โ
๐ ๐๐๐ฌ๐ฎ๐ฅ๐ญ๐ฌ
โข Revenue: $147.7M (+176% YoY)
โข Revenue + Price Protection Income: $155.8M
โข GAAP EPS: -$0.12 vs. -$0.24 YoY
โข Adjusted EPS: $0.04 vs. -$0.10 YoY
โข GAAP Net Loss: -$20.7M vs. -$41.8M YoY
โข Adjusted Net Income: $8.8M vs. -$17.8M YoY
โข Adjusted EBITDA: $41.1M vs. -$12.6M YoY
โข Operating Loss: -$22.1M vs. -$67.0M YoY
โข Cash & Short-Term Investments: $1.34B
โ
๐ฏ ๐๐ฎ๐ญ๐ฅ๐จ๐จ๐ค
โข GM Magnet Deliveries & Revenue: Beginning Q4 2026
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๐ ๐๐๐ฒ ๐๐๐ค๐๐๐ฐ๐๐ฒ๐ฌ
โข NdPr production increased 41% to 1,018 metric tons
โข NdPr sales volume surged 94% to 1,020 metric tons
โข NdPr oxide and metal revenue jumped 227% to $101.0M
โข Materials segment revenue surged 322% to $133.5M
โข Materials adjusted EBITDA reached $47.8M vs. -$14.5M YoY
โข Magnetics segment revenue declined 15% to $18.6M, with adjusted EBITDA falling 44% to $5.3M
โข Completed General Motors magnet qualification, clearing the way for commercial deliveries in Q4
โข $31.6M sale of SEG+ rare earth materials to a U.S. aerospace and defense customer contributed to quarterly growth
โข Price protection agreement generated $8.1M in additional income
โข Rare earth concentrate production declined 3% to 12,887 metric tons
โข Initial magnet production ramp-up increased start-up costs to $14.2M from $1.4M YoY
โข Nine-month operating cash outflow improved to $7.8M from $108.9M YoY
โข Nine-month capital expenditures surged to $420.3M from $110.0M YoY
โข Cash and short-term investments declined from $1.83B at year-end 2025 to $1.34B
โข Long-term debt stood at $936.3M
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๐ฌ ๐๐๐ง๐๐ ๐๐ฆ๐๐ง๐ญ ๐๐จ๐ฆ๐ฆ๐๐ง๐ญ๐๐ซ๐ฒ
โMost importantly, we completed the GM qualification process, with saleable magnet deliveries and revenue beginning in the fourth quarter.โ - CEO James Litinsky