USA Rare Earth, Inc. reported a net loss attributable to the company of $156.7 million for the third quarter of 2025, compared to a net loss of $1.9 million in the same period in 2024. The net loss per diluted share was $1.64, up from $0.03 in the prior year's quarter. For the nine months ended September 30, 2025, the net loss was $247.4 million, versus $8.9 million in the same period in 2024. Net cash used in operating activities for the third quarter was $2.8 million, compared to $1.2 million in the same quarter of 2024. Cash at the end of the period was $257.6 million. Key business developments included progress on the Round Top development project with a targeted pre-feasibility study completion in the second half of 2026, continued preparations for commercial-scale production at the Stillwater, Oklahoma magnet facility set for the first quarter of 2026, and entering into a definitive agreement to acquire Less Common Metals Ltd., a manufacturer of specialized rare earth metals and alloys.