American Battery revenue rallies 64%, Nevada plant reaches profitability threshold

American Battery Technology Company (NASDAQ:ABAT) reported revenue of $7.8 million for the quarter ended March 31, 2026, a 64% sequential increase over the prior quarter.

The company demonstrated notable operating leverage as its cost of goods sold (COGS) rose just 11% to $7.1 million over the same period.

This efficiency delivered a GAAP gross margin of $0.7 million, the first in the company’s history, and an adjusted non-GAAP gross margin of $2 million when excluding non-cash expenses like depreciation and stock-based compensation.

The Reno-based company ended the quarter with a robust liquidity position, reporting $38.5 million in cash and equivalents—of which $37.7 million is unrestricted—and zero debt.

This capital buffer is being deployed to accelerate a multi-pillar domestic supply chain strategy, including the expansion of its current Nevada operations and the advanced design phase of a second, larger recycling plant slated for the U.S. Southeast to meet rising demand from the regional "Battery Belt."

Beyond recycling, ABTC reported steady progress at its Tonopah Flats lithium project in Nevada.

The company is advancing the definitive feasibility study for the site, which sits on one of the largest known sedimentary claystone lithium deposits in the U.S.

Current projections from its pre-feasibility study suggest a project life of 45 years with an after-tax net present value (NPV) of approximately $2.57 billion.

The project was recently designated as a federal priority, potentially streamlining the permitting process for its integrated refinery.

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