MP Materials Corp DE
For the period ended Sep 30, 2024. Filed Nov 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 8, 2024
MP$36.46-3.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Balance Sheets (unaudited)
CONDENSED CONSOLIDATED BALANCE SHEETS
| (in thousands, except share and per share data) | September 30, 2024 | December 31, 2023 |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $284,434 | $263,351 |
| Short-term investments | 582,056 | 734,493 |
| Total cash, cash equivalents and short-term investments | 866,490 | 997,844 |
| Accounts receivable, net of allowance for credit losses of $0 and $0, respectively (including related party) | 14,549 | 10,029 |
| Inventories | 116,699 | 95,182 |
| Government grant receivable | 7,846 | 19,302 |
| Prepaid expenses and other current assets | 11,599 | 8,820 |
| Total current assets | 1,017,183 | 1,131,177 |
| Non-current assets | ||
| Property, plant and equipment, net | 1,230,517 | 1,158,054 |
| Operating lease right-of-use assets | 9,004 | 10,065 |
| Inventories | 19,825 | 13,350 |
| Equity method investment | 8,962 | 9,673 |
| Intangible assets, net | 7,970 | 8,881 |
| Other non-current assets | 6,825 | 5,252 |
| Total non-current assets | 1,283,103 | 1,205,275 |
| Total assets | $2,300,286 | $2,336,452 |
| Liabilities and stockholders’ equity | ||
| Current liabilities | ||
| Accounts and construction payable | $21,711 | $27,995 |
| Accrued liabilities | 66,224 | 73,939 |
| Deferred revenue | 50,000 | — |
| Other current liabilities | 8,854 | 6,616 |
| Total current liabilities | 146,789 | 108,550 |
| Non-current liabilities | ||
| Asset retirement obligations | 5,856 | 5,518 |
| Environmental obligations | 16,506 | 16,545 |
| Long-term debt, net | 937,634 | 681,980 |
| Operating lease liabilities | 6,016 | 6,829 |
| Deferred government grant | 19,836 | 17,433 |
| Deferred income taxes | 98,541 | 130,793 |
| Other non-current liabilities | 4,568 | 3,025 |
| Total non-current liabilities | 1,088,957 | 862,123 |
| Total liabilities | 1,235,746 | 970,673 |
| Commitments and contingencies (Note 13) | ||
| Stockholders’ equity: | ||
| Preferred stock ($0.0001 par value, 50,000,000 shares authorized, none issued and outstanding in either period) | — | — |
| Common stock ($0.0001 par value, 450,000,000 shares authorized, 178,439,486 and 178,082,383 shares issued, and 163,189,704 and 178,082,383 shares outstanding, as of September 30, 2024, and December 31, 2023, respectively) | 18 | 17 |
| Additional paid-in capital | 948,687 | 979,891 |
| Retained earnings | 342,644 | 385,726 |
| Accumulated other comprehensive income | 296 | 145 |
| Treasury stock, at cost, 15,249,782 and 0 shares, respectively | (227,105) | — |
| Total stockholders’ equity | 1,064,540 | 1,365,779 |
| Total liabilities and stockholders’ equity | $2,300,286 | $2,336,452 |
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