Improved recycling performance helped American Battery Technology Co. (ABTC) post record quarterly revenue and gross profit totals in the most recent quarter, the company announced Thursday.
The company’s quarter-over-quarter revenue grew 5.1%, totaling $8.2 million in the fourth quarter of this year, which ended June 30. Combined with a 2.8% drop in the cost of goods sold, ABTC posted $1.3 million in gross profit, up 86% from the prior quarter.
Company leadership said a production increase and implementation of operational efficiencies at its Nevada critical mineral recycling facility helped increase cash flow. Company CEO Ryan Melsert said the recycling improvements “exemplify the competitiveness of our technology and market position.”
The company also continued to develop its critical mineral mine and refinery at its Tonopah Flats Lithium Project, a Nevada site for which the company won a lawsuit earlier this year to have a $57 million Department of Energy grant reinstated. That money will go toward a $115 million project that will extract up to 30,000 metric tons of battery-grade lithium hydroxide per year.
The site had been fast-tracked under federal guidelines looking for an enhanced domestic mineral supply, requiring fewer permits and speeding up construction. ABTC has started a definitive feasibility study for the mine, which is the last engineering and financial analysis required before commercial production begins.
Company leadership said the recycling facility is focusing on high-value products from battery energy storage systems, which come from data centers and AI facilities, as well as EVs and other consumer electronics. That’s led to several supply chain partnerships with battery facilities and automakers, which leaders said will ensure short- and long-term material flow.
A 2025 permit from the EPA allowing ABTC to process Superfund-classified scrap makes it one of the few facilities in the West capable of doing so, providing a revenue stream from hard-to-recycle battery sources.
The revenue surge will help fund the mine in Nevada as well as a second recycling facility to be built in an undisclosed location in the Southeast. That site will have a higher capacity than the current Nevada facility, leadership said, “positioning the company for expanded, matched-market impact.”
The company’s full-year financial report will be released in the near future. The company’s stock price fell slightly after the announcement, standing at $2.30 per share as of late Thursday afternoon, as some investors remain cautious about ABTC’s need for continued funding.
