$MP
MP Materials Corp. / DE Stock $mp

$mp Overview Financials Valuation SEC Filings Company Website

2020 Q3 Form 10-Q Financial Statement

#000180136820000009 Filed on November 04, 2020

Income Statement

Concept	2020 Q3
Revenue	$41.02M
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin	$3.100M
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$2.179M
YoY Change
% of Gross Profit
Operating Expenses	$3.100M
YoY Change
Operating Profit	$16.15M
YoY Change
Interest Expense	$1.713M
YoY Change
% of Operating Profit	10.6%
Other Income/Expense, Net	$61.00K
YoY Change
Pretax Income	$14.50M
YoY Change
Income Tax	-$125.0K
% Of Pretax Income	-0.86%
Net Earnings	$14.63M
YoY Change
Net Earnings / Revenue	35.66%
Basic Earnings Per Share	$0.20
Diluted Earnings Per Share	$0.20
COMMON SHARES
Basic Shares Outstanding	71.94M shares
Diluted Shares Outstanding	71.94M shares

Balance Sheet

Concept	2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments	$900.0K
YoY Change
Cash & Equivalents	$30.24M
Short-Term Investments
Other Short-Term Assets	$300.0K
YoY Change
Inventory
Prepaid Expenses	$334.5K
Receivables
Other Receivables
Total Short-Term Assets	$1.243M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$345.1M
YoY Change
Other Assets
YoY Change
Total Long-Term Assets	$345.1M
YoY Change
TOTAL ASSETS
Total Short-Term Assets	$1.243M
Total Long-Term Assets	$345.1M
Total Assets	$346.3M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$3.400M
YoY Change
Accrued Expenses	$100.0K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$3.533M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt	$0.00
YoY Change
Other Long-Term Liabilities	$12.10M
YoY Change
Total Long-Term Liabilities	$12.10M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities	$3.533M
Total Long-Term Liabilities	$12.10M
Total Liabilities	$15.61M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings	-$3.389M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	-$10.12M
YoY Change
Total Liabilities & Shareholders Equity	$346.3M
YoY Change

Cashflow Statement

Concept	2020 Q3
OPERATING ACTIVITIES
Net Income	$14.63M
YoY Change
Depreciation, Depletion And Amortization	$2.179M
YoY Change
Cash From Operating Activities	-$480.0K
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities	$0.00
YoY Change
Cash From Investing Activities	$0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-40.00K
YoY Change
NET CHANGE
Cash From Operating Activities	-480.0K
Cash From Investing Activities	0.000
Cash From Financing Activities	-40.00K
Net Change In Cash	-520.0K
YoY Change
FREE CASH FLOW
Cash From Operating Activities	-$480.0K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
	dei	Amendment Flag AmendmentFlag	false
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2020
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q3
	dei	Entity Central Index Key EntityCentralIndexKey	0001801368
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2020Q2	fvac	Number Of Redeemable Warrants In Each Unit Issued In Public Offering NumberOfRedeemableWarrantsInEachUnitIssuedInPublicOffering	0.3333	shares
	dei	Document Type DocumentType	10-Q
	dei	Document Quarterly Report DocumentQuarterlyReport	true
	dei	Document Period End Date DocumentPeriodEndDate	2020-09-30
	dei	Document Transition Report DocumentTransitionReport	false
	dei	Entity File Number EntityFileNumber	001-39277
	dei	Entity Registrant Name EntityRegistrantName	FORTRESS VALUE ACQUISITION CORP.
	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	DE
	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	84-4465489
	dei	Entity Address Address Line1 EntityAddressAddressLine1	1345 Avenue of the Americas
	dei	Entity Address City Or Town EntityAddressCityOrTown	New York
	dei	Entity Address State Or Province EntityAddressStateOrProvince	NY
	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	10105
	dei	City Area Code CityAreaCode	212
	dei	Local Phone Number LocalPhoneNumber	798-6100
	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
	dei	Entity Small Business EntitySmallBusiness	true
	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	true
	dei	Entity Ex Transition Period EntityExTransitionPeriod	false
	dei	Entity Shell Company EntityShellCompany	true
CY2020Q3	us-gaap	Cash Cash	909007	USD
CY2020Q3	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	334489	USD
CY2020Q3	us-gaap	Assets Current AssetsCurrent	1243496	USD
CY2020Q3	us-gaap	Assets Held In Trust Noncurrent AssetsHeldInTrustNoncurrent	345068821	USD
CY2020Q3	us-gaap	Assets Assets	346312317	USD
CY2020Q3	us-gaap	Accounts Payable And Accrued Liabilities Current AccountsPayableAndAccruedLiabilitiesCurrent	3396213	USD
CY2020Q3	fvac	Franchise Tax Payable Current FranchiseTaxPayableCurrent	137046	USD
CY2020Q3	us-gaap	Liabilities Current LiabilitiesCurrent	3533259	USD
CY2020Q3	fvac	Deferred Underwriting Commissions Payable DeferredUnderwritingCommissionsPayable	12075000	USD
CY2020Q3	us-gaap	Liabilities Liabilities	15608259	USD
CY2020Q3	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2020Q3	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	1000000	shares
CY2020Q3	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2020Q3	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2020Q3	us-gaap	Preferred Stock Value PreferredStockValue	0	USD
CY2020Q3	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	8387826	USD
CY2020Q3	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-3388874	USD
CY2020Q3	us-gaap	Stockholders Equity StockholdersEquity	5000008	USD
CY2020Q3	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	346312317	USD
CY2020Q3	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	3048747	USD
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	3320649	USD
CY2020Q3	fvac	Franchise Tax Expense FranchiseTaxExpense	50232	USD
	fvac	Franchise Tax Expense FranchiseTaxExpense	137046	USD
CY2020Q3	us-gaap	Operating Income Loss OperatingIncomeLoss	-3098979	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	-3457695	USD
CY2020Q3	us-gaap	Investment Income Interest InvestmentIncomeInterest	31946	USD
	us-gaap	Investment Income Interest InvestmentIncomeInterest	68821	USD
CY2020Q3	us-gaap	Net Income Loss NetIncomeLoss	-3067033	USD
	us-gaap	Net Income Loss NetIncomeLoss	-3388874	USD
CY2020Q1	us-gaap	Stockholders Equity StockholdersEquity	0	USD
CY2020Q1	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	25000	USD
CY2020Q1	us-gaap	Net Income Loss NetIncomeLoss	-5500	USD
CY2020Q1	us-gaap	Stockholders Equity StockholdersEquity	19500	USD
CY2020Q2	fvac	Sale Of Units In Initial Public Offering Net Of Offering Costs Par Value SaleOfUnitsInInitialPublicOfferingNetOfOfferingCostsParValue	325167932	USD
CY2020Q2	us-gaap	Adjustments To Additional Paid In Capital Warrant Issued AdjustmentsToAdditionalPaidInCapitalWarrantIssued	8900000	USD
CY2020Q2	us-gaap	Reclassifications Of Temporary To Permanent Equity ReclassificationsOfTemporaryToPermanentEquity	-328771090	USD
CY2020Q2	us-gaap	Net Income Loss NetIncomeLoss	-316341	USD
CY2020Q2	us-gaap	Stockholders Equity StockholdersEquity	5000001	USD
CY2020Q3	us-gaap	Reclassifications Of Temporary To Permanent Equity ReclassificationsOfTemporaryToPermanentEquity	3067040	USD
CY2020Q3	us-gaap	Net Income Loss NetIncomeLoss	-3067033	USD
CY2020Q3	us-gaap	Stockholders Equity StockholdersEquity	5000008	USD
	us-gaap	Net Income Loss NetIncomeLoss	-3388874	USD
	us-gaap	Investment Income Interest InvestmentIncomeInterest	68821	USD
	us-gaap	Increase Decrease In Prepaid Expense IncreaseDecreaseInPrepaidExpense	334489	USD
	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	2785762	USD
	fvac	Increase Decrease In Franchise Tax Payable IncreaseDecreaseInFranchiseTaxPayable	137046	USD
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-869376	USD
	us-gaap	Payments For Proceeds From Investments PaymentsForProceedsFromInvestments	345000000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-345000000	USD
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	25000	USD
	us-gaap	Proceeds From Related Party Debt ProceedsFromRelatedPartyDebt	211382	USD
	us-gaap	Repayments Of Related Party Debt RepaymentsOfRelatedPartyDebt	211382	USD
	fvac	Proceeds From Issuance Initial Public Offering Net Of Underwriting Commission ProceedsFromIssuanceInitialPublicOfferingNetOfUnderwritingCommission	338100000	USD
	us-gaap	Payments Of Stock Issuance Costs PaymentsOfStockIssuanceCosts	246617	USD
	us-gaap	Proceeds From Issuance Of Private Placement ProceedsFromIssuanceOfPrivatePlacement	8900000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	346778383	USD
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	909007	USD
CY2020Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	0	USD
CY2020Q3	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	909007	USD
	fvac	Offering Costs Accounts Payable And Accrued Expenses Noncash OfferingCostsAccountsPayableAndAccruedExpensesNoncash	610451	USD
	fvac	Deferred Offering Costs Noncash Financing Activities DeferredOfferingCostsNoncashFinancingActivities	12075000	USD
	us-gaap	Stock Issued1 StockIssued1	325704050	USD
CY2020Q2	us-gaap	Proceeds From Issuance Initial Public Offering ProceedsFromIssuanceInitialPublicOffering	345000000.0	USD
CY2020Q2	us-gaap	Deferred Offering Costs DeferredOfferingCosts	19800000	USD
CY2020Q2	fvac	Deferred Underwriting Commissions Payable DeferredUnderwritingCommissionsPayable	12100000	USD
CY2020Q2	us-gaap	Proceeds From Issuance Of Private Placement ProceedsFromIssuanceOfPrivatePlacement	8900000	USD
CY2020Q2	us-gaap	Proceeds From Issuance Initial Public Offering ProceedsFromIssuanceInitialPublicOffering	345000000.0	USD
CY2020Q2	fvac	Investment Securities Maturity Period InvestmentSecuritiesMaturityPeriod	P185D
CY2020Q3	us-gaap	Cash Cash	900000	USD
CY2020Q3	fvac	Minimum Percentage Of Fair Market Value Of Business Acquisition To Trust Account Balance MinimumPercentageOfFairMarketValueOfBusinessAcquisitionToTrustAccountBalance	0.80
CY2020Q3	fvac	Minimum Percentage Of Voting Interests To Be Acquired In Business Combination MinimumPercentageOfVotingInterestsToBeAcquiredInBusinessCombination	0.50
CY2020Q3	fvac	Minimum Net Tangible Assets To Complete Business Combination MinimumNetTangibleAssetsToCompleteBusinessCombination	5000001	USD
CY2020Q3	fvac	Minimum Net Tangible Assets To Complete Business Combination MinimumNetTangibleAssetsToCompleteBusinessCombination	5000001	USD
CY2020Q3	fvac	Percentage Of Public Shares Required To Repurchase If Business Combination Is Not Completed Within Specific Period PercentageOfPublicSharesRequiredToRepurchaseIfBusinessCombinationIsNotCompletedWithinSpecificPeriod	1
	fvac	Number Of Fractional Warrants Be Issued NumberOfFractionalWarrantsBeIssued	0	shares
CY2020Q3	us-gaap	Cash Cash	900000	USD
	us-gaap	Investment Income Interest InvestmentIncomeInterest	68821	USD
CY2020Q3	fvac	Working Capital Deficiency WorkingCapitalDeficiency	2300000	USD
	us-gaap	Use Of Estimates UseOfEstimates	<div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:174%">The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:174%">Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed as of September 30, 2020, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.</span></div>
CY2020Q2	us-gaap	Deferred Offering Costs DeferredOfferingCosts	19800000	USD
CY2020Q2	fvac	Deferred Underwriting Commissions Payable DeferredUnderwritingCommissionsPayable	12100000	USD
CY2020Q3	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	0	USD
CY2020Q3	us-gaap	Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued	0	USD
CY2020Q3	us-gaap	Investment Income Interest InvestmentIncomeInterest	31946	USD
	us-gaap	Investment Income Interest InvestmentIncomeInterest	68821	USD
CY2020Q3	fvac	Investment Income Interest Income Used To Pay Taxes InvestmentIncomeInterestIncomeUsedToPayTaxes	31946	USD
	fvac	Investment Income Interest Income Used To Pay Taxes InvestmentIncomeInterestIncomeUsedToPayTaxes	68821	USD
	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	Financial instruments that potentially subject the Company to concentration of credit risk consist of a cash account in a financial institution which at times may exceed the Federal depository insurance coverage of $250,000. As of September 30, 2020, the Company had not experienced losses on this account and management believes the Company is not exposed to significant risks on such account.
CY2020Q3	us-gaap	Cash Fdic Insured Amount CashFDICInsuredAmount	250000	USD
CY2020Q2	fvac	Number Of Shares In Each Unit NumberOfSharesInEachUnit	1	shares
CY2020Q1	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	25000	USD
	fvac	Common Stock Threshold Trading Days CommonStockThresholdTradingDays	20	day
	fvac	Common Stock Threshold Consecutive Trading Days CommonStockThresholdConsecutiveTradingDays	30	day
	fvac	Class Of Warrant Or Right Blackout Trading Period After Completion Of Business Combination ClassOfWarrantOrRightBlackoutTradingPeriodAfterCompletionOfBusinessCombination	P30D
CY2020Q2	fvac	Underwriting Agreement Option Period UnderwritingAgreementOptionPeriod	P45D
CY2020Q2	fvac	Underwriting Discount UnderwritingDiscount	0.20
CY2020Q2	fvac	Underwriting Discount Paid UnderwritingDiscountPaid	6900000	USD
CY2020Q2	fvac	Deferred Underwriting Discount DeferredUnderwritingDiscount	0.35
CY2020Q2	fvac	Deferred Underwriting Commissions Payable DeferredUnderwritingCommissionsPayable	12100000	USD
CY2020Q3	fvac	Class F Percentageof Total Common Stock Outstanding Upon Completionof Initial Public Offering ClassFPercentageofTotalCommonStockOutstandingUponCompletionofInitialPublicOffering	0.20
CY2020Q3	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	1000000	shares
CY2020Q3	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2020Q3	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2020Q3	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
	fvac	Warrants Exercise Period Following Business Combination WarrantsExercisePeriodFollowingBusinessCombination	P30D
	fvac	Warrants Exercise Period Following Initial Public Offering WarrantsExercisePeriodFollowingInitialPublicOffering	P12M
CY2020Q3	us-gaap	Warrants And Rights Outstanding Term WarrantsAndRightsOutstandingTerm	P5Y
	fvac	Restriction Period For Transfer Assignment Or Sale RestrictionPeriodForTransferAssignmentOrSale	P30D
	fvac	Redemption Price Per Warrant RedemptionPricePerWarrant	0.01
	fvac	Numberof Daysfor Written Noticeof Redemption NumberofDaysforWrittenNoticeofRedemption	P30D
	fvac	Minimum Threshold Priceof Common Stock Specifiedto Send Noticeof Redemptiontothe Warrant Holders MinimumThresholdPriceofCommonStockSpecifiedtoSendNoticeofRedemptiontotheWarrantHolders	18.00
	fvac	Price Threshold Of Newly Issued Stock To Cause Adjustment Of Exercise Warrant Price PriceThresholdOfNewlyIssuedStockToCauseAdjustmentOfExerciseWarrantPrice	9.20
CY2020Q3	fvac	Percentageof Warrant Exercise Price Adjustedto Price Receivedin New Issuance PercentageofWarrantExercisePriceAdjustedtoPriceReceivedinNewIssuance	1.15

Files In Submission

Name	View Source	Status
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exhibit312-10xqxfortre.htm	Edgar Link	pending
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exhibit322-10xqxfortre.htm	Edgar Link	pending
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R18.htm	Edgar Link	pending
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R20.htm	Edgar Link	pending
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R3.htm	Edgar Link	pending
R4.htm	Edgar Link	pending
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$MP
MP Materials Corp. / DE Stock $mp

2020 Q3 Form 10-Q Financial Statement

#000180136820000009 Filed on November 04, 2020

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$MP MP Materials Corp. / DE Stock $mp

2020 Q3 Form 10-Q Financial Statement

#000180136820000009 Filed on November 04, 2020

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$MP
MP Materials Corp. / DE Stock $mp