USA Rare Earth, Inc. (USAR)

USA Rare Earth Income Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023
Revenue	1.64	-	-
Cost of Revenue	1.45	-	-
Gross Profit	0.2	-	-
Selling, General & Admin	43.14	9.24	8.7
Depreciation & Amortization Expenses	0.68	-	0.31
Research & Development	15.89	6.34	1.64
Exploration Expenses	-	-	1.76
Other Operating Expenses	-	-	12.39
Total Operating Expenses	59.7	15.59	24.79
Operating Income	-59.5	-15.59	-24.79
Interest Income	-	-	0.36
Interest Expense	-5.45	-0.29	-0.08
Other Non-Operating Income (Expense)	-244.63	-0.69	15.97
Total Non-Operating Income (Expense)	-239.18	-0.81	16.26
Pretax Income	-298.68	-16.39	-8.54
Provision for Income Taxes	-0.16	-	-
Net Income	-297.56	-15.74	-7.42
Minority Interest in Earnings	0.97	0.66	1.12
Net Income to Common	-297.56	-15.74	-7.42
Shares Outstanding (Basic)	98	60	44
Shares Outstanding (Diluted)	98	60	44
Shares Change (YoY)	64.64%	34.23%	-
EPS (Basic)	-3.31	-0.40	-0.29
EPS (Diluted)	-3.31	-0.40	-0.29
Shares Outstanding	132.64	60.09	31.25
Free Cash Flow	-86.34	-16.1	-27.74
Free Cash Flow Per Share	-0.88	-0.27	-0.63
Gross Margin	11.87%	-	-
Operating Margin	-3621.61%	-	-
Profit Margin	-18169.45%	-	-
FCF Margin	-5255.26%	-	-
EBITDA	-57.92	-14.99	-24.01
EBITDA Margin	-3525.08%	-	-
EBIT	-59.5	-15.59	-24.79
EBIT Margin	-3621.61%	-	-
Effective Tax Rate	0.05%	0.00%	0.00%

Updated Mar 30, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.