Earnings summaries and quarterly performance for USA Rare Earth.
Executive leadership at USA Rare Earth.
Board of directors at USA Rare Earth.
Research analysts who have asked questions during USA Rare Earth earnings calls.
Recent press releases and 8-K filings for USAR.
USAR Reports Q3 2025 Results and Strategic Progress
USAR
Earnings
M&A
New Projects/Investments
- USA Rare Earth reported a net loss attributable to common stockholders of $156.7 million, or $1.64 per share, for Q3 2025, with an adjusted net loss of $14.3 million, or $0.25 per share, after excluding a non-cash fair value adjustment.
- The company ended Q3 2025 with $257.7 million in cash and no significant debt, and expects an additional $123 million from the exercise of remaining investor warrants.
- The acquisition of LCM Less Common Metals is on track to close by year-end 2025, which is expected to significantly accelerate USA Rare Earth's strategy and establish a fully integrated rare earth supply chain, with LCM's NDFEB strip cast capacity projected to expand from 1,500 to 2,000 metric tons by 2026.
- The Stillwater magnet manufacturing plant is preparing for commissioning in Q1 2026, with plans to invest approximately $100 million to enhance manufacturing capabilities and ramp Line 1 to 1,200 metric tons.
- USA Rare Earth is initiating the pre-feasibility study (PFS) for the Round Top development project, targeting completion around Q3 2026, and anticipates adjusted ongoing operating expenses for Q4 2025 to be between $13 million and $15 million.
Nov 6, 2025, 10:00 PM
USA Rare Earth reports Q3 2025 financial and operational updates
USAR
Earnings
M&A
New Projects/Investments
- USA Rare Earth reported a strong financial foundation with a $257 million cash position as of September 30, 2025, and is debt-free.
- The company plans to accelerate investments, with approximately $100 million allocated for additional Line 1a and Line 1b CAPEX and office expansion, and anticipates Q4 operating expenses of $13-$15 million.
- Strategic highlights include the transformational LCM acquisition, expected to close by year-end, and the commissioning of Line 1a, which is on track for Q1 2026.
- Operational progress includes moving Swarf Recycling to a pilot phase targeting Q1 2026 and initiating a Pre-Feasibility Study (PFS) at Round Top in Q4 2025, with completion targeted for 2H 2026.
Nov 6, 2025, 10:00 PM
USA Rare Earth, Inc. Reports Q3 2025 Financial Results
USAR
Earnings
M&A
New Projects/Investments
- For the third quarter ended September 30, 2025, USA Rare Earth, Inc. reported a net loss attributable to the company of $(156,680) thousand and a diluted net loss per share of $(1.64).
- The company ended Q3 2025 with $258 million in cash and no significant debt, following a $125 million common equity investment received at quarter-end. Subsequent to quarter-end, the cash balance increased to over $400 million, primarily from an additional $163 million raised through warrant exercises.
- USA Rare Earth entered into a definitive agreement to acquire Less Common Metals Ltd. (LCM), a manufacturer of specialized rare earth metals and alloys.
- The Stillwater, Oklahoma magnet facility remains on track for commissioning of commercial scale production in Q1 2026, and the Pre-Feasibility Study for the Round Top development project is targeted for completion in H2 2026.
Nov 6, 2025, 9:14 PM
USA Rare Earth, Inc. Announces Redemption of Warrants
USAR
Delisting/Listing Issues
- USA Rare Earth, Inc. (USAR) has announced the redemption of all its outstanding warrants (USARW), effective December 1, 2025, at a redemption price of $0.01 per warrant.
- Warrants that remain unexercised by 5:00 p.m. New York City time on December 1, 2025, will be void, with holders only entitled to the redemption price.
- The company is exercising this right because its Common Stock (USAR) closing price met the condition of being at least $18.00 per share on 20 trading days within the 30-day trading period ending October 27, 2025.
- Each warrant allows the holder to purchase one share of Common Stock at an exercise price of $11.50; on October 29, 2025, the Common Stock (USAR) closed at $20.10 and the Warrants (USARW) closed at $8.75.
Oct 30, 2025, 10:05 AM
USA Rare Earth Announces Acquisition of LCM and New CEO Appointment
USAR
M&A
CEO Change
New Projects/Investments
- USA Rare Earth announced the acquisition of LCM for $100 million in cash and 6.74 million shares of USA Rare Earth common stock. The company also raised $125 million through a common share PIPE issuance at $15 per share, bringing its cash on hand to nearly $250 million.
- The acquisition of LCM, described as the only ex-China producer of rare earth metal, alloys, and strip casting at proven scale and the only producer of samarium metal outside of China, is expected to complete an integrated mine-to-magnet solution and return rare earth metal making capabilities to the United States.
- Additionally, Barbara Humton was appointed as the new CEO of USA Rare Earth, effective October 1.
Sep 29, 2025, 12:30 PM
USA Rare Earth to Acquire Less Common Metals
USAR
M&A
New Projects/Investments
- USA Rare Earth (USAR) announced its intent to acquire Less Common Metals (LCM) for $217 million, comprising $100 million in cash and 6.74 million shares of USAR common stock. Approximately $250 million in cash has been secured to finance the cash portion of the transaction and growth plans.
- The acquisition, expected to close by the end of the calendar year , aims to establish USAR as the leading, scaled rare earth element (REE) metal and alloy manufacturer outside of China.
- This transaction secures a critical link in USAR's supply chain, completing its mine-to-magnet strategy and de-risking operational performance.
- LCM is highlighted as a premier non-Chinese REE metal and alloy maker with 30 years of operating experience, unique capabilities for metal making from recycled magnet oxides, and is the only Samarium metal producer outside of China.
Sep 29, 2025, 12:30 PM
USA Rare Earth Announces CEO Change, Acquisition of LCM, and Equity Investment
USAR
CEO Change
M&A
New Projects/Investments
- USA Rare Earth, Inc. (USAR) has entered into a definitive agreement to acquire Less Common Metals (LCM) for $100 million in cash and 6.74 million shares of USAR common stock. This acquisition, announced on September 29, 2025, is expected to accelerate USAR's mine-to-magnet strategy by establishing an end-to-end rare earth supply chain.
- The company also received a $125 million common equity investment from an existing shareholder at $15.00 per share. These funds, combined with the company's current cash balance, will provide capital to execute USAR's growth plans.
- Barbara Humpton has been appointed as the new Chief Executive Officer of USA Rare Earth, effective October 1, 2025, succeeding Josh Ballard. Ms. Humpton's compensation includes an annual base salary of $750,000 and RSU grants with a total grant date value of $10,000,000.
Sep 29, 2025, 11:04 AM
USA Rare Earth Outlines Strategy for Domestic Rare Earth Supply Chain and Magnet Production
USAR
New Projects/Investments
Hiring
- USA Rare Earth (USAR) is focused on establishing a domestic supply chain for rare earth minerals and magnets, aiming to address China's 90-98% control of the global market. The company's key assets include an 80% interest in Round Top Mountain, a heavy rare earth deposit, and a magnet manufacturing facility in Stillwater, Oklahoma.
- The Stillwater magnet facility is finalizing its initial 600 metric tons of production (Phase 1a), with commissioning expected in Q1 next year (2026). The facility has a total capacity of 5,000 metric tons, with potential to expand to 10,000 metric tons.
- USAR is actively engaging with customers, with 70 customers in its pipeline and 12 MOUs signed, representing 5,000 to 7,000 metric tons of demand. The company anticipates announcing purchase orders in the next three to four months.
- The company has a strong financial position with $130 million in cash on its balance sheet, having raised over $140 million in the last six months. Approximately $60 million in CapEx is planned for Q3 and Q4 (2025).
- USAR is in discussions with various U.S. government entities for potential grants, loans, or equity, positioning itself as a complementary supplier of heavy rare earths for defense and other critical industries.
Aug 26, 2025, 7:20 PM
Quarterly earnings call transcripts for USA Rare Earth.
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