# USA Rare Earth, Inc.: overview

USAR · Nasdaq · CIK 1970622 · [Materials](/sectors/materials.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/usar.md) · [Financials](/companies/usar/financials.md) · [Filings](/companies/usar/filings.md) · [Insiders](/companies/usar/insiders.md)

Latest reported revenue: [$5.8m](/filings/0001970622-26-000057.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 10, 2026 (XBRL us-gaap:Revenues, accession 0001970622-26-000057).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | not reported | not reported | [0.0](/filings/0001970622-26-000038.md) | [0.0](/filings/0001970622-26-000057.md) | not reported | not reported | [5.7](/filings/0001970622-26-000038.md) | [5.8](/filings/0001970622-26-000057.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | [1.9%](/filings/0001970622-26-000038.md) | [(27.2%)](/filings/0001970622-26-000057.md) |
| Operating margin | % | not reported | not reported | not reported | not reported | not reported | not reported | [(643.6%)](/filings/0001970622-26-000038.md) | [(795.6%)](/filings/0001970622-26-000057.md) |
| Net margin | % | not reported | not reported | not reported | not reported | not reported | not reported | [(1175.7%)](/filings/0001970622-26-000038.md) | [(177.5%)](/filings/0001970622-26-000057.md) |
| Diluted EPS | $ per share | [(0.03)](/filings/0001970622-25-000074.md) | not reported | [0.58](/filings/0001970622-26-000038.md) | [(1.54)](/filings/0001970622-26-000057.md) | [(1.64)](/filings/0001970622-25-000074.md) | not reported | [(0.34)](/filings/0001970622-26-000038.md) | [(0.05)](/filings/0001970622-26-000057.md) |
| Free cash flow | $m | [(2.4) d](/filings/0001970622-25-000074.md) | [(4.4) d](/filings/0001970622-26-000021.md) | [(12.3)](/filings/0001970622-26-000038.md) | [(12.2) d](/filings/0001970622-26-000057.md) | [(10.0) d](/filings/0001970622-25-000074.md) | [(51.9) d](/filings/0001970622-26-000021.md) | [(57.1)](/filings/0001970622-26-000038.md) | [(127) d](/filings/0001970622-26-000057.md) |

- Revenue. XBRL Revenue: us-gaap:Revenues.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:Revenues.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquireProductiveAssets; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: |
| Revenue | $m | [0.0](/filings/0001970622-26-000021.md) | [1.6](/filings/0001970622-26-000021.md) |
| Gross margin | % | not reported | [11.9%](/filings/0001970622-26-000021.md) |
| Operating margin | % | not reported | [(3621.6%)](/filings/0001970622-26-000021.md) |
| Net margin | % | not reported | [(18110.7%)](/filings/0001970622-26-000021.md) |
| Diluted EPS | $ per share | [(0.40)](/filings/0001970622-26-000021.md) | [(3.31)](/filings/0001970622-26-000021.md) |
| Free cash flow | $m | [(16.1)](/filings/0001970622-26-000021.md) | [(86.3)](/filings/0001970622-26-000021.md) |

- Revenue. XBRL Revenue: us-gaap:Revenues.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:Revenues.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:Revenues.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:Revenues.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquireProductiveAssets.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/usar/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $335.8m | 15,560,453 |  | Added +1,474,835 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $291.8m | 13,522,226 |  | Added +1,456,478 |
| [Alyeska Investment Group, L.P.](/funds/1453072.md) | 2026-06-30 | $243.6m | 11,290,321 |  | Reduced −5,280,456 |
| [UBS Group AG](/funds/1610520.md) | 2026-06-30 | $192.4m | 8,913,844 |  | Added +5,030,029 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $177.8m | 8,240,608 |  | Reduced −121,388 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $118.6m | 5,495,447 |  | Added +4,087,930 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $104.9m | 4,858,203 |  | Added +540,361 |
| [JANE STREET GROUP, LLC](/funds/1595888.md) | 2026-06-30 | $103.3m | 4,784,600 | Put | Added +3,303,900 |
| [Bayshore Capital Advisors, LLC](/funds/1598176.md) | 2026-06-30 | $95.8m | 4,438,785 |  | Reduced −4,304,431 |
| [SUSQUEHANNA INTERNATIONAL GROUP, LLP](/funds/1446194.md) | 2026-06-30 | $91.8m | 4,252,600 | Call | Reduced −205,800 |

## Recent filings

[All 357 filings](/companies/usar/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-01 | 07:57 ET | [8-K](/filings/0001213900-26-105454.md) | 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001213900-26-105454 |
| 2026-09-15 | 17:04 ET | [8-K](/filings/0001213900-26-100190.md) | 8.01 Other events; 9.01 Financial statements and exhibits | 0001213900-26-100190 |
| 2026-09-11 | 16:10 ET | [SCHEDULE 13D](/filings/0000947871-26-000861.md) | Ownership report, active investor | 0000947871-26-000861 |
| 2026-09-04 | 07:11 ET | [8-K](/filings/0001213900-26-097399.md) | 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 |
| 2026-08-31 | 06:37 ET | [8-K](/filings/0001970622-26-000061.md) | 5.07 Shareholder vote results | 0001970622-26-000061 |
| 2026-08-24 | 08:30 ET | [8-K](/filings/0001213900-26-092810.md) | 8.01 Other events; 9.01 Financial statements and exhibits | 0001213900-26-092810 |
| 2026-08-10 | 16:42 ET | [10-Q](/filings/0001970622-26-000057.md) | Quarterly report, period 2026-06-30 | 0001970622-26-000057 |
| 2026-08-10 | 16:40 ET | [8-K](/filings/0001970622-26-000056.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001970622-26-000056 |
| 2026-08-07 | 17:25 ET | [8-K](/filings/0001213900-26-086814.md) | 2.01 Completion of an acquisition or disposition; 9.01 Financial statements and exhibits | 0001213900-26-086814 |
| 2026-07-23 | 08:32 ET | [8-K](/filings/0001213900-26-080645.md) | 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, 2025](/filings/0001970622-26-000021.md), filed Mar 30, 2026.

## 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](/leagues/2026q3/targets/95e48f91-bc2a-460e-b12c-16e65f329159)

## About the filer

- CIK: 1970622
- Tickers: USAR
- Exchange: Nasdaq
- SIC code: 1000 Metal Mining
- State of incorporation: E9
- Filer category: <br>Emerging growth company

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 27, 2026, 17:29 ET. No prices; not investment advice.