MP Materials reported its second-quarter 2025 financial results with revenue of $57.39 million, surpassing analyst estimates of approximately $45.6 million and marking an 84% year-over-year increase. The company posted a net loss of $30.87 million, an improvement from $34.1 million in the same period last year. Adjusted net loss was $21.37 million, better than the estimated $34.1 million, while adjusted earnings per share (EPS) were a loss of $0.13, beating the consensus estimate of a $0.19 loss. Adjusted EBITDA improved to a loss of $12.54 million from a loss of $27.1 million a year earlier. The strong revenue growth was driven by record production of neodymium-praseodymium (NdPr), a critical component in rare earth permanent magnets, supported by strategic partnerships with the U.S. Department of Defense and Apple. These partnerships provide price floors for NdPr and funding for mine expansion, reinforcing MP Materials’ position as the only U.S.-based producer of these rare earth elements. Separately, Vulcan Elements, a North Carolina-based startup specializing in rare-earth magnets, raised $65 million in a funding round led by Altimeter Capital, valuing the company at approximately $250 million. CEO John Maslin stated the capital will be used to build a large-scale U.S. facility capable of producing thousands of metric tons of rare-earth magnets, signaling efforts to expand domestic production and reduce reliance on China.