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Side-by-side financial comparison of AMERICAN BATTERY TECHNOLOGY Co (ABAT) and Scilex Holding Co (SCLX). Click either name above to swap in a different company.
Scilex Holding Co is the larger business by last-quarter revenue ($4.8M vs $4.8M, roughly 1.0× AMERICAN BATTERY TECHNOLOGY Co). AMERICAN BATTERY TECHNOLOGY Co runs the higher net margin — -195.0% vs -961.9%, a 766.9% gap on every dollar of revenue. On growth, AMERICAN BATTERY TECHNOLOGY Co posted the faster year-over-year revenue change (1331.8% vs -67.8%).
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.
Scilex Holding Co is a commercial-stage biopharmaceutical firm focused on developing and commercializing innovative non-opioid pain management therapies for acute and chronic pain segments. It primarily serves the US market, offering prescription and over-the-counter pain relief solutions for patients and healthcare providers.
ABAT vs SCLX — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.8M | $4.8M |
| Net Profit | $-9.3M | $-46.1M |
| Gross Margin | -33.6% | 45.5% |
| Operating Margin | -207.5% | -2317.8% |
| Net Margin | -195.0% | -961.9% |
| Revenue YoY | 1331.8% | -67.8% |
| Net Profit YoY | 30.7% | -613.7% |
| EPS (diluted) | $-0.07 | $-4.63 |
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 | $4.8M | ||
| Q3 25 | $937.6K | $10.6M | ||
| Q2 25 | $2.8M | $9.9M | ||
| Q1 25 | $980.0K | $5.0M | ||
| Q4 24 | — | $14.9M | ||
| Q3 24 | — | $14.4M | ||
| Q2 24 | — | $16.4M | ||
| Q1 24 | — | $10.9M |
| Q4 25 | $-9.3M | $-46.1M | ||
| Q3 25 | $-10.3M | $-257.8M | ||
| Q2 25 | $-10.2M | $-44.0M | ||
| Q1 25 | $-11.5M | $-26.1M | ||
| Q4 24 | — | $-6.5M | ||
| Q3 24 | — | $-4.4M | ||
| Q2 24 | — | $-37.6M | ||
| Q1 24 | — | $-24.4M |
| Q4 25 | -33.6% | 45.5% | ||
| Q3 25 | -375.1% | 68.5% | ||
| Q2 25 | -92.6% | 66.9% | ||
| Q1 25 | -274.5% | 72.3% | ||
| Q4 24 | — | 68.5% | ||
| Q3 24 | — | 73.9% | ||
| Q2 24 | — | 73.2% | ||
| Q1 24 | — | 64.7% |
| Q4 25 | -207.5% | -2317.8% | ||
| Q3 25 | -1080.8% | -1766.2% | ||
| Q2 25 | -280.1% | -207.2% | ||
| Q1 25 | -1086.3% | -557.5% | ||
| Q4 24 | — | -190.5% | ||
| Q3 24 | — | -138.0% | ||
| Q2 24 | — | -95.4% | ||
| Q1 24 | — | -179.0% |
| Q4 25 | -195.0% | -961.9% | ||
| Q3 25 | -1098.5% | -2441.5% | ||
| Q2 25 | -366.4% | -445.1% | ||
| Q1 25 | -1173.1% | -521.2% | ||
| Q4 24 | — | -43.4% | ||
| Q3 24 | — | -30.4% | ||
| Q2 24 | — | -229.6% | ||
| Q1 24 | — | -224.0% |
| Q4 25 | $-0.07 | $-4.63 | ||
| Q3 25 | $-0.09 | $-22.17 | ||
| Q2 25 | $-0.09 | $-7.42 | ||
| Q1 25 | $-0.14 | $-2.26 | ||
| Q4 24 | — | $8.53 | ||
| Q3 24 | — | $-0.58 | ||
| Q2 24 | — | $-7.67 | ||
| Q1 24 | — | $-8.33 |
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 | $5.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $119.0M | $-207.8M |
| Total Assets | $123.3M | $365.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $47.9M | $5.0M | ||
| Q3 25 | $30.9M | $878.0K | ||
| Q2 25 | $7.5M | $4.1M | ||
| Q1 25 | $7.8M | $5.8M | ||
| Q4 24 | — | $3.3M | ||
| Q3 24 | — | $77.0K | ||
| Q2 24 | — | $6.9M | ||
| Q1 24 | — | $1.8M |
| Q4 25 | $119.0M | $-207.8M | ||
| Q3 25 | $96.0M | $-176.9M | ||
| Q2 25 | $70.6M | $-249.0M | ||
| Q1 25 | $65.6M | $-211.5M | ||
| Q4 24 | — | $-192.6M | ||
| Q3 24 | — | $-211.3M | ||
| Q2 24 | — | $-214.7M | ||
| Q1 24 | — | $-189.8M |
| Q4 25 | $123.3M | $365.0M | ||
| Q3 25 | $101.5M | $275.9M | ||
| Q2 25 | $84.5M | $83.8M | ||
| Q1 25 | $76.5M | $79.0M | ||
| Q4 24 | — | $93.0M | ||
| Q3 24 | — | $100.4M | ||
| Q2 24 | — | $104.5M | ||
| Q1 24 | — | $91.2M |
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 | $-17.5M |
| 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 | $-17.5M | ||
| Q3 25 | $-7.1M | $8.2M | ||
| Q2 25 | — | $7.0M | ||
| Q1 25 | $-10.3M | $6.0M | ||
| Q4 24 | — | $2.5M | ||
| Q3 24 | — | $5.1M | ||
| Q2 24 | — | $2.3M | ||
| Q1 24 | — | $9.4M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
