USA Rare Earth Reports Third Quarter 2026 Financial Results
Key Highlights
- ➤Cash, cash equivalents and restricted cash reached $1.2 billion
- ➤Q3 revenue totaled $3.0 million
- ➤Serra Verde began commercial-scale MREC shipments in October
- ➤Stillwater generated first revenue from NdFeB permanent magnet sales
- ➤Blacksburg facility represents an approximately $1.2 billion investment
Expert Statements
Thras Moraitis, CEO of USA Rare Earth
“The third quarter marked a series of significant operational and commercial milestones, reflecting the growing positive momentum at USA Rare Earth. This progress was further reinforced by the closing of the Serra Verde combination in September, which coincided with the completion of Stage 1 of Serra Verde’s optimization and expansion program, followed by the commencement of commercial-scale shipments in October and sales of MREC in November”
Thras Moraitis, CEO of USA Rare Earth
“Our magnet facility in Stillwater, Oklahoma, achieved a major milestone with its first commercial magnet sales. In July we produced our first samples of light and heavy rare earth oxide at Wheat Ridge, Colorado, followed by our first Yttrium oxide samples in October. In addition, we broke ground on our new metals and magnets facility in Blacksburg, South Carolina. Every link in our integrated value chain is beginning to gain momentum as we focus on executing against our operational, commercial and strategic objectives.”
Thras Moraitis, CEO of USA Rare Earth
“I am grateful to Barbara Humpton for the strong foundation she has built, and proud to lead this team as we build on that foundation, transforming it into an integrated platform that delivers meaningful results for our customers and investors. Demand for a secure and responsible supply of rare earth products is becoming increasingly acute across a broad range of technology-driven sectors. We have customers for products at every stage of our value chain, from rare earth carbonate and oxides to metals, alloys and specialist powders, and from our integrated permanent magnet value chain. Our task is to deliver these critical elements and products independently and reliably. My focus is on bringing our businesses together under a clear integrated operating model, with accountability for results at every level and a consistent commitment to delivering reliably for our customers. The milestones achieved over the last quarter are only the beginning. With an unwavering focus on customer needs, disciplined execution, operational excellence and responsible capital allocation, we are well positioned to become the multinational partner of choice for customers and governments seeking an independent and secure supply of rare earth products, while creating superior long-term value for our shareholders.”
Thras Moraitis, CEO of USA Rare Earth
“The products are priced in accordance with the offtake agreement, which is based on non-China prices. Recent non-China prices for Dy oxide are 14-16x higher than China prices, while non-China prices for Tb oxide are 6-8x higher than China prices.”
STILLWATER, Okla., Nov. 09, 2026 (GLOBE NEWSWIRE) -- USA Rare Earth, Inc. (Nasdaq: USAR) (the “Company” or “USA Rare Earth”), an integrated rare earth, critical minerals and advanced materials company, today announced its financial and operational results for the third quarter and nine months ended September 30, 2026.
“The third quarter marked a series of significant operational and commercial milestones, reflecting the growing positive momentum at USA Rare Earth. This progress was further reinforced by the closing of the Serra Verde combination in September, which coincided with the completion of Stage 1 of Serra Verde’s optimization and expansion program, followed by the commencement of commercial-scale shipments in October and sales of MREC in November” said Thras Moraitis, CEO of USA Rare Earth. “Our magnet facility in Stillwater, Oklahoma, achieved a major milestone with its first commercial magnet sales. In July we produced our first samples of light and heavy rare earth oxide at Wheat Ridge, Colorado, followed by our first Yttrium oxide samples in October. In addition, we broke ground on our new metals and magnets facility in Blacksburg, South Carolina. Every link in our integrated value chain is beginning to gain momentum as we focus on executing against our operational, commercial and strategic objectives.”
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