International Battery Metals Ltd. Reports Third Quarter Fiscal Year 2026 Financial Results

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Over the past several months, we have focused on where the lithium market is, what customers actually need and how IBAT fits into that supply framework. Demand for lithium continues to grow, governments are prioritizing secure supply chains, and resource owners are becoming more disciplined in how they move projects forward. In that environment, technology alone is not enough. Customers want reliable partners who can deliver efficient solutions and partner with them for the long term.”Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.“Our modular DLE (MDLE) plant has already operated in the field, and that experience is a differentiator for IBAT. We understand what works, what needs refinement and how to engineer the next deployment more efficiently. At the same time, we are being thoughtful about how we structure our commercial agreements. We are evaluating licensing, cost-plus deployments and strategic participation models that position us for long-term value creation. Our goal is straightforward. Secure commercial deployments, execute with discipline and build IBAT into a durable partner in the evolving lithium supply chain.”Management remains focused on securing one or more commercial deployments aligned with its overall commercial strategy.The Company will host a conference call tomorrow, Thursday, February 26, 2026, at 11:00 a.m. Eastern Time to discuss financial and operational results.Thursday, February 26, at 11:00 a.m. Eastern Time(800) 715-9871+1 (646) 307-19638716727Participants visit the addressand enter their details. The system will dial out to them and connect them into the conference. They do not need to pre-register for this service.+1 (800) 770-2030+1(609) 800-99098716727Replay will expire on Thursday, March 12, 2026, 11:59 p.m. Central Time.International Battery Metals Ltd. is a direct lithium extraction technology company focused on advancing the development of lithium from brine resources. The Company delivers a proprietary DLE process through a modular plant design and architecture built around its media and column systems. Depending on customer requirements, IBAT integrates its DLE process into existing customer flowsheets or specifications or delivers a full flowsheet solution using its proprietary DLE design in conjunction with strategic partnerships. With operational field deployment experience, International Battery Metals is positioned to support the next phase of lithium project development as global battery demand continues to expand. The Company is headquartered in Houston, Texas.This press release and our earning call include information regarding the Company’s future financial and operational performance and plans, targets, aspirations, expectations, and objectives of management, constitute forward-looking statements within the meaning of the Section 21E of the Exchange Act and forward-looking information within the meaning of Canadian provincial and territorial securities laws. We refer to all of these as forward-looking statements. Forward-looking statements are forward-looking in nature and, accordingly, are subject to risks and uncertainties. All statements other than statements of historical fact included in this quarterly report regarding the prospects of the Company’s industry or its prospects, plans, financial position or business strategy may constitute forward-looking statements. In addition, forward-looking statements generally can be identified by the use of forward-looking words such as “plans,” “expects,” “does not expect,” “is expected,” “look forward to,” “budget,” “scheduled,” “estimates,” “forecasts,” “will continue,” “intends,” “the intent of,” “have the potential,” “anticipates,” “does not anticipate,” “believes,” “should,” “should not,” or variations of such words and phrases that indicate that certain actions, events or results “may,” “could,” “would,” “might,” “will,” “be taken,” “occur,” “be achieved,” or the negative of these terms or variations of them or similar terms and include, without limitation, statements regarding our expectations or beliefs regarding:Our forward-looking statements, included in this quarterly report and elsewhere, represent management’s expectations as of the date that they are made, and we undertake no obligation to update these statements. Our forward-looking statements are based on assumptions and analyses made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors it believes are appropriate in the circumstances. However, these forward-looking statements are subject to a number of risks and uncertainties, and actual results may differ materially from those expressed or implied in such statements. Important factors that could cause actual results, level of activity, performance or achievements to differ materially from those expressed or implied by these forward-looking statements include those risks set forth in our SEC filings and risks related to:International Battery Metals Ltd.Condensed Consolidated Balance SheetsAs of December 31, 2025 and March 31, 2025(In thousands)December 31,March 31,20252025(Unaudited)ASSETSCurrent assetsCash$9,129$10,737Accounts receivable474459Inventory1,0611,061Other current assets303273Total current assets10,96712,530Plant and Equipment, net27,34628,450Intangible assets, net2,4593,266Right of use asset164232Total assets$40,936$44,478Current liabilitiesAccounts payable$798$1,293Accrued liabilities503533Obligation to issue shares, related party–679Lease obligation, current9789Total current liabilities1,3982,594Warrant liability6,08415,151Lease obligation, long-term70143Total liabilities7,55217,888Commitments and contingenciesShareholders’ equityShare capital, no par, 316,573 and 268,993 common shares issued and outstanding, respectively, as of December 31, 2025 and March 31, 202567,53066,156Accumulated deficit(34,146)(39,566)Total shareholders’ equity33,38426,590Total liabilities and shareholders’ equity$40,936$44,478International Battery Metals Ltd.Condensed Consolidated Statements of Income (Loss)(Unaudited)For the Three and Nine Months Ended December 31, 2025 and 2024(In thousands, except per share amounts)Three Months Ended December 31,Nine Months Ended December 31,2025202420252024REVENUEService$30$–$101$–Reimbursable–(4)–881Total Revenue30(4)101881COST OF REVENUE22–34–GROSS MARGIN8(4)67881OPERATING COSTS AND EXPENSESOperating costs, excluding depreciation4504681,5592,543Selling, general and administrative expenses, excluding depreciation1,8002,0976,2746,725Reimbursable expenses–(4)–881Amortization of intangible assets269269807807Depreciation5034991,5051,057Operating loss(3,014)(3,333)(10,078)(11,132)Excess fair value of warrants over private placement proceeds–––(659)Loss on warrants modification––(2,444)–Change in fair value of warrant liability3,768(7,576)17,9397,945Other income––3–Net income (loss) before income tax provision754(10,909)5,420(3,846)Net income (loss)$754$(10,909)$5,420$(3,846)Net income (loss) and comprehensive (loss) income per share, basic$0.00$(0.04)$0.02$(0.02)Net income (loss) and comprehensive income (loss) per share, diluted$0.00$(0.04)$0.02$(0.02)Weighted average shares outstanding, basic306,233242,908288,150236,966Weighted average shares outstanding, diluted310,685242,908290,337236,966 https://www.businesswire.com/news/home/20260225569329/en/ContactsBrian Siegel, IRC, MBASenior Managing DirectorHayden IR(346) 396-8696#distroPostmedia is committed to maintaining a lively but civil forum for discussion. 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