Filing Flows › MP Materials (MP) › Q3 2026
MP Materials (MP) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 6, 2026
MP Materials (MP) reported revenue of $148M for the third quarter 2026 (Q3 2026), +176% from a year earlier and +36% from the quarter before. Operating margin was -14.9%, net loss $20.7M (14.0% of revenue).
MP Materials, Q3 2026: revenue $148M (+176% year over year), operating margin -14.9%, net loss $20.7M, operating cash flow −$12.7M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $148M | +36% | +176% |
| Operating profit | −$22.1M | — | — |
| Net earnings | −$20.7M | — | — |
| Operating cash flow | −$12.7M | -285% | — |
What changed
Revenue was $147.7M in Q3 2026, up 176% year over year and up 36% from the previous quarter.
Operating costs exceeded revenue by $22.1M, an operating margin of -14.9%. Total costs grew 41% against revenue growth of 176%. The fastest-growing cost line was Cost of revenue (+77%). The quarter ended with a net loss of $20.7M, wider than the previous quarter's $20.3M loss.
Operating cash flow was −$12.7M. Non-cash charges added back $36.1M of depreciation and amortization and $11.4M of share-based compensation. Working capital and other items used $39.6M. Capital expenditures of $112.5M exceeded it, leaving free cash flow of −$125.2M.
Questions
What was MP Materials' revenue in the third quarter 2026?
MP Materials (MP) reported revenue of $148M for the third quarter 2026 (Q3 2026), +176% from a year earlier and +36% from the quarter before.
Was MP Materials profitable in the third quarter 2026?
Operating loss was $22.1M (-14.9% of revenue) and net loss $20.7M.
Source: MP Materials 10-Q on SEC EDGAR.