American Battery Technology Company Announces First Quarter FY27 Financial Results Including 83% Year-Over-Year Revenue Growth

• $100 million license awarded from U.S. Department of Commerce for sale and export of recycled black mass product
• Major milestone achieved with federal permitting for ABTC’s Tonopah Flats Lithium Project, one of the largest identified critical mineral lithium projects in the U.S.
• Company demonstrates strong cash position along with zero debt
  

RENO, Nev., Nov. 13, 2026 (GLOBE NEWSWIRE) -- American Battery Technology Company (NASDAQ: ABAT), an integrated domestic critical mineral manufacturing company that is commercializing its internally-developed technologies for both primary critical mineral manufacturing and secondary critical mineral recycling, released the financial results for its first quarter of fiscal year 2027 ended on September 30, 2026.

Financial Highlights, First Quarter of FY27:

• $1.7 million in Revenue, an 83% increase from the same quarter the previous year
  • An additional $0.4 million recorded as interest income for the quarter
  • Substantial increase in finished goods inventory, from the continued commercial scale operations of recycling facility but with the accumulation of product due to temporary federal export ban
• $5.4 million in Cost of Goods Sold, an only 20% increase from the same quarter the previous year
  • Resulting from implementation of multiple operational efficiencies
• $43.4 million cash, including $0.1 million in restricted cash
• $0.0 million debt, Company currently holds zero debt
  

Over the quarter, American Battery Technology Company (ABTC) continued to scale-up and implement operational efficiencies at its Nevada critical mineral recycling facility. While the commercial facility continued operations throughout the quarter, on August 6, 2026, the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) issued a directive in the federal register that it was restricting the export of black mass from recycled battery materials effective August 27, 2026. Recycled black mass is the primary product from ABTC’s critical mineral recycling facility, and essentially all of this product is exported for sale.

ABTC submitted an exception request for a license to continue to export black mass throughout the approximately one-year duration of this export restriction, and on September 30, 2026, the BIS issued such a license to ABTC. This temporary restriction of the export of black mass resulted in a large accumulation of finished goods inventory within the quarter, and limited sale and recognition of revenue within Q1 FY27. Subsequent to the conclusion of this reporting period, ABTC restarted the large-scale sale and exportation of accumulated black mass product, along with the sale of product made within Q2 to date.

“We are excited to have been issued this license and to now be selling the black mass produced within Q1 FY27 along with the black mass we are currently producing and are grateful to our multiple stakeholders and champions who supported us during this process,” stated American Battery Technology Company CEO Ryan Melsert. “We are proud of the strong relationships we have built within multiple agencies throughout the U.S. government and across multiple administrations.”

In addition to operating its critical mineral recycling facility, ABTC is also developing its critical mineral mine and refinery at its Tonopah Flats Lithium Project (TFLP) near Tonopah, Nevada. During the quarter ABTC announced that it has received acceptance of its Plan of Operations by the U.S. BLM for the construction and operations of its TFLP, which is a major milestone in the commercialization of one of the largest identified critical mineral lithium resources in the United States.

Description ($M)	Q1 FY27 Ended September 30, 2026		Q1 FY26 Ended September 30, 2025		Change
Revenue	$ 1.7		$ 0.9		83%
Cost of goods sold	$ (5.4)		$ (4.5)		20%
Gross profit (loss)	$ (3.6)		$ (3.5)		4%

Critical Mineral Recycling Highlights: Continued and Expanded Sales of Products

• Receipt of license for the export of up to $100 million of recycled black mass product to strategic customers
• Implementation of operational effectiveness of recycling operations, resulting in significant cost savings
• Continued 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
• 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 Spring 2025 under CERCLA, has emerged as a critical revenue engine recovering valuable metals from high-demand, hard-to-recycle battery sources
• Continued development for the establishment of our 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

Primary Lithium from Claystone Highlights: Accelerating a Domestic Supply Chain

• ABTC’s Tonopah Flats Lithium Project (TFLP), one of the largest lithium deposits in the U.S., continues to secure its position as a cornerstone of the domestic critical mineral supply chain to support demand and drive future growth
• ABTC received a notice that its mine and refinery Plan of Operations was accepted by the U.S. Bureau of Land Management (BLM), marking a major milestone in project commercialization
• ABTC successfully won its appeal and had full reinstatement of its $57 million competitive grant from the U.S. Department of Energy supporting the $115 million construction of the first processing train at the TFLP
• ABTC has successfully advanced its claystone-to-lithium hydroxide demonstration plant and is now focused on scaling through construction of a full-scale commercial mine and refinery
• Designated as a Fast-41Transparency Covered Project under federal initiatives to boost and onshore domestic critical mineral supply, the TFLP benefits from streamlined federal permitting efforts, accelerating its path to commercialization of a new U.S. lithium resource and domestic production of critical mineral lithium hydroxide
• The company achieved a critical milestone by completing and submitting all baseline studies for the National Environmental Policy Act (NEPA) review process, a multi-year effort overseen by the Department of Interior’s Bureau of Land Management (BLM), involving over 40 regulatory agencies and stakeholders across 21 study areas
• The company has initiated its Definitive Feasibility Study, the final phase of engineering and financial analysis required to move the project into commercial production, with recommendations published in its September 2025 Pre-Feasibility Study (PFS)
  • Designed production of 30,000 tonnes per year of lithium hydroxide monohydrate (LHM), with project economics calculated for a 45-year life-of-mine
  • After-tax NPV at 8% of $2.57 billion and IRR of 21.8%, underscoring its financial viability
  • Highly competitive production cost of $4,307 per tonne, representing a 9.2% reduction from the company’s April 2024 Initial Assessment
  • Total TFLP lithium resources (measured, indicated, and inferred) increased approximately 11% to 21.3 million tonnes LHM, and establishment of 2.73 million tonnes of proven (0.98) and probable (1.75) reserves, compared to April 2024 Initial Assessment
    

ABTC hosted its Annual Shareholder Meeting yesterday, providing shareholders with an update on the company’s progress, strategic priorities, and continued advancement of its critical mineral recycling and primary lithium initiatives. A recording of the webcast within 24 hours will be available at Virtualshareholdermeeting.com/ABTC2026 or on ABTC’s Earnings & Events page.

About American Battery Technology Company 
American Battery Technology Company (ABTC), headquartered in Reno, Nevada, has pioneered first-of-kind technologies to unlock domestically manufactured and recycled battery metals critically needed to help meet the significant demand from the electric vehicle, stationary storage, and consumer electronics industries. Committed to a circular supply chain for battery metals, ABTC works to continually innovate and master new battery metals technologies that power a global transition to electrification and the future of sustainable energy.

Inferred Resource
Inferred Mineral Resource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. The level of geological uncertainty associated with an Inferred Mineral Resource is too high to apply relevant technical and economic factors likely to influence the prospects of economic extraction in a manner useful for evaluation of economic viability. Because an Inferred Mineral Resource has the lowest level of geological confidence of all mineral resources, which prevents the application of the modifying factors in a manner useful for evaluation of economic viability, an Inferred Mineral Resource may not be considered when assessing the economic viability of a mining project, and may not be converted to a mineral reserve.

Indicated Resource
Indicated Mineral Resource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of adequate geological evidence and sampling. The level of geological certainty associated with an Indicated Mineral Resource is sufficient to allow a qualified person to apply modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit. Because an Indicated Mineral Resource has a lower level of confidence than the level of confidence of a Measured Mineral Resource, an Indicated Mineral Resource may only be converted to a Probable Mineral Reserve.

Measured Resource
Measured Mineral Resource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of conclusive geological evidence and sampling. The level of geological certainty associated with a Measured Mineral Resource is sufficient to allow a qualified person to apply modifying factors, as defined in this section, in sufficient detail to support detailed mine planning and final evaluation of the economic viability of the deposit. Because a Measured Mineral Resource has a higher level of confidence than the level of confidence of either an Indicated Mineral Resource or an Inferred Mineral Resource, a Measured Mineral Resource may be converted to a Proven Mineral Reserve or to a Probable Mineral Reserve.

Mineral Reserve
Mineral Reserve is an estimate of tonnage and grade or quality of indicated and measured mineral resources that, in the opinion of the qualified person, can be the basis of an economically viable project. More specifically, it is the economically mineable part of a measured or indicated mineral resource, which includes diluting materials and allowances for losses that may occur when the material is mined or extracted.

Probable Mineral Reserve
Probable Mineral Reserve is the economically mineable part of an indicated and, in some cases, a measured mineral resource.

Proven Mineral Reserve
Proven Mineral Reserve is the economically mineable part of a measured mineral resource and can only result from conversion of a measured mineral resource.

Pre-Feasibility Study
A Preliminary Feasibility Study (or Pre-Feasibility Study) is a comprehensive study of a range of options for the technical and economic viability of a mineral project that has advanced to a stage where a qualified person has determined (in the case of underground mining) a preferred mining method, or (in the case of surface mining) a pit configuration, and in all cases has determined an effective method of mineral processing and an effective plan to sell the product. A Pre-Feasibility Study includes a financial analysis based on reasonable assumptions, based on appropriate testing, about the modifying factors and the evaluation of any other relevant factors that are sufficient for a qualified person to determine if all or part of the Indicated and Measured Mineral Resources may be converted to mineral reserves at the time of reporting. The financial analysis must have the level of detail necessary to demonstrate, at the time of reporting, that extraction is economically viable. A Pre-Feasibility Study is less comprehensive and results in a lower confidence level than a feasibility study. A Pre-Feasibility study is more comprehensive and results in a higher confidence level than an Initial Assessment.

Initial Assessment
An Initial Assessment is a preliminary technical and economic study of the economic potential of all or parts of mineralization to support the disclosure of mineral resources. The Initial Assessment must be prepared by a qualified person and must include appropriate assessments of reasonably assumed technical and economic factors, together with any other relevant operational factors, that are necessary to demonstrate at the time of reporting that there are reasonable prospects for economic extraction. An Initial Assessment is required for disclosure of mineral resources but cannot be used as the basis for disclosure of mineral reserves. An Initial Assessment is preliminary in nature and includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied that would enable them to be classified as mineral reserves. There is no certainty that the economic results of an initial assessment will be realized. The mineral resource estimates presented in the ABTC Tonopah Flats Initial Assessment were performed by third-party, qualified person RESPEC, LLC and were classified by geological and quantitative confidence in accordance with the Securities and Exchange Commission (SEC) Regulation S-K 1300.

Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are "forward-looking statements." Although the American Battery Technology Company's (the "Company") management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. Forward looking statements include, among other things, statements concerning: offtake agreements with customers; the Company’s future sales of products to customers, including the amounts, timing, and types of products included within those sales; potential loans, grants, and debt financing arrangements, including due diligence, the amount and type of debt, its syndication, and the schedule for closing; the scale of the battery recycling operations; the anticipated production from the integrated pilot facility; the scale, construction, and operation of the battery recycling operations, integrated pilot facility, Tonopah Flats Lithium Project, and commercial lithium mine and refinery; and the costs, schedules, production and economic projections associated with the foregoing. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. Potential risks and uncertainties include, among others, risks and uncertainties related to the Company’s ability to continue as a going concern; interpretations or reinterpretations of geologic information, unfavorable exploration results, inability to obtain permits required for future exploration, development or production, general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; fluctuating mineral and commodity prices, final investment approval and the ability to obtain necessary financing on acceptable terms or at all. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company's filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended June 30, 2026. The Company assumes no obligation to update any of the information contained or referenced in this press release.

American Battery Technology Company 
Media Contact: 
Tiffiany Moehring 
tmoehring@batterymetals.com 
720-254-1556 

AMERICAN BATTERY TECHNOLOGY COMPANY Consolidated Statements of Operations
		Three months ended September 30, 2026				Three months ended September 30, 2025
Revenue		$	1,713,289			$	937,589
Cost of goods sold			5,355,954				4,454,231
Gross profit (loss)			(3,642,665	)			(3,516,642	)
Expenses:
General and administrative		$	7,284,644			$	3,628,127
Research and development			3,630,975				2,697,639
Exploration costs			437,423				290,951
Total operating expenses			11,353,042				6,616,717
Net loss before other income (expense)			(14,995,707	)			(10,133,359	)
Other income (expense)
Interest income (expense)			371,830				(6,469	)
Amortization and accretion of financing costs			-				(307,428	)
Other income (expense), net			(101	)			147,690
Total other income (expense)			371,729				(166,207	)
Net loss		$	(14,623,978	)		$	(10,299,566	)
Net loss per share, basic and diluted		$	(0.10	)		$	(0.09	)
Weighted average shares outstanding			142,101,524				112,240,128

AMERICAN BATTERY TECHNOLOGY COMPANY Consolidated Balance Sheets
		September 30, 2026				June 30, 2026
ASSETS
Cash and cash equivalents		$	43,261,719			$	49,519,474
Accounts receivable			3,036,105				6,952,929
Inventory (Note 4)			2,823,375				584,763
Grants receivable (Note 5)			31,164				217,771
Other receivable			-				561,940
Prepaid expenses and other			1,939,293				2,296,785
Restricted cash			100,000				800,000
Total current assets			51,191,656				60,933,662
Property and equipment, net (Note 6)			57,672,990				57,294,191
Mining properties (Note 7)			10,019,655				9,819,655
Intangible assets (Note 8)			4,618,592				4,618,592
Right-of-use asset (Note 10)			142,972				173,609
Total assets		$	123,645,865			$	132,839,709
LIABILITIES & STOCKHOLDERS’ EQUITY
Accounts payable and accrued liabilities (Note 9)		$	6,075,318			$	6,263,435
Operating lease liability (Note 10)			135,339				131,287
Total current liabilities			6,210,657				6,394,722
Operating lease liability, long-term			23,785				58,876
Total liabilities			6,234,442				6,453,598
Total stockholders’ equity			117,411,423				126,386,111
Total liabilities and stockholders’ equity		$	123,645,865			$	132,839,709