# NEO Battery Reports Quarterly Gross Loss as It Expands Manufacturing

The battery maker reported C$203,566 in quarterly revenue and outlined equipment and production plans in South Korea.

By Will Langan | 24X7 News
Published: 2026-10-30T01:07:20.035Z
Updated: 2026-10-30T01:07:20.035Z
Section: Technology
Format: News
Canonical: https://24x7news.us/articles/neo-battery-quarterly-results-october-29-2026

NEO Battery Materials reported October 29 that revenue for its fiscal second quarter ended August 31 was C$203,566, while its gross loss was C$807,492.

For the six-month period, the company reported revenue of C$382,530 and a gross loss of C$1,450,753. Cash at August 31 was C$2,062,498. The figures are in Canadian dollars.

NEO said its margins reflected early commercial production and manufacturing expansion, with volumes insufficient to absorb its fixed costs. Its expectation that higher output will narrow that gap is a forecast.

The company said electrical upgrades and dry-room construction were underway at an expansion site beside its first South Korean factory. Some pilot equipment for cylindrical cells had been installed, with remaining deliveries expected by mid-November and full commissioning targeted by year-end.

NEO also said its qualified sales pipeline had grown to more than 50 leads. It cautioned that leads and manufacturing discussions may not become definitive orders.

Sources:
NEO Battery October 29 results announcement: https://www.tradingview.com/news/prnewswire:8ebb75ee051fe:0-neo-battery-reports-fiscal-year-2027-second-quarter-results/

## Sources
- NEO Battery October 29 results announcement via CNW: https://www.tradingview.com/news/prnewswire:8ebb75ee051fe:0-neo-battery-reports-fiscal-year-2027-second-quarter-results/