Filing Flows › MP Materials (MP) › Q2 2025
MP Materials (MP) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 8, 2025
MP Materials (MP) reported revenue of $57.4M for the second quarter 2025 (Q2 2025), +84% from a year earlier and -6% from the quarter before. Operating margin was -76.5%, net loss $30.9M (53.8% of revenue).
MP Materials, Q2 2025: revenue $57.4M (+84% year over year), operating margin -76.5%, net loss $30.9M, operating cash flow −$3.7M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $57.4M | -6% | +84% |
| Operating profit | −$43.9M | — | — |
| Net earnings | −$30.9M | — | — |
| Operating cash flow | −$3.7M | — | — |
What changed
Revenue was $57.4M in Q2 2025, up 84% year over year and down 6% from the previous quarter.
Operating costs exceeded revenue by $43.9M, an operating margin of -76.5%. Total costs grew 19% against revenue growth of 84%. The fastest-growing cost line was SG&A (+28%). The quarter ended with a net loss of $30.9M, wider than the previous quarter's $22.6M loss.
Operating cash flow was −$3.7M. Non-cash charges added back $20.8M of depreciation and amortization and $5.6M of share-based compensation. Working capital and other items added $888K. Capital expenditures of $29.0M exceeded it, leaving free cash flow of −$32.7M.
Questions
What was MP Materials' revenue in the second quarter 2025?
MP Materials (MP) reported revenue of $57.4M for the second quarter 2025 (Q2 2025), +84% from a year earlier and -6% from the quarter before.
Was MP Materials profitable in the second quarter 2025?
Operating loss was $43.9M (-76.5% of revenue) and net loss $30.9M.
Source: MP Materials 10-Q on SEC EDGAR.