American Battery Technology Company (ABTC) reported significant financial developments in its latest 10-Q filing for the quarter ending September 30, 2025. The company generated revenue of $937,589, a substantial increase from $201,960 in the same period last year, marking a 364% rise. However, the cost of goods sold also rose to $4.5 million from $2.5 million, leading to a gross loss of $3.5 million, compared to a gross loss of $2.3 million in the prior year. The net loss for the quarter was $10.3 million, a slight improvement from the $11.7 million loss reported in the same quarter of 2024.
In terms of operational changes, ABTC's total assets increased to $101.5 million from $84.5 million at the end of the previous quarter, primarily due to a significant rise in cash and cash equivalents, which reached $30.9 million, up from $7.5 million. This increase was attributed to successful capital raises, including $22.2 million from an At-The-Market (ATM) offering and the conversion of debt into equity. The company’s total liabilities decreased significantly to $5.5 million from $13.7 million, reflecting the conversion of outstanding notes payable into common stock.
Strategically, ABTC has made strides in expanding its operational capabilities. The company has ramped up its lithium-ion battery recycling facility, which is now fully operational, and has begun receiving materials for recycling from significant contracts, including a project involving 10,000 tonnes of damaged batteries from the Moss Landing Battery Energy Storage System. Additionally, ABTC has been awarded multiple grants and tax credits, including a $19.5 million tax credit under the 48C program and a $20 million grant from the Department of Energy to support its recycling technologies.
The company’s workforce has also expanded, with increased hiring to support its operational growth. As of September 30, 2025, ABTC had a working capital of $35.4 million, a significant increase from $10.9 million at the end of the previous quarter. The company continues to focus on enhancing its production efficiency and scaling operations, with management expressing optimism about future revenue growth and cost efficiencies.
Looking ahead, ABTC anticipates that its operating losses will decrease as it continues to grow its revenue streams and optimize its operations. The company is actively pursuing additional capital to fund its ongoing projects and has plans to address the material weaknesses identified in its internal controls over financial reporting. Management is committed to implementing necessary changes to ensure effective financial oversight and reporting as it navigates its growth trajectory in the critical battery materials sector.
About AMERICAN BATTERY TECHNOLOGY Co
American Battery Technology Company is a critical battery materials firm focused on enhancing U.S. production of lithium, nickel, cobalt, and manganese for lithium-ion batteries. It specializes in innovative recycling technologies and sustainable extraction processes from domestic resources. Targeting the growing $250 billion battery market, the company aims to create a closed-loop supply chain. Significant initiatives include partnerships with BASF and the U.S. Advanced Battery Consortium to advance battery recycling and production technologies.
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