| Cash Flow | 2025-09-30 | 2025-06-30 |
|---|---|---|
| Net loss | -248,025 | - |
| Equity-based compensation | 4,291 | 1,282 |
| Depreciation | 243 | 135 |
| Amortization of right of use assets | 241 | 135 |
| Settlement of litigation through the issuance of common shares | - | 1,674 |
| Amortization of discount on note payable | 0 | 0 |
| Loss (gain) on fair market value of financial instruments | -216,788 | -74,362 |
| Other non-cash adjustments | 2,491 | 419 |
| Non-cash interest expense | - | 73 |
| Prepaid and other assets | 1,097 | 1,035 |
| Accounts payable | -3,403 | -2,785 |
| Accrued and other liabilities | 7,864 | -1,364 |
| Lease liability | -480 | -103 |
| Net cash used in operating activities | -21,087 | -18,238 |
| Capital expenditures and equipment deposits | 13,398 | 6,297 |
| Other | 0 | - |
| Net cash used in investing activities | -13,398 | -6,297 |
| Proceeds from issuance of preferred stock and warrants-Series A1A2Preferred Stock | 15,250 | 15,250 |
| Proceeds from issuance of preferred stock and warrants-Series APreferred Stock | 8,000 | 8,000 |
| Payments of stock issuance costs-Series APreferred Stock | 400 | 400 |
| Payments of stock issuance costs-Class C1Convertible Preferred Stock | 0 | 0 |
| Ipxx contribution of capital through merger | 22,867 | 22,867 |
| Prepayment of forward purchase agreements | 20,789 | 20,789 |
| Proceeds from termination of forward purchase agreements | 20,789 | 20,789 |
| Payment of securities issuance costs | 8,281 | 8,281 |
| Proceeds from issuance of common stock and warrants under pipe financing, net | 190,077 | 70,178 |
| Proceeds from exercise of warrants | 47,531 | 21,951 |
| Financed leases | 289 | - |
| Net cash provided by financing activities | 275,333 | 129,565 |
| Net change in cash and cash equivalents | 240,848 | 105,030 |
| Cash and cash equivalents at beginning of period | 16,761 | - |
| Cash and cash equivalents at end of period | 257,609 | - |
USA Rare Earth, Inc. (USARW)
USA Rare Earth, Inc. (USARW)