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Side-by-side financial comparison of AMERICAN BATTERY TECHNOLOGY Co (ABAT) and SES AI Corp (SES). 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 $4.6M, roughly 1.0× SES AI Corp). AMERICAN BATTERY TECHNOLOGY Co runs the higher net margin — -195.0% vs -373.5%, a 178.5% 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.
SES S.A. is a Luxembourgish communications satellite operator supplying video and data connectivity worldwide to broadcasters, content and internet service providers, mobile and fixed network operators, governments and institutions.
ABAT vs SES — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.8M | $4.6M |
| Net Profit | $-9.3M | $-17.0M |
| Gross Margin | -33.6% | 11.3% |
| Operating Margin | -207.5% | -387.7% |
| Net Margin | -195.0% | -373.5% |
| Revenue YoY | 1331.8% | — |
| Net Profit YoY | 30.7% | 50.7% |
| EPS (diluted) | $-0.07 | $-0.05 |
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 | $4.6M | ||
| Q3 25 | $937.6K | $7.1M | ||
| Q2 25 | $2.8M | $3.5M | ||
| Q1 25 | $980.0K | $5.8M |
| Q4 25 | $-9.3M | $-17.0M | ||
| Q3 25 | $-10.3M | $-20.9M | ||
| Q2 25 | $-10.2M | $-22.7M | ||
| Q1 25 | $-11.5M | $-12.4M |
| Q4 25 | -33.6% | 11.3% | ||
| Q3 25 | -375.1% | 51.1% | ||
| Q2 25 | -92.6% | 73.7% | ||
| Q1 25 | -274.5% | 78.7% |
| Q4 25 | -207.5% | -387.7% | ||
| Q3 25 | -1080.8% | -262.0% | ||
| Q2 25 | -280.1% | -652.3% | ||
| Q1 25 | -1086.3% | -401.7% |
| Q4 25 | -195.0% | -373.5% | ||
| Q3 25 | -1098.5% | -293.9% | ||
| Q2 25 | -366.4% | -642.2% | ||
| Q1 25 | -1173.1% | -214.6% |
| Q4 25 | $-0.07 | $-0.05 | ||
| Q3 25 | $-0.09 | $-0.06 | ||
| Q2 25 | $-0.09 | $-0.07 | ||
| Q1 25 | $-0.14 | $-0.04 |
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 | $29.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $119.0M | $214.8M |
| Total Assets | $123.3M | $272.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $47.9M | $29.5M | ||
| Q3 25 | $30.9M | $35.3M | ||
| Q2 25 | $7.5M | $11.8M | ||
| Q1 25 | $7.8M | $56.1M |
| Q4 25 | $119.0M | $214.8M | ||
| Q3 25 | $96.0M | $228.2M | ||
| Q2 25 | $70.6M | $249.2M | ||
| Q1 25 | $65.6M | $269.9M |
| Q4 25 | $123.3M | $272.6M | ||
| Q3 25 | $101.5M | $288.8M | ||
| Q2 25 | $84.5M | $290.5M | ||
| Q1 25 | $76.5M | $306.0M |
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 | $-10.4M |
| Free Cash FlowOCF − Capex | — | $-11.1M |
| FCF MarginFCF / Revenue | — | -243.7% |
| Capex IntensityCapex / Revenue | — | 15.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-61.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-9.8M | $-10.4M | ||
| Q3 25 | $-7.1M | $-14.3M | ||
| Q2 25 | — | $-10.8M | ||
| Q1 25 | $-10.3M | $-22.8M |
| Q4 25 | — | $-11.1M | ||
| Q3 25 | — | $-14.7M | ||
| Q2 25 | — | $-11.6M | ||
| Q1 25 | — | $-23.7M |
| Q4 25 | — | -243.7% | ||
| Q3 25 | — | -206.9% | ||
| Q2 25 | — | -329.6% | ||
| Q1 25 | — | -410.0% |
| Q4 25 | — | 15.6% | ||
| Q3 25 | — | 6.0% | ||
| Q2 25 | — | 22.8% | ||
| Q1 25 | — | 15.8% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
