USA Rare Earth, Inc.
For the period ended Jun 30, 2026. Filed Aug 10, 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.
Jun 30, 2026 · Filed Aug 10, 2026
USAR$7.92-9.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Operations and Comprehensive
Condensed Consolidated Statements of Operations and Comprehensive Loss
| Three Months Ended June 30, · Six Months Ended June 30, | ||||
|---|---|---|---|---|
| 2026 · 2025 · 2026 · 2025 | ||||
| (In thousands, except per share) | ||||
| Revenue | $5,821 | $— | $11,519 | $— |
| Cost of revenue | 7,404 | — | 12,996 | — |
| Gross loss | (1,583) | — | (1,477) | — |
| Operating expenses: | ||||
| Selling, general and administrative | 32,607 | 6,227 | 53,782 | 13,256 |
| Research and development | 10,768 | 2,577 | 25,017 | 4,266 |
| Amortization of intangible assets | 1,356 | — | 2,713 | — |
| Total operating expenses | 44,731 | 8,804 | 81,512 | 17,522 |
| Loss from operations | (46,314) | (8,804) | (82,989) | (17,522) |
| Other income (expense), net | ||||
| Interest income | 370 | 765 | 472 | 952 |
| Dividend income | 14,581 | — | 26,449 | — |
| Grant income | 240 | — | 446 | — |
| (Loss) gain on fair market value of financial instruments, net | 22,418 | (134,662) | (21,135) | (74,362) |
| Interest expense and other expense, net | (3,771) | (12) | (4,364) | (99) |
| Total other income (expense), net | 33,838 | (133,909) | 1,868 | (73,509) |
| Loss before income taxes | (12,476) | (142,713) | (81,121) | (91,031) |
| Benefit from income taxes | (513) | — | (1,090) | — |
| Net loss | (11,963) | (142,713) | (80,031) | (91,031) |
| Net loss attributable to non-controlling interest | (1,630) | (207) | (2,709) | (357) |
| Net loss attributable to USA Rare Earth, Inc. | $(10,333) | $(142,506) | $(77,322) | $(90,674) |
| Other comprehensive loss, net of tax | ||||
| Foreign currency translation adjustments | (727) | — | (1,057) | — |
| Comprehensive loss attributable to USA Rare Earth, Inc. | $(11,060) | $(142,506) | $(78,379) | $(90,674) |
| Net loss per share attributable to USA Rare Earth, Inc.: | ||||
| Basic and diluted | $(0.05) | $(1.54) | $(0.37) | $(0.99) |
| Number of shares used in per share calculations: | ||||
| Basic and diluted | 230,081 | 92,769 | 213,347 | 91,598 |
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