American Battery Technology Reports $1.7 Million Q1 FY27 Revenue and $100 Million Export License

American Battery Technology Company reported $1.7 million in revenue for the first quarter of fiscal year 2027, an 83% increase from the same quarter a year earlier, according to GlobeNewswire. The company also held $43.4 million in cash and $0.0 million in debt at the close of the quarter on September 30, 2026.

How the Black Mass Export License Worked

American Battery Technology Company is a Nevada-based critical battery materials company that runs lithium-ion battery recycling, primary metals manufacturing and claystone-to-lithium extraction businesses. On August 6, 2026, the U.S. Department of Commerce's Bureau of Industry and Security issued a directive restricting the export of black mass from recycled battery materials effective August 27, 2026. Recycled black mass is the primary product from ABTC's Nevada recycling facility, and essentially all of it is exported for sale.

ABTC submitted an exception request for a license to continue exporting black mass through the roughly one-year restriction. The BIS issued that license on September 30, 2026, covering exports of up to $100 million of recycled black mass to strategic customers. The restriction led to a large accumulation of finished goods inventory during the quarter and limited sales and revenue recognition. After the period closed, ABTC restarted large-scale sale and export of the accumulated product along with black mass made in the second quarter 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," CEO Ryan Melsert said.

Cost of goods sold was $5.4 million, a 20% increase from the same quarter a year earlier, which the company attributed to operational efficiencies. Gross loss was $3.6 million, compared with $3.5 million a year earlier. The company also recorded $0.4 million in interest income for the quarter.

Tonopah Flats Permitting and Grant Reinstatement

During the quarter, ABTC received notice that its mine and refinery Plan of Operations for the Tonopah Flats Lithium Project near Tonopah, Nevada, was accepted by the U.S. Bureau of Land Management. The company also won its appeal and had full reinstatement of its $57 million competitive grant from the U.S. Department of Energy, supporting $115 million of construction for the first processing train at the project.

ABTC has initiated its Definitive Feasibility Study for Tonopah Flats, with recommendations published in its September 2025 Pre-Feasibility Study. The project is designed for production of 30,000 tonnes per year of lithium hydroxide monohydrate over a 45-year life-of-mine.

ABTC's Funding and Earlier Milestones

According to akta.pro company records, ABTC has 12 funding rounds on record, including a $115 million grant led by the U.S. Department of Energy in June 2026 and a $10 million post-IPO equity round in December 2024. The same records list total funding of $417.5 million and a valuation estimate of $250 million to $500 million.

In August 2026, ABTC reported its highest-ever gross profit of $1.3 million for the fourth quarter of fiscal year 2026, driven by operational efficiencies at its Nevada recycling facility, according to GlobeNewswire. In July 2026, the company won its appeal with the U.S. Department of Energy to have its $115 million grant reinstated for the Tonopah Flats refinery, Yahoo reported. In September 2026, the company said it was leading the largest lithium-ion battery cleanup in U.S. history, processing damaged modules from a California grid-scale system under EPA CERCLA approval, according to a company LinkedIn post.

What Comes Next for ABTC

ABTC said it has restarted large-scale sale and export of accumulated black mass product and is selling black mass produced in the second quarter to date. The company has also initiated its Definitive Feasibility Study for Tonopah Flats, the final phase of engineering and financial analysis required to move the project into commercial production.