USA Rare Earth, Inc. Class A Common Stock (USAR) Financials
Key financial figures for USA Rare Earth, Inc. Class A Common Stock (Q2 2026).
USA Rare Earth posted $5.8 million in Q2 2026 revenue and a $46.3 million operating loss, while ending the quarter with $1.53 billion in cash after finalizing up to $1.6 billion in Commerce Department CHIPS Act funding and advancing its ~$2.8 billion Serra Verde acquisition. Revenue was $5.8 million in Q2 2026, up from a de minimis base a year earlier, against total operating expenses of $44.7 million and a loss from operations of $46.3 million. Cash and cash equivalents stood at $1.53 billion as of June 30, 2026, down from $1.75 billion at Q1 2026 end, reflecting continued ramp-up spending; net loss attributable to USA Rare Earth was $10.3 million ($0.05 per diluted share). In June 2026 the company finalized definitive agreements with the U.S. On the outlook: For 2026, the company expects to complete the Round Top Definitive Feasibility Study in Q4 2026 (publication targeted Q1 2027) and to reach 600 metric tons per annum of run-rate magnet manufacturing capacity at the Stillwater facility in Q4 2026. Figures are for Q2 2026, as USA Rare Earth, Inc. reported them.
- Revenue
- $6M
- Net Income
- -$12M
- EPS
- $-0.05
- Total Assets
- $3.0B
- Operating Cash Flow
- -$57M
Recent quarters
| Period | Revenue | Net Income | EPS | Operating Margin | Free Cash Flow |
|---|---|---|---|---|---|
| Q2 FY2026 | $6M | -$10M | -$0.05 | -795.64% | -$127M |
| Q1 FY2026 | $6M | -$67M | -$0.34 | -643.65% | -$57M |
| Q4 FY2025 | $2M | -$50M | -$0.37 | -1589.77% | -$52M |
| Q3 FY2025 | $0 | -$157M | -$1.64 | -$10M | |
| Q2 FY2025 | $0 | -$143M | -$1.54 | -$11M |
Recent fiscal years
| Period | Revenue | Net Income | EPS | Operating Margin | Free Cash Flow |
|---|---|---|---|---|---|
| FY2025 | $2M | -$298M | -$3.31 | -3621.61% | -$86M |
| FY2024 | $0 | -$16M | -$0.40 | -$16M | |
| FY2023 | $0 | $7M | $0.28 | -$28M |
Frequently asked questions
What was USA Rare Earth, Inc.'s revenue last quarter?
USA Rare Earth, Inc. reported revenue of $5.8 million for Q2 FY2026.
Is USA Rare Earth, Inc. profitable?
Not in its most recent reported period. USA Rare Earth, Inc. reported a net loss of $10.3 million for Q2 FY2026, a net margin of -177.51% on revenue.
How has USA Rare Earth, Inc.'s margin trended?
Operating margin was -795.64% in Q2 FY2026. The quarter by quarter series is on the SentiSense financials page.
How much free cash flow did USA Rare Earth, Inc. generate?
USA Rare Earth, Inc. generated free cash flow of -$126.6 million in Q2 FY2026, after capital expenditure.
Full income statement, balance sheet and cash flow for USA Rare Earth, Inc. Class A Common Stock on SentiSense, with up to forty quarters and twenty fiscal years of history.