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Side-by-side financial comparison of AMERICAN BATTERY TECHNOLOGY Co (ABAT) and Alpha Cognition Inc. (ACOG). Click either name above to swap in a different company.
AMERICAN BATTERY TECHNOLOGY Co is the larger business by last-quarter revenue ($4.8M vs $2.8M, roughly 1.7× Alpha Cognition Inc.). AMERICAN BATTERY TECHNOLOGY Co runs the higher net margin — -195.0% vs -245.5%, a 50.5% gap on every dollar of revenue.
American Battery Technology Company, formerly American Battery Metals Corporation, is a US-based battery recycling technology startup founded in 2011. It employs a hydrometallurgical process to recycle batteries and a targeted extraction system to extract raw materials from primary resources.
ABAT vs ACOG — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.8M | $2.8M |
| Net Profit | $-9.3M | $-6.9M |
| Gross Margin | -33.6% | — |
| Operating Margin | -207.5% | -283.7% |
| Net Margin | -195.0% | -245.5% |
| Revenue YoY | 1331.8% | — |
| Net Profit YoY | 30.7% | — |
| EPS (diluted) | $-0.07 | $-0.10 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $4.8M | $2.8M | ||
| Q3 25 | $937.6K | $2.8M | ||
| Q2 25 | $2.8M | $1.7M | ||
| Q1 25 | $980.0K | $2.9M |
| Q4 25 | $-9.3M | $-6.9M | ||
| Q3 25 | $-10.3M | $-1.3M | ||
| Q2 25 | $-10.2M | $-10.5M | ||
| Q1 25 | $-11.5M | $-2.0M |
| Q4 25 | -33.6% | — | ||
| Q3 25 | -375.1% | — | ||
| Q2 25 | -92.6% | 96.7% | ||
| Q1 25 | -274.5% | 99.6% |
| Q4 25 | -207.5% | -283.7% | ||
| Q3 25 | -1080.8% | -187.0% | ||
| Q2 25 | -280.1% | -346.1% | ||
| Q1 25 | -1086.3% | -125.9% |
| Q4 25 | -195.0% | -245.5% | ||
| Q3 25 | -1098.5% | -46.4% | ||
| Q2 25 | -366.4% | -632.7% | ||
| Q1 25 | -1173.1% | -68.5% |
| Q4 25 | $-0.07 | $-0.10 | ||
| Q3 25 | $-0.09 | $-0.30 | ||
| Q2 25 | $-0.09 | $-0.65 | ||
| Q1 25 | $-0.14 | $-0.13 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $47.9M | $66.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $119.0M | $62.5M |
| Total Assets | $123.3M | $79.7M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $47.9M | $66.0M | ||
| Q3 25 | $30.9M | $35.4M | ||
| Q2 25 | $7.5M | $39.4M | ||
| Q1 25 | $7.8M | $45.5M |
| Q4 25 | $119.0M | $62.5M | ||
| Q3 25 | $96.0M | $33.9M | ||
| Q2 25 | $70.6M | $31.9M | ||
| Q1 25 | $65.6M | $40.8M |
| Q4 25 | $123.3M | $79.7M | ||
| Q3 25 | $101.5M | $46.3M | ||
| Q2 25 | $84.5M | $45.1M | ||
| Q1 25 | $76.5M | $48.6M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-9.8M | $-6.9M |
| Free Cash FlowOCF − Capex | — | $-7.1M |
| FCF MarginFCF / Revenue | — | -252.6% |
| Capex IntensityCapex / Revenue | — | 5.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-20.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-9.8M | $-6.9M | ||
| Q3 25 | $-7.1M | $-5.3M | ||
| Q2 25 | — | $-6.1M | ||
| Q1 25 | $-10.3M | $-2.0M |
| Q4 25 | — | $-7.1M | ||
| Q3 25 | — | $-5.4M | ||
| Q2 25 | — | $-6.1M | ||
| Q1 25 | — | $-2.1M |
| Q4 25 | — | -252.6% | ||
| Q3 25 | — | -188.8% | ||
| Q2 25 | — | -370.9% | ||
| Q1 25 | — | -72.0% |
| Q4 25 | — | 5.3% | ||
| Q3 25 | — | 2.6% | ||
| Q2 25 | — | 0.5% | ||
| Q1 25 | — | 2.2% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
