Revenue scaled to $7.8 million in 2026Q3, yet the firm continues to struggle with profitability as SG&A expenses of $29.8 million significantly outpaced the $737.7K in gross profit.
| Metric | TTM | Jun'25 | Jun'24 | Jun'23 | Jun'22 | Jun'21 | Jun'20 | Sep'19 | Sep'18 | Sep'17 | Sep'16 | Sep'15 | Sep'14 | Sep'13 |
|---|
| Sales/Revenue | 16.28M | 4.29M | 343.5K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | 776.51% | 1148.97% | - | - | - | - | - | - | - | - | - | - | - | - |
| Cost of Goods Sold | 23.23M | 14.86M | 3.3M | 0 | 0 | 0 | 14.67K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| COGS % of Revenue | - | 346.48% | 962.07% | - | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | -6.95M | -10.57M | -2.96M | 0 | 0 | 0 | -14.67K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Gross Margin % | -42.67% | -246.48% | -862.07% | - | - | - | - | - | - | - | - | - | - | - |
| Gross Profit Growth % | - | -257.1% | - | - | - | 100% | - | - | - | - | - | - | - | - |
| Operating Expenses | 54.58M | 31.45M | 34.55M | 22.43M | 33.55M | 37.72M | 37.67M | 10.49M | 5.44M | 2.2M | 1.24M | 37.99K | 43.4K | 41.45K |
| OpEx % of Revenue | - | 733.04% | 10059.51% | - | - | - | - | - | - | - | - | - | - | - |
| Selling, General & Admin | 42.18M | 21.15M | 16.11M | 12.85M | 31.7M | 37.57M | 36.82M | 9.45M | 5.21M | 1.56M | 1.09M | 27.29K | 37.57K | 20.16K |
| SG&A % of Revenue | - | 493.01% | 4689.03% | - | - | - | - | - | - | - | - | - | - | - |
| Research & Development | 11.43M | 8.47M | 14.33M | 7.57M | 963.39K | 0 | 857.59K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | 197.43% | 4170.5% | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 974.71K | 1.83M | 4.12M | 2.01M | 887.92K | 18.08K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -61.53M | -42.02M | -37.52M | -22.43M | -33.55M | -37.72M | -37.69M | 0 | 0 | -2.2M | -1.24M | -37.99K | -43.4K | -41.45K |
| Operating Margin % | -377.85% | -979.51% | -10921.58% | - | - | - | - | - | - | - | - | - | - | - |
| Operating Income Growth % | - | -12.02% | -67.27% | 33.15% | 11.07% | -0.09% | - | - | 100% | -77.03% | -3169.67% | 12.47% | -4.69% | - |
| EBITDA | -57.37M | -36.86M | -35.74M | -22.23M | -33.43M | -37.71M | -37.67M | -10.49M | -5.44M | -2.2M | -1.24M | -37.99K | -43.4K | -41.45K |
| EBITDA Margin % | -352.3% | -859.27% | -10403.45% | - | - | - | - | - | - | - | - | - | - | - |
| EBITDA Growth % | -40.22% | -3.16% | -60.75% | 33.51% | 11.34% | -0.09% | -259.26% | -92.93% | -147.19% | -77.03% | -3169.67% | 12.47% | -4.69% | - |
| D&A (Non-Cash Add-back) | 4.16M | 5.16M | 1.78M | 197.73K | 114.63K | 14.67K | 14.67K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EBIT | -66.56M | -46.74M | -52.34M | -22.06M | -33.54M | -37.69M | -38.42M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Interest Income | -649.63K | -19.45K | -158.08K | -128.56K | -20 | -2.92M | -5.85M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 649.63K | 19.45K | 158.08K | 128.56K | 20 | 2.92M | 5.85M | 2.49M | 293.4K | 497.27K | 37.25K | 0 | 0 | 0 |
| Other Income/Expense | -2.06M | -4.74M | -14.99M | 237.07K | 9.42K | -4.04M | -4.07M | 353.04K | -319.16K | 5.83K | -27.05M | 0 | 0 | 0 |
| Pretax Income | -63.59M | -46.76M | -52.5M | -22.19M | -33.54M | -41.76M | -41.76M | -12.63M | -6.05M | -2.69M | -28.33M | -37.99K | -43.4K | -41.45K |
| Pretax Margin % | -390.48% | -1089.98% | -15284.37% | - | - | - | - | - | - | - | - | - | - | - |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -63.59M | -46.76M | -52.5M | -22.19M | -33.54M | -41.76M | -41.76M | -12.63M | -6.05M | -2.69M | -28.33M | -37.99K | -43.4K | -41.45K |
| Net Margin % | -390.48% | -1089.98% | -15284.37% | - | - | - | - | - | - | - | - | - | - | - |
| Net Income Growth % | -5.93% | 10.93% | -136.59% | 33.84% | 19.68% | 0% | -230.77% | -108.75% | -124.81% | 90.5% | -74479.29% | 12.47% | -4.69% | - |
| Net Income (Continuing) | -63.59M | -46.76M | -52.5M | -22.19M | -33.54M | -41.76M | -41.76M | -12.63M | -6.05M | -2.69M | -28.33M | -37.99K | -43.4K | -41.45K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.48 | -0.58 | -1.02 | -7.32 | -12.05 | -1.26 | -1.04 | -1.68 | -1.10 | -0.69 | -9.83 | -0.01 | -0.02 | -0.02 |
| EPS Growth % | 43.23% | 43.14% | 86.07% | 39.25% | -856.35% | -21.15% | 38.1% | -52.73% | -59.42% | 92.98% | -69125.35% | 12.88% | -5.16% | - |
| EPS (Basic) | - | -0.58 | -1.02 | -7.32 | -12.05 | -1.26 | -1.04 | -1.68 | -1.10 | -0.69 | -9.83 | -0.01 | -0.02 | -0.02 |
| Diluted Shares Outstanding | 131.86M | 80.32M | 51.24M | 2.92M | 2.78M | 33.22M | 17M | 7.53M | 5.49M | 3.89M | 2.88M | 2.67M | 2.67M | 2.67M |
| Basic Shares Outstanding | 131.86M | 80.32M | 51.24M | 2.92M | 2.78M | 33.22M | 17M | 7.53M | 5.49M | 3.89M | 2.88M | 2.67M | 2.67M | 2.67M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Capital structure dilution risk
According to recent quarterly filings, ABAT reported revenue of $7.8 million in 2026Q3, representing a significant sequential increase from the $4.8 million recorded in 2026Q2, though this growth remains highly volatile and dependent on the successful ramp-up of its primary recycling facility in Nevada.
The recent revenue acceleration suggests the company is beginning to transition from a pure exploration play to a commercial recycling operation. However, investors should monitor whether this growth is sustainable or merely a reflection of early-stage, non-recurring feedstock processing contracts that may not repeat.
As reported in financial statements, ABAT achieved a positive gross margin of 9.4% in 2026Q3, a notable departure from the deeply negative margins observed in previous quarters, such as the -33.6% margin reported during the 2026Q2 period of facility commissioning.
The shift to positive gross margins indicates that the company may be achieving initial operational efficiencies in its hydrometallurgical process. Nevertheless, the sustainability of these margins appears precarious given the sensitivity to lithium spot prices and the high fixed-cost nature of the current industrial footprint.
Based on the company's income statement data, SG&A expenses surged to $29.8 million in 2026Q3, significantly outpacing the $737.7K in gross profit, which suggests that the firm has yet to achieve the necessary scale to cover its substantial administrative and operational overhead.
The lack of operating leverage is evident as operating losses widened to $33.7 million in the most recent quarter. This indicates that the company's current revenue growth is insufficient to offset the heavy investment in specialized labor and infrastructure required to maintain its recycling operations.
Financial disclosures indicate that ABAT continues to carry a heavy cost burden, with R&D expenses reaching $4.6 million in 2026Q3, while SG&A costs have ballooned to $29.8 million, highlighting the significant capital intensity required to sustain the company's current technological and operational development phase.
The disproportionate size of SG&A relative to revenue suggests that the company is currently over-indexed on administrative and support functions for its current stage of commercialization. Investors should monitor whether these costs can be rationalized as the recycling facility moves toward full-scale production.
Data from the income statement reveals that despite the recent revenue uptick, the company's net loss of $33.8 million in 2026Q3 underscores a persistent inability to generate self-sustaining cash flow, raising questions about the long-term viability of the current business model without further external financing.
Short-sellers may focus on the disconnect between the company's revenue growth and its widening net losses, which suggests that the cost of acquiring and processing feedstock may remain structurally higher than the market value of the recovered materials. This warrants further investigation into the true unit economics of the recycling process.
Quick answers to the most common questions about buying ABAT stock.
For fiscal year 2025, American Battery Technology Company Common Stock (ABAT) reported total revenue of $4.3M.
American Battery Technology Company Common Stock (ABAT) reported a net loss of $46.8M for the fiscal year ending 2025.
American Battery Technology Company Common Stock (ABAT) reported an operating income of $-42.0M, resulting in an operating profit margin of -979.5%. This margin reflects the operational efficiency of the business before interest and taxes.
American Battery Technology Company Common Stock (ABAT) generated $-10.6M in gross profit for the year, representing a gross profit margin of -246.5%. This demonstrates the company's core pricing power and production efficiency.