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Side-by-side financial comparison of AMERICAN BATTERY TECHNOLOGY Co (ABAT) and Relay Therapeutics, Inc. (RLAY). Click either name above to swap in a different company.
Relay Therapeutics, Inc. is the larger business by last-quarter revenue ($7.0M vs $4.8M, roughly 1.5× AMERICAN BATTERY TECHNOLOGY Co).
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.
Relay Therapeutics is a clinical-stage biotechnology company focused on developing precision oncology therapies. It leverages advanced computational modeling of protein dynamics, paired with cutting-edge experimental biology, to design targeted medicines for previously intractable cancer types, serving global oncology care markets and patient populations.
ABAT vs RLAY — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.8M | $7.0M |
| Net Profit | $-9.3M | — |
| Gross Margin | -33.6% | — |
| Operating Margin | -207.5% | — |
| Net Margin | -195.0% | — |
| Revenue YoY | 1331.8% | — |
| Net Profit YoY | 30.7% | — |
| EPS (diluted) | $-0.07 | — |
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 | $7.0M | ||
| Q3 25 | $937.6K | $0 | ||
| Q2 25 | $2.8M | — | ||
| Q1 25 | $980.0K | $7.7M | ||
| Q4 24 | — | $0 | ||
| Q3 24 | — | $0 | ||
| Q2 24 | — | $0 | ||
| Q1 24 | — | $10.0M |
| Q4 25 | $-9.3M | — | ||
| Q3 25 | $-10.3M | $-74.1M | ||
| Q2 25 | $-10.2M | — | ||
| Q1 25 | $-11.5M | $-77.1M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-88.1M | ||
| Q2 24 | — | $-92.2M | ||
| Q1 24 | — | $-81.4M |
| Q4 25 | -33.6% | — | ||
| Q3 25 | -375.1% | — | ||
| Q2 25 | -92.6% | — | ||
| Q1 25 | -274.5% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -207.5% | — | ||
| Q3 25 | -1080.8% | — | ||
| Q2 25 | -280.1% | — | ||
| Q1 25 | -1086.3% | -1105.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -903.0% |
| Q4 25 | -195.0% | — | ||
| Q3 25 | -1098.5% | — | ||
| Q2 25 | -366.4% | — | ||
| Q1 25 | -1173.1% | -1003.6% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -813.3% |
| Q4 25 | $-0.07 | — | ||
| Q3 25 | $-0.09 | $-0.43 | ||
| Q2 25 | $-0.09 | — | ||
| Q1 25 | $-0.14 | $-0.46 | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-0.63 | ||
| Q2 24 | — | $-0.69 | ||
| Q1 24 | — | $-0.62 |
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 | $84.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $119.0M | $567.1M |
| Total Assets | $123.3M | $621.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $47.9M | $84.0M | ||
| Q3 25 | $30.9M | $91.6M | ||
| Q2 25 | $7.5M | — | ||
| Q1 25 | $7.8M | $93.5M | ||
| Q4 24 | — | $124.3M | ||
| Q3 24 | — | $152.4M | ||
| Q2 24 | — | $134.1M | ||
| Q1 24 | — | $152.9M |
| Q4 25 | $119.0M | $567.1M | ||
| Q3 25 | $96.0M | $607.7M | ||
| Q2 25 | $70.6M | — | ||
| Q1 25 | $65.6M | $721.1M | ||
| Q4 24 | — | $777.8M | ||
| Q3 24 | — | $838.9M | ||
| Q2 24 | — | $681.7M | ||
| Q1 24 | — | $745.8M |
| Q4 25 | $123.3M | $621.3M | ||
| Q3 25 | $101.5M | $670.0M | ||
| Q2 25 | $84.5M | — | ||
| Q1 25 | $76.5M | $799.4M | ||
| Q4 24 | — | $871.3M | ||
| Q3 24 | — | $930.1M | ||
| Q2 24 | — | $772.5M | ||
| Q1 24 | — | $841.4M |
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 | $-235.5M |
| Free Cash FlowOCF − Capex | — | $-235.9M |
| FCF MarginFCF / Revenue | — | -3370.0% |
| Capex IntensityCapex / Revenue | — | 5.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-622.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-9.8M | $-235.5M | ||
| Q3 25 | $-7.1M | $-62.1M | ||
| Q2 25 | — | — | ||
| Q1 25 | $-10.3M | $-73.2M | ||
| Q4 24 | — | $-249.1M | ||
| Q3 24 | — | $-75.1M | ||
| Q2 24 | — | $-65.8M | ||
| Q1 24 | — | $-50.3M |
| Q4 25 | — | $-235.9M | ||
| Q3 25 | — | $-62.1M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $-73.6M | ||
| Q4 24 | — | $-251.1M | ||
| Q3 24 | — | $-75.3M | ||
| Q2 24 | — | $-65.8M | ||
| Q1 24 | — | $-52.1M |
| Q4 25 | — | -3370.0% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -958.4% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -520.7% |
| Q4 25 | — | 5.9% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 5.0% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 17.8% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
