20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.
USA Rare Earth, Inc. (USAR) operates in the OTHER INDUSTRIAL METALS & MINING industry and is headquartered in Stillwater, United States with about 132 employees. Its market capitalization is roughly $6 billion. In the fiscal year ended 2025-12-31, USAR reported $2M in revenue and ($298M) in net income.
USA Rare Earth, Inc. engages in mining, processing, and supplying rare earths and other critical minerals in the United States, Europe, and Asia. It primarily explores neodymium, dysprosium, terbium, yttrium, gallium, hafnium, praseodymium, samarium, and other critical minerals.
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| Income statement | TTM → 2026-06-30 | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|---|
| Total Revenue | $326M | $2M | $1.2B | $0M | $0M |
| Gross Profit | ($7M) | ($1M) | $0M | $0M | $0M |
| Gross Margin % | -2.2% | -84.7% | -0.0% | — | — |
| Operating Income (EBIT) | ($125M) | ($60M) | ($16M) | ($1M) | ($24M) |
| Operating Margin % | -38.4% | -3621.6% | -1.3% | — | — |
| Net Income | ($284M) | ($298M) | ($16M) | $7M | ($24M) |
| Net Margin % | -87.3% | -18110.7% | -1.3% | — | — |
| EBITDA | ($119M) | ($58M) | ($15M) | ($1M) | ($24M) |
| Earnings Per Share (EPS) | $-1.45 | $-3.04 | $-0.70 | $0.28 | $-0.87 |
| Shares Outstanding (M) | 196M | 98M | 22M | 24M | 28M |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
| Quarterly income statement | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|---|---|---|
| Total Revenue | $6M | $6M | $2M | $312M | $0M | $309M | $5M | $0M |
| Gross Profit | ($4M) | ($2M) | ($1M) | $0M | $0M | $0M | $249M | $0M |
| Gross Margin % | -69.8% | -35.1% | -47.3% | -0.1% | — | -0.0% | 4619.5% | — |
| Operating Income (EBIT) | ($46M) | ($37M) | ($26M) | ($16M) | ($9M) | ($9M) | ($10M) | ($2M) |
| Operating Margin % | -795.6% | -643.6% | -1589.8% | -5.1% | — | -2.8% | -188.7% | — |
| Net Income | ($10M) | ($67M) | ($50M) | ($157M) | ($143M) | $52M | $0M | ($2M) |
| Net Margin % | -177.5% | -1175.7% | -3055.7% | -50.1% | — | 16.8% | 7.9% | — |
| EBITDA | ($44M) | ($35M) | ($25M) | ($16M) | ($9M) | $52M | ($10M) | ($2M) |
| Earnings Per Share (EPS) | $-0.05 | $-0.34 | $-0.34 | $-1.53 | $-1.54 | $0.62 | $0.02 | $-0.06 |
| Shares Outstanding (M) | 196M | 196M | 148M | 103M | 93M | 83M | 22M | 31M |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
| Cash flow | TTM → 2026-06-30 | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|---|
| Cash from Operations (CFO) | ($106M) | ($49M) | ($13M) | ($22M) | ($15M) |
| Capital Expenditures (CapEx) | $139M | $37M | $3M | $6M | $5M |
| Free Cash Flow (FCF) | ($246M) | ($86M) | ($16M) | ($28M) | ($20M) |
| FCF Margin % | -75.4% | -5255.3% | -1.4% | — | — |
| Dividends Paid | — | — | $12M | — | — |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
| Quarterly cash flow | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|---|---|---|
| Cash from Operations (CFO) | ($57M) | ($18M) | ($28M) | ($3M) | ($8M) | ($10M) | ($1M) | ($1M) |
| Capital Expenditures (CapEx) | $70M | $39M | $24M | $7M | $4M | $2M | $38M | $55M |
| Free Cash Flow (FCF) | ($127M) | ($57M) | ($52M) | ($10M) | ($12M) | ($12M) | ($39M) | ($56M) |
| FCF Margin % | -2175.1% | -1002.1% | -3156.4% | -3.2% | — | -4.0% | -722.5% | — |
| Dividends Paid | $1M | — | — | $11M | $12M | $2M | $109M | $3M |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
| Balance sheet | 2026-06-30 | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|---|
| Total Assets | $3.0B | $695M | $69M | $259M | $67M |
| Cash & Cash Equivalents | $1.6B | $360M | $17M | $0M | $27M |
| Total Liabilities | $453M | $201M | $36M | $13M | $35M |
| Total Debt (Short + Long-Term) | $1M | $2M | $1M | $1M | $0M |
| Total Shareholders' Equity | $2.5B | $493M | $30M | $259M | $2.2B |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive USAR viewer.
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