Over the quarter, ABTC significantly ramped and streamlined operations at its Nevada critical mineral recycling facility and achieved record breaking revenue with a 64 percent increase quarter-over-quarter, while cost of goods sold increased only 11 percent over the same period, and correspondingly the company achieved its first-ever positive gross margin. This substantial growth in the throughput of its recycling facility has allowed ABTC to capitalize on strong market conditions and solidify itself as one of the dominant critical mineral recyclers in the United States.
Financial Highlights, Third Quarter of FY26:
- $7.8 million in Revenue, a 64 percent increase from the previous quarter and an additional $0.3 million income from interest for the quarter.
- $7.1 million in Cost of Goods Sold, an 11 percent increase from the previous quarter.
- $5.8 million cash cost of goods sold (non-GAAP), with exclusion of non-cash expenses of depreciation and stock-based compensation.
- $0.7 million in Gross Margin, ABTC’s first positive gross margin operations.
- $2.0 million in Adjusted Gross Margin (non-GAAP1), with exclusion of non-cash expenses of depreciation and stock-based compensation.
- $38.5 million cash, balance as of end of quarter which includes $37.7 million in unrestricted and $0.8 million in restricted cash.
- $0.0 million debt, company currently holds zero debt.
“Demonstrating positive gross margin from operations is a major milestone that many growth companies never achieve and allows us to enable self-sustaining operations of our critical mineral recycling facility,” stated chief executive officer Ryan Melsert. “The gross profit generated by this facility provides additional resources as we continue to scale the operations at this first critical mineral recycling facility, construct and bring to operations our second recycling facility, and construct and ramp our critical mineral lithium mine and refinery to support the U.S. establishing dominance with a closed loop domestic critical mineral supply chain.”
Critical Mineral Recycling Highlights – Scaled and Streamlined Operations
- Significantly increased throughput and operational effectiveness of recycling operations, resulting in substantially increased revenue and only relatively lower increase in cost of goods sold.
- Growth was fueled by increased processing of high-value recycled products from Battery Energy Storage Systems (BESS) supporting datacenters and artificial intelligence (AI) facilities, end-of-life electric and hybrid vehicles, and consumer electronics.
- Continued innovation and cost-down optimizations drove improvements in gross margins and facility utilization.
- As one of the few recyclers in the Western U.S capable of handling CERCLA-classified waste, ABTC’s Nevada lithium-ion battery recycling facility, permitted by the EPA in the spring of 2025 under CERCLA, has emerged as a critical revenue engine recovering valuable metals from
high-demand, hard-to-recycle battery sources. - Continued development of a second critical mineral recycling facility in the Southeast U.S., with plans to substantially scale capacity compared to company’s existing recycling plant in Nevada, positioning the company for expanded, matched-market impact.
- The establishment of new supply chain partnerships with leading BESS facilities and automotive OEMs, providing near-term and long-term material flows to support the Company’s growing operations.
Published June 2026