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Side-by-side financial comparison of AMERICAN BATTERY TECHNOLOGY Co (ABAT) and QT IMAGING HOLDINGS, INC. (QTI). Click either name above to swap in a different company.
QT IMAGING HOLDINGS, INC. is the larger business by last-quarter revenue ($8.3M vs $4.8M, roughly 1.7× AMERICAN BATTERY TECHNOLOGY Co). QT IMAGING HOLDINGS, INC. runs the higher net margin — -16.8% vs -195.0%, a 178.2% gap on every dollar of revenue. On growth, AMERICAN BATTERY TECHNOLOGY Co posted the faster year-over-year revenue change (1331.8% vs 877.2%).
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.
QT Imaging Holdings, Inc. is a medical technology company that designs, manufactures and commercializes non-invasive medical imaging systems primarily for breast health diagnostics. It serves healthcare providers, clinics and medical institutions across key markets including North America, Europe and Asia-Pacific, focusing on improving the accuracy and accessibility of diagnostic imaging for patients.
ABAT vs QTI — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.8M | $8.3M |
| Net Profit | $-9.3M | $-1.4M |
| Gross Margin | -33.6% | 38.0% |
| Operating Margin | -207.5% | -8.5% |
| Net Margin | -195.0% | -16.8% |
| Revenue YoY | 1331.8% | 877.2% |
| Net Profit YoY | 30.7% | 60.2% |
| EPS (diluted) | $-0.07 | $-1.00 |
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 | $8.3M | ||
| Q3 25 | $937.6K | $4.2M | ||
| Q2 25 | $2.8M | $3.7M | ||
| Q1 25 | $980.0K | $2.8M | ||
| Q2 24 | — | $1.7M | ||
| Q1 24 | — | $1.4M |
| Q4 25 | $-9.3M | $-1.4M | ||
| Q3 25 | $-10.3M | $-4.6M | ||
| Q2 25 | $-10.2M | $-4.0M | ||
| Q1 25 | $-11.5M | $-11.1M | ||
| Q2 24 | — | $-1.2M | ||
| Q1 24 | — | $-628.6K |
| Q4 25 | -33.6% | 38.0% | ||
| Q3 25 | -375.1% | 43.0% | ||
| Q2 25 | -92.6% | 49.9% | ||
| Q1 25 | -274.5% | 64.7% | ||
| Q2 24 | — | 51.0% | ||
| Q1 24 | — | 55.8% |
| Q4 25 | -207.5% | -8.5% | ||
| Q3 25 | -1080.8% | -39.4% | ||
| Q2 25 | -280.1% | -28.5% | ||
| Q1 25 | -1086.3% | -37.2% | ||
| Q2 24 | — | -129.5% | ||
| Q1 24 | — | -409.5% |
| Q4 25 | -195.0% | -16.8% | ||
| Q3 25 | -1098.5% | -108.7% | ||
| Q2 25 | -366.4% | -109.3% | ||
| Q1 25 | -1173.1% | -397.9% | ||
| Q2 24 | — | -72.9% | ||
| Q1 24 | — | -46.1% |
| Q4 25 | $-0.07 | $-1.00 | ||
| Q3 25 | $-0.09 | $-0.47 | ||
| Q2 25 | $-0.09 | $-0.14 | ||
| Q1 25 | $-0.14 | $-0.40 | ||
| Q2 24 | — | $-0.30 | ||
| Q1 24 | — | $-0.05 |
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 | $10.4M |
| Total DebtLower is stronger | — | $10.1M |
| Stockholders' EquityBook value | $119.0M | $6.4M |
| Total Assets | $123.3M | $23.0M |
| Debt / EquityLower = less leverage | — | 1.57× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $47.9M | $10.4M | ||
| Q3 25 | $30.9M | — | ||
| Q2 25 | $7.5M | — | ||
| Q1 25 | $7.8M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $10.1M | ||
| Q3 25 | — | $15.1M | ||
| Q2 25 | — | $10.1M | ||
| Q1 25 | — | $10.2M | ||
| Q2 24 | — | $11.7M | ||
| Q1 24 | — | $11.7M |
| Q4 25 | $119.0M | $6.4M | ||
| Q3 25 | $96.0M | $-9.1M | ||
| Q2 25 | $70.6M | $-324.3K | ||
| Q1 25 | $65.6M | $-20.2M | ||
| Q2 24 | — | $-6.2M | ||
| Q1 24 | — | $-4.9M |
| Q4 25 | $123.3M | $23.0M | ||
| Q3 25 | $101.5M | $12.1M | ||
| Q2 25 | $84.5M | $11.6M | ||
| Q1 25 | $76.5M | $10.9M | ||
| Q2 24 | — | $10.8M | ||
| Q1 24 | — | $12.9M |
| Q4 25 | — | 1.57× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $-3.1M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-9.8M | $-3.1M | ||
| Q3 25 | $-7.1M | $-878.8K | ||
| Q2 25 | — | $-1.4M | ||
| Q1 25 | $-10.3M | $-3.5M | ||
| Q2 24 | — | $-979.6K | ||
| Q1 24 | — | $-6.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.0% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
