American Battery Technology pany(ABAT) - 2025 Q4 - Annual Results

Executive Summary & Financial Highlights Company Announcement & Overview American Battery Technology Company (ABTC) announced its fiscal 2025 fourth quarter and full year financial results, highlighting a significant acceleration in revenue growth that nearly tripled quarterly revenue and substantially outpaced operational cost increases, signaling a clear trajectory towards profitability - ABTC nearly tripled quarterly revenue, increasing over 180% for Q4 FY2025[1] - Revenue growth substantially outpaced the increase in operational costs, signaling a clear trajectory towards profitability[2] Key Financial Highlights ABTC achieved exponential revenue growth in FY2025, with Q4 revenue nearly tripling and full-year revenue increasing over 1,100%, demonstrating strong cost control, reduced operating expenses, and a robust cash position, while also being added to the Russell 2000 index Key Financial Highlights (Q4 FY2025 vs Q3 FY2025, and FY2025 vs FY2024) | Metric | Q4 FY2025 (million $) | Q3 FY2025 (million $) | Change (QoQ) | FY2025 (million $) | FY2024 (million $) | Change (YoY) | | :-------------------------------- | :------------------- | :------------------- | :----------- | :----------------- | :----------------- | :----------- | | Revenue | 2.8 | 1.0 | +183% | 4.3 | 0.3 | +1,149% | | Cash Cost of Goods Sold (non-GAAP) | 3.9 | 2.3 | +70% | 10.5 | 1.8 | +483% | | Total Operating Expenses | N/A | N/A | N/A | 31.4 | 44.8 | -30% | - Added to Russell 2000 index in June 2025, resulting in a significant increase in trading volume and institutional ownership[3] - Strong cash position with $12.5 million at June 30, 2025, further enhanced to $25.4 million as of September 15, 2025[3] Operational Highlights CEO Statement CEO Ryan Melsert expressed pride in the ABTC team's exponential ramp-up of operations at their first recycling facility and outlined an exciting path ahead, including continued growth and accelerating the commercialization of the Tonopah Flats Lithium Project and a second battery recycling facility - CEO Ryan Melsert highlighted the exponential ramp-up of the first recycling facility and future growth plans for the Tonopah Flats Lithium Project and a second battery recycling facility[4] Battery Recycling Highlights ABTC significantly scaled its battery recycling operations, increasing Q4 throughput by 70% and expanding feed material sources to include stationary battery energy storage systems, while successfully completing its USCAR contract and securing a $144 million DOE grant for a second facility - Continued ramp of operations at the first battery recycling facility, with Q4 throughput increasing 70% over Q3[6] - ABTC's recycling facility is now receiving substantial quantities of feed material from stationary battery energy storage systems (BESS), in addition to end-of-life electric vehicles and consumer electronics[6] - Successfully closed out and completed all requirements in its contract with the U.S. Advanced Battery Consortium (USCAR) during FY2025[6] - Selected for and contracted a competitive grant for $144 million from the U.S. DOE for the construction of a second battery recycling facility in the Southeast U.S.[6] Primary Lithium from Claystone Manufacturing Highlights ABTC advanced its Tonopah Flats Lithium Project by developing proprietary technologies for lithium hydroxide manufacturing from Nevada-based claystone, completing a multi-tonne per day integrated pilot facility, gaining 'Transparency Priority' and 'Covered Project' status, and securing a $900 million Letter of Interest for a low-interest loan - Developed proprietary technologies for manufacturing critical mineral lithium hydroxide from Nevada-based claystone material and constructed a multi-tonne per day integrated pilot facility[6] - Successfully closed out and completed all requirements in its $2.3 million grant award from the U.S. DOE for the design, construction, and operation of its integrated domestic claystone to lithium hydroxide pilot facility[6] - Designed a commercial-scale lithium refinery for the Tonopah Flats Lithium Project, anticipated to manufacture 30,000 tonnes of lithium hydroxide per year, with long-term commercial offtake agreements under development[6] - Tonopah Flats Lithium Project was approved as a 'Covered Project' by the FAST-41 Permitting Council and National Energy Dominance Council, prioritizing streamlined permitting[6] - Received an approved Letter of Interest from the US Export-Import Bank for a $900 million low-interest loan to support the construction of the commercial lithium mine and refinery[6] Financial Performance Unaudited Condensed Consolidated Statements of Operations For fiscal year 2025, ABTC reported a significant increase in revenue to $4.3 million, alongside a gross loss of $10.6 million, with total operating expenses decreasing by 30% to $31.4 million, contributing to a reduced net loss of $46.8 million Unaudited Condensed Consolidated Statements of Operations (FY2025 vs FY2024) | Metric | FY2025 ($) | FY2024 ($) | Change (%) | | :----------------------------------- | :----------- | :----------- | :--------- | | Revenue | 4,290,224 | 343,500 | +1,149% | | Cost of goods sold | 14,864,633 | 3,304,707 | +350% | | Gross loss | (10,574,409) | (2,961,207) | +257% | | General and administrative | 21,151,445 | 16,106,807 | +31.3% | | Research and development | 8,470,161 | 14,325,681 | -40.9% | | Exploration | 1,827,314 | 4,121,941 | -55.7% | | Impairment charge on held-for-sale assets | - | 10,254,037 | -100% | | Total operating expenses | 31,448,920 | 44,808,466 | -30% | | Net loss attributable to common stockholders | (46,762,625) | (52,501,824) | -11% | | Net loss per share, basic and diluted | (0.58) | (1.02) | -43.1% | | Weighted average shares outstanding | 80,316,363 | 51,243,106 | +56.7% | Unaudited Condensed Consolidated Balance Sheets As of June 30, 2025, ABTC's total assets increased to $84.5 million from $77.7 million in FY2024, driven by growth in current assets, while total liabilities decreased to $13.9 million and total stockholders' equity rose to $70.6 million Unaudited Condensed Consolidated Balance Sheets (June 30, 2025 vs June 30, 2024) | Metric | June 30, 2025 ($) | June 30, 2024 ($) | Change (%) | | :-------------------------------- | :---------------- | :---------------- | :--------- | | ASSETS | | | | | Cash | 7,474,304 | 7,001,786 | +6.7% | | Accounts receivable | 2,799,603 | 228,499 | +1,125% | | Restricted cash | 5,000,000 | – | N/A | | Total current assets | 29,532,110 | 18,406,048 | +60.4% | | Total assets | 84,457,791 | 77,675,132 | +8.7% | | LIABILITIES & STOCKHOLDERS' EQUITY | | | | | Total current liabilities | 13,668,605 | 15,798,298 | -13.5% | | Total liabilities | 13,858,768 | 16,207,492 | -14.5% | | Total stockholders' equity | 70,599,023 | 61,467,640 | +14.9% | Non-GAAP Financial Measures Reconciliation ABTC provides non-GAAP financial measures, specifically 'cash cost of goods sold,' to offer investors additional insights into its fundamental business performance by excluding non-cash items not indicative of core operations Reconciliation of GAAP to Non-GAAP Cash Cost of Goods Sold (Q4 FY2025) | Description | Amount ($M) | | :-------------------------- | :---------- | | GAAP Cost of Goods Sold | 5.1 | | Less: Depreciation Expense | (1.0) | | Less: Stock-Based Compensation | (0.2) | | Non-GAAP Cash Cost of Goods Sold | 3.9 | Reconciliation of GAAP to Non-GAAP Cash Cost of Goods Sold (FY2025) | Description | Amount ($M) | | :-------------------------- | :---------- | | GAAP Cost of Goods Sold | 14.9 | | Less: Depreciation Expense | (3.6) | | Less: Stock-Based Compensation | (0.6) | | Non-GAAP Cash Cost of Goods Sold | 10.7 | - Non-GAAP measures are used to provide meaningful comparisons by excluding items not reflecting fundamental business performance[11] Company Information & Disclosures About American Battery Technology Company American Battery Technology Company (ABTC), headquartered in Reno, Nevada, pioneers technologies to unlock domestically manufactured and recycled battery metals, committed to establishing a circular supply chain for sustainable energy - ABTC pioneers technologies for domestically manufactured and recycled battery metals critically needed for electric vehicles, stationary storage, and consumer electronics industries[9] - Committed to a circular supply chain for battery metals, innovating for a global transition to electrification and sustainable energy[9] Forward-Looking Statements This section outlines various forward-looking statements regarding ABTC's future operations, sales, financing, and project developments, emphasizing that actual results may differ materially due to inherent risks and uncertainties including going concern ability, permitting, economic conditions, and fluctuating mineral prices - Statements include future sales, potential loans/grants, scale of operations, anticipated production, and project costs/schedules[10] - Warns that future results may differ materially due to risks such as going concern ability, interpretations of geologic information, inability to obtain permits, general economic conditions, regulatory requirements, and fluctuating mineral prices[10] Earnings Call & Media Contact ABTC announced its fiscal year 2025 earnings call to be held on Monday, September 22, at 4:30 p.m. ET, providing details for accessing the webcast, with media contact information also provided for inquiries - ABTC will host its FY2025 earnings call on Monday, September 22 at 4:30 p.m. ET[7] - Media contact for inquiries: Tiffiany Moehring, tmoehring@batterymetals.com, 720-254-1556[12]