The latest financial statement is for the quarter ending 2026-03-31.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Net (loss) income | -68,068 | -50,499 | -156,994 | -142,713 |
| Equity-based compensation expense | 4,939 | 4,469 | 3,009 | 0 |
| Depreciation | 629 | 330 | 108 | 102 |
| Amortization of other intangible assets | 1,357 | 678 | - | - |
| Amortization of right of use assets | - | 94 | 106 | 103 |
| Non-cash interest expense | - | - | - | 0 |
| Amortization of discount on note payable | - | 0 | 0 | 0 |
| Settlement of litigation through the issuance of common shares | - | 0 | - | 1,674 |
| Amortization of right of use assets | 118 | - | - | - |
| Loss (gain) on fair market value of financial instruments | -43,553 | -27,837 | -142,426 | -74,362 |
| Impairment of equity investment | - | 0 | - | - |
| Non-cash interest expense | - | 192 | - | - |
| Other non-cash adjustments | 56 | -1,066 | 2,072 | 419 |
| Accounts receivable | 1,927 | 599 | - | - |
| Inventories | 4,720 | 3,206 | - | - |
| Prepaid and other assets | 2,984 | 916 | 62 | -315 |
| Accounts payable | 5,273 | -2,084 | -618 | -1,176 |
| Accrued and other liabilities | 3,818 | -3,933 | 9,228 | -1,212 |
| Deferred tax liability | -536 | -161 | - | - |
| Contract liabilities | -123 | -476 | - | - |
| Lease liability | -55 | -182 | -377 | -72 |
| Notes payable | - | 334 | - | - |
| Deferred grant income | 214 | - | - | - |
| Net cash used in operating activities | -18,456 | -27,898 | -2,849 | -7,909 |
| Iorm acquisition, net of cash received | - | 102,207 | - | - |
| Capital expenditures and equipment deposits | 38,641 | 23,961 | 7,101 | 6,297 |
| Other | - | 0 | 0 | - |
| Net cash used in investing activities | -38,641 | -126,168 | -7,101 | -3,247 |
| Proceeds from issuance of preferred stock and warrants-Series A1A2Preferred Stock | - | 0 | 0 | 15,250 |
| Proceeds from issuance of preferred stock and warrants-Series APreferred Stock | - | 0 | 0 | 8,000 |
| Payments of stock issuance costs-Series APreferred Stock | - | 0 | 0 | 400 |
| Proceeds from issuance of usare llc preferred units | 0 | - | - | - |
| Payments of stock issuance costs-Class C1Convertible Preferred Stock | - | 0 | 0 | 0 |
| Payment of issuance cost for usare llc preferred units | 0 | - | - | - |
| Ipxx contribution of capital through merger | 0 | 0 | 0 | 0 |
| Prepayment of forward purchase agreements | 0 | 1 | 0 | 0 |
| Proceeds from termination of forward purchase agreements | 0 | 1 | 0 | 20,789 |
| Payment of securities issuance costs | 51,003 | 0 | 0 | 8,281 |
| Proceeds from issuance of common stock under pipe financing | 1,500,000 | 0 | 119,899 | 70,178 |
| Proceeds from exercise of warrants | 68 | 256,314 | 25,580 | 21,951 |
| Repayment of revolving credit facility | 1,849 | - | - | - |
| Financed leases | -70 | 68 | 289 | - |
| Net cash provided by financing activities | 1,447,146 | 256,382 | 145,768 | 109,596 |
| Effect of exchange rate differences on cash and cash equivalents | -330 | - | - | - |
| Net change in cash and cash equivalents | 1,389,719 | 102,316 | 135,818 | 105,030 |
| Cash and cash equivalents, beginning of year | 359,925 | 257,609 | 121,791 | 23,351 |
| Cash and cash equivalents, end of period | 1,749,644 | 359,925 | 257,609 | 121,791 |
USA Rare Earth, Inc. (USAR)
USA Rare Earth, Inc. (USAR)