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10-K

Annual Report

USA Rare Earth, Inc. USAR

0001970622-26-000021

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Filed
Mar 30, 2026 12:00 AM ET
Period of report
Restated figures. One or more values in this filing restate previously reported amounts.

On SEC.gov

Financials in this filing

Metric Period Value
Shares Diluted FY 2025 · Dec 31, 2025 98.02M sh
Shares Diluted FY 2025 · Dec 31, 2024 59.54M sh
Operating Cash Flow FY 2025 · Dec 31, 2025 −$48.99M
Operating Cash Flow restated FY 2025 · Dec 31, 2024 −$12.99M
Cash And Equivalents FY 2025 · Dec 31, 2025 $359.93M
Cash And Equivalents FY 2025 · Dec 31, 2024 $16.76M
Current Liabilities FY 2025 · Dec 31, 2025 $37.91M
Current Liabilities restated FY 2025 · Dec 31, 2024 $6.93M
Total Liabilities FY 2025 · Dec 31, 2025 $191.81M
Total Liabilities restated FY 2025 · Dec 31, 2024 $15.13M
Current Assets FY 2025 · Dec 31, 2025 $385.38M
Current Assets restated FY 2025 · Dec 31, 2024 $22.27M
Total Assets FY 2025 · Dec 31, 2025 $695M
Total Assets restated FY 2025 · Dec 31, 2024 $69.07M
Eps Diluted FY 2025 · Dec 31, 2025 −$3.31
Eps Diluted FY 2025 · Dec 31, 2024 −$0.40
Eps Basic FY 2025 · Dec 31, 2025 −$3.31
Eps Basic FY 2025 · Dec 31, 2024 −$0.40
Sga Expense FY 2025 · Dec 31, 2025 $43.14M
Sga Expense FY 2025 · Dec 31, 2024 $9.24M
Rd Expense FY 2025 · Dec 31, 2025 $15.89M
Rd Expense FY 2025 · Dec 31, 2024 $6.34M
Net Income FY 2025 · Dec 31, 2025 −$297.56M
Net Income restated FY 2025 · Dec 31, 2024 −$15.74M
Operating Income FY 2025 · Dec 31, 2025 −$59.5M
Operating Income restated FY 2025 · Dec 31, 2024 −$15.59M
Gross Profit FY 2025 · Dec 31, 2025 $195K
Gross Profit FY 2025 · Dec 31, 2024 $0
Cost Of Revenue FY 2025 · Dec 31, 2025 $1.45M
Cost Of Revenue FY 2025 · Dec 31, 2024 $0
Revenue FY 2025 · Dec 31, 2025 $1.64M
Revenue FY 2025 · Dec 31, 2024 $0