American Battery Technology Company (ABTC) reported Q4 2025 revenue of $2.8 million, a 183% increase over the prior quarter, while full year revenue, ended June 30, 2025, surged 1,149% to $4.3 million compared with fiscal 2024.
This rapid growth was accompanied by strong operational cost control as total operating expenses for the year decreased 30% to $31.4 million despite significant expansion in company operations. As of mid-September, ABTC’s cash position stood at $25.4 million.
Despite exponential revenue growth and improved cost management, ABTC posted a net loss of $46.8 million for fiscal 2025, though this represents a 10.9% reduction over the prior year’s loss. This net loss reflects the company’s costs and investment in expanding its recycling and lithium extraction operations, which still exceeded revenues during 2025.
The company’s results are related to the rapid expansion at its Nevada recycling facility and major advances in lithium extraction. CEO Ryan Melsert summed up the company’s outlook. “We continue to ramp operations at our first recycling facility at such an exponential rate … We have an exciting path ahead as we continue the growth in operations at our current facilities, while also accelerating the commercialization of our Tonopah Flats Lithium Project and our second battery recycling facility with our strategic partners.”
The company’s battery recycling segment is scaling to meet demand from a diverse customer base. This past quarter, ABTC ramped up throughput at its Nevada facility by 70% over the previous quarter, fueled by a surge in feedstock from stationary battery energy storage systems and end-of-life sources like electric vehicles and consumer electronics. ABTC also landed a $144 million Department of Energy grant to build a second recycling plant in the Southeastern US and completed key requirements under an Advanced Battery Consortium contract alongside General Motors, Ford and Stellantis.
On the lithium front, ABTC’s Nevada project hit several milestones. The company developed proprietary technology for turning Nevada claystone into lithium hydroxide and constructed a pilot plant, with commercial plans targeting annual production of 30,000 metric tons. The Tonopah Flats Lithium Project was designated as both a Transparency Priority and Covered Project by federal authorities and received a $900 million low-interest loan interest letter from the US Export-Import Bank to spur commercial construction.
Management reported it is now prioritizing multi-year contracts with large OEMs for both feedstock supply and recycled product offtake. With US automakers looking to shorten their list of recycling partners, ABTC expects its track record and scalable model to stand out in a winnowing market.
While the company made notable progress in scaling up commercial activity and controlling expenses, in its current stage, it relies on substantial external funding and government grants to sustain its aggressive growth plans. Maintaining this trajectory will require continued improvements in operating efficiency and successful ramp-up of new facilities to balance future revenues with costs.
Also as required under US securities regulations for forward-looking statements, ABTC detailed a number of risks in its public filings, including that the company’s continued operation depends on securing outside financing at acceptable terms. It also cited the risk of unfavorable exploration results, delays or inability to obtain required permits for growth projects, swings in commodities prices, or changes in economic and industry conditions.
A version of this story appeared in Resource Recycling on Sept. 22.
