USA Rare Earth Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Revenue	7.34	1.64	-	-
Cost of Revenue	7.04	1.45	-	-
Gross Profit	0.3	0.2	-	-
Selling, General & Admin	57.28	43.14	9.24	8.7
Depreciation & Amortization Expenses	2.04	0.68	-	0.31
Research & Development	28.45	15.89	6.34	1.64
Exploration Expenses	-	-	-	1.76
Other Operating Expenses	-	-	-	12.39
Total Operating Expenses	87.76	59.7	15.59	24.79
Operating Income	-87.46	-59.5	-15.59	-24.79
Interest Income	14.05	-	-	0.36
Interest Expense	-0.59	-5.45	-0.29	-0.08
Other Non-Operating Income (Expense)	-320.44	-244.63	-0.69	15.97
Total Non-Operating Income (Expense)	-56.51	-239.18	-0.81	16.26
Pretax Income	-119.3	-298.68	-16.39	-8.54
Provision for Income Taxes	-0.74	-0.16	-	-
Net Income	-416.38	-297.56	-15.74	-7.42
Minority Interest in Earnings	1.89	0.97	0.66	1.12
Net Income to Common	-416.38	-297.56	-15.74	-7.42
Shares Outstanding (Basic)	124	98	60	44
Shares Outstanding (Diluted)	124	98	60	44
Shares Change (YoY)	89.83%	64.64%	34.23%	-
EPS (Basic)	-3.92	-3.31	-0.40	-0.29
EPS (Diluted)	-3.92	-3.31	-0.40	-0.29
Shares Outstanding	217.98	148.06	60.09	31.25
Free Cash Flow	-130.06	-86.34	-16.1	-27.74
Free Cash Flow Per Share	-1.05	-0.88	-0.27	-0.63
Gross Margin	4.10%	11.87%	-	-
Operating Margin	-1191.39%	-3621.61%	-	-
Profit Margin	-927.23%	-18169.40%	-	-
FCF Margin	-1771.72%	-5255.26%	-	-
EBITDA	-84.93	-57.92	-14.99	-24.01
EBITDA Margin	-1156.94%	-3525.08%	-	-
EBIT	-87.46	-59.5	-15.59	-24.79
EBIT Margin	-1191.39%	-3621.61%	-	-
Effective Tax Rate	0.62%	0.05%	0.00%	0.00%