USA Rare Earth, Inc.
USAR- Exchange
- Nasdaq
- Industry
- Metal Mining
- SEC CIK
- 0001970622
In the last 90 days, USA Rare Earth, Inc. insiders filed 0 open-market purchases and 1 sale; 399 institutions reported holding it in 13F filings for Q2 2026, worth $2.97B in total; Soros Fund Management is the only superinvestor holding it.
- Currency
- USD
- Source
- SEC XBRL data (10-K, 10-Q, 20-F, 40-F)
- Updated
- Oct 8, 2026, 3:07 PM ET
Revenue flow, FY2025
Where the revenue went in FY2025, from the income statement below. Green is profit; orange is costs, expenses and taxes. Percentages are shares of revenue; hover over a band or a bar for the exact amount.
Net loss for FY2025: $297.6M (18110.7% of revenue).
Income statement
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 |
|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 |
| Filing | 10-K | 10-K |
| Reported | Jan 26, 2026 | – |
| Revenue | $1.64M | – |
| Cost of revenue | $1.45M | – |
| Gross profit | $195.0K | – |
| Research and development | $15.9M | – |
| Selling, general and administrative | $43.1M | – |
| Operating income | -$59.5M | -$4.08M |
| Income tax | -$160.0K | – |
| Net income | -$297.6M | $7.90M |
| EPS, basic | $-3.31 | – |
| EPS, diluted | $-3.31 | – |
| Weighted shares, basic | 98.0M | – |
| Weighted shares, diluted | 98.0M | – |
| Margins and growth | ||
| Gross margin | 11.9% | – |
| Operating margin | -3621.6% | – |
| Net margin | -18110.7% | – |
| Net income growth, year over year | −3,867.0% | – |
Balance sheet
Each column is one fiscal year, newest first.
| Line item | FY2025! | FY2024! |
|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 |
| Filing | 10-K | 10-K |
| Reported | Jan 26, 2026 | – |
| Cash and equivalents | $359.9M | $2.10K |
| Inventory | $18.5M | – |
| Total current assets | $385.4M | $60.5K |
| Property, plant and equipment | $85.4M | – |
| Goodwill | $134.8M | – |
| Intangible assets | $68.6M | – |
| Total assets | $695.0M | $24.1M |
| Accounts payable | $11.1M | – |
| Total current liabilities | $37.9M | $3.94M |
| Total liabilities | $191.8M | $17.1M |
| Shareholders' equity | $494.3M | -$17.0M |
Cash flow statement
Each column is one fiscal year, newest first. Free cash flow is operating cash flow minus capital expenditures.
| Line item | FY2025 | FY2024 |
|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 |
| Filing | 10-K | 10-K |
| Reported | Jan 26, 2026 | – |
| Operating cash flow | -$49.0M | -$1.40M |
| Capital expenditures | $37.4M | – |
| Free cash flow | -$86.3M | – |
| Depreciation and amortization | $763.0K | – |
| Stock-based compensation | $8.76M | – |
| Share buybacks | – | $246.9M |
| Investing cash flow | -$139.6M | $246.9M |
| Financing cash flow | $531.7M | -$245.8M |
| Ratio | ||
| Stock-based compensation, % of revenue | 533.2% | – |
Shares outstanding
Common shares outstanding as stated on the cover of each 10-K and 10-Q. The date is the cover date, not the period end; a rising count means dilution.
Notes and known gaps
How these numbers are put together, and what they can't tell you.
- Numbers come from the XBRL data in each period's original 10-K, 10-Q, 20-F or 40-F, or its amendment. They are shown as filed: later filings don't restate earlier periods here.
- Reported is the filing date of the first 8-K with Item 2.02 (results of operations) after the period ended, no later than the 10-Q or 10-K and within 120 days. Companies that release results only in the 10-Q, and foreign companies, which use Form 6-K, have none.
- A column marked ! failed an accounting identity (gross profit = revenue − cost of revenue, or assets = liabilities + equity, within 1%). Its numbers are shown as filed.
Known gaps
- Foreign companies that file Form 20-F or 40-F have annual statements only: their quarterly results are furnished on Form 6-K, which has no XBRL data.
- EPS and share counts are as reported at the time, not adjusted for later stock splits.
- For ADRs, EPS is per ordinary share, not per ADS (one TSMC ADS is five ordinary shares).
- For banks, revenue may be interest income only, depending on how the bank tags its filings; cost of revenue and gross profit are usually blank.
- Companies with several share classes, such as Berkshire Hathaway, may have no EPS and no cover share count.
- Depreciation and amortization is missing for some companies that report it under their own XBRL tags.