v3.26.1
Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Income Statement [Abstract]        
Revenue $ 5,821 $ 0 $ 11,519 $ 0
Cost of revenue 7,404 0 12,996 0
Gross loss (1,583) 0 (1,477) 0
Operating expenses:        
Selling, general and administrative 32,607 6,227 53,782 13,256
Research and development 10,768 2,577 25,017 4,266
Amortization of intangible assets 1,356 0 2,713 0
Total operating expenses 44,731 8,804 81,512 17,522
Loss from operations (46,314) (8,804) (82,989) (17,522)
Other income (expense), net        
Interest income 370 765 472 952
Dividend income 14,581 0 26,449 0
Grant income 240 0 446 0
(Loss) gain on fair market value of financial instruments, net 22,418 (134,662) (21,135) (74,362)
Interest expense and other expense, net (3,771) (12) (4,364) (99)
Total other income (expense), net 33,838 (133,909) 1,868 (73,509)
Loss before income taxes (12,476) (142,713) (81,121) (91,031)
Benefit from income taxes (513) 0 (1,090) 0
Net loss (11,963) (142,713) (80,031) (91,031)
Net loss attributable to non-controlling interest (1,630) (207) (2,709) (357)
Net loss attributable to USA Rare Earth, Inc. (10,333) (142,506) (77,322) (90,674)
Other comprehensive loss, net of tax        
Foreign currency translation adjustments (727) 0 (1,057) 0
Comprehensive loss attributable to USA Rare Earth, Inc. $ (11,060) $ (142,506) $ (78,379) $ (90,674)
Net loss per share attributable to USA Rare Earth, Inc.:        
Basic (in Dollars per share) $ (0.05) $ (1.54) $ (0.37) $ (0.99)
Diluted (in Dollars per share) $ (0.05) $ (1.54) $ (0.37) $ (0.99)
Number of shares used in per share calculations:        
Basic (in shares) 230,081 92,769 213,347 91,598
Diluted (in shares) 230,081 92,769 213,347 91,598