MP Materials Q2 revenue rises 89% to $108.5 million; net loss narrows
MP Materials reported second-quarter 2026 results for the three months ended June 30, 2026, with revenue up 89% year over year and a smaller net loss than a year earlier. The company still posted a net loss of $20.3 million, and start-up costs rose to $14.4 million from $0.8 million, as magnet production ramps at Independence. The results show higher NdPr sales volumes and a swing to positive Adjusted EBITDA, which matters to shareholders because the company remains unprofitable on a GAAP basis.
Key points
- Revenue of $108.5 million, up 89% from $57.4 million in the second quarter of 2025.
- Net loss of $20.3 million, or $0.11 per diluted share, versus a net loss of $30.9 million, or $0.19 per share, a year earlier.
- Adjusted EBITDA of $28.5 million, compared with a loss of $12.5 million in the prior-year quarter, including $17.6 million of price protection agreement income.
- NdPr sales volume of 1,006 metric tons, up 127% year over year.
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 August 06, 2026.
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.