USA Rare Earth, Inc.
USARNasdaqCIK 1970622MaterialsFiscal year ends Dec 31
Latest reported revenue, Q2 FY2026$5.8mRevenue, Q2 FY2026, three months to 2026-06-30$5.8m. XBRL concept
us-gaap:Revenues. 10-Q filed 2026-08-10, accession 0001970622-26-000057.Report this figureThree months to Jun 30, 2026, from the 10-Q filed Aug 10, 2026.Latest quarter: Q2 FY2026
Three months to Jun 30, 2026, against the same quarter a year earlier.
- Revenue$5.8mRevenue, Q2 FY2026, three months to 2026-06-30$5.8m. XBRL concept
us-gaap:Revenues. 10-Q filed 2026-08-10, accession 0001970622-26-000057.Report this figureSign changed from a year earlier - Gross margin−27.2%Gross margin, Q2 FY2026, three months to 2026-06-30. gross profit / revenueGross profit: −$1.6m. XBRL concept
us-gaap:GrossProfit. 10-Q filed 2026-08-10, accession 0001970622-26-000057.Revenue: $5.8m. XBRL conceptus-gaap:Revenues. 10-Q filed 2026-08-10, accession 0001970622-26-000057.Report this figureNo year-earlier figure to compare - Operating margin−795.6%Operating margin, Q2 FY2026, three months to 2026-06-30. operating income / revenueOperating income: −$46.3m. XBRL concept
us-gaap:OperatingIncomeLoss. 10-Q filed 2026-08-10, accession 0001970622-26-000057.Revenue: $5.8m. XBRL conceptus-gaap:Revenues. 10-Q filed 2026-08-10, accession 0001970622-26-000057.Report this figureNo year-earlier figure to compare - Net margin−177.5%Net margin, Q2 FY2026, three months to 2026-06-30. net income / revenueNet income: −$10.3m. XBRL concept
us-gaap:NetIncomeLoss. 10-Q filed 2026-08-10, accession 0001970622-26-000057.Revenue: $5.8m. XBRL conceptus-gaap:Revenues. 10-Q filed 2026-08-10, accession 0001970622-26-000057.Report this figureNo year-earlier figure to compare - Diluted EPS−$0.05Diluted EPS, Q2 FY2026, three months to 2026-06-30−$0.05 per share. XBRL concept
us-gaap:EarningsPerShareDiluted. 10-Q filed 2026-08-10, accession 0001970622-26-000057.Report this figure+96.8% on a year earlier - Free cash flow−$126.6mFree cash flow, Q2 FY2026, three months to 2026-06-30. operating cash flow − capital expenditureOperating cash flow: −$56.9m. XBRL concept
us-gaap:NetCashProvidedByUsedInOperatingActivities. 10-Q filed 2026-08-10, accession 0001970622-26-000057. Derived: 6-month figure less the 3-month figure.Capital expenditure: $69.7m. XBRL conceptus-gaap:PaymentsToAcquireProductiveAssets. 10-Q filed 2026-08-10, accession 0001970622-26-000057. Derived: 6-month figure less the 3-month figure.Report this figure−938.3% on a year earlier
Last eight quarters
Full statements| Line item | Unit | Q3 FY20242024-09-30 | Q4 FY20242024-12-31 | Q1 FY20252025-03-31 | Q2 FY20252025-06-30 | Q3 FY20252025-09-30 | Q4 FY20252025-12-31 | Q1 FY20262026-03-31 | Q2 FY20262026-06-30 | Shape over the periods |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $m | not reported (Revenue not reported) | not reported (Revenue not reported) | 0.0Revenue, Q1 FY2025, three months to 2025-03-31$0. XBRL concept us-gaap:Revenues. 10-Q filed 2026-05-14, accession 0001970622-26-000038.Report this figure | 0.0Revenue, Q2 FY2025, three months to 2025-06-30$0. XBRL concept us-gaap:Revenues. 10-Q filed 2026-08-10, accession 0001970622-26-000057.Report this figure | not reported (Revenue not reported) | not reported (Revenue not reported) | 5.7Revenue, Q1 FY2026, three months to 2026-03-31$5.7m. XBRL concept us-gaap:Revenues. 10-Q filed 2026-05-14, accession 0001970622-26-000038.Report this figure | 5.8Revenue, Q2 FY2026, three months to 2026-06-30$5.8m. XBRL concept us-gaap:Revenues. 10-Q filed 2026-08-10, accession 0001970622-26-000057.Report this figure | |
| Gross margin | % | not reported (Gross profit and Revenue not reported) | not reported (Gross profit and Revenue not reported) | not reported (Revenue of zero not reported) | not reported (Revenue of zero not reported) | not reported (Gross profit and Revenue not reported) | not reported (Gross profit and Revenue not reported) | 1.9%Gross margin, Q1 FY2026, three months to 2026-03-31. gross profit / revenueGross profit: $106.0k. XBRL concept us-gaap:GrossProfit. 10-Q filed 2026-05-14, accession 0001970622-26-000038.Revenue: $5.7m. XBRL concept us-gaap:Revenues. 10-Q filed 2026-05-14, accession 0001970622-26-000038.Report this figure | (27.2%)Gross margin, Q2 FY2026, three months to 2026-06-30. gross profit / revenueGross profit: −$1.6m. XBRL concept us-gaap:GrossProfit. 10-Q filed 2026-08-10, accession 0001970622-26-000057.Revenue: $5.8m. XBRL concept us-gaap:Revenues. 10-Q filed 2026-08-10, accession 0001970622-26-000057.Report this figure | |
| Operating margin | % | not reported (Revenue not reported) | not reported (Revenue not reported) | not reported (Revenue of zero not reported) | not reported (Revenue of zero not reported) | not reported (Revenue not reported) | not reported (Revenue not reported) | (643.6%)Operating margin, Q1 FY2026, three months to 2026-03-31. operating income / revenueOperating income: −$36.7m. XBRL concept us-gaap:OperatingIncomeLoss. 10-Q filed 2026-05-14, accession 0001970622-26-000038.Revenue: $5.7m. XBRL concept us-gaap:Revenues. 10-Q filed 2026-05-14, accession 0001970622-26-000038.Report this figure | (795.6%)Operating margin, Q2 FY2026, three months to 2026-06-30. operating income / revenueOperating income: −$46.3m. XBRL concept us-gaap:OperatingIncomeLoss. 10-Q filed 2026-08-10, accession 0001970622-26-000057.Revenue: $5.8m. XBRL concept us-gaap:Revenues. 10-Q filed 2026-08-10, accession 0001970622-26-000057.Report this figure | |
| Net margin | % | not reported (Revenue not reported) | not reported (Revenue not reported) | not reported (Revenue of zero not reported) | not reported (Revenue of zero not reported) | not reported (Revenue not reported) | not reported (Revenue not reported) | (1175.7%)Net margin, Q1 FY2026, three months to 2026-03-31. net income / revenueNet income: −$67.0m. XBRL concept us-gaap:NetIncomeLoss. 10-Q filed 2026-05-14, accession 0001970622-26-000038.Revenue: $5.7m. XBRL concept us-gaap:Revenues. 10-Q filed 2026-05-14, accession 0001970622-26-000038.Report this figure | (177.5%)Net margin, Q2 FY2026, three months to 2026-06-30. net income / revenueNet income: −$10.3m. XBRL concept us-gaap:NetIncomeLoss. 10-Q filed 2026-08-10, accession 0001970622-26-000057.Revenue: $5.8m. XBRL concept us-gaap:Revenues. 10-Q filed 2026-08-10, accession 0001970622-26-000057.Report this figure | |
| Diluted EPS | $ per share | (0.03)Diluted EPS, Q3 FY2024, three months to 2024-09-30−$0.03 per share. XBRL concept us-gaap:EarningsPerShareDiluted. 10-Q filed 2025-11-06, accession 0001970622-25-000074.Report this figure | not reported (Diluted EPS not reported) | 0.58Diluted EPS, Q1 FY2025, three months to 2025-03-31$0.58 per share. XBRL concept us-gaap:EarningsPerShareDiluted. 10-Q filed 2026-05-14, accession 0001970622-26-000038.Report this figure | (1.54)Diluted EPS, Q2 FY2025, three months to 2025-06-30−$1.54 per share. XBRL concept us-gaap:EarningsPerShareDiluted. 10-Q filed 2026-08-10, accession 0001970622-26-000057.Report this figure | (1.64)Diluted EPS, Q3 FY2025, three months to 2025-09-30−$1.64 per share. XBRL concept us-gaap:EarningsPerShareDiluted. 10-Q filed 2025-11-06, accession 0001970622-25-000074.Report this figure | not reported (Diluted EPS not reported) | (0.34)Diluted EPS, Q1 FY2026, three months to 2026-03-31−$0.34 per share. XBRL concept us-gaap:EarningsPerShareDiluted. 10-Q filed 2026-05-14, accession 0001970622-26-000038.Report this figure | (0.05)Diluted EPS, Q2 FY2026, three months to 2026-06-30−$0.05 per share. XBRL concept us-gaap:EarningsPerShareDiluted. 10-Q filed 2026-08-10, accession 0001970622-26-000057.Report this figure | |
| Free cash flow | $m | (2.4)Free cash flow, Q3 FY2024, three months to 2024-09-30. operating cash flow − capital expenditureOperating cash flow: −$1.2m. XBRL concept us-gaap:NetCashProvidedByUsedInOperatingActivities. 10-Q filed 2025-11-06, accession 0001970622-25-000074. Derived: 9-month figure less the 6-month figure.Capital expenditure: $1.2m. XBRL concept us-gaap:PaymentsToAcquireProductiveAssets. 10-Q filed 2025-11-06, accession 0001970622-25-000074. Derived: 9-month figure less the 6-month figure.Report this figure | (4.4)Free cash flow, Q4 FY2024, three months to 2024-12-31. operating cash flow − capital expenditureOperating cash flow: −$3.5m. XBRL concept us-gaap:NetCashProvidedByUsedInOperatingActivities. 10-K filed 2026-03-30, accession 0001970622-26-000021. Derived: 12-month figure less the 9-month figure.Capital expenditure: $851.0k. XBRL concept us-gaap:PaymentsToAcquireProductiveAssets. 10-K filed 2026-03-30, accession 0001970622-26-000021. Derived: 12-month figure less the 9-month figure.Report this figure | (12.3)Free cash flow, Q1 FY2025, three months to 2025-03-31. operating cash flow − capital expenditureOperating cash flow: −$10.3m. XBRL concept us-gaap:NetCashProvidedByUsedInOperatingActivities. 10-Q filed 2026-05-14, accession 0001970622-26-000038.Capital expenditure: $2.0m. XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. 10-Q filed 2025-05-15, accession 0001213900-25-043743.Report this figure | (12.2)Free cash flow, Q2 FY2025, three months to 2025-06-30. operating cash flow − capital expenditureOperating cash flow: −$7.9m. XBRL concept us-gaap:NetCashProvidedByUsedInOperatingActivities. 10-Q filed 2026-08-10, accession 0001970622-26-000057. Derived: 6-month figure less the 3-month figure.Capital expenditure: $4.3m. XBRL concept us-gaap:PaymentsToAcquireProductiveAssets. 10-Q filed 2026-08-10, accession 0001970622-26-000057. Derived: 6-month figure less the 3-month figure.Report this figure | (10.0)Free cash flow, Q3 FY2025, three months to 2025-09-30. operating cash flow − capital expenditureOperating cash flow: −$2.8m. XBRL concept us-gaap:NetCashProvidedByUsedInOperatingActivities. 10-Q filed 2025-11-06, accession 0001970622-25-000074. Derived: 9-month figure less the 6-month figure.Capital expenditure: $7.1m. XBRL concept us-gaap:PaymentsToAcquireProductiveAssets. 10-Q filed 2025-11-06, accession 0001970622-25-000074. Derived: 9-month figure less the 6-month figure.Report this figure | (51.9)Free cash flow, Q4 FY2025, three months to 2025-12-31. operating cash flow − capital expenditureOperating cash flow: −$27.9m. XBRL concept us-gaap:NetCashProvidedByUsedInOperatingActivities. 10-K filed 2026-03-30, accession 0001970622-26-000021. Derived: 12-month figure less the 9-month figure.Capital expenditure: $24.0m. XBRL concept us-gaap:PaymentsToAcquireProductiveAssets. 10-K filed 2026-03-30, accession 0001970622-26-000021. Derived: 12-month figure less the 9-month figure.Report this figure | (57.1)Free cash flow, Q1 FY2026, three months to 2026-03-31. operating cash flow − capital expenditureOperating cash flow: −$18.5m. XBRL concept us-gaap:NetCashProvidedByUsedInOperatingActivities. 10-Q filed 2026-05-14, accession 0001970622-26-000038.Capital expenditure: $38.6m. XBRL concept us-gaap:PaymentsToAcquireProductiveAssets. 10-Q filed 2026-05-14, accession 0001970622-26-000038.Report this figure | (127)Free cash flow, Q2 FY2026, three months to 2026-06-30. operating cash flow − capital expenditureOperating cash flow: −$56.9m. XBRL concept us-gaap:NetCashProvidedByUsedInOperatingActivities. 10-Q filed 2026-08-10, accession 0001970622-26-000057. Derived: 6-month figure less the 3-month figure.Capital expenditure: $69.7m. XBRL concept us-gaap:PaymentsToAcquireProductiveAssets. 10-Q filed 2026-08-10, accession 0001970622-26-000057. Derived: 6-month figure less the 3-month figure.Report this figure |
Focus or hover a figure to see its XBRL concept, period and filing; each links to that filing. A figure marked d is derived: a quarter computed from year-to-date figures, such as the fourth quarter as the fiscal year less the nine months before it. A ratio reads not reported when any input is missing.
Last five fiscal years
| Line item | Unit | FY20242024-12-31 | FY20252025-12-31 | Shape over the periods |
|---|---|---|---|---|
| Revenue | $m | 0.0Revenue, FY2024, twelve months to 2024-12-31$0. XBRL concept us-gaap:Revenues. 10-K filed 2026-03-30, accession 0001970622-26-000021.Report this figure | 1.6Revenue, FY2025, twelve months to 2025-12-31$1.6m. XBRL concept us-gaap:Revenues. 10-K filed 2026-03-30, accession 0001970622-26-000021.Report this figure | |
| Gross margin | % | not reported (Revenue of zero not reported) | 11.9%Gross margin, FY2025, twelve months to 2025-12-31. gross profit / revenueGross profit: $195.0k. XBRL concept us-gaap:GrossProfit. 10-K filed 2026-03-30, accession 0001970622-26-000021.Revenue: $1.6m. XBRL concept us-gaap:Revenues. 10-K filed 2026-03-30, accession 0001970622-26-000021.Report this figure | |
| Operating margin | % | not reported (Revenue of zero not reported) | (3621.6%)Operating margin, FY2025, twelve months to 2025-12-31. operating income / revenueOperating income: −$59.5m. XBRL concept us-gaap:OperatingIncomeLoss. 10-K filed 2026-03-30, accession 0001970622-26-000021.Revenue: $1.6m. XBRL concept us-gaap:Revenues. 10-K filed 2026-03-30, accession 0001970622-26-000021.Report this figure | |
| Net margin | % | not reported (Revenue of zero not reported) | (18110.7%)Net margin, FY2025, twelve months to 2025-12-31. net income / revenueNet income: −$297.6m. XBRL concept us-gaap:NetIncomeLoss. 10-K filed 2026-03-30, accession 0001970622-26-000021.Revenue: $1.6m. XBRL concept us-gaap:Revenues. 10-K filed 2026-03-30, accession 0001970622-26-000021.Report this figure | |
| Diluted EPS | $ per share | (0.40)Diluted EPS, FY2024, twelve months to 2024-12-31−$0.40 per share. XBRL concept us-gaap:EarningsPerShareDiluted. 10-K filed 2026-03-30, accession 0001970622-26-000021.Report this figure | (3.31)Diluted EPS, FY2025, twelve months to 2025-12-31−$3.31 per share. XBRL concept us-gaap:EarningsPerShareDiluted. 10-K filed 2026-03-30, accession 0001970622-26-000021.Report this figure | |
| Free cash flow | $m | (16.1)Free cash flow, FY2024, twelve months to 2024-12-31. operating cash flow − capital expenditureOperating cash flow: −$13.0m. XBRL concept us-gaap:NetCashProvidedByUsedInOperatingActivities. 10-K filed 2026-03-30, accession 0001970622-26-000021.Capital expenditure: $3.1m. XBRL concept us-gaap:PaymentsToAcquireProductiveAssets. 10-K filed 2026-03-30, accession 0001970622-26-000021.Report this figure | (86.3)Free cash flow, FY2025, twelve months to 2025-12-31. operating cash flow − capital expenditureOperating cash flow: −$49.0m. XBRL concept us-gaap:NetCashProvidedByUsedInOperatingActivities. 10-K filed 2026-03-30, accession 0001970622-26-000021.Capital expenditure: $37.4m. XBRL concept us-gaap:PaymentsToAcquireProductiveAssets. 10-K filed 2026-03-30, accession 0001970622-26-000021.Report this figure |
Focus or hover a figure to see its XBRL concept, period and filing; each links to that filing. A figure marked d is derived: a quarter computed from year-to-date figures, such as the fourth quarter as the fiscal year less the nine months before it. A ratio reads not reported when any input is missing.
Insider purchases and sales
All insider transactionsThe last 20 open-market transactions reported on Form 4 (codes P and S). The reported price is the price per share the insider stated on the form: filing data, not a market price.
No open-market purchases or sales by insiders are in coverage from Nov 2024 to Oct 2026.
No open-market purchases or sales by insiders are in coverage for this company.
Funds that report holding it
All fundsFrom each manager's latest Form 13F, largest reported value first. Reported value is as filed at the quarter end: filing data, not a price. A put or call is an option position, not shares held.
| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
|---|---|---|---|---|---|
| BlackRock, Inc. | 2026-06-30 | $335.8m | 15,560,453 | Added+1,474,835 | |
| STATE STREET CORP | 2026-06-30 | $291.8m | 13,522,226 | Added+1,456,478 | |
| Alyeska Investment Group, L.P. | 2026-06-30 | $243.6m | 11,290,321 | Reduced−5,280,456 | |
| UBS Group AG | 2026-06-30 | $192.4m | 8,913,844 | Added+5,030,029 | |
| VANGUARD CAPITAL MANAGEMENT LLC | 2026-06-30 | $177.8m | 8,240,608 | Reduced−121,388 | |
| VANGUARD PORTFOLIO MANAGEMENT LLC | 2026-06-30 | $118.6m | 5,495,447 | Added+4,087,930 | |
| GEODE CAPITAL MANAGEMENT, LLC | 2026-06-30 | $104.9m | 4,858,203 | Added+540,361 | |
| JANE STREET GROUP, LLC | 2026-06-30 | $103.3m | 4,784,600 | Put | Added+3,303,900 |
| Bayshore Capital Advisors, LLC | 2026-06-30 | $95.8m | 4,438,785 | Reduced−4,304,431 | |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | 2026-06-30 | $91.8m | 4,252,600 | Call | Reduced−205,800 |
Recent filings
All 357 filingsReports and events: 10-K, 10-Q, 8-K, proxy statements and ownership schedules.
| Filed | Form | What it is | Accession number |
|---|---|---|---|
| 2026-10-0107:57 ET | 8-K | 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001213900-26-105454 |
| 2026-09-1517:04 ET | 8-K | 8.01 Other events; 9.01 Financial statements and exhibits | 0001213900-26-100190 |
| 2026-09-1116:10 ET | SCHEDULE 13D | Ownership report, active investor | 0000947871-26-000861 |
| 2026-09-0407:11 ET | 8-K | 1.01 Entry into a material agreement; 2.01 Completion of an acquisition or disposition; 2.03 New direct financial obligation; 3.02 Unregistered sale of equity; 5.02 Departure or appointment of officers or directors; 7.01 Regulation FD disclosure; 8.01 Other events; 9.01 Financial statements and exhibits | 0001213900-26-097399 |
| 2026-08-3106:37 ET | 8-K | 5.07 Shareholder vote results | 0001970622-26-000061 |
| 2026-08-2408:30 ET | 8-K | 8.01 Other events; 9.01 Financial statements and exhibits | 0001213900-26-092810 |
| 2026-08-1016:42 ET | 10-Q | Quarterly reportPeriod 2026-06-30 | 0001970622-26-000057 |
| 2026-08-1016:40 ET | 8-K | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001970622-26-000056 |
| 2026-08-0717:25 ET | 8-K | 2.01 Completion of an acquisition or disposition; 9.01 Financial statements and exhibits | 0001213900-26-086814 |
| 2026-07-2308:32 ET | 8-K | 3.02 Unregistered sale of equity; 7.01 Regulation FD disclosure; 8.01 Other events; 9.01 Financial statements and exhibits | 0001213900-26-080645 |
Latest annual report
Form 10-K for the fiscal year ended Dec 31, 2025Filed Mar 30, 2026. Its page lists the documents and the extracted sections, such as Business and Risk factors.
Forecast league
Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by [object Promise].Forecast this quarter
About the filer
- CIK
- 1970622
- Tickers
- USAR
- Exchange
- Nasdaq
- SIC code
- 1000 Metal Mining
- Sector
- Materials
- Fiscal year ends
- Dec 31
- Incorporated in
- E9
- Filer category
- <br>Emerging growth company
- Former names
- Inflection Point Acquisition Corp. II (to 2025-03-11)
Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 27, 2026, 17:29 ET. Listed shows no prices and gives no investment advice.