MP Materials Corp. (MP) Income Statement
MP 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsMP revenue and net income
Where MP's revenue goes
2025Each bar shows an amount and its share of revenue. MP kept −38.3% of revenue as net income.
MP profit margins
MP growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +10.1% | −24.8% | +10.8% | — |
| Gross profit | — | — | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
MP quarterly EPS vs estimates
MP Materials beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: November 5, 2026 (estimate $-0.08).
MP income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $224.4M | $203.9M | $253.4M | $527.5M | $332.0M | $134.3M | $73.4M | $67.4M |
| Cost of revenue | $282.1M | $270.6M | $148.4M | $110.6M | $100.6M | $70.7M | $67.8M | $57.3M |
| Gross profit | −$57.6M | −$66.8M | $105.0M | $416.9M | $231.3M | $63.6M | $5.6M | $10.1M |
| Research & development | $24.2M | $9.3M | $14.9M | $4.2M | $4.2M | $140,000 | $0 | — |
| Sales, general & admin | $112.1M | $83.3M | $77.5M | $75.9M | $57.8M | $26.8M | $11.1M | $14.6M |
| Total operating expenses | $87.5M | $102.6M | $122.7M | $89.5M | $66.0M | $98.3M | $13.2M | $19.0M |
| Operating income | −$145.1M | −$169.4M | −$17.7M | $327.4M | $165.3M | −$34.7M | −$7.6M | −$8.9M |
| Interest income | $21.8M | $24.1M | $50.8M | $5.8M | $8.9M | $163,000 | $461,000 | — |
| Interest expense | $31.5M | $23.0M | $5.3M | $5.8M | $8.9M | $5.0M | $3.4M | $5.0M |
| Income before taxes | −$117.8M | −$93.3M | $33.1M | $341.2M | $160.2M | −$39.5M | −$6.8M | −$13.5M |
| Income taxes | −$31.9M | −$27.9M | $8.8M | $52.1M | $25.2M | −$17.6M | $1,000 | $1,000 |
| Net income | −$85.9M | −$65.4M | $24.3M | $289.0M | $135.0M | −$21.8M | −$6.8M | −$13.5M |
| EBITDA | $3.0M | $7.7M | $94.0M | $365.3M | $193.5M | −$27.5M | $1.3M | −$4.4M |
| EPS (diluted) | −$0.32 | −$0.45 | $0.38 | $1.71 | $0.88 | $0.25 | −$0.10 | — |
| Gross margin | −25.7% | −32.8% | 41.4% | 79.0% | 69.7% | 47.3% | 7.6% | 15.0% |
| Operating margin | −64.6% | −83.1% | −7.0% | 62.1% | 49.8% | −25.8% | −10.4% | −13.2% |
| Net margin | −38.3% | −32.1% | 9.6% | 54.8% | 40.7% | −16.2% | −9.2% | −20.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $108.5M | $90.6M | $52.7M | $53.6M | $57.4M | $60.8M | $61.0M | $62.9M | $31.3M | $48.7M | $41.2M | $52.5M |
| Cost of revenue | $72.3M | $106.4M | $69.7M | $71.0M | $71.2M | $70.2M | $80.4M | $76.6M | $59.7M | $54.0M | $42.2M | $39.0M |
| Gross profit | $36.2M | −$15.7M | −$17.0M | −$17.4M | −$13.8M | −$9.4M | −$19.4M | −$13.7M | −$28.4M | −$5.3M | −$1.0M | $13.5M |
| Research & development | $1.3M | $1.9M | $2.2M | $19.0M | $2.5M | $474,000 | $1.2M | $2.1M | $1.9M | $409,000 | $10.8M | $2.9M |
| Sales, general & admin | $35.2M | $33.6M | $32.1M | $28.4M | $27.4M | $24.2M | $19.1M | $21.5M | $21.4M | $21.3M | $21.4M | $19.6M |
| Total operating expenses | $50.9M | $2.5M | −$14.4M | $48.2M | $30.1M | $25.4M | $24.6M | $25.9M | $25.1M | $21.7M | $32.6M | $31.1M |
| Operating income | −$14.7M | −$18.2M | −$2.6M | −$65.6M | −$43.9M | −$34.8M | −$44.0M | −$39.5M | −$53.5M | −$27.0M | −$33.6M | −$17.5M |
| Interest income | — | — | $8.9M | $6.8M | $5.4M | $7.6M | $6.8M | $6.6M | — | — | — | — |
| Interest expense | $9.7M | $7.4M | $9.9M | $8.6M | $5.4M | $7.6M | $6.8M | $6.6M | $6.7M | $2.9M | $1.1M | $1.4M |
| Income before taxes | −$29.3M | −$13.6M | $10.6M | −$58.4M | −$42.7M | −$27.2M | −$34.0M | −$34.9M | −$48.2M | $23.6M | −$20.7M | −$4.5M |
| Income taxes | −$9.0M | −$5.7M | $1.1M | −$16.7M | −$11.9M | −$4.5M | −$11.6M | −$9.3M | −$14.1M | $7.1M | −$4.4M | −$200,000 |
| Net income | −$20.3M | −$8.0M | $9.4M | −$41.8M | −$30.9M | −$22.6M | −$22.3M | −$25.5M | −$34.1M | $16.5M | −$16.3M | −$4.3M |
| EBITDA | $15.7M | $28.3M | $45.1M | −$27.4M | −$16.5M | $1.8M | −$5.1M | −$8.9M | −$23.2M | $45.1M | −$917,000 | $13.7M |
| EPS (diluted) | −$0.05 | $0.03 | $0.06 | −$0.10 | −$0.16 | −$0.12 | −$0.12 | −$0.12 | −$0.17 | −$0.04 | −$0.02 | $0.04 |
| Gross margin | 33.4% | −17.4% | −32.2% | −32.5% | −24.1% | −15.5% | −31.8% | −21.7% | −90.9% | −10.9% | −2.4% | 25.8% |
| Operating margin | −13.5% | −20.1% | −4.8% | −122.5% | −76.5% | −57.2% | −72.1% | −62.8% | −171.1% | −55.4% | −81.6% | −33.4% |
| Net margin | −18.7% | −8.8% | 17.9% | −78.0% | −53.8% | −37.2% | −36.6% | −40.5% | −108.9% | 33.9% | −39.5% | −8.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in MP's financial statements (latest annual report filed February 26, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MP financial results
In fiscal year 2025 (ended December 31, 2025), MP Materials reported revenue of $224.4 million, up 10.1% from the year before. It had a net loss of $85.9 million, a net profit margin of −38.3%. Diluted earnings per share came to −$0.32. Over five years revenue grew at an average rate of 10.8% a year.
See the MP stock overview for the latest quote and news, or the MP chart for price history and technical indicators.
MP income statement FAQ
What is MP Materials's annual revenue?
MP Materials reported total revenue of $224.4 million for fiscal year 2025, which ended on December 31, 2025. That was up 10.1% from $203.9 million the previous year.
Is MP Materials profitable?
No. MP Materials reported a net loss of $85.9 million in fiscal 2025, a net profit margin of −38.3%; its operating margin was −64.6%.
What is MP Materials's gross margin?
MP Materials's gross margin was −25.7% in fiscal 2025: for every $100 of revenue, MP Materials kept $-26 after the direct cost of its products and services.
How much does MP Materials spend on research and development?
MP Materials spent $24.2 million on research and development in fiscal 2025, 10.8% of revenue.
How fast is MP Materials growing?
Revenue grew 10.8% a year on average over the last five fiscal years, from $134.3 million to $224.4 million.
What are MP Materials's earnings per share?
MP Materials earned $-0.32 per diluted share in fiscal 2025, compared with $-0.45 a year earlier.
When will MP Materials report its next earnings?
MP Materials is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 after the market closes.
When does MP Materials's fiscal year end?
MP Materials's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 26, 2026.