$MP
MP Materials Corp. / DE Stock $mp

$mp Overview Financials Valuation SEC Filings Company Website

2021 Q1 Form 10-Q Financial Statement

#000180136821000020 Filed on May 13, 2021

Income Statement

Concept	2021 Q1	2020 Q1
Revenue	$59.97M	$20.72M
YoY Change	189.45%
Cost Of Revenue	$17.90M
YoY Change
Gross Profit	$42.00M
YoY Change
Gross Profit Margin	70.03%
Selling, General & Admin	$13.46M
YoY Change
% of Gross Profit	32.04%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$6.150M	$1.271M
YoY Change	383.87%
% of Gross Profit	14.64%
Operating Expenses	$13.46M	$5.500K
YoY Change	244590.91%
Operating Profit	$21.71M	$2.646M
YoY Change	720.45%
Interest Expense	$1.154M	$803.0K
YoY Change	43.71%
% of Operating Profit	5.32%	30.35%
Other Income/Expense, Net	$55.00K	$82.00K
YoY Change	-32.93%
Pretax Income	$20.61M	$1.925M
YoY Change	970.65%
Income Tax	$4.491M	$0.00
% Of Pretax Income	21.79%	0.0%
Net Earnings	$16.12M	$1.925M
YoY Change	737.35%
Net Earnings / Revenue	26.88%	9.29%
Basic Earnings Per Share	$0.10	$0.03
Diluted Earnings Per Share	$0.09	$0.03
COMMON SHARES
Basic Shares Outstanding	168.9M shares	66.56M shares
Diluted Shares Outstanding	179.3M shares	66.56M shares

Balance Sheet

Concept	2021 Q1	2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$1.182B	$0.00
YoY Change
Cash & Equivalents	$1.182B	$5.378M
Short-Term Investments
Other Short-Term Assets	$8.600M	$500.0K
YoY Change	1620.0%
Inventory	$35.10M
Prepaid Expenses
Receivables	$13.90M
Other Receivables	$0.00
Total Short-Term Assets	$1.239B	$600.0K
YoY Change	206420.17%
LONG-TERM ASSETS
Property, Plant & Equipment	$532.5M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$812.0K
YoY Change
Total Long-Term Assets	$543.4M	-$33.87K
YoY Change	-1604673.91%
TOTAL ASSETS
Total Short-Term Assets	$1.239B	$600.0K
Total Long-Term Assets	$543.4M	-$33.87K
Total Assets	$1.783B	$566.1K
YoY Change	314759.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$27.50M	$400.0K
YoY Change	6775.0%
Accrued Expenses	$300.0K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$200.0K
YoY Change	-100.0%
Long-Term Debt Due	$3.105M
YoY Change
Total Short-Term Liabilities	$72.92M	$546.6K
YoY Change	13240.0%
LONG-TERM LIABILITIES
Long-Term Debt	$672.6M	$0.00
YoY Change
Other Long-Term Liabilities	$9.273M
YoY Change
Total Long-Term Liabilities	$834.4M	$0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities	$72.92M	$546.6K
Total Long-Term Liabilities	$834.4M	$0.00
Total Liabilities	$907.4M	$500.0K
YoY Change	181373.8%
SHAREHOLDERS EQUITY
Retained Earnings	-$46.50M	-$5.500K
YoY Change	845409.09%
Common Stock	$17.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$875.2M	-$16.10M
YoY Change
Total Liabilities & Shareholders Equity	$1.783B	$566.1K
YoY Change	314759.38%

Cashflow Statement

Concept	2021 Q1	2020 Q1
OPERATING ACTIVITIES
Net Income	$16.12M	$1.925M
YoY Change	737.35%
Depreciation, Depletion And Amortization	$6.150M	$1.271M
YoY Change	383.87%
Cash From Operating Activities	$9.335M	$3.734M
YoY Change	150.0%
INVESTING ACTIVITIES
Capital Expenditures	$19.30M	$618.0K
YoY Change	3022.65%
Acquisitions
YoY Change
Other Investing Activities	$130.0K
YoY Change
Cash From Investing Activities	-$19.17M	-$618.0K
YoY Change	3002.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net		$25.00K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	$671.8M	-$210.0K
YoY Change	-320001.43%
NET CHANGE
Cash From Operating Activities	$9.335M	$3.734M
Cash From Investing Activities	-$19.17M	-$618.0K
Cash From Financing Activities	$671.8M	-$210.0K
Net Change In Cash	$662.0M	$2.906M
YoY Change	22678.91%
FREE CASH FLOW
Cash From Operating Activities	$9.335M	$3.734M
Capital Expenditures	$19.30M	$618.0K
Free Cash Flow	-$9.963M	$3.116M
YoY Change	-419.74%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2021Q1	dei	Entity Registrant Name EntityRegistrantName	MP Materials Corp. / DE
CY2021Q1	dei	Amendment Flag AmendmentFlag	false
CY2021Q1	dei	Entity Central Index Key EntityCentralIndexKey	0001801368
CY2021Q1	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2021
CY2021Q1	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q1
CY2021Q1	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2021Q1	us-gaap	Interest Costs Capitalized InterestCostsCapitalized	11000	USD
CY2021Q1	us-gaap	Operating Lease Right Of Use Asset Statement Of Financial Position Extensible List OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2021-01-31#OtherAssetsNoncurrent
CY2020Q4	us-gaap	Operating Lease Right Of Use Asset Statement Of Financial Position Extensible List OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2021-01-31#OtherAssetsNoncurrent
CY2021Q1	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
CY2021Q1	dei	Entity Small Business EntitySmallBusiness	true
CY2021Q1	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2021Q1	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
CY2021Q1	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	true
CY2021Q1	dei	Entity Ex Transition Period EntityExTransitionPeriod	false
CY2021Q1	us-gaap	Operating Lease Liability Current Statement Of Financial Position Extensible List OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2021-01-31#OtherLiabilitiesCurrent
CY2020Q4	us-gaap	Operating Lease Liability Current Statement Of Financial Position Extensible List OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2021-01-31#OtherLiabilitiesCurrent
CY2021Q1	us-gaap	Operating Lease Liability Noncurrent Statement Of Financial Position Extensible List OperatingLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2021-01-31#OtherLiabilitiesNoncurrent
CY2020Q4	us-gaap	Operating Lease Liability Noncurrent Statement Of Financial Position Extensible List OperatingLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2021-01-31#OtherLiabilitiesNoncurrent
CY2021Q1	dei	Document Type DocumentType	10-Q
CY2021Q1	dei	Document Quarterly Report DocumentQuarterlyReport	true
CY2021Q1	dei	Document Period End Date DocumentPeriodEndDate	2021-03-31
CY2021Q1	dei	Document Transition Report DocumentTransitionReport	false
CY2021Q1	dei	Entity File Number EntityFileNumber	001-39277
CY2021Q1	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	DE
CY2021Q1	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	84-4465489
CY2021Q1	dei	Entity Address Address Line1 EntityAddressAddressLine1	6720 Via Austi Parkway, Suite 450
CY2021Q1	dei	Entity Address City Or Town EntityAddressCityOrTown	Las Vegas
CY2021Q1	dei	Entity Address State Or Province EntityAddressStateOrProvince	NV
CY2021Q1	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	89119
CY2021Q1	dei	City Area Code CityAreaCode	702
CY2021Q1	dei	Local Phone Number LocalPhoneNumber	844-6111
CY2021Q1	dei	Entity Shell Company EntityShellCompany	false
CY2021Q2	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	170745813	shares
CY2021Q1	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	1181515000	USD
CY2020Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	519652000	USD
CY2021Q1	us-gaap	Allowance For Doubtful Accounts Receivable Current AllowanceForDoubtfulAccountsReceivableCurrent	0	USD
CY2020Q4	us-gaap	Allowance For Doubtful Accounts Receivable Current AllowanceForDoubtfulAccountsReceivableCurrent	0	USD
CY2021Q1	us-gaap	Accounts Receivable Related Parties Current AccountsReceivableRelatedPartiesCurrent	13925000	USD
CY2020Q4	us-gaap	Accounts Receivable Related Parties Current AccountsReceivableRelatedPartiesCurrent	3589000	USD
CY2021Q1	us-gaap	Inventory Net InventoryNet	35098000	USD
CY2020Q4	us-gaap	Inventory Net InventoryNet	32272000	USD
CY2021Q1	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	8583000	USD
CY2020Q4	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	5534000	USD
CY2021Q1	us-gaap	Assets Current AssetsCurrent	1239121000	USD
CY2020Q4	us-gaap	Assets Current AssetsCurrent	561047000	USD
CY2021Q1	us-gaap	Restricted Cash Noncurrent RestrictedCashNoncurrent	9115000	USD
CY2020Q4	us-gaap	Restricted Cash Noncurrent RestrictedCashNoncurrent	9100000	USD
CY2021Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	532504000	USD
CY2020Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	501974000	USD
CY2021Q1	us-gaap	Finance Lease Right Of Use Asset FinanceLeaseRightOfUseAsset	974000	USD
CY2020Q4	us-gaap	Finance Lease Right Of Use Asset FinanceLeaseRightOfUseAsset	1028000	USD
CY2021Q1	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	812000	USD
CY2020Q4	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	1139000	USD
CY2021Q1	us-gaap	Assets Noncurrent AssetsNoncurrent	543405000	USD
CY2020Q4	us-gaap	Assets Noncurrent AssetsNoncurrent	513241000	USD
CY2021Q1	us-gaap	Assets Assets	1782526000	USD
CY2020Q4	us-gaap	Assets Assets	1074288000	USD
CY2021Q1	us-gaap	Accounts Payable And Accrued Liabilities Current AccountsPayableAndAccruedLiabilitiesCurrent	27500000	USD
CY2020Q4	us-gaap	Accounts Payable And Accrued Liabilities Current AccountsPayableAndAccruedLiabilitiesCurrent	16159000	USD
CY2021Q1	mp	Long Term Debt Current Maturities Excluding Related Parties LongTermDebtCurrentMaturitiesExcludingRelatedParties	3105000	USD
CY2020Q4	mp	Long Term Debt Current Maturities Excluding Related Parties LongTermDebtCurrentMaturitiesExcludingRelatedParties	2403000	USD
CY2021Q1	mp	Long Term Debt Current Maturities Related Parties LongTermDebtCurrentMaturitiesRelatedParties	38457000	USD
CY2020Q4	mp	Long Term Debt Current Maturities Related Parties LongTermDebtCurrentMaturitiesRelatedParties	22070000	USD
CY2021Q1	us-gaap	Finance Lease Liability Current FinanceLeaseLiabilityCurrent	279000	USD
CY2020Q4	us-gaap	Finance Lease Liability Current FinanceLeaseLiabilityCurrent	266000	USD
CY2021Q1	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	3580000	USD
CY2020Q4	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	2163000	USD
CY2021Q1	us-gaap	Liabilities Current LiabilitiesCurrent	72921000	USD
CY2020Q4	us-gaap	Liabilities Current LiabilitiesCurrent	43061000	USD
CY2021Q1	us-gaap	Asset Retirement Obligations Noncurrent AssetRetirementObligationsNoncurrent	25859000	USD
CY2020Q4	us-gaap	Asset Retirement Obligations Noncurrent AssetRetirementObligationsNoncurrent	25570000	USD
CY2021Q1	us-gaap	Accrued Environmental Loss Contingencies Noncurrent AccruedEnvironmentalLossContingenciesNoncurrent	16679000	USD
CY2020Q4	us-gaap	Accrued Environmental Loss Contingencies Noncurrent AccruedEnvironmentalLossContingenciesNoncurrent	16602000	USD
CY2021Q1	mp	Long Term Debt Excluding Current Maturities And Related Parties LongTermDebtExcludingCurrentMaturitiesAndRelatedParties	672582000	USD
CY2020Q4	mp	Long Term Debt Excluding Current Maturities And Related Parties LongTermDebtExcludingCurrentMaturitiesAndRelatedParties	961000	USD
CY2021Q1	mp	Long Term Debt Excluding Current Maturities Related Parties LongTermDebtExcludingCurrentMaturitiesRelatedParties	17733000	USD
CY2020Q4	mp	Long Term Debt Excluding Current Maturities Related Parties LongTermDebtExcludingCurrentMaturitiesRelatedParties	44380000	USD
CY2021Q1	us-gaap	Finance Lease Liability Noncurrent FinanceLeaseLiabilityNoncurrent	687000	USD
CY2020Q4	us-gaap	Finance Lease Liability Noncurrent FinanceLeaseLiabilityNoncurrent	736000	USD
CY2021Q1	us-gaap	Deferred Income Tax Liabilities Net DeferredIncomeTaxLiabilitiesNet	91635000	USD
CY2020Q4	us-gaap	Deferred Income Tax Liabilities Net DeferredIncomeTaxLiabilitiesNet	87473000	USD
CY2021Q1	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	9273000	USD
CY2020Q4	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	1628000	USD
CY2021Q1	us-gaap	Liabilities Noncurrent LiabilitiesNoncurrent	834448000	USD
CY2020Q4	us-gaap	Liabilities Noncurrent LiabilitiesNoncurrent	177350000	USD
CY2021Q1	us-gaap	Liabilities Liabilities	907369000	USD
CY2020Q4	us-gaap	Liabilities Liabilities	220411000	USD
CY2021Q1	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		USD
CY2020Q4	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		USD
CY2020Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
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CY2021Q1	us-gaap	Preferred Stock Value PreferredStockValue	0	USD
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CY2021Q1	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	921643000	USD
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CY2021Q1	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-46503000	USD
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CY2020Q1	us-gaap	Cost Of Goods And Service Excluding Depreciation Depletion And Amortization CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization	12667000	USD
CY2021Q1	us-gaap	Royalty Expense RoyaltyExpense	0	USD
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CY2021Q1	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	13583000	USD
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CY2021Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	21709000	USD
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CY2021Q1	us-gaap	Stockholders Equity StockholdersEquity	875157000	USD
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CY2020Q1	us-gaap	Gain Loss On Sale Of Property Plant Equipment GainLossOnSaleOfPropertyPlantEquipment	0	USD
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CY2020Q1	us-gaap	Amortization Of Financing Costs And Discounts AmortizationOfFinancingCostsAndDiscounts	239000	USD
CY2021Q1	mp	Contract With Customer Liability Related Parties Revenue Recognized For Debt Principal Reduction ContractWithCustomerLiabilityRelatedPartiesRevenueRecognizedForDebtPrincipalReduction	11276000	USD
CY2020Q1	mp	Contract With Customer Liability Related Parties Revenue Recognized For Debt Principal Reduction ContractWithCustomerLiabilityRelatedPartiesRevenueRecognizedForDebtPrincipalReduction	0	USD
CY2021Q1	us-gaap	Deferred Income Taxes And Tax Credits DeferredIncomeTaxesAndTaxCredits	4162000	USD
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CY2021Q1	us-gaap	Increase Decrease In Interest Payable Net IncreaseDecreaseInInterestPayableNet	16000	USD
CY2020Q1	us-gaap	Increase Decrease In Interest Payable Net IncreaseDecreaseInInterestPayableNet	408000	USD
CY2021Q1	mp	Increase Decrease In Contract With Customer Liability Related Parties IncreaseDecreaseInContractWithCustomerLiabilityRelatedParties	0	USD
CY2020Q1	mp	Increase Decrease In Contract With Customer Liability Related Parties IncreaseDecreaseInContractWithCustomerLiabilityRelatedParties	4521000	USD
CY2021Q1	us-gaap	Increase Decrease In Other Operating Liabilities IncreaseDecreaseInOtherOperatingLiabilities	-698000	USD
CY2020Q1	us-gaap	Increase Decrease In Other Operating Liabilities IncreaseDecreaseInOtherOperatingLiabilities	-223000	USD
CY2021Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	9335000	USD
CY2020Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	3734000	USD
CY2021Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	19298000	USD
CY2020Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	618000	USD
CY2021Q1	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	125000	USD
CY2020Q1	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	0	USD
CY2021Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-19173000	USD
CY2020Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-618000	USD
CY2021Q1	us-gaap	Proceeds From Issuance Of Long Term Debt ProceedsFromIssuanceOfLongTermDebt	690000000	USD
CY2020Q1	us-gaap	Proceeds From Issuance Of Long Term Debt ProceedsFromIssuanceOfLongTermDebt	0	USD
CY2021Q1	us-gaap	Repayments Of Long Term Debt And Capital Securities RepaymentsOfLongTermDebtAndCapitalSecurities	276000	USD
CY2020Q1	us-gaap	Repayments Of Long Term Debt And Capital Securities RepaymentsOfLongTermDebtAndCapitalSecurities	210000	USD
CY2021Q1	us-gaap	Payments Of Debt Issuance Costs PaymentsOfDebtIssuanceCosts	17419000	USD
CY2020Q1	us-gaap	Payments Of Debt Issuance Costs PaymentsOfDebtIssuanceCosts	0	USD
CY2021Q1	us-gaap	Proceeds From Payments For Other Financing Activities ProceedsFromPaymentsForOtherFinancingActivities	-512000	USD
CY2020Q1	us-gaap	Proceeds From Payments For Other Financing Activities ProceedsFromPaymentsForOtherFinancingActivities	0	USD
CY2021Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	671793000	USD
CY2020Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-210000	USD
CY2021Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	661955000	USD
CY2020Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	2906000	USD
CY2020Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	532440000	USD
CY2019Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	29572000	USD
CY2021Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	1194395000	USD
CY2020Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	32478000	USD
CY2021Q1	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	1181515000	USD
CY2021Q1	us-gaap	Use Of Estimates UseOfEstimates	The preparation of the unaudited Condensed Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect (i) the reported amounts of assets and liabilities, (ii) the disclosure of contingent assets and liabilities at the date of the unaudited Condensed Consolidated Financial Statements, and (iii) the reported amounts of revenues and expenses during the reporting period. Accordingly, actual results may differ from those estimates.
CY2020Q1	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	5378000	USD
CY2021Q1	us-gaap	Restricted Cash Current RestrictedCashCurrent	3765000	USD
CY2020Q1	us-gaap	Restricted Cash Current RestrictedCashCurrent	34000	USD
CY2021Q1	us-gaap	Restricted Cash Noncurrent RestrictedCashNoncurrent	9115000	USD
CY2020Q1	us-gaap	Restricted Cash Noncurrent RestrictedCashNoncurrent	27066000	USD
CY2021Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	1194395000	USD
CY2020Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	32478000	USD
CY2020Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.0001
CY2021Q1	us-gaap	Number Of Reportable Segments NumberOfReportableSegments	1	segment
CY2021Q1	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	As of March 31, 2021, Shenghe accounted for more than 90% of product sales. Shenghe, a related party of the Company, has entered into an arrangement to purchase substantially all of the Company’s production, and has previously purchased portions of the Company’s stockpile inventory. While as with any contract there is risk of nonperformance, we do not believe that it is reasonably possible that the agreement will be terminated in the near term as it would significantly delay Shenghe’s recovery of non-interest-bearing advance payments that are recognized by the Company as debt. See <span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#i8763d7c76b784a349b03fdf027ca194f_49" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Note 3, “Relationship and Agreements with Shenghe,”</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> for additional information.</span><div style="margin-bottom:10pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Furthermore, while revenue is generated in the United States, our principal customer is located in China and may transport and sell products in the Chinese market; therefore, the Company’s gross profit is affected by Shenghe’s ultimate realized prices in China. In addition, there is an ongoing economic conflict between China and the United States that has resulted in tariffs and trade barriers that may negatively affect the Company’s business and results of operations.</span></div><div style="margin-bottom:10pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In December 2019, a novel strain of coronavirus (known as “COVID-19”) began to impact the population of China, where our principal customer is located. The outbreak of COVID-19 has grown both in the United States and globally, and related government and private sector responsive actions have adversely affected the global economy, including significant business and supply chain disruption as well as broad-based changes in supply and demand. In December 2019, a series of emergency quarantine measures taken by the Chinese government disrupted domestic business activities in China during the weeks after the initial outbreak of COVID-19. These disruptions have occurred periodically since the start of COVID-19 outbreak as measures intended to impede the spread of the virus have adapted. Since the initial COVID-19 outbreak, many countries, including the United States, have imposed restrictions on travel to and from China and elsewhere, as well as general movement restrictions, business closures and other measures imposed to slow the spread of COVID-19.</span></div><div style="margin-bottom:10pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At the onset of the outbreak, we initially experienced shipping delays due to overseas port slowdowns and container shortages, but we did not experience a reduction in production or sales. However, beginning in the fourth quarter of 2020 and continuing into the first quarter of 2021, we again saw shipping delays and container shortages from congestion at port facilities, which has been exacerbated by COVID-19. Congestion at U.S. and international ports could affect the capacity at ports to receive deliveries of products or the loading of shipments onto vessels.</span></div><div style="margin-bottom:10pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As the situation continues to develop, it is impossible to predict the effect and ultimate impact of the COVID-19 pandemic on the Company’s business and results of operations. While the quarantine, social distancing and other regulatory measures instituted or recommended in response to COVID-19 are expected to be temporary, the duration of the business disruptions, and related financial impact, cannot be estimated at this time.</span></div>
CY2020Q4	mp	Contract With Customer Liability Related Parties Deferred Revenue ContractWithCustomerLiabilityRelatedPartiesDeferredRevenue	0	USD
CY2019Q4	mp	Contract With Customer Liability Related Parties Deferred Revenue ContractWithCustomerLiabilityRelatedPartiesDeferredRevenue	35543000	USD
CY2021Q1	mp	Contract With Customer Liability Related Parties Deferred Revenue Additions ContractWithCustomerLiabilityRelatedPartiesDeferredRevenueAdditions	0	USD
CY2020Q1	mp	Contract With Customer Liability Related Parties Deferred Revenue Additions ContractWithCustomerLiabilityRelatedPartiesDeferredRevenueAdditions	1500000	USD
CY2021Q1	mp	Contract With Customer Liability Related Parties Deferred Revenue Prepayments On Sales ContractWithCustomerLiabilityRelatedPartiesDeferredRevenuePrepaymentsOnSales	0	USD
CY2020Q1	mp	Contract With Customer Liability Related Parties Deferred Revenue Prepayments On Sales ContractWithCustomerLiabilityRelatedPartiesDeferredRevenuePrepaymentsOnSales	5212000	USD
CY2021Q1	mp	Contract With Customer Liability Related Parties Revenue Recognized ContractWithCustomerLiabilityRelatedPartiesRevenueRecognized	0	USD
CY2020Q1	mp	Contract With Customer Liability Related Parties Revenue Recognized ContractWithCustomerLiabilityRelatedPartiesRevenueRecognized	2191000	USD
CY2021Q1	mp	Contract With Customer Liability Related Parties Deferred Revenue ContractWithCustomerLiabilityRelatedPartiesDeferredRevenue	0	USD
CY2020Q1	mp	Contract With Customer Liability Related Parties Deferred Revenue ContractWithCustomerLiabilityRelatedPartiesDeferredRevenue	40064000	USD
CY2020Q1	mp	Contract With Customer Liability Deferred Revenue Current ContractWithCustomerLiabilityDeferredRevenueCurrent	6600000	USD
CY2021Q1	us-gaap	Restricted Cash Current RestrictedCashCurrent	3765000	USD
CY2020Q4	us-gaap	Restricted Cash Current RestrictedCashCurrent	3688000	USD
CY2021Q1	us-gaap	Restricted Cash Noncurrent RestrictedCashNoncurrent	9115000	USD
CY2020Q4	us-gaap	Restricted Cash Noncurrent RestrictedCashNoncurrent	9100000	USD
CY2021Q1	us-gaap	Restricted Cash RestrictedCash	12880000	USD
CY2020Q4	us-gaap	Restricted Cash RestrictedCash	12788000	USD
CY2021Q1	us-gaap	Inventory Raw Materials And Supplies Net Of Reserves InventoryRawMaterialsAndSuppliesNetOfReserves	6362000	USD
CY2020Q4	us-gaap	Inventory Raw Materials And Supplies Net Of Reserves InventoryRawMaterialsAndSuppliesNetOfReserves	5124000	USD
CY2021Q1	us-gaap	Inventory Work In Process Net Of Reserves InventoryWorkInProcessNetOfReserves	26356000	USD
CY2020Q4	us-gaap	Inventory Work In Process Net Of Reserves InventoryWorkInProcessNetOfReserves	24524000	USD
CY2021Q1	us-gaap	Inventory Finished Goods Net Of Reserves InventoryFinishedGoodsNetOfReserves	2380000	USD
CY2020Q4	us-gaap	Inventory Finished Goods Net Of Reserves InventoryFinishedGoodsNetOfReserves	2624000	USD
CY2021Q1	us-gaap	Inventory Net InventoryNet	35098000	USD
CY2020Q4	us-gaap	Inventory Net InventoryNet	32272000	USD
CY2021Q1	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	553541000	USD
CY2020Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	516866000	USD
CY2021Q1	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	21037000	USD
CY2020Q4	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	14892000	USD
CY2021Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	532504000	USD
CY2020Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	501974000	USD
CY2021Q1	us-gaap	Property Plant And Equipment Additions PropertyPlantAndEquipmentAdditions	27300000	USD
CY2020Q1	us-gaap	Property Plant And Equipment Additions PropertyPlantAndEquipmentAdditions	1000000.0	USD
CY2020Q1	us-gaap	Interest Costs Capitalized InterestCostsCapitalized	0	USD
CY2021Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	9400000	USD
CY2021Q1	us-gaap	Depreciation Depreciation	1500000	USD
CY2020Q1	us-gaap	Depreciation Depreciation	1200000	USD
CY2021Q1	us-gaap	Depletion Depletion	4500000	USD
CY2020Q1	us-gaap	Depletion Depletion	100000	USD
CY2020Q1	us-gaap	Asset Impairment Charges AssetImpairmentCharges	0	USD
CY2021Q1	us-gaap	Asset Impairment Charges AssetImpairmentCharges	0	USD
CY2021Q1	us-gaap	Deferred Finance Costs Net DeferredFinanceCostsNet	17677000	USD
CY2020Q4	us-gaap	Deferred Finance Costs Net DeferredFinanceCostsNet	0	USD
CY2021Q1	us-gaap	Long Term Debt LongTermDebt	675687000	USD
CY2020Q4	us-gaap	Long Term Debt LongTermDebt	3364000	USD
CY2021Q1	us-gaap	Long Term Debt Current LongTermDebtCurrent	3105000	USD
CY2020Q4	us-gaap	Long Term Debt Current LongTermDebtCurrent	2403000	USD
CY2021Q1	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	672582000	USD
CY2020Q4	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	961000	USD
CY2021Q1	us-gaap	Interest Expense Debt InterestExpenseDebt	1165000	USD
CY2020Q1	us-gaap	Interest Expense Debt InterestExpenseDebt	803000	USD
CY2021Q1	us-gaap	Interest Costs Capitalized InterestCostsCapitalized	11000	USD
CY2020Q1	us-gaap	Interest Costs Capitalized InterestCostsCapitalized	0	USD
CY2021Q1	us-gaap	Interest Expense InterestExpense	1154000	USD
CY2020Q1	us-gaap	Interest Expense InterestExpense	803000	USD
CY2021Q1	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	579000	USD
CY2020Q4	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	1090000	USD
CY2021Q1	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	333000	USD
CY2020Q4	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	761000	USD
CY2021Q1	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	271000	USD
CY2020Q4	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	357000	USD
CY2021Q1	us-gaap	Operating Lease Liability OperatingLeaseLiability	604000	USD
CY2020Q4	us-gaap	Operating Lease Liability OperatingLeaseLiability	1118000	USD
CY2021Q1	us-gaap	Finance Lease Right Of Use Asset FinanceLeaseRightOfUseAsset	974000	USD
CY2020Q4	us-gaap	Finance Lease Right Of Use Asset FinanceLeaseRightOfUseAsset	1028000	USD
CY2021Q1	us-gaap	Finance Lease Liability Current FinanceLeaseLiabilityCurrent	279000	USD
CY2020Q4	us-gaap	Finance Lease Liability Current FinanceLeaseLiabilityCurrent	266000	USD
CY2021Q1	us-gaap	Finance Lease Liability Noncurrent FinanceLeaseLiabilityNoncurrent	687000	USD
CY2020Q4	us-gaap	Finance Lease Liability Noncurrent FinanceLeaseLiabilityNoncurrent	736000	USD
CY2021Q1	us-gaap	Finance Lease Liability FinanceLeaseLiability	966000	USD
CY2020Q4	us-gaap	Finance Lease Liability FinanceLeaseLiability	1002000	USD
CY2020Q4	us-gaap	Asset Retirement Obligation Current AssetRetirementObligationCurrent	100000	USD
CY2021Q1	us-gaap	Asset Retirement Obligation Current AssetRetirementObligationCurrent	100000	USD
CY2021Q1	mp	Asset Retirement Obligations Estimated Undiscounted Cash Flows To Satisfy Obligation AssetRetirementObligationsEstimatedUndiscountedCashFlowsToSatisfyObligation	141600000	USD
CY2020Q4	mp	Asset Retirement Obligations Estimated Undiscounted Cash Flows To Satisfy Obligation AssetRetirementObligationsEstimatedUndiscountedCashFlowsToSatisfyObligation	142300000	USD
CY2021Q1	mp	Asset Retirement Obligation Closure And Reclamation Obligations Financial Assurances AssetRetirementObligationClosureAndReclamationObligationsFinancialAssurances	38500000	USD
CY2020Q4	mp	Asset Retirement Obligation Closure And Reclamation Obligations Financial Assurances AssetRetirementObligationClosureAndReclamationObligationsFinancialAssurances	38400000	USD
CY2021Q1	mp	Accrual For Environmental Loss Contingencies Remediation Term AccrualForEnvironmentalLossContingenciesRemediationTerm	P27Y
CY2021Q1	us-gaap	Accrual For Environmental Loss Contingencies Discount Rate AccrualForEnvironmentalLossContingenciesDiscountRate	0.0293
CY2021Q1	us-gaap	Accrual For Environmental Loss Contingencies Gross AccrualForEnvironmentalLossContingenciesGross	28000000.0	USD
CY2020Q4	us-gaap	Accrual For Environmental Loss Contingencies Gross AccrualForEnvironmentalLossContingenciesGross	28200000	USD
CY2020Q4	us-gaap	Accrued Environmental Loss Contingencies Current AccruedEnvironmentalLossContingenciesCurrent	500000	USD
CY2021Q1	us-gaap	Accrued Environmental Loss Contingencies Current AccruedEnvironmentalLossContingenciesCurrent	500000	USD
CY2021Q1	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.218
CY2020Q1	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.000
CY2020Q4	mp	Capital Stock Authorized CapitalStockAuthorized	221000000	shares
CY2020Q4	mp	Capital Stock Authorized CapitalStockAuthorized	500000000	shares
CY2020Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	450000000	shares
CY2020Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	50000000	shares
CY2020Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2020Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.0001
CY2021Q1	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	5700000	USD
CY2020Q1	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	0	USD
CY2021Q1	us-gaap	Interest Paid Net InterestPaidNet	39000	USD
CY2021Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	168922566	shares
CY2020Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	66556975	shares
CY2021Q1	us-gaap	Incremental Common Shares Attributable To Call Options And Warrants IncrementalCommonSharesAttributableToCallOptionsAndWarrants	7922357	shares
CY2020Q1	us-gaap	Incremental Common Shares Attributable To Call Options And Warrants IncrementalCommonSharesAttributableToCallOptionsAndWarrants	0	shares
CY2021Q1	us-gaap	Incremental Common Shares Attributable To Conversion Of Debt Securities IncrementalCommonSharesAttributableToConversionOfDebtSecurities	1038961	shares
CY2020Q1	us-gaap	Incremental Common Shares Attributable To Conversion Of Debt Securities IncrementalCommonSharesAttributableToConversionOfDebtSecurities	0	shares
CY2021Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	179319489	shares
CY2020Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	66556975	shares
CY2021Q1	us-gaap	Net Income Loss NetIncomeLoss	16119000	USD
CY2020Q1	us-gaap	Net Income Loss NetIncomeLoss	1925000	USD
CY2021Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	168922566	shares
CY2020Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	66556975	shares
CY2021Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.10
CY2020Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.03
CY2021Q1	us-gaap	Net Income Loss NetIncomeLoss	16119000	USD
CY2020Q1	us-gaap	Net Income Loss NetIncomeLoss	1925000	USD
CY2021Q1	us-gaap	Interest On Convertible Debt Net Of Tax InterestOnConvertibleDebtNetOfTax	57000	USD
CY2020Q1	us-gaap	Interest On Convertible Debt Net Of Tax InterestOnConvertibleDebtNetOfTax	0	USD
CY2021Q1	us-gaap	Net Income Loss Attributable To Parent Diluted NetIncomeLossAttributableToParentDiluted	16176000	USD
CY2020Q1	us-gaap	Net Income Loss Attributable To Parent Diluted NetIncomeLossAttributableToParentDiluted	1925000	USD
CY2021Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	179319489	shares
CY2020Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	66556975	shares
CY2021Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.09
CY2020Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.03
CY2021Q1	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.218
CY2020Q1	us-gaap	Interest Paid Net InterestPaidNet	37000	USD
CY2021Q1	us-gaap	Proceeds From Income Tax Refunds ProceedsFromIncomeTaxRefunds	6000	USD
CY2020Q1	us-gaap	Proceeds From Income Tax Refunds ProceedsFromIncomeTaxRefunds	0	USD
CY2021Q1	mp	Capital Expenditures Acquired On Seller Financed Equipment Notes CapitalExpendituresAcquiredOnSellerFinancedEquipmentNotes	9407000	USD
CY2020Q1	mp	Capital Expenditures Acquired On Seller Financed Equipment Notes CapitalExpendituresAcquiredOnSellerFinancedEquipmentNotes	889000	USD
CY2021Q1	us-gaap	Capital Expenditures Incurred But Not Yet Paid CapitalExpendituresIncurredButNotYetPaid	7985000	USD
CY2020Q1	us-gaap	Capital Expenditures Incurred But Not Yet Paid CapitalExpendituresIncurredButNotYetPaid	360000	USD
CY2021Q1	us-gaap	Right Of Use Asset Obtained In Exchange For Finance Lease Liability RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability	36000	USD
CY2020Q1	us-gaap	Right Of Use Asset Obtained In Exchange For Finance Lease Liability RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability	0	USD
CY2021Q1	mp	Notes Reduction Due To Revenue Recognized In Exchange NotesReductionDueToRevenueRecognizedInExchange	11276000	USD
CY2020Q1	mp	Notes Reduction Due To Revenue Recognized In Exchange NotesReductionDueToRevenueRecognizedInExchange	0	USD

Files In Submission

Name	View Source	Status
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$MP
MP Materials Corp. / DE Stock $mp

2021 Q1 Form 10-Q Financial Statement

#000180136821000020 Filed on May 13, 2021

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$MP MP Materials Corp. / DE Stock $mp

2021 Q1 Form 10-Q Financial Statement

#000180136821000020 Filed on May 13, 2021

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$MP
MP Materials Corp. / DE Stock $mp