Core Insights - American Battery Technology (ABAT) reported record revenue from its first commercial-scale lithium-ion battery recycling facility, generating approximately $4.8 million in product revenue and about $300,000 in interest income for a total of roughly $5.1 million in the quarter ended December [2][4][6] - The company is focused on building a "closed-loop" battery materials infrastructure, which includes lithium-ion battery recycling and primary lithium production from claystone, to meet the growing demand for critical minerals [3][18] - ABAT ended the quarter with a cash balance of approximately $48.7 million, has zero debt, and appointed Alex Flores as CFO to support growth and financing [5][7][8] Financial Performance - Operating costs for the recycling plant were about $4.9 million in cash expenses and $6.4 million when including non-cash costs, indicating that revenue is nearing cash break-even [1][6] - The December quarter's revenue was greater than the total revenue of the previous four quarters combined, showcasing significant growth [6] Operational Updates - The company is receiving significant volumes of battery material from the automotive sector and stationary grid applications, focusing on improving plant efficiency through economies of scale [9][10] - ABAT is advancing its Tonopah Flats Lithium Project, which aims to produce battery-grade lithium hydroxide from claystone, with a pre-feasibility study showing attractive returns and a modeled production cost of just over $4,300 per ton [5][14][15] Expansion Plans - ABAT is moving forward with the design and construction of a second battery recycling facility in the Southeast U.S. [11] - The company is working on a definitive feasibility study for the Tonopah Flats project, expected to be published shortly [15] Regulatory and Certification Achievements - ABAT has received CERCLA certification, allowing it to receive certain types of material from stationary facilities across the country, and is working with the EPA to manage this certification [10]
American Battery Technology Q2 Earnings Call Highlights