USA Rare Earth (USAR) Operating Expenses (2024 - 2025)
USA Rare Earth's (USAR) quarterly Operating Expenses came in at $26.3 million in Q4 2025, up 344.74% year-on-year from $5.9 million in Q4 2024, and up 65.91% quarter-over-quarter from $15.9 million in Q3 2025.
USA Rare Earth (USAR) Operating Expenses (2024 - 2025) Analysis & Trends
USA Rare Earth has disclosed Operating Expenses across 2 years of filings, most recently posting $26.3 million for Q4 2025.
- Operating Expenses for Q4 2025 came in at $26.3 million, up 344.74% year-over-year; the trailing twelve-month figure through Dec 2025 was $59.7 million (up 283.05% YoY), and the FY2025 annual result was $59.7 million, up 283.05% from the prior year.
- Operating Expenses came in at $26.3 million for Q4 2025 at USA Rare Earth, up from $15.9 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $26.3 million in Q4 2025 to a low of $2.0 million in Q3 2024.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Elevra Lithium | 556.97 Bn | 556.92 Bn | - | - |
| 2 | Bhp | 421.29 Bn | 411.77 Bn | - | - |
| 3 | Skeena Resources | 17.36 Bn | 17.34 Bn | - | 15.97 Mn |
| 4 | Ioneer | 10.78 Bn | 10.76 Bn | - | 209.01 Mn |
| 5 | MP Materials | 10.54 Bn | 7.94 Bn | 16.40 Mn | 157.04 Mn |
| 6 | Iperionx | 8.57 Bn | 8.52 Bn | - | - |
| 7 | Materion | 4.58 Bn | 4.57 Bn | 81.84 Mn | 44.65 Mn |
| 8 | Sigma Lithium | 4.36 Bn | 4.36 Bn | 25.57 Mn | -11.78 Mn |
| 9 | Americas Gold & Silver | 4.00 Bn | 3.87 Bn | 16.76 Mn | 57.09 Mn |
| 10 | USA Rare Earth | 2.20 Bn | 2.20 Bn | - | 26.32 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 26.32 Mn |
| Sep 30, 2025 | 15.86 Mn |
| Jun 30, 2025 | 8.80 Mn |
| Mar 31, 2025 | 8.72 Mn |
| Dec 31, 2024 | 5.92 Mn |
| Sep 30, 2024 | 1.96 Mn |
| Jun 30, 2024 | 3.01 Mn |
| Mar 31, 2024 | 4.70 Mn |