---
schema_version: "secwatch.filing_event.v1"
accession: "0001970622-25-000073"
form_type: "8-K"
ticker: "USAR"
cik: "0001970622"
company_name: "USA Rare Earth, Inc."
filed_at: "2025-11-06T23:59:59+00:00"
generated_at: "2026-05-17T00:02:46.227357+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# USA Rare Earth Q3 net loss $156.7M; cash >$400M; magnet facility on track for Q1 2026

## Summary
- GAAP net loss $156.7M ($1.64/share); adjusted net loss $25.6M ($0.25/share); operating loss $15.9M.
- Cash $257.6M at Q3 end; subsequent warrant exercises raised $163M, total cash >$400M; $123M potential from remaining warrants.
- Stillwater magnet facility on track for commercial production in Q1 2026; Round Top PFS targeted H2 2026.
- Entered definitive agreement to acquire Less Common Metals Ltd (LCM) for rare earth metals and alloys.
- Signed MOU with Enduro for neo magnets delivery in early 2026; JDA with ePropelled for sintered neo magnets.

## SEC filing metadata
- accession: 0001970622-25-000073
- form_type: 8-K
- ticker: USAR
- cik: 0001970622
- company_name: USA Rare Earth, Inc.
- filed_at: 2025-11-06T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1970622/000197062225000073/0001970622-25-000073-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1970622/000197062225000073/usar-20251106.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001970622-25-000073
- JSON: https://secwatch.observer/filing/0001970622-25-000073.json
- Plain text: https://secwatch.observer/filing/0001970622-25-000073.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.