MP Materials(US:MP)2025-11-06 22:00Financial Performance - Revenue decreased to $536 million in Q3 2025, compared to $629 million in Q3 2024 [17], primarily due to the cessation of concentrate sales in Q2, offset by increased sales of separated products and magnetic precursor products [15] - Adjusted EBITDA was negative $126 million in Q3 2025, compared to negative $112 million in Q3 2024 [17], impacted by the cessation of concentrate sales, offset by EBITDA contribution from Magnetics and improved per-unit production costs of separated products [15] - Adjusted Diluted EPS was negative $010 in Q3 2025, compared to negative $012 in Q3 2024 [17], driven by a higher tax benefit and higher interest income, partially offset by higher depreciation expense [15] Operational Metrics (Materials Segment) - REO production volumes increased slightly to 13,254 MT in Q3 2025 from 13,145 MT in Q2 2025 [21] - NdPr production reached a record of 721 MT in Q3 2025, a 21% sequential increase [14] - NdPr sales volumes increased to 525 MT in Q3 2025 from 443 MT in Q2 2025 [21] Segment Performance - Materials segment revenue was $316 million in Q3 2025, down from $629 million in Q3 2024 [24], due to the cessation of concentrate sales [23] - Magnetics segment revenue was $219 million in Q3 2025 [24], driven by initial production and sales of magnetic precursor products at Independence [23] - Materials segment Adjusted EBITDA was negative $145 million in Q3 2025, compared to negative $26 million in Q3 2024 [24], impacted by the cessation of concentrate sales [23] - Magnetics segment Adjusted EBITDA improved to $95 million in Q3 2025 [24], driven by ramp of magnetic precursor product sales [23] Strategic Initiatives - The Department of War (DoW) purchase price agreement commenced on October 1, 2025 [14] - Initial Apple prepayment of $40 million was received [14]