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TORONTO – October 30, 2026 -- NEO Battery Materials (TSXV: NBM) reported second-quarter revenue of $203,566 against a gross loss of $807,492 for the period ended August 31, 2026, as the drone and defense battery maker builds out a South Korean cell plant ahead of expected higher-volume orders. All figures are in Canadian dollars unless noted.

Six-month gross loss reaches $1.45 million as fixed costs outpace volume

Revenue for the six months ended August 31 was $382,530, with a gross loss of $1,450,753. NEO attributes the negative margins to early-stage commercial production at its cell manufacturing expansion facility, where volumes are not yet high enough to absorb the fixed cost base. The company expects the gap to narrow as output rises.