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10-Q

Quarterly Report

USA Rare Earth, Inc. USAR

0001970622-26-000038

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Filed
May 14, 2026 12:00 AM ET
Period of report

On SEC.gov

Financials in this filing

Metric Period Value
Shares Diluted Q1 2026 · Mar 31, 2026 196.48M sh
Shares Diluted Q1 2026 · Mar 31, 2025 83.08M sh
Operating Cash Flow Q1 2026 · Mar 31, 2026 −$18.46M
Operating Cash Flow Q1 2026 · Mar 31, 2025 −$10.33M
Cash And Equivalents Q1 2026 · Mar 31, 2026 $1.75B
Cash And Equivalents Q1 2026 · Dec 31, 2025 $359.93M
Current Liabilities Q1 2026 · Mar 31, 2026 $49.34M
Current Liabilities Q1 2026 · Dec 31, 2025 $37.91M
Total Liabilities Q1 2026 · Mar 31, 2026 $246.27M
Total Liabilities Q1 2026 · Dec 31, 2025 $191.81M
Current Assets Q1 2026 · Mar 31, 2026 $1.79B
Current Assets Q1 2026 · Dec 31, 2025 $385.38M
Total Assets Q1 2026 · Mar 31, 2026 $2.13B
Total Assets Q1 2026 · Dec 31, 2025 $695M
Eps Diluted Q1 2026 · Mar 31, 2026 −$0.34
Eps Diluted Q1 2026 · Mar 31, 2025 $0.58
Eps Basic Q1 2026 · Mar 31, 2026 −$0.34
Eps Basic Q1 2026 · Mar 31, 2025 $0.75
Sga Expense Q1 2026 · Mar 31, 2026 $21.18M
Sga Expense Q1 2026 · Mar 31, 2025 $7.03M
Rd Expense Q1 2026 · Mar 31, 2026 $14.25M
Rd Expense Q1 2026 · Mar 31, 2025 $1.69M
Net Income Q1 2026 · Mar 31, 2026 −$66.99M
Net Income Q1 2026 · Mar 31, 2025 $51.83M
Operating Income Q1 2026 · Mar 31, 2026 −$36.68M
Operating Income Q1 2026 · Mar 31, 2025 −$8.72M
Gross Profit Q1 2026 · Mar 31, 2026 $106K
Gross Profit Q1 2026 · Mar 31, 2025 $0
Cost Of Revenue Q1 2026 · Mar 31, 2026 $5.59M
Cost Of Revenue Q1 2026 · Mar 31, 2025 $0
Revenue Q1 2026 · Mar 31, 2026 $5.7M
Revenue Q1 2026 · Mar 31, 2025 $0