Commenced shipments and ramping production of NdPr oxide
Announces “Upstream 60K” strategy targeting ~50% expansion of REO output at Mountain Pass
Stage I REO sales and production volumes of 9,177 and 10,766 metric tons, respectively
Revenue of $52.5M and net loss of $4.3M
Adjusted EBITDA of $15.6M
Diluted loss per share of $0.02 and Adjusted Diluted EPS of $0.04
LAS VEGAS, November 2, 2023 – MP Materials Corp. (NYSE: MP) (“MP Materials” or the “Company”),
today announced financial results for the three months ended September 30, 2023.
“In the third quarter, we produced separated NdPr on U.S. soil, repatriating a critical national security
capability. This is a tremendous milestone for the company and American supply chain independence writ
large," said James Litinsky, Founder, Chairman and CEO of MP Materials. “Our financial results reflect solid
operational performance against a weak pricing backdrop. In addition, we are excited to announce
“Upstream 60K” where we will target a 50% increase in REO production within four years with modest
incremental investment. In addition, we have begun trial production of NdPr metal and continue to make steady progress in our magnetics business, both technically and commercially.”
Third Quarter 2023 Financial and Operational Highlights

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https://s25.q4cdn.com/570172628/files/doc_news/2023/11/MP-Materials-Q3-2023-Earnings-Release-FINAL.pdf