Financial Performance - Total revenue for the three months ended December 31, 2025, was $4,759,831, a significant increase from $332,440 in the same period of 2024, representing a growth of 1,328%[14] - Net loss for the three months ended December 31, 2025, was $9,280,971, an improvement from a net loss of $13,400,506 in the same period of 2024, showing a reduction of 31%[14] - For the six months ended December 31, 2025, the net loss was $19.58 million, compared to a net loss of $25.1 million for the same period in 2024, indicating a reduction in losses[19] - Total operating expenses for the six months ended December 31, 2025, were $14,891,826, down from $18,289,938 in the previous year[14] - The company reported a net loss of $(10,299,566) for the six months ended December 31, 2025, reflecting ongoing operational challenges[16] Assets and Liabilities - Total current assets increased to $63,053,844 as of December 31, 2025, up from $29,532,110 as of June 30, 2025, reflecting a growth of 113%[11] - The total liabilities decreased to $4,363,822 as of December 31, 2025, down from $13,858,768 as of June 30, 2025, a reduction of 69%[11] - The company’s total stockholders' equity rose to $118,978,655 as of December 31, 2025, compared to $70,599,023 as of June 30, 2025, marking an increase of 68%[12] - Cash and cash equivalents increased to $47,894,544 as of December 31, 2025, compared to $7,474,304 as of June 30, 2025, representing a growth of 540%[11] - The total accumulated deficit as of December 31, 2025, was $279.7 million, reflecting ongoing operational challenges since inception[23] Cash Flow and Financing - The company incurred negative cash flows from operating activities of $16.95 million for the six months ended December 31, 2025, compared to $12.82 million for the same period in 2024[19] - The company generated $55.35 million in net cash from financing activities for the six months ended December 31, 2025, compared to $27.95 million for the same period in 2024, reflecting a 97% increase[19] - The company had cash and restricted cash of $48.69 million at the end of the period, up from $20.62 million a year earlier, marking a 136% increase[19] - The company issued 8,217,533 shares in an At-The-Market offering, raising approximately $21,017,987 in additional paid-in capital[16] - The company recognized a total of $1.9 million in proceeds from private placement, with $0.6 million from related parties[85] Research and Development - Research and development expenses for the six months ended December 31, 2025, totaled $6,515,274, compared to $4,952,000 for the same period in 2024, reflecting an increase of 31.6%[14] - The Company is focused on increasing domestic production of critical battery materials and recycling lithium-ion batteries[21] - The company is engaged in the commercialization of an integrated process for recycling lithium-ion batteries, contributing to its strategic focus on sustainability[21] Grants and Tax Credits - The Company completed a project funded by the DOE with cumulative funds invoiced totaling $2.3 million, representing 100% of eligible reimbursements[51] - The Company invoiced and collected $5.9 million related to a DOE grant for a lithium hydroxide refinery project, representing 10% of total eligible reimbursements[54] - The Company has been selected for a tax credit of up to $19.5 million through the 48C program, with qualifying expenditures incurred but not yet recognized[56] - An additional tax credit of up to $40.5 million was granted for the design and construction of a new commercial battery recycling facility in the U.S.[57] - The Company received a $144 million grant from the DOE for a new lithium-ion battery recycling facility, with $2.0 million invoiced as of December 31, 2025, representing 1.4% of total eligible reimbursements[58] Inventory and Assets Management - The total inventories as of December 31, 2025, amounted to $284.7 million, consisting of $224.9 million in raw materials and $59.8 million in finished goods[49] - The net carrying value of property and equipment as of December 31, 2025, was $50.4 million, an increase from $45.5 million on June 30, 2025[59] - Total accounts payable and accrued liabilities decreased to $4.1 million as of December 31, 2025, down from $5.8 million on June 30, 2025[68] Shareholder Equity and Stock - The weighted average shares outstanding increased to 129,287,997 for the three months ended December 31, 2025, compared to 75,315,210 for the same period in 2024, indicating a growth of 71.7%[14] - The Company granted 8.9 million share awards under the Retention Plan during the six months ended December 31, 2025[110] - The company issued 1,230,959 common shares upon vesting of share-based awards during the six months ended December 31, 2025[98] - As of December 31, 2025, there were 12,968,769 warrants outstanding, down from 16,138,037 in December 31, 2024[106] - The Company recognized $4.0 million in fair value for share awards that vested during the six months ended December 31, 2025[112]
American Battery Technology pany(ABAT) - 2026 Q2 - Quarterly Report