MP Materials Corp. / DE income statement
In fiscal 2025, MP Materials Corp. / DE reported revenue of $224m, up 10.1% on the year before, operating income of −$149m (a -66.6% margin) and net income of −$85.9m, or −$0.50 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 73 | 134 | 332 | 528 | 253 | 204 | 224 | 305 |
| Selling, general and administrative | — | 27 | 57 | 76 | 79 | 83 | 112 | 129 |
| General and administrative | 11 | — | — | — | — | — | — | — |
| Operating income | −8 | −35 | 165 | 327 | −18 | −169 | −149 | −127 |
| Interest expense | 3 | 5 | 9 | 6 | 5 | 23 | 31 | 38 |
| Net interest income | — | −5 | −9 | −6 | −5 | — | — | — |
| Income before tax | −7 | −39 | 160 | 341 | 33 | −93 | −118 | −91 |
| Income tax | 0 | −18 | 25 | 52 | 9 | −28 | −32 | −30 |
| Net income | −7 | −22 | 135 | 289 | 24 | −65 | −86 | −61 |
| Diluted EPS | −$0.10 | −$0.27 | $0.73 | $1.52 | $0.14 | −$0.57 | −$0.50 | −$0.34 |
| Diluted shares (average) | 67m | 80m | 190m | 193m | 178m | 170m | 170m | 177m |
| EBITDA | −3 | −28 | 190 | 346 | 38 | −91 | −60 | −12 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 63 | 61 | 61 | 57 | 54 | 53 | 91 | 108 |
| Selling, general and administrative | 22 | 19 | 24 | 27 | 28 | 32 | 34 | 35 |
| Operating income | −40 | −44 | −35 | −44 | −67 | −4 | −24 | −32 |
| Interest expense | 7 | 7 | 8 | 5 | 9 | 10 | 10 | 10 |
| Income before tax | −35 | −34 | −27 | −43 | −58 | 11 | −14 | −29 |
| Income tax | −9 | −12 | −5 | −12 | −17 | 1 | −6 | −9 |
| Net income | −26 | −22 | −23 | −31 | −42 | 9 | −8 | −20 |
| Diluted EPS | −$0.16 | −$0.13 | −$0.14 | −$0.19 | −$0.24 | $0.07 | −$0.04 | −$0.11 |
| EBITDA | −20 | −22 | −13 | −23 | −45 | 21 | 8 | 3 |
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