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 Statements of Cash Flows (unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
| For the nine months ended September 30, | ||
|---|---|---|
| (in thousands) | 2024 | 2023 |
| Operating activities: | ||
| Net income (loss) | $(43,082) | $40,566 |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
| Depreciation, depletion and amortization | 55,939 | 37,076 |
| Accretion of discount on short-term investments | (23,669) | (17,334) |
| Gain on early extinguishment of debt | (46,265) | — |
| Stock-based compensation expense | 18,623 | 19,041 |
| Amortization of debt issuance costs | 2,864 | 2,650 |
| Lower of cost or net realizable value reserve | 15,085 | — |
| Deferred income taxes | (16,240) | 13,156 |
| Other | 1,957 | 1,091 |
| Decrease (increase) in operating assets: | ||
| Accounts receivable (including related party) | (4,520) | 19,676 |
| Inventories | (42,851) | (25,498) |
| Government grant receivable | 11,456 | — |
| Prepaid expenses, other current and non-current assets | (2,390) | (1,437) |
| Increase (decrease) in operating liabilities: | ||
| Accounts payable and accrued liabilities | (1,303) | 8,601 |
| Income taxes payable | — | (21,163) |
| Deferred revenue | 50,000 | — |
| Deferred government grant | 4,086 | — |
| Other current and non-current liabilities | 3,182 | 55 |
| Net cash provided by (used in) operating activities | (17,128) | 76,480 |
| Investing activities: | ||
| Additions to property, plant and equipment | (144,768) | (188,927) |
| Purchases of short-term investments | (1,150,609) | (705,241) |
| Proceeds from sales of short-term investments | 131,776 | 461,042 |
| Proceeds from maturities of short-term investments | 1,195,202 | 769,907 |
| Proceeds from government awards used for construction | 96 | 1,050 |
| Net cash provided by investing activities | 31,697 | 337,831 |
| Financing activities: | ||
| Proceeds from issuance of long-term debt | 747,500 | — |
| Payment of debt issuance costs | (16,149) | — |
| Payments to retire long-term debt | (428,599) | — |
| Purchase of capped call options | (65,332) | — |
| Repurchases of common stock | (225,068) | — |
| Principal payments on debt obligations and finance leases | (1,738) | (2,101) |
| Tax withholding on stock-based awards | (4,577) | (6,476) |
| Net cash provided by (used in) financing activities | 6,037 | (8,577) |
| Net change in cash, cash equivalents and restricted cash | 20,606 | 405,734 |
| Cash, cash equivalents and restricted cash beginning balance | 264,988 | 143,509 |
| Cash, cash equivalents and restricted cash ending balance | $285,594 | $549,243 |
| Reconciliation of cash, cash equivalents and restricted cash: | ||
| Cash and cash equivalents | $284,434 | $547,668 |
| Restricted cash, current | 811 | 1,228 |
| Restricted cash, non-current | 349 | 347 |
| Total cash, cash equivalents and restricted cash | $285,594 | $549,243 |
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