USA Rare Earth Inc Class a $USAR

Materials

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USA Rare Earth Inc Class a (USAR) is a Materials company in the Russell 2000. Latest news and coverage below.

USA Rare Earth Inc Class a revenue & net income history (FY2024–FY2025)

RevenueNet incomeNet margin (right axis, %)
$1.64M−$148.0M−$297.6MFY2024 revenue: $0FY2024 net income: −$15.7M'24FY2025 revenue: $1.64MFY2025 net income: −$297.6M · Net margin −18110.7%'25−100%−80%−60%−40%−20%0%FY2025 net margin: −18110.7% (off the scale, which stops at −100.0%)
USA Rare Earth Inc Class a annual financial statements
FY2024Dec 2024FY2025Dec 2025
Income statement
Revenue$0$1.64M
Gross profit$0$195.0K
Gross margin—11.9%
Operating income−$15.6M−$59.5M
Operating margin—−3621.6%
Net income−$15.7M−$297.6M
Net margin—−18110.7%
EPS (diluted)−$0.40−$3.31
Balance sheet
Cash and equivalents$16.8M$359.9M
Total assets$69.1M$695.0M
Total liabilities$15.1M$191.8M
Shareholders' equity−$17.0M$494.3M
Cash flow
Operating cash flow−$13.0M−$49.0M
Capital expenditure$3.11M$37.4M
Free cash flow−$16.1M−$86.3M
Share buybacks$246.9M—

From USA Rare Earth Inc Class a's 10-K and 10-Q filings with the SEC; its fiscal year ends in December. Each period shows the latest figure the company has reported for it, including restatements. Net margin is our own calculation from those reported figures (net income ÷ revenue); it is left blank where revenue is zero or missing. † Quarter derived from the company's year-to-date or full-year totals. Filings on SEC EDGAR →

About USA Rare Earth Inc Class a

Headquarters
Stillwater, Oklahoma From SEC filings, Oct 2026

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