Live: USA Rare Earth Reports Q1 Results Tonight - Can the Stock Extend Its Triple-Digit Rally?

USA Rare Earth is preparing to report Q1 2026 results on May 13 after 4:00 PM EST. The company’s operating profile has changed since the prior quarter, including first revenue from the Less Common Metals acquisition and a large increase in cash after a $1.5 billion PIPE. Since then, Stillwater Phase 1a has been commissioned, full ownership of Texas Mineral Resources has been achieved, first commercial yttrium production has occurred at LCM, and a $2.8 billion acquisition of Serra Verde in Brazil has been announced. Investors are focused on the status of a $1.6 billion Department of Commerce funding agreement, timing and ramp of NdFeB magnet order fulfillment starting in Q2 2026, and the cash burn trajectory versus available funding.

"Investors are watching USA Rare Earth ( NASDAQ:USAR) ahead of its Q1 2026 results, due today, May 13, a little after 4:00 PM EST. The integrated rare earth platform has transformed since its last report, and this earnings report is the first real look at the new operating shape."

"Q4 2025 delivered first-ever revenue of $1.64 million from the Less Common Metals acquisition closed in November 2025, with an EPS loss of $0.19 and a GAAP net loss of $50.2 million. Cash jumped from $16.76 million a year earlier to $359.9 million at year-end, then to roughly $1.75 billion after the $1.5 billion PIPE closed in January."

"I'll be watching four things closely. First, the status of the $1.6 billion Department of Commerce funding agreement, with definitive documentation targeted for April 2026. Any slippage matters, especially given the congressional review of the $1.58 billion Commerce investment reported in March."

"Second, Stillwater. Phase 1a is live, and management has guided to NdFeB magnet order fulfillment beginning in Q2 2026, ramping to a 600 MTPA run-rate by Q4 2026. Investors will look for confirmation of customer shipment timing and any conversion of the 12 signed MOUs and 70-plus active engagements into firm contracts."

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