---
schema_version: "secwatch.filing_event.v1"
accession: "0001970622-26-000019"
form_type: "8-K"
ticker: "USAR"
cik: "0001970622"
company_name: "USA Rare Earth, Inc."
filed_at: "2026-03-30T23:59:59+00:00"
generated_at: "2026-05-15T08:27:50.758498+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# USA Rare Earth FY2025 operating loss $59.5M; year-end cash $360M; $1.5B PIPE closed

## Summary
- FY2025 operating loss $59.5M, net loss $297.6M ($3.31 diluted EPS); adjusted net loss $80.0M ($0.82/share).
- Year-end cash $359.9M; subsequent $1.5B PIPE closed Jan 2026 boosts balance to ~$1.75B.
- Expects to finalize $1.6B DoC CHIPS award in April 2026 to accelerate mine-to-magnet value chain.
- Acquired Less Common Metals (Nov 2025); commissioning Stillwater magnet Phase 1a in Q2 2026 with 600 MTPA by Q4 2026.
- Agreed to acquire TMRC to consolidate Round Top; new CLO, Global Policy Officer, and board member appointed.

## SEC filing metadata
- accession: 0001970622-26-000019
- form_type: 8-K
- ticker: USAR
- cik: 0001970622
- company_name: USA Rare Earth, Inc.
- filed_at: 2026-03-30T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1970622/000197062226000019/0001970622-26-000019-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1970622/000197062226000019/usar-20260330.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001970622-26-000019
- JSON: https://secwatch.observer/filing/0001970622-26-000019.json
- Plain text: https://secwatch.observer/filing/0001970622-26-000019.txt

## Key facts
- Earnings Releases
  USA Rare Earth, Inc. reported financial results for the fourth quarter and year ended December 31, 2025.
  - Period: the fourth quarter and year ended December 31, 2025
  - Result: reported results
  source text: On March 30, 2026, USA Rare Earth, Inc. (the “Company”) issued an earnings press release announcing its financial results for the fourth quarter and year ended December 31, 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1970622/000197062226000019/0001970622-26-000019-index.htm

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