MP Materials (MP) Financial Statements & Analysis

MP Materials (MP) Income Statement

MP Materials reported revenue of $224.44M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 10.1% from $203.85M a year earlier. MP Materials posted a net loss of $85.87M, compared with a net loss of $65.42M a year earlier. Gross margin was -25.7% and operating margin -64.6%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $126.07M, up 119.7% from the same quarter a year earlier.

MP Materials Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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MP Materials Corp. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018
Revenue & Gross Profit
Revenue	224.44	203.86	253.45	527.51	331.95	134.31	73.41	67.42
Cost of Revenue	282.06	192.59	92.71	110.57	76.25	70.73	67.83	57.28
Gross Profit	-57.62	11.27	160.73	416.94	255.70	63.58	5.58	10.13
Operating Expenses
Research & Development	24.21	9.31	14.93	4.25	4.20	0.14	0.00	0.00
Selling, General & Administrative	112.07	83.30	79.25	75.86	56.65	26.77	11.10	14.57
Operating Expenses	87.47	180.70	178.45	89.53	90.35	98.28	13.20	19.02
Operating Income	-145.09	-169.43	-17.72	327.41	165.35	-34.70	-7.62	-8.88
Other Income/Expense
Interest Income	52.02	47.11	55.64	19.83	0.35	0.16	0.46	0.00
Interest Expense	31.48	-23.01	-5.25	5.79	-8.90	5.01	3.41	5.02
Other Income/Expense	58.80	76.08	50.79	13.74	-5.15	-4.76	0.87	-4.58
Income
Income Before Tax	-117.77	-93.35	33.08	341.15	160.20	-39.46	-6.75	-13.47
Income Tax Expense	-31.90	-27.92	8.77	52.15	25.16	-17.64	0.00	0.00
Net Income	-85.87	-65.42	24.31	289.00	135.04	-21.83	-6.76	-13.47
Net Income - Continuous Operations	-85.87	-65.42	24.31	289.00	135.04	-21.83	-6.76	-13.47
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-
EBITDA	2.97	-84.65	70.42	365.29	193.05	-27.52	1.35	-4.43
EBIT	-86.29	-162.70	14.71	335.35	166.29	35.31	-	-
Depreciation & Amortization	89.27	78.06	55.71	18.36	26.76	6.93	4.69	4.45
Earnings Per Share
Basic EPS	-	-	-	2.00	1.00	-	-	-
Diluted EPS	-	-1.00	-	2.00	1.00	-	-	-
Basic Shares Outstanding	170.13	166.84	177.18	176.52	173.47	79.69	66.56	66.56
Diluted Shares Outstanding	170.13	169.88	178.15	193.45	189.84	79.69	68.88	68.88

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About MP Materials Financial Statements

What was MP Materials's revenue in fiscal 2025?

MP Materials reported revenue of $224.44M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 10.1% from $203.85M a year earlier.

Is MP Materials profitable?

No. MP Materials reported a net loss of $85.87M in fiscal 2025. In fiscal 2024 it lost $65.42M.

What is MP Materials's operating margin?

MP Materials's operating income was −$145.09M on revenue of $224.44M in fiscal 2025, an operating margin of -64.6%, compared with -83.1% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition