American Battery Technology Co Reports Net Loss of $21.3 Million for the Year
Annual Revenue Reached $21.6 Million
AMERICAN BATTERY TECHNOLOGY Co [ABML], a leading player in the battery technology industry, has released its annual financial report for the year ended June 30, 2023. The company reported a net loss of $21.3 million during this period. Despite the challenging market conditions, American Battery Technology Co managed to achieve annual revenue of $21.6 million, showcasing its resilience and commitment to growth.
Financial Performance
The company's operating expenses amounted to $21.6 million, comprising of $11.6 million in general and administrative expenses, $7.7 million in research and development expenses, and $1.9 million in exploration costs. These expenses reflect the company's investment in innovation and its focus on developing cutting-edge battery technologies. Though an impairment of assets worth $0.2 million was incurred, it did not deter the company's efforts to drive growth.
