Short answer
AMERICAN BATTERY TECHNOLOGY Co (ABAT) filed its fiscal 2026 10-K annual report with the SEC on Sep 14, 2026. It reported revenue of $22M (+406.8% year over year) and net income of −$73M.
- Top risk flagged: Regulatory risk: August 2026 federal Directive bans export of black mass without U.S. Department Commerce exception, threatening majority of revenue
FY2026 key financial metrics · XBRL
- Revenue
- $22M
- +406.8% YoY
- Net income
- −$73M
- −56.9% YoY
- Operating margin
- -343.6%
- +635.9 pp YoY
- EPS (diluted)
- −$0.58
- +0.0% YoY
- ROE
- -58.1%
- +8.2 pp YoY
- Operating cash flow
- −$24M
- +16.4% YoY
Source: XBRL data from the AMERICAN BATTERY TECHNOLOGY Co (ABAT) FY2026 10-K on SEC EDGAR. USD.
AMERICAN BATTERY TECHNOLOGY Co FY2026 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Integrated critical minerals producer focused on domestic lithium-ion battery materials from exploration, proprietary lithium extraction, and advanced recycling
- New large-scale recycling facility grant for 100,000 tonnes/year capacity awarded $150M DOE funding in September 2024
- Strategic emphasis on scalable closed-loop battery recycling with low environmental impact, contrasting prior focus on primary lithium extraction
- Workforce grown to 195 employees as of September 2026, supporting expanded recycling and refining operations
- Received two investment tax credits totaling $60M under U.S. DOE 48C program for facility construction and scale-up in 2024
Management Discussion & Analysis
- Revenue $21.7M FY 2026, up 407% YoY from $4.3M FY 2025, driven by higher production volumes and product prices
- Gross loss improved to $(3.1)M FY 2026 from $(10.6)M FY 2025; adjusted gross margin $1.7M FY 2026 vs $(6.2)M FY 2025
- Best segment: Recycling operations revenue growth leading; no explicit worst segment revenue data disclosed
- Cash $49.5M at June 30, 2026; operating cash outflow $24.2M, investing cash outflow $13.6M, financing inflow $75.6M including $65.8M ATM sales
- Management highlights $150M DOE grant for new facility, TFLP lithium resource development, but notes risk from DOE grant termination episode and reliance on equity/debt financing
Risk Factors
- Regulatory risk: August 2026 federal Directive bans export of black mass without U.S. Department Commerce exception, threatening majority of revenue
- Geopolitical threat: U.S.-China trade disputes and tariffs on lithium-related imports risk supply chain disruptions and increased costs
- Operational vulnerability: Operations concentrated in single Nevada recycling facility and Tonopah project; disasters or utility interruptions could halt production
- Market disruption: Competition for lithium-ion battery feedstock rising from recyclers and manufacturers, raising costs and impacting supply availability
- Financial risk: $73.4M net loss FY2026, accumulated deficit $333.5M, negative operating cash flow $24.2M, with uncertain additional financing within 12 months
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