USA Rare Earth financials
$14.08−2.36%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Quarter | Q2 '26 Jun 30 | Q1 '26 Mar 31 | Q4 '25 Dec 31 | Q3 '25 Sep 30 | Q2 '25 Jun 30 | Q1 '25 Mar 31 |
|---|---|---|---|---|---|---|
| Revenue | $5.8M | $5.7M | $1.6M | $0.00 | $0.00 | $0.00 |
| Gross profit | -$1.6M | $106.0K | $195.0K | $0.00 | $0.00 | $0.00 |
| Gross margin | −27.2% | 1.9% | 11.9% | — | — | — |
| Operating income | -$46.3M | -$36.7M | -$26.1M | -$15.9M | -$8.8M | -$8.7M |
| Net income | -$11.1M | -$67.7M | -$54.1M | -$168.0M | -$142.5M | $48.3M |
| Net margin | −190.0% | −1188.1% | −3292.7% | — | — | — |
| Diluted EPS | $-0.05 | $-0.34 | $-0.48 | $-1.64 | $-1.54 | $0.58 |
| EBITDA | -$44.0M | -$34.7M | -$25.1M | -$15.8M | -$8.7M | -$8.7M |
| Operating cash flow | -$56.9M | -$18.5M | -$27.9M | -$2.8M | -$7.9M | -$10.3M |
| Free cash flow | -$126.6M | -$57.1M | -$51.9M | -$9.9M | -$11.2M | -$13.4M |
| Diluted shares | 230.1M | 196.5M | 113.6M | 102.6M | 92.8M | 83.1M |
Balance sheet
| Period end | Jun 30 | Mar 31 | Dec 31 | Sep 30 | Jun 30 | Mar 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $1.53B | $1.75B | $359.9M | $257.6M | $121.8M | $23.4M |
| Short-term investments | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Total debt | $735.0K | $805.0K | $2.7M | $884.0K | $990.0K | $1.1M |
| Total assets | $3.00B | $2.13B | $695.0M | $323.3M | $179.7M | $77.1M |
| Total liabilities | $451.5M | $246.3M | $191.8M | $368.6M | $286.4M | $97.3M |
| Shareholders' equity | $2.54B | $1.89B | $494.3M | -$58.6M | -$131.9M | -$52.7M |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology