USA Rare Earth, Inc.
For the period ended Mar 31, 2026. Filed May 14, 2026.
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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.
Mar 31, 2026 · Filed May 14, 2026
USAR$7.92-9.6%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 Operations and Comprehensive
Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income
| Three Months Ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| (In thousands, except per share) | ||
| Revenue | $5,698 | $— |
| Cost of revenue | 5,592 | — |
| Gross profit | 106 | — |
| Operating expenses: | ||
| Selling, general and administrative | 21,175 | 7,029 |
| Research and development | 14,249 | 1,689 |
| Amortization of intangible assets | 1,357 | — |
| Total operating expenses | 36,781 | 8,718 |
| Loss from operations | (36,675) | (8,718) |
| Other (expense) income, net: | ||
| Interest and dividend income | 11,970 | 187 |
| Grant income | 206 | — |
| (Loss) gain on fair market value of financial instruments, net | (43,553) | 60,300 |
| Interest expense and other loss, net | (593) | (87) |
| Total other (expense) income, net | (31,970) | 60,400 |
| (Loss) income before income taxes | (68,645) | 51,682 |
| Benefit from income taxes | (577) | — |
| Net (loss) income | (68,068) | 51,682 |
| Net loss attributable to non-controlling interest | (1,079) | (150) |
| Net (loss) income attributable to USA Rare Earth, Inc. | $(66,989) | $51,832 |
| | ||
| Other comprehensive (loss) income, net of tax | ||
| Foreign currency translation adjustments | (330) | — |
| Comprehensive (loss) income attributable to USA Rare Earth, Inc. | $(67,319) | $51,832 |
| Net (loss) income per share attributable to USA Rare Earth, Inc.: | ||
| Basic | $(0.34) | $0.75 |
| Diluted | (0.34) | 0.58 |
| Number of shares used in per share calculations: | ||
| Basic | 196,479 | 64,463 |
| Diluted | 196,479 | 83,079 |
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