MP Materials Earnings Reports

MP Materials delivered a mixed third quarter in 2025, with consolidated revenue declining by 15% year-over-year to $53.6 million, primarily due to the cessation of rare earth concentrate sales to China. However, the company achieved record NdPr production and saw substantial growth in its Magnetics Segment, which generated $21.9 million in revenue. Despite a net loss of $41.8 million, the company anticipates a return to profitability in Q4 2025 and beyond, driven by new agreements and scaling magnet production.

MP Materials demonstrated strong performance in Q2 2025 with an 84% year-over-year revenue increase to $57.4 million, driven by higher production and sales of separated rare earth products. The company achieved record NdPr production and its second-highest REO production, while the Magnetics Segment began profitably ramping metal production and contributed significantly to revenue.

MP Materials delivered strong execution in Q1 2025 with a 25% increase in total revenue year over year, driven by higher production and sales volumes of separated rare earth products, particularly NdPr oxide and metal. The company also began recognizing revenue from its new Magnetics division.

MP Materials reported Q4 2024 revenue of $61.0 million, up 48% year-over-year. The company produced 11,478 metric tons of REO in concentrate and sold 7,803 metric tons. NdPr oxide and metal sales significantly increased, with 468 metric tons sold, but higher production costs and lower realized prices led to a net loss of $22.3 million and an adjusted net loss of $18.9 million. The company also commenced commercial production of NdPr metal and trial production of automotive-grade magnets.

MP Materials reported a 20% year-over-year increase in revenue to $62.9 million, driven by increased NdPr sales volumes and a rise in REO concentrate sales volumes. The company achieved record REO production of 13,742 metric tons. However, the company experienced a net loss of $25.5 million and an adjusted EBITDA of $(11.2) million, impacted by higher cost of sales and increased operating expenses.