NEO Battery Reports Fiscal Year 2027 Second Quarter Results
Key Highlights
- ➤Q2 revenue $203,566, while gross loss reached $807,492
- ➤Cash balance $2,062,498 after $4,000,000 LIFE Offering closed August 14, 2026
- ➤Fortune 500 automotive OEM purchase order valued at approximately $392,000
- ➤ROK Army placed its first direct order for military-grade drone battery packs
- ➤Cylindrical 21700 expansion targets 10,000 to 18,000 cells monthly by end-2026
Expert Statements
Spencer Huh, President and CEO of NEO Battery Materials Ltd.
“The second quarter marked a continued increase in our pipeline with qualified leads, and now, we are converting the pipeline into active customers.”
Spencer Huh, President and CEO of NEO Battery Materials Ltd.
“Since reporting the first quarter, we received our first direct order from the Republic of Korea Army, our largest foundry contract to date from a Fortune 500 automotive OEM, and a development contract from a South Korean defense prime.”
Spencer Huh, President and CEO of NEO Battery Materials Ltd.
“Outside Korea, we have established direct inroads into Ukraine for battery development and are serving key U.S. battery and defense players that can potentially translate into concrete commercial contracts.”
Spencer Huh, President and CEO of NEO Battery Materials Ltd.
“Each came to NEO for the same two reasons: battery performance their current suppliers cannot deliver, and a secure, non-Chinese supply source.”
Spencer Huh, President and CEO of NEO Battery Materials Ltd.
“With certified products and validated manufacturing, our priority is scaling production to meet this demand.”
Spencer Huh, President and CEO of NEO Battery Materials Ltd.
“As we do so, we will continue to evaluate partnerships and other opportunities that strengthen our position as a secure, high-performance battery supplier to Western and allied customers.”
Spencer Huh, President and CEO of NEO Battery Materials Ltd.
“We are steadily proving out our foundry capability with tier-1 customers while expanding capacity to service contract manufacturing demand in the coming year.”
Spencer Huh, President and CEO of NEO Battery Materials Ltd.
“Our flexible manufacturing model has broadened the pipeline across applications and chemistries, and our objective is to convert sample evaluations into larger, long-term orders.”
Spencer Huh, President and CEO of NEO Battery Materials Ltd.
“The expansion facility is what allows us to fulfill them.”
NEO Battery Reports Fiscal Year 2027 Second Quarter Results PR Newswire
TORONTO, Oct. 29, 2026 /PRNewswire/ -- NEO Battery Materials Ltd. ("NEO" or the "Company") (TSXV: NBM) (OTC: NBMFF), a low-cost, silicon-enhanced battery manufacturer enabling high-performance capabilities for drones, robotics, and physical AI, today announced its financial and operational results for the second quarter ended August 31, 2026, and provided an update on its facility expansion, commercial pipeline, and growth initiatives. All amounts are in Canadian dollars unless otherwise specified.
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