vs
Side-by-side financial comparison of AMERICAN BATTERY TECHNOLOGY Co (ABAT) and Solana Co (HSDT). Click either name above to swap in a different company.
Solana Co is the larger business by last-quarter revenue ($5.2M vs $4.8M, roughly 1.1× AMERICAN BATTERY TECHNOLOGY Co). Solana Co runs the higher net margin — 6227.1% vs -195.0%, a 6422.1% gap on every dollar of revenue. On growth, Solana Co posted the faster year-over-year revenue change (2725.9% vs 1331.8%).
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.
Solana is a Mexican cottage manufacturer of sports, racing, and kids' automobiles based in Mexico City. The family run company has operated since 1936, with a total production of fewer than fifty cars; the majority of them one-offs. The family is heavily involved in motor sports; the most prominent member was Moisés Solana, who raced family-built cars and later in Formula One.
ABAT vs HSDT — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.8M | $5.2M |
| Net Profit | $-9.3M | $325.6M |
| Gross Margin | -33.6% | 96.6% |
| Operating Margin | -207.5% | -3845.8% |
| Net Margin | -195.0% | 6227.1% |
| Revenue YoY | 1331.8% | 2725.9% |
| Net Profit YoY | 30.7% | 8388.0% |
| EPS (diluted) | $-0.07 | $111.28 |
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 | $5.2M | ||
| Q3 25 | $937.6K | $697.0K | ||
| Q2 25 | $2.8M | $43.0K | ||
| Q1 25 | $980.0K | $49.0K | ||
| Q4 24 | — | $185.0K | ||
| Q3 24 | — | $51.0K | ||
| Q2 24 | — | $182.0K | ||
| Q1 24 | — | $135.0K |
| Q4 25 | $-9.3M | $325.6M | ||
| Q3 25 | $-10.3M | $-352.8M | ||
| Q2 25 | $-10.2M | $-9.8M | ||
| Q1 25 | $-11.5M | $-3.8M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-3.7M | ||
| Q2 24 | — | $-1.6M | ||
| Q1 24 | — | $-2.5M |
| Q4 25 | -33.6% | 96.6% | ||
| Q3 25 | -375.1% | 85.2% | ||
| Q2 25 | -92.6% | — | ||
| Q1 25 | -274.5% | — | ||
| Q4 24 | — | 16.8% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 35.2% | ||
| Q1 24 | — | 8.9% |
| Q4 25 | -207.5% | -3845.8% | ||
| Q3 25 | -1080.8% | -5086.1% | ||
| Q2 25 | -280.1% | -7725.6% | ||
| Q1 25 | -1086.3% | -8185.7% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -7980.4% | ||
| Q2 24 | — | -1796.7% | ||
| Q1 24 | — | -2530.4% |
| Q4 25 | -195.0% | 6227.1% | ||
| Q3 25 | -1098.5% | -50612.3% | ||
| Q2 25 | -366.4% | -22867.4% | ||
| Q1 25 | -1173.1% | -7832.7% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -7227.5% | ||
| Q2 24 | — | -885.7% | ||
| Q1 24 | — | -1863.7% |
| Q4 25 | $-0.07 | $111.28 | ||
| Q3 25 | $-0.09 | $-32.89 | ||
| Q2 25 | $-0.09 | $-79.73 | ||
| Q1 25 | $-0.14 | $-0.51 | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-744.35 | ||
| Q2 24 | — | $-485.30 | ||
| Q1 24 | — | $-3.08 |
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 | $7.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $119.0M | $300.9M |
| Total Assets | $123.3M | $303.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $47.9M | $7.3M | ||
| Q3 25 | $30.9M | $124.1M | ||
| Q2 25 | $7.5M | $6.1M | ||
| Q1 25 | $7.8M | $1.1M | ||
| Q4 24 | — | $1.1M | ||
| Q3 24 | — | $3.5M | ||
| Q2 24 | — | $6.4M | ||
| Q1 24 | — | $3.6M |
| Q4 25 | $119.0M | $300.9M | ||
| Q3 25 | $96.0M | $-152.4M | ||
| Q2 25 | $70.6M | $6.0M | ||
| Q1 25 | $65.6M | $1.3M | ||
| Q4 24 | — | $1.1M | ||
| Q3 24 | — | $3.8M | ||
| Q2 24 | — | $6.3M | ||
| Q1 24 | — | $2.0M |
| Q4 25 | $123.3M | $303.9M | ||
| Q3 25 | $101.5M | $475.9M | ||
| Q2 25 | $84.5M | $7.9M | ||
| Q1 25 | $76.5M | $3.5M | ||
| Q4 24 | — | $3.5M | ||
| Q3 24 | — | $5.6M | ||
| Q2 24 | — | $8.8M | ||
| Q1 24 | — | $5.8M |
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 | $-16.5M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | -0.05× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-9.8M | $-16.5M | ||
| Q3 25 | $-7.1M | $-4.0M | ||
| Q2 25 | — | $-2.8M | ||
| Q1 25 | $-10.3M | $-3.5M | ||
| Q4 24 | — | $-11.0M | ||
| Q3 24 | — | $-2.8M | ||
| Q2 24 | — | $-2.9M | ||
| Q1 24 | — | $-3.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $-11.0M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $-3.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -5970.8% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -2226.7% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 2.7% | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | — | 0.0% | ||
| Q1 24 | — | 3.7% |
| Q4 25 | — | -0.05× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
