USA Rare Earth, Inc.

For the period ended Jun 30, 2026. Filed Aug 10, 2026.

About this filing

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.

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Contents

Condensed Consolidated Statements of Stockholders’

Condensed Consolidated Statements of Stockholders' Equity

Three Months Ended June 30, · Six Months Ended June 30,
2026 · 2025 · 2026 · 2025
Shares · Amount · Shares · Amount · Shares · Amount · Shares · Amount
(In thousands)
Common Stock
Beginning balance	217,976		$22	81,952		$8	148,055	$15		60,091	$6
USARE LLC Convertible Preferred unit dividends	—		—	—		—	—	—		182	—
Shares issued in reverse merger recapitalization	—		—	—		—	—	—		21,679	2
Conversion of 12% Series A Cumulative Convertible Preferred Stock	—		—	2,610		—	—	—		2,610	—
Investor warrants exercised	—		—	3,051		1	10	—		3,051	1
Conversion of Earnout liability	10,100		1	—		—	10,100	1		—	—
PIPE financing	—		—	8,550		1	69,767	7		8,550	1
Government grant program	16,133		1	—		—	16,133	1		—	—
Other issuances	462		—	26		—	606	—		26	—
Ending balance	244,671		$24	96,189		$10	244,671	$24		96,189	$10
Additional Paid-In Capital
Beginning balance		$2,332,912			$24		$879,848		$104,244
Equity-based compensation		5,248			—		10,187		241
Deemed dividend - preferred accretion to redemption value		(733)			(11,569)		(1,442)		(11,676)
Conversions of 12% Series A Cumulative Convertible Preferred Stock		—			18,724		—		18,724
Common stock issuance		—			353		—		353
Warrant exercises		—			38,469		255		38,469
PIPE financing		—			—		1,499,993		—
PIPE financing costs		—			—		(51,003)		—
Government grant program		451,394			—		451,394		—
Conversion of earnout liability		215,827			—		215,827		(99,639)
Forward purchase agreement		—			269		—		50
Transaction bonus		—			—		—		841
Extinguishment of note payable		—			—		—		1,506
Reverse recapitalization		—			—		—		(6,843)
Other		(1,036)			—		(1,447)		—
Ending balance		$3,003,612			$46,270		$3,003,612		$46,270
Accumulated Other Comprehensive Loss
Beginning balance		$(200)			$—		$130		$—
Translation adjustment		(727)			—		(1,057)		—
Ending balance		$(927)			$—		$(927)		$—
Subscription Receivable
Beginning balance		$—			$(17,187)		$—		$—
Forward purchase agreements prepayment		—			—		—		(20,389)
Early termination of forward purchase agreements		—			17,120		—		20,391
Accretion of forward purchase agreements		—			67		—		(2)
Ending balance		$—			$—		$—		$—
Accumulated Deficit
Beginning balance		$(454,349)			$(37,994)		$(387,360)		$(72,872)
Shares issued in reverse merger recapitalization		—			—		—		(16,954)
Dilution of non-controlling interest		—			(24)		—		(24)
Other		1			—		1		—
Net loss attributable to USA Rare Earth, Inc.		(10,333)			(142,482)		(77,322)		(90,650)
Ending balance		$(464,681)			$(180,500)		$(464,681)		$(180,500)
Non-Controlling Interest
Beginning balance		$574			$2,493		$1,653		$2,643
Net loss attributable to non-controlling interest		(1,630)			(207)		(2,709)		(357)
Ending balance		$(1,056)			$2,286		$(1,056)		$2,286
Total Stockholders’ Equity (Deficit)
Beginning balance	217,976		$1,878,959	81,952		$(52,656)	148,055	$494,286		60,091	$34,021
Ending balance	244,671		2,536,972	96,189		(131,934)	244,671	2,536,972		96,189	(131,934)

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.