Key Takeaways USA Rare Earth continues to post losses as projects remain in development without revenues.Higher operating costs and expenses weighed on margins during the third quarter of 2025.USAR plans Round Top commercial production in late 2028, keeping near-term margin pressure.USA Rare Earth, Inc. (USAR) has a strong pipeline of development projects, which includes a Round Top mining facility in Texas and a magnet manufacturing facility in Oklahoma. However, the company has been incurring losses witho ...