v3.26.1
Consolidated Statements of Mezzanine Equity and Stockholders' Equity - USD ($)
shares in Thousands, $ in Thousands
Total
Preferred Stock
Subscription Receivable
Common Stock
Common Stock
Common Stock
Common Stock
Common Stock
Retroactive application of recapitalization
Common Stock
Common Stock
As adjusted
Common Stock
Common Units Class A
Common Stock
Common Units Class A
Retroactive application of recapitalization
Common Stock
Common Units Class A
As adjusted
Common Stock
Common Units Class B
Common Stock
Common Units Class B
Retroactive application of recapitalization
Common Stock
Common Units Class B
As adjusted
Common Stock
Convertible Preferred Units Class C
Common Stock
Convertible Preferred Units Class C
Retroactive application of recapitalization
Common Stock
Convertible Preferred Units Class C
As adjusted
Common Stock
Convertible Preferred Units Class C-1
Common Stock
Convertible Preferred Units Class C-1
Retroactive application of recapitalization
Common Stock
Convertible Preferred Units Class C-1
As adjusted
Additional Paid-In Capital
Additional Paid-In Capital
Retroactive application of recapitalization
Additional Paid-In Capital
As adjusted
Additional Paid-In Capital
Preferred Stock
Additional Paid-In Capital
Common Stock
Accumulated Other Comprehensive Income
Subscription Receivable
Accumulated Deficit
Accumulated Deficit
Retroactive application of recapitalization
Accumulated Deficit
As adjusted
Non-Controlling Interest
Non-Controlling Interest
Retroactive application of recapitalization
Non-Controlling Interest
As adjusted
Balances, beginning of period (in shares) at Dec. 31, 2023 [1]   0                                                            
Balances, beginning of period at Dec. 31, 2023 $ 0 $ 0 $ 0                                                          
Increase (Decrease) in Temporary Equity [Roll Forward]                                                                
USARE LLC Convertible Preferred unit dividends (in shares) [1]   116                                                            
USARE LLC Convertible Preferred unit dividends   $ 706                                                            
Issuance of preferred stock and warrants, net of issuance costs (in shares) [1]   2,623                                                            
Issuance of preferred stock and warrants, net of issuance costs   $ 20,467 (1,250)                                                          
Conversions (in shares) [2]         878                                                      
Balances, end of period (in shares) at Dec. 31, 2024 2,739 2,739 [1]                                                            
Balances, end of period at Dec. 31, 2024 $ 19,923 [3] $ 21,173 (1,250)                                                          
Common stock balances, beginning of period (in shares) at Dec. 31, 2023 [2]         0 59,213 59,213 206,520 (206,520) 0 20,779 (20,779) 0 54,592 (54,592) 0 7,861 (7,861) 0                          
Balances, beginning of period at Dec. 31, 2023 42,484       $ 0 $ 6 $ 6 $ 3,704 $ (3,704) $ 0 $ 3,189 $ (3,189) $ 0 $ 73,079 $ (73,079) $ 0 $ 13,404 $ (13,404) $ 0 $ 0 $ 93,370 $ 93,370         $ (54,223) $ 0 $ (54,223) $ 3,331 $ 0 $ 3,331
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                                
Equity-based compensation                                       1,738                        
Convertible Preferred dividends                                       2,239                        
Issuance of warrants                                       6,897                        
USARE LLC Convertible Preferred dividends                                                     (2,945)          
Conversion of 12% Series A Convertible Preferred Stock (in shares) [2]         878                                                      
Dilution of non-controlling interest                                                     31     (31)    
Net loss attributable to USA Rare Earth, Inc. $ (16,392)                                                   (15,735)     (657)    
Common stock balances, end of period (in shares) at Dec. 31, 2024 60,091     60,091 60,091 [2]                                                      
Balances, end of period at Dec. 31, 2024 $ 34,021 [3]     $ 6 $ 6                             104,244         $ 0 $ 0 (72,872)     2,643    
Increase (Decrease) in Temporary Equity [Roll Forward]                                                                
USARE LLC Convertible Preferred unit dividends (in shares)   84                                                            
USARE LLC Convertible Preferred unit dividends   $ 1,082                                                            
Issuance of preferred stock and warrants, net of issuance costs (in shares)   1,495                                                            
Issuance of preferred stock and warrants, net of issuance costs   $ 6,283                                                            
Shares issue in reverse recapitalization   915                                                            
Shares issue in reverse recapitalization   $ 6,989 1,250                                                          
Deferred offering costs   (3,237)                                                            
Deemed dividend and accretion to redemption value   $ 26,968                                                            
Conversions (in shares)   (4,009)   7,128                                                        
Conversions   $ (50,353)                                   50,352                        
Balances, end of period (in shares) at Dec. 31, 2025 1,224 1,224                                                            
Balances, end of period at Dec. 31, 2025 $ 8,905 [3] $ 8,905 $ 0                                                          
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                                
Equity-based compensation                                       7,919                        
Extinguishment of note payable                                       1,506                        
USARE LLC Convertible Preferred unit dividends (in shares)       182                                                        
Shares issued in reverse merger recapitalization (in shares)       21,679                                                        
Shares issued in reverse merger recapitalization       $ 2                               27,718             (16,954)          
Convertible Preferred dividends                                       (1,082)                        
Stock issuance                                             $ 5,367 $ 2,481                
Deferred offering costs                                       (4,234)                        
Deemed dividend - preferred accretion to redemption value                                       (26,968)                        
IORM common stock issuances (in shares)       6,544                                                        
IORM common stock issuances       $ 1                               94,557                        
Conversion of 12% Series A Convertible Preferred Stock (in shares)   (4,009)   7,128                                                        
Conversions of 12% Series A Cumulative Convertible Preferred Stock   $ (50,353)                                   50,352                        
Exercise of warrants (in shares)       37,982                                                        
Exercise of warrants       $ 4                               631,444                        
PIPE financing (in shares)       16,883                                                        
PIPE financing       $ 2                               119,904                        
Other issuances (in shares)       (2,434)                                                        
Earnout liability                                       (99,639)                        
Conversion of Series A warrants into liability-classified warrants                                       (34,612)                        
Translation adjustment                                                 130              
Forward purchase agreements prepayment                                       (351)           (20,389)            
Early termination of forward purchase agreements                                       399           20,391            
Accretion of forward purchase agreements                                       2           (2)            
Other issuances / Transaction bonus                                       841                        
Dilution of non-controlling interest                                                     25     (25)    
Net loss attributable to USA Rare Earth, Inc. $ (298,524)                                                   (297,559)     (965)    
Common stock balances, end of period (in shares) at Dec. 31, 2025 148,055     148,055                                                        
Balances, end of period at Dec. 31, 2025 $ 494,286 [3]     $ 15                               $ 879,848         $ 130 $ 0 $ (387,360)     $ 1,653    
[1] The shares of the Company’s preferred stock prior to the Merger have been retrospectively recast to reflect the change in the capital structure as a result of the Merger.
[2] The shares of the Company’s common stock, common stock units and preferred stock units prior to the Merger have been retrospectively recast to reflect the change in the capital structure as a result of the Merger.
[3] Fiscal 2024 Recast