Filing Flows › MP Materials (MP) › Q2 2026
MP Materials (MP) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 7, 2026
MP Materials (MP) reported revenue of $108M for the second quarter 2026 (Q2 2026), +89% from a year earlier and +20% from the quarter before. Operating margin was -29.5%, net loss $20.3M (18.7% of revenue).
MP Materials, Q2 2026: revenue $108M (+89% year over year), operating margin -29.5%, net loss $20.3M, operating cash flow $6.8M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $108M | +20% | +89% |
| Operating profit | −$32.0M | — | — |
| Net earnings | −$20.3M | — | — |
| Operating cash flow | $6.8M | — | — |
What changed
Revenue was $108.5M in Q2 2026, up 89% year over year and up 20% from the previous quarter.
Operating costs exceeded revenue by $32.0M, an operating margin of -29.5%. Total costs grew 39% against revenue growth of 89%. The fastest-growing cost line was Cost of revenue (+43%). The quarter ended with a net loss of $20.3M, wider than the previous quarter's $8.0M loss.
Operating cash flow was $6.8M. Non-cash charges added back $35.4M of depreciation and amortization and $11.3M of share-based compensation. Working capital and other items used $19.5M. Capital expenditures of $230.3M exceeded it, leaving free cash flow of −$223.5M.
Questions
What was MP Materials' revenue in the second quarter 2026?
MP Materials (MP) reported revenue of $108M for the second quarter 2026 (Q2 2026), +89% from a year earlier and +20% from the quarter before.
Was MP Materials profitable in the second quarter 2026?
Operating loss was $32.0M (-29.5% of revenue) and net loss $20.3M.
Source: MP Materials 10-Q on SEC EDGAR.