeline and potential. Despite revenue growth, the cost of goods sold remains high at $17.9 million for the fiscal year to date, impacting overall profitability. The company has not yet achieved adjusted gross margin positive operations for the full fiscal year, indicating ongoing financial challenges. ABAT's reliance on government agencies for funding specific projects may pose risks if such support diminishes or is delayed. The issuance of company shares as part of employee compensation could lead to potential dilution of existing shareholders' equity. Operational costs, although reduced on a cash basis, remain a concern as the company scales its recycling facility and other projects. Warning! GuruFocus has detected 2 Warning Signs with ABAT. Is ABAT fairly valued? Test your thesis with our free DCF calculator. Q: Can you provide more details on the record-breaking revenue achieved this quarter? A: Ryan Melsert, CEO and CTO, explained that the company generated approximately $7.8 million in revenue, marking a 64% increase from the previous quarter. This was largely due to increased capacity at their first battery recycling facility near Reno, Nevada, as operations continued to ramp up and production scaled. Q: How did the cost of goods sold compare to the revenue growth? A: Ryan Melsert noted that while revenue grew substantially, the cost of goods sold increased by only about 11% compared to the previous quarter. This resulted in a positiv...
Investor releaseQuarter not tagged2026-05-15American Battery (ABAT) Reports Record Fiscal Q3 Revenue
Insider Monkey
American Battery (ABAT) Reports Record Fiscal Q3 Revenue
American Battery Technology Company (NASDAQ:ABAT) is one of the 10 Best Electric Vehicle Supply Chain Stocks to Invest In. On May 11, 2026, American Battery Technology Company (NASDAQ:ABAT) reported Q3 revenue of $7.8M. During the quarter, the company said it significantly ramped and streamlined operations at its Nevada critical mineral recycling facility, resulting in record revenue that increased 64% quarter over quarter, while cost of goods sold rose only 11% over the same period. The company also achieved its first positive gross margin. Copyright: urfingus / 123RF Stock Photo American Battery Technology Company (NASDAQ:ABAT) said the increased throughput at its recycling facility enabled it to benefit from favorable market conditions and strengthen its position as a major critical mineral recycler in the United States. CEO Ryan Melsert described the achievement of positive gross margin as a significant milestone that supports self-sustaining operations at the company’s recycling facility. Melsert added that the gross profit generated from the facility will help fund the continued expansion of its first recycling operation, development of a second recycling facility, and the construction and ramp-up of its lithium mine and refinery as part of efforts to build a closed-loop domestic critical mineral supply chain in the United States. On April 28, 2026, Maxim initiated coverage of American Battery Technology Company (NASDAQ:ABAT) with a Buy rating and a $6 price target on the shares. American Battery Technology Company (NASDAQ:ABAT) develops battery materials technologies and explores for battery metals, including lithium, nickel, cobalt, and manganese, in the United States. While we acknowledge the potential of ABAT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy. Disclosure: None. Follow Insider Monkey on Google News.
Investor releaseQuarter not tagged2026-05-11American Battery Technology Company Announces Record Breaking Revenue and First-Ever Positive Gross Margin in Third Quarter Fiscal 2026 Financial Results
GlobeNewswire
American Battery Technology Company Announces Record Breaking Revenue and First-Ever Positive Gross Margin in Third Quarter Fiscal 2026 Financial Results
Revenue growth of 64% quarter-over-quarter through ramp-up of critical mineral recycling facility, and significant advancements in development of critical mineral mine and refinery AMERICAN BATTERY TECHNOLOGY COMPANY FY26 Q3 Earnings AMERICAN BATTERY TECHNOLOGY COMPANY FY26 Q3 Earnings Reno, Nev., May 11, 2026 (GLOBE NEWSWIRE) -- American Battery Technology Company (NASDAQ: ABAT), an integrated domestic critical mineral company that is commercializing its internally-developed technologies for both primary critical mineral manufacturing and secondary critical mineral recycling, released the financial results for the third quarter of fiscal year 2026 (FY26) ended on March 31, 2026. Over the quarter, American Battery Technology Company (ABTC) significantly ramped and streamlined operations at its Nevada critical mineral recycling facility and achieved record breaking revenue with a 64% increase quarter-over-quarter, while cost of goods sold increased only 11% over the same period, and correspondingly the Company achieved its first-ever positive gross margin. This substantial growth in the throughput of its recycling facility has allowed ABTC to capitalize on strong market conditions and solidify itself as one of the dominant critical mineral recyclers in the United States. Financial Highlights, Third Quarter of FY26: $7.8 million in Revenue, a 64% increase from the previous quarter And an additional $0.3 million income from interest for the quarter $7.1 million in Cost of Goods Sold, an 11% increase from the previous quarter $5.8 million cash cost of goods sold (non-GAAP1), with exclusion of non-cash expenses of depreciation and stock-based compensation $0.7 million in Gross Margin, ABTC’s first positive gross margin operations $2.0 million in Adjusted Gross Margin (non-GAAP1), with exclusion of non-cash expenses of depreciation and stock-based compensation $38.5 million cash, balance as of end of quarter Includes $37.7 million in unrestricted and $0.8 million in restricted cash $0.0 million debt, Company currently holds zero debt “Demonstrating positive gross margin from operations is a major milestone that many growth companies never achieve and allows us to enable self-sustaining operations of our critical mineral recycling facility,” stated American Battery Technology Company CEO Ryan Melsert. “The gross profit generated by this facility provides additional...
Investor releaseQuarter not tagged2026-02-13American Battery Technology Co (ABAT) Q2 2026 Earnings Call Highlights: Record Revenues and ...
GuruFocus.com
American Battery Technology Co (ABAT) Q2 2026 Earnings Call Highlights: Record Revenues and ...
This article first appeared on GuruFocus. Revenue: $4.8 million from product sales for the quarter ending December. Interest Income: $300,000 for the quarter. Total Revenue and Interest Income: $5.1 million for the quarter. Cash Expenses: $4.9 million for operating the plant during the quarter. Total Expenses (including non-cash costs): $6.4 million for the quarter. Cash Balance: $48.7 million as of the end of December. Debt: Zero debt as of the end of the quarter. Production Costs: Just over $4,300 per ton of lithium hydroxide. Net Present Value (NPV) after tax: Approximately 8% for the lithium project. Lithium Resource Estimate: 21.3 million tons of lithium hydroxide accessible. Warning! GuruFocus has detected 3 Warning Signs with ABAT. Is ABAT fairly valued? Test your thesis with our free DCF calculator. Release Date: February 05, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. American Battery Technology Co (NASDAQ:ABAT) achieved record high revenues of $4.8 million for the quarter ending December, with an additional $300,000 in interest income. The company has a strong cash position with a balance of $48.7 million and zero debt, providing a solid financial foundation for future growth. ABAT is expanding its operations with the design and construction of a second battery recycling facility in the southeast US. The company has received a rare circular certification, enhancing its ability to process materials from various sectors and strengthening its relationship with the EPA. ABAT's Tonopah Flats Lithium Project is progressing well, with a pre-feasibility study showing attractive returns and competitive production costs. Despite record revenues, the company's operating costs remain high, with $4.9 million in cash expenses and $6.4 million including non-cash costs. The company is still in the process of ramping up operations to achieve break-even at its first recycling facility. ABAT's growth is heavily reliant on government grants and partnerships, which may pose risks if these sources of funding are reduced or withdrawn. The company's expansion plans, including the new recycling facility and lithium project, require significant capital investment and carry execution risks. The lithium project is still undergoing federal permitting processes, which could face delays or complications, impacting the...
Investor releaseQuarter not tagged2026-02-09A Look At American Battery Technology (ABAT) Valuation After Q2 2026 Results And Leadership Changes
Simply Wall St.
A Look At American Battery Technology (ABAT) Valuation After Q2 2026 Results And Leadership Changes
Never miss an important update on your stock portfolio and cut through the noise. Over 7 million investors trust Simply Wall St to stay informed where it matters for FREE. American Battery Technology (ABAT) has moved into the spotlight after reporting its Q2 2026 results, detailing higher sales and a smaller net loss, along with recent senior leadership changes in its finance and mineral resources teams. See our latest analysis for American Battery Technology. Those Q2 numbers and leadership changes arrived alongside sharp share price swings, with a 17.99% 1 day share price return and a year to date share price return of 12.57%. The 1 year total shareholder return of 217.94% contrasts with a 5 year total shareholder return decline of 92.77%, hinting at momentum rebuilding after a difficult longer stretch. If this battery materials story has your attention, it could be a good moment to look across the sector and review 29 best rare earth metal stocks as potential comparison points. With ABAT shares at US$4.17 and an average analyst price target of US$6.00, the stock sits at a sizeable discount. Are traders behind the curve here, or already baking in a lot of future growth? On a P/B basis, American Battery Technology trades at 4.6x, which sits well above the broader US Metals and Mining industry but below its selected peer group. P/B compares the share price to the company’s net assets on the balance sheet, so a higher ratio often reflects the market assigning extra value to future projects or intangible strengths rather than just current book value. Here, ABAT’s 4.6x P/B is described as expensive versus the US Metals and Mining industry average of 2.6x, suggesting the market is pricing the company at a premium to the wider sector. At the same time, it is labelled good value relative to a peer average P/B of 10.1x, which implies investors are paying less per dollar of book value than for some closer high growth or battery materials focused comparables. That wide gap, expensive versus the industry but cheaper than specific peers, underlines how sensitive ABAT’s valuation is to which comparison set you think matters most and how much weight you place on its early stage earnings profile and balance sheet strength. See what the numbers say about this price — find out in our valuation breakdown. Result: Price-to-Book of 4.6x (ABOUT RIGHT) However, you still need to...
Investor releaseQuarter not tagged2026-02-07American Battery Technology Company Announces Record Breaking Revenue as it Ramps Manufacturing of Critical Minerals and Publishes its Second Quarter Fiscal 2026 Financial Results
GlobeNewswire
American Battery Technology Company Announces Record Breaking Revenue as it Ramps Manufacturing of Critical Minerals and Publishes its Second Quarter Fiscal 2026 Financial Results
Quarterly revenue increases over 1,300% YOY while total operating expenses decrease 24% YOY, as company continues to ramp and streamline operational efficiencies AMERICAN BATTERY TECHNOLOGY COMPANY AMERICAN BATTERY TECHNOLOGY COMPANY 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 COG...
Investor releaseQuarter not tagged2026-02-06American Battery Technology Q2 Earnings Call Highlights
MarketBeat
American Battery Technology Q2 Earnings Call Highlights
American Battery's first commercial recycling plant hit a record quarter with about $4.8 million in product revenue (~$5.1 million total) while operating cash costs (~$4.9 million) put the facility close to cash break-even as output scales. The company finished the quarter with roughly $48.7 million in cash (also cited as ~$47.9M), has paid off its debt to reach zero debt, and appointed Alex Flores as CFO to support growth and financing. On primary lithium, the Tonopah Flats PFS for a 30,000 tpy plant showed attractive returns (after-tax NPV ~8%, modeled cost just over $4,300/ton), the project is a FAST-41 priority with NEPA permitting underway, and a definitive feasibility study is expected shortly. Interested in American Battery Technology Company? Here are five stocks we like better. 3 Stocks to Benefit From China’s Rare Earth Export Ban on U.S. American Battery Technology (NASDAQ:ABAT) used its fiscal second-quarter 2026 earnings call to highlight record revenue from its first commercial-scale lithium-ion battery recycling facility, continued work on a second recycling plant in the Southeast U.S., and ongoing permitting and engineering efforts for its Tonopah Flats lithium hydroxide project. CEO and CTO Ryan Melsert reiterated that the company is focused on building a “closed-loop” battery materials infrastructure with two core business units: lithium-ion battery recycling and primary lithium production from claystone. Melsert said recycling can help “close the loop” by returning critical minerals from battery waste streams back to domestic customers, but because the number of batteries in the field continues to grow, additional supply is needed to “fill the loop the first time.” ABAT’s claystone-to-lithium-hydroxide work is intended to address that incremental demand using a U.S.-based mineral resource and internally developed extraction and refining technologies. → AMD’s Post-Earnings Dip Looks Like the Buying Window Bulls Wanted For the quarter ended December, Melsert said ABAT generated approximately $4.8 million in product revenue and about $300,000 in interest income, totaling roughly $5.1 million for the period. He described the quarter as a record for the facility and said the company “broke all of our records” on revenue. Melsert emphasized that operating costs rose more slowly than revenue as the company scaled output at its first recycling pla...
Investor releaseQuarter not tagged2026-02-05American Battery Technology Company Hosts Second Quarter Fiscal Year 2026 Earnings Call Today
GlobeNewswire
American Battery Technology Company Hosts Second Quarter Fiscal Year 2026 Earnings Call Today
Reno, Nev., Feb. 05, 2026 (GLOBE NEWSWIRE) -- American Battery Technology Company (ABTC) (NASDAQ: ABAT), an integrated critical battery minerals company that is commercializing its internally-developed technologies for both primary battery critical minerals manufacturing and secondary critical minerals lithium-ion battery recycling, expects to release its second quarter fiscal year (FY) financial results on February 5, 2026, and the company will host an earnings call on Thursday, February 5, at 4:30 p.m. ET. Those interested in viewing the livestream can visit: American Battery Technology Company Livestream FY26 Q2. The livestream replay and any related presentation will also be made available at www.americanbatterytechnology.com/events-presentations. About American Battery Technology Company American Battery Technology Company (ABTC), headquartered in Reno, Nevada, has pioneered first-of-kind technologies to unlock domestically manufactured and recycled battery metals critically needed to help meet the significant demand from the electric vehicle, stationary storage, and consumer electronics industries. Committed to a circular supply chain for battery metals, ABTC works to continually innovate and master new battery metals technologies that power a global transition to electrification and the future of sustainable energy. Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are "forward-looking statements." Although the American Battery Technology Company's (the "Company") management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. Forward looking statements include, among other things, statements concerning: offtake agreements with customers; the Company’s future sales of products to customers, including the amounts, timing, and types of products included within those sales; potential loans, grants, and debt financing arrangements, including due diligence, the amount and type of debt, its syndication, and the schedule for closing; the scale of the battery recycling operations; the anticipated production from the integrated pilot facility; the scale, construction, and operation of...
TranscriptFY2026 Q22026-02-05FY2026 Q2 earnings call transcript
Earnings source - 4 paragraphs
FY2026 Q2 earnings call transcript
Good afternoon. I'm Tiffiany Moehring, and I'm the Director of Communications and Marketing at the American Battery Technology Company. We would like to welcome everyone to our second quarter fiscal 2026 earnings call. On behalf of the entire team at American Battery Technology Company, we would like to thank everyone for taking the time to join our call today. Following this presentation, a recording of this call, along with our press release and our quarterly SEC filings will be made available on our website. This presentation does include forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigations Act of 1995. These statements are subject to risks 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. On today's call, our CEO and CTO, Ryan Melsert, 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.
Thank you, and welcome, everyone, to this meeting. As we've discussed beforehand, we at American Battery Technology Company, have our two main business units, and we are working to implement the closed-loop infrastructure shown on the right. So first, we have our lithium-ion battery recycling technology that we have developed over the past several years. We built our first commercial scale facility about 3 years ago and are in the process of designing and constructing a second facility. We work closely with each of the partners and the other sectors of this closed-loop economy. We received waste streams back from each of them as well as end-of-life material to process in our battery recycling plant, where we then manufacture critical mineral products to sell back to our domestic customers to work to close that supply chain. Implementing this closed loop is very important. And if the amount of batteries in the field was fixed, battery recycling alone could supply just about all of the minerals needed. However, as the amount of batteries in the field is growing, in addition to closing the loop, we also need to fill the loop the first time. So that's why here at ABTC, we also have our own critical mineral resource, and we've developed our own technologies for how to extract the critical mineral lithium from the ground here in the U.S., how to extract it, how to purify it and how to make it into a final battery-grade critical mineral product. So we are happy to be joined by a new executive in the company as well. So Alex Flores, as our new Chief Financial Officer, has joined as of this coming Monday. He has over 20 years of experience, leading financial organizations in both the battery and the automotive sectors throughout North America. He's worked leading significant projects and proposals with the U.S. government, supporting different types of financing and has significant experience driving operational improvements through large organizations. So we're excited to welcome him this coming Monday as we ramp our business units to their next levels. As far as our financial summary for the previous quarter ending in December, we're excited to highlight that we have broken all of our records and achieved record high level of revenues for this facility. So we sold about $4.8 million worth of products just in the quarter ending December. And additionally had about $300,000 in our interest from income. So a substantial amount of $5.1 million we generated in that revenue and interest income for the quarter. While we substantially scaled operations at our first recycling facility through a lot of operational efficiencies, our operating costs actually increased by a much smaller factor than our revenue. So as we're operating now going forward, that $5.1 million in revenue and interest income, during the same corresponding period, we had about $4.9 million in cash expenses to operate that plant. And when including noncash costs, including depreciation and stock-based compensation, about $6.4 million. So we were getting to the point where the amount of revenue and interest income we're generating is very close to the amount of cash costs it requires to run this plant. We have additional ramp-up operations in place for this facility, additional operational efficiencies to put in place. And we're excited to be passing through the breakeven point on this plant and continuing to grow our margin as we move forward. We also are at one of our highest cash positions we've been at in years through strong market actions last fall as well as many of our existing shareholders electing to exercise their warrants. We had a cash balance of $48.7 million as of the end of quarter in December. So as we have this cash balance, we'll be using that to continue to scale operations at this first recycling plant, continue to add additional value-add processes and also work to move our two new facilities forward. Just as important, we were able to pay off any remaining debt or convertible notes in the past quarter. And as of now, we, as a company, have absolutely 0 debt. So very strong balance sheet as we move forward. Some of our largest cash positions in history, no debt, significantly increased revenue and only a minor increase in operating costs for this quarter ending December. And that ramp of revenue is, again, more revenue generated in this quarter ending December than the previous 4 combined. So this is much greater than linear growth as we work to scale this facility. Some of the highlights from the past quarter. We are receiving quite a bit of material from the automotive sector, but an increase in amount from the stationary grid Battery Energy Storage System field as well. Several large projects we have announced, we continue to receive material from each of those sectors. And again, increasing these operational efficiencies in the plant as we continue to scale operations, have reduced cost through economy of scale, but also lessons learned that we have an ever more trained workforce and keep offering the plant in more efficient manners. As mentioned, we have received our CERCLA certification. We are able to receive this type of material that is generated from different types of stationary facilities throughout the country. It's a rare certification we have. We have a strong relationship with the EPA to manage this certification and are proud to be receiving these types of materials from different types of applications throughout the country. As far as our recycling operations, we have announced that in addition to our first recycling plant near Reno, that we are moving forward with the design and construction of a second battery recycling facility in the Southeast U.S. So even just the past few months, we've had several team members at our site in the Southeast U.S., really working with local partners, a lot of our strategic partners in the area as well and moving the second recycling facility forward. In our second business unit, we are manufacturing this lithium hydroxide from our claystone material. Again, we are continuing to move this Tonopah Flats Lithium Project forward. This is one of the few lithium projects in the country that has been identified at this scale and is actually moving through the maturity steps. We built our integrated demonstration scale facility about 2 years ago, have had that running and actually demonstrating a much larger scale than is conventionally seen how we take our actual claystone from our own mine, how we move it through each of the operating steps through our extraction, our purification, our conversion, and our crystallization into a final battery-grade lithium hydroxide product. We were proud to be selected last summer and fall by the Trump administration as a priority project. So we have been assigned essentially a liaison from the FAST-41 Permitting Council, holding weekly meetings, really working to drive each of our federal permits forward to accelerate the commercialization of this critical mineral facility. So we're excited to have a lot of that status on the public dashboard on the FAST-41 website, and we continue to move through these permitting steps at an accelerated rate after becoming a priority project. We have completed all of the steps for submitting the baseline studies are now going through the NEPA process with the Department of Interior and the Department of Energy. And have been working on that process since the spring of 2023. So we're excited as we move forward and keep taking steps with the federal government. We did publish our Pre-Feasibility Study last fall, showing the technology and financial road map for bringing this mine and refinery to market. So this is for the 30,000 tonne per year facility. We modeled it with a 45-year life-of-mine, showed very attractive returns with a net present value after-tax of about 8%. And one of the most competitive portions is the production cost at just over $4,300 per ton of product. This would make it one of the most competitive commercial scale facilities in the world and is really an artifact of us designing these processes internally from the ground up with a blank page system as we work to bring one of the first and only claystone mine and refineries to commercialization. We've updated our lithium resource and reserve estimate several times. Within the PFS, we showed about 21.3 million tonnes of lithium hydroxide that is accessible from this report, included a substantial portion that has been upgraded beyond our resource into proven and probable reserves. As we've published that PFS last fall, we are now working diligently on the Definitive Feasibility Study to be published shortly. This really is the last step to having a bankable design as we engage with each of our investors for the investment in the refinery mine itself in addition to finalizing the offtake agreements for the product out of this facility. For the financials, again, in summary, we're excited to show about $4.8 million of revenue from selling our product, an additional $300,000 in interest income for the quarter. The cost of goods sold increased by a much lower factor than our revenue increased, showing our approach on the margin for this recycling facility. We continue to receive funds from each of our government grants that we have contracted that are supporting the operation and construction of these facilities. And again, on our cash balance, substantial investments were made in the fall in this quarter ending December to bring our total cash balance up to about $47.9 million. So again, that balance is being used now to expand our current facilities and to break ground on our new facilities. So again, thanks to our stakeholders, our shareholders, our partners, and we look forward to continuing to inform you as we scale up each of these operations moving forward. And I believe we may have 1 question or 2 from the audience now.
Yes. We do have one question by Jake Sekelsky, who is the Managing Director and Head of Metals and Mining Research at AGP. He has the following question for you. Can you discuss progress related to the ramp-up of the $30 million EPA cleanup agreement?
Yes. That's in reference to the Moss Landing project in Northern California. That has been going through decommissioning for many months. We have been receiving material from that facility since the end of the summer. That represents a substantial portion of the feed into our factory, but we do have several other sources from the stationary market as well as the automotive market and the consumer electronics field. So we received large amounts of material from that project. We are still on pace to receive substantially more material and are happy to be working with them as partners. I believe that's our only question for today. So again, thank you, everybody, for joining this webinar. Our actual 10-Q financials are being published now as well. And thank you, everyone, for your support.
Investor releaseQuarter not tagged2025-11-07American Battery Technology Company Announces First Quarter Fiscal 2026 Financial Results
GlobeNewswire
American Battery Technology Company Announces First Quarter Fiscal 2026 Financial Results
Substantial Quarterly Revenue Increase Year-Over-Year; Company Secures Historic Battery Recycling Contract with Potential $30 Million in Proceeds Reno, Nev., Nov. 07, 2025 (GLOBE NEWSWIRE) -- American Battery Technology Company (NASDAQ: ABAT), an integrated critical battery minerals company that is commercializing its internally-developed technologies for both primary battery critical minerals manufacturing and secondary critical minerals lithium-ion battery recycling, released its financial results for the first quarter of its fiscal year (FY) 2026, which ended on September 30, 2025. The quarter was marked by a substantial increase in cash balance, extinguishment of all outstanding debt and convertible notes, significant operational milestones, commercial facility enhancements, and major commercial wins that position American Battery Technology Company (ABTC) for continued growth. Financial Highlights, Q1 Fiscal 2026: The company increased cash and restricted cash to $30.9 million as of September 30, 2025, compared to $12.5 million as of the quarter ended June 30, 2025. Cash balance was further increased to $55.6 million as of November 5, 2025. During the quarter ended September 30, 2025, all the company’s outstanding convertible notes were converted and extinguished, and the company currently has zero long term debt. In October 2025, ABTC published the S-K 1300 Technical Report and Pre-Feasibility Study (PFS) for its Tonopah Flats Lithium Project (TFLP). The PFS indicates that this commercial scale critical mineral mine and refinery has a projected after-tax net present value (NPV) of $2.57 billion at an 8% discount rate, 21.8% IRR, and 7.5 year payback from initial investment. Additional details available in full text of the PFS. On November 6, 2025, ABTC announced that it had been awarded a contract and had already started receiving material from a grid scale battery energy storage system (BESS) near Monterey, California as part of the largest lithium-ion battery cleanup operation in U.S. Environmental Protection Agency (EPA) history. The project’s BESS has up to 100,000 damaged battery modules, and at current market prices, if ABTC were to process all of the battery materials from the site, the value of recycled products generated from these materials is estimated at approximately $30 million. ABTC implemented several weeks of facility enhancements with...
Investor releaseQuarter not tagged2025-09-24American Battery Technology Co (ABAT) Q4 2025 Earnings Call Highlights: Revenue Surge and ...
GuruFocus.com
American Battery Technology Co (ABAT) Q4 2025 Earnings Call Highlights: Revenue Surge and ...
Q: How is the company progressing with its lithium hydroxide production technology? A: Ryan Meltzer mentioned that they have completed a multi-ton per day integrated pilot facility near Reno, supported by a Department of Energy grant. This facility has successfully demonstrated the production of battery-grade lithium hydroxide, and they are now designing a commercial-scale facility with a capacity of 30,000 tons per year. Q: What impact has the inclusion in the Russell 2000 and 3000 indices had on the company? A: Ryan Meltzer noted that being listed on these indices has led to a significant increase in trading volume and institutional ownership. This has facilitated discussions with strategic investors and opened up new funding opportunities. Q: Can you provide more details on the company's involvement with government projects and grants? A: Ryan Meltzer highlighted their collaboration with the US Advanced Battery Consortium and the Department of Energy on various projects. They have successfully closed out a project demonstrating the recycling of full-scale batteries and have been selected for a transparency priority project to streamline federal permitting for their Tonipa Flats lithium project. For the complete transcript of the earnings call, please refer to the full earnings call transcript.