Short answer
USA Rare Earth, Inc. (USAR) filed its Q2 2026 10-Q quarterly report on Aug 10, 2026 for the quarter ended Jun 30, 2026. Quarterly revenue was $6M with net income of −$10M.
Q2 2026 key financials · XBRL
- Revenue
- $6M
- +2.2% QoQ
- Net income
- −$10M
- +92.7% YoY · +84.6% QoQ
- Operating margin
- -795.6%
- EPS (diluted)
- −$0.03
- +98.1% YoY · +91.2% QoQ
Source: XBRL data from the USA Rare Earth, Inc. (USAR) Q2 2026 10-Q on SEC EDGAR. USD.
USA Rare Earth, Inc. Q2 2026 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Q2 revenue $5.8M, entirely from Less Common Metals; prior-year comparison not meaningful
- Gross margin negative 27.2%, versus no comparable 2025 operations; raw-material inflation and inventory adjustments drove gross loss $1.6M
- Europe largest market at $4.0M revenue; Asia weakest at $0.1M
- Commerce agreements included $277.0M direct funding and $1.30B loan guarantee; no disbursements received by June 30
- Near-term outlook: existing cash expected to fund at least twelve months; significant additional capital required for 2027 initiatives
Risk Factors
- No material risk-factor changes from 2025 Form 10-K, except disclosures incorporated from three 2026 Form 8-K filings
- Regulatory risk: mine-safety disclosure rules inapplicable because USA Rare Earth conducts no U.S. mining activities
- Financing risk: Department of Commerce direct funding, loan guarantee, securities issuance, and warrant agreements disclosed June 3, 2026
- Transaction risk: Merger Agreement Amendment No. 1 filed July 16, 2026
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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