MP Materials Q3 revenue rises 20% to $62.9 million, but net loss widens to $25.5 million
MP Materials reported third-quarter 2024 revenue of $62.9 million, up 20% from a year earlier, driven by sales of separated NdPr. Profit measures worsened: the net loss was $25.5 million, or $(0.16) per diluted share, compared with a $4.3 million loss a year earlier, and Adjusted EBITDA was a $11.2 million loss versus $15.6 million of positive Adjusted EBITDA. For shareholders, the revenue growth came with higher cost of sales from early separated product production.
Key points
- Revenue rose 20% year-over-year to $62.9 million, from $52.5 million, as NdPr sales volume reached 404 metric tons.
- Net loss was $25.5 million, versus a $4.3 million loss in the third quarter of 2023; diluted EPS was $(0.16) versus $(0.02).
- Adjusted EBITDA was $(11.2) million, down $26.7 million year-over-year, mainly due to higher cost of sales from initial separated product production.
- Record REO production of 13,742 metric tons rose 28% year-over-year; the company repurchased 13.0 million shares in March and 2.2 million shares in August 2024.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 12:58 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 07, 2024.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.