MP Materials Q4 revenue rises 48% to $61.0 million, but net loss widens to $22.3 million
MP Materials reported fourth-quarter 2024 revenue of $61.0 million, up 48% from a year earlier, while its net loss widened to $22.3 million from $16.3 million. For full year 2024, revenue fell 20% to $203.9 million and the company swung to a net loss of $65.4 million, compared with net income of $24.3 million in 2023. Higher production costs as separated rare earth products ramped up drove the decline in profitability, which matters to shareholders because the company is still in its production ramp.
Key points
- Q4 2024 revenue $61.0 million, up 48% year over year; Q4 net loss $22.3 million versus $16.3 million a year earlier
- Q4 Adjusted EBITDA was $(10.7) million, down $12.0 million year over year, driven mainly by elevated production costs
- Full year 2024 revenue $203.9 million, down 20%; net loss $65.4 million versus net income of $24.3 million in 2023
- Full year 2024 diluted EPS was $(0.57) versus $0.14 in 2023; the company repurchased 15.2 million shares in 2024
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 12:59 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 February 20, 2025.
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.