USA Rare Earth Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	-254.15	-15.74	-7.42	-23.84
Depreciation & Amortization	0.52	0.39	0.72	0.67
Other Amortization	0.06	0.21	0.07	-
Loss (Gain) From Sale of Assets	0.04	0.04	-	-
Loss (Gain) From Sale of Investments	0.41	0.41	-	1.35
Stock-Based Compensation	5.84	1.74	1.37	1.62
Other Operating Activities	219.32	-0.18	-17.04	-0.09
Change in Accounts Payable	-3.26	1.09	-2	0.32
Change in Unearned Revenue	-	-	4.83	3.37
Change in Other Net Operating Assets	6.64	-0.95	-2.46	1.8
Operating Cash Flow	-24.59	-12.99	-21.93	-14.8
Capital Expenditures	-14.43	-3.29	-5.96	-15.15
Investing Cash Flow	-14.21	-3.29	-5.96	-15.15
Long-Term Debt Issued	-	-	1	-
Net Debt Issued (Repaid)	0.29	-	1	-
Issuance of Common Stock	237.61	-	-	20.24
Other Financing Activities	12.28	-5.66	-0.19	2.02
Financing Cash Flow	273.43	19.84	14.11	22.26
Miscellaneous Cash Flow Adjustments	-	-	-0.36	-
Net Cash Flow	234.62	3.56	-14.14	-7.7
Free Cash Flow	-39.02	-16.28	-27.88	-29.95
Free Cash Flow Per Share	-0.53	-0.35	-0.63	-0.14
Levered Free Cash Flow	-22.39	-14.99	-24.65	-
Unlevered Free Cash Flow	-22.41	-15	-24.67	-
Change in Working Capital	3.38	0.14	0.37	5.49

Source: S&P Global Market Intelligence. Standard template. Financial Sources.