$MP
MP Materials Corp. / DE

2023 Q2 Form 10-Q Financial Statement

#000180136823000020 Filed on May 05, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $64.02M $95.70M
YoY Change -55.4% -42.44%
Cost Of Revenue $22.70M $24.22M
YoY Change 2.75% 4.5%
Gross Profit $41.30M $71.48M
YoY Change -66.0% -50.04%
Gross Profit Margin 64.51% 74.7%
Selling, General & Admin $18.87M $19.40M
YoY Change 3.53% -5.65%
% of Gross Profit 45.68% 27.14%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $12.20M $8.122M
YoY Change 125.69% 54.41%
% of Gross Profit 29.55% 11.36%
Operating Expenses $18.87M $19.40M
YoY Change 3.53% -5.65%
Operating Profit $483.0K $32.96M
YoY Change -99.5% -71.34%
Interest Expense -$1.400M -$1.359M
YoY Change 5.58% -28.66%
% of Operating Profit -289.86% -4.12%
Other Income/Expense, Net $13.82M $13.69M
YoY Change 524.82% 6958.25%
Pretax Income $12.91M $45.30M
YoY Change -86.64% -60.03%
Income Tax $5.517M $7.849M
% Of Pretax Income 42.73% 17.33%
Net Earnings $7.395M $37.45M
YoY Change -89.91% -56.23%
Net Earnings / Revenue 11.55% 39.13%
Basic Earnings Per Share $0.04 $0.21
Diluted Earnings Per Share $0.04 $0.20
COMMON SHARES
Basic Shares Outstanding 177.6M shares 177.6M shares
Diluted Shares Outstanding 177.9M shares 193.6M shares

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.128B $1.169B
YoY Change -10.76% -5.21%
Cash & Equivalents $927.2M $651.2M
Short-Term Investments $200.8M $517.8M
Other Short-Term Assets $12.80M $13.57M
YoY Change 133.32% 110.42%
Inventory $67.78M $61.80M
Prepaid Expenses
Receivables $11.11M $21.25M
Other Receivables $4.100M $1.727M
Total Short-Term Assets $1.224B $1.267B
YoY Change -9.27% -3.73%
LONG-TERM ASSETS
Property, Plant & Equipment $1.045B $1.002B
YoY Change 39.34% 49.93%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.186M $4.630M
YoY Change 26.48% 105.87%
Total Long-Term Assets $1.066B $1.014B
YoY Change 41.63% 51.13%
TOTAL ASSETS
Total Short-Term Assets $1.224B $1.267B
Total Long-Term Assets $1.066B $1.014B
Total Assets $2.289B $2.281B
YoY Change 8.96% 14.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $71.70M $68.57M
YoY Change 15.46% 64.63%
Accrued Expenses $300.0K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $2.500M $2.327M
YoY Change
Total Short-Term Liabilities $75.77M $93.87M
YoY Change 14.55% 82.01%
LONG-TERM LIABILITIES
Long-Term Debt $680.2M $679.3M
YoY Change 0.52% 0.52%
Other Long-Term Liabilities $3.921M $4.464M
YoY Change -37.91% -36.26%
Total Long-Term Liabilities $848.7M $835.4M
YoY Change -1.81% -1.16%
TOTAL LIABILITIES
Total Short-Term Liabilities $75.77M $93.87M
Total Long-Term Liabilities $848.7M $835.4M
Total Liabilities $924.5M $929.3M
YoY Change -0.64% 3.62%
SHAREHOLDERS EQUITY
Retained Earnings $406.3M $398.9M
YoY Change 75.69% 152.5%
Common Stock $17.00K $17.00K
YoY Change -5.56% -5.56%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.365B $1.352B
YoY Change
Total Liabilities & Shareholders Equity $2.289B $2.281B
YoY Change 8.96% 14.79%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income $7.395M $37.45M
YoY Change -89.91% -56.23%
Depreciation, Depletion And Amortization $12.20M $8.122M
YoY Change 125.69% 54.41%
Cash From Operating Activities $10.00M $55.49M
YoY Change -89.89% -54.13%
INVESTING ACTIVITIES
Capital Expenditures $55.70M $74.46M
YoY Change -182.33% 35.55%
Acquisitions
YoY Change
Other Investing Activities $321.7M $536.7M
YoY Change -153.69% 10361.01%
Cash From Investing Activities $265.9M $462.2M
YoY Change -139.87% -1028.05%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -800.0K -$6.822M
YoY Change -8.36% -61.91%
NET CHANGE
Cash From Operating Activities 10.00M $55.49M
Cash From Investing Activities 265.9M $462.2M
Cash From Financing Activities -800.0K -$6.822M
Net Change In Cash 275.1M $510.9M
YoY Change -148.36% 859.21%
FREE CASH FLOW
Cash From Operating Activities $10.00M $55.49M
Capital Expenditures $55.70M $74.46M
Free Cash Flow -$45.70M -$18.97M
YoY Change -127.44% -128.73%

Facts In Submission

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CY2022Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
927000 usd
CY2023Q1 us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
-474000 usd
CY2022Q1 us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
0 usd
CY2023Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
351000 usd
CY2022Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-694000 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-3586000 usd
CY2022Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-7176000 usd
CY2023Q1 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-2000 usd
CY2022Q1 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
1783000 usd
CY2023Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
148000 usd
CY2022Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
130000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
55491000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
120971000 usd
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
74462000 usd
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
54932000 usd
CY2023Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
320884000 usd
CY2022Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
0 usd
CY2023Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
447227000 usd
CY2022Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
0 usd
CY2023Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
410307000 usd
CY2022Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
0 usd
CY2023Q1 mp Proceeds From Government Reimbursements For Property Plant And Equipment
ProceedsFromGovernmentReimbursementsForPropertyPlantAndEquipment
0 usd
CY2022Q1 mp Proceeds From Government Reimbursements For Property Plant And Equipment
ProceedsFromGovernmentReimbursementsForPropertyPlantAndEquipment
5130000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
462188000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-49802000 usd
CY2023Q1 us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
846000 usd
CY2022Q1 us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
3817000 usd
CY2023Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
5976000 usd
CY2022Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
14094000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-6822000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
510857000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
53258000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
143509000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1181157000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
654366000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1234415000 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
651215000 usd
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1233300000 usd
CY2023Q1 us-gaap Restricted Cash Current
RestrictedCashCurrent
2552000 usd
CY2022Q1 us-gaap Restricted Cash Current
RestrictedCashCurrent
587000 usd
CY2023Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
599000 usd
CY2022Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
528000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
654366000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1234415000 usd
CY2023Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2023Q1 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.
CY2023Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
Financial instruments that potentially subject the Company to credit risk consist principally of cash, cash equivalents and short-term investments, and trade accounts receivable. The Company believes that its credit risk is limited because the Company’s current contracts are with companies that have a reliable payment history. The Company does not believe that it is exposed to any significant risks related to its cash accounts, money market funds, or short-term investments.<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 of March 31, 2023, Shenghe was the Company’s principal customer and accounted for more than 90% of product sales. Rare earth concentrate is not quoted on any major commodities market or exchange and demand for rare earth concentrate is currently constrained to a relatively limited number of refiners, a significant majority of which are based in China. Uncertainty exists as to the market price of rare earth oxide (“REO”), as evidenced by the volatility experienced in 2022 and continued into 2023 due to concerns over the global economic conditions and actual or perceived concerns over increases in the supply of rare earth products. Furthermore, while revenue is generated in the United States, Shenghe conducts its primary operations in China and may transport and sell products in the Chinese market. <span id="ic8b9a412544c468eab64730a7947cdfc_6927"/>Therefore, the Company’s revenue is affected by Shenghe’s ultimate realized prices in China, including the impact of changes in the exchange rate between the Chinese Yuan and the U.S. dollar. In addition, there is an ongoing economic conflict between China and the United States that has previously resulted in tariffs and trade barriers that may negatively affect the Company’s business and results of operations. See </span><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="#ibfa36a472f53423b882335fdd557c870_79" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Note 13, “Related-Party Transactions,”</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><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%">The impact of the COVID-19 pandemic and its effects continue to evolve. Since the onset of the pandemic, the Company has experienced, at times, significant shipping delays due to congestion and slowdowns at U.S. and international ports caused by shortages in vessels, containers, and truckers, also disrupting the global supply chain. Despite these factors, the Company has not experienced a reduction in production or sales due to the COVID-19 pandemic. However, the COVID-19 pandemic has contributed to certain cost and schedule pressures for capital projects and may impact the reliability of transportation, particularly as the Company expects a significant increase in inbound logistics of raw materials to be consumed in Stage II 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%">The Company continues to monitor the global situation, including the impacts of new and potential future variants of COVID-19, or other factors that may affect international shipping, logistics, and supply chain, or involve responses to government actions such as strikes or other disruptions. It is impossible to predict the effect and ultimate impact of the COVID-19 pandemic on the Company’s business, results of operations, production and sales volumes, or growth projects.</span></div>
CY2023Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
Certain amounts in prior periods have been reclassified to conform to the current year presentation.
CY2023Q1 mp Cash And Cash Equivalents Amortized Cost
CashAndCashEquivalentsAmortizedCost
651215000 usd
CY2023Q1 mp Cash Equivalents Accumulated Gross Unrealized Gains Before Tax
CashEquivalentsAccumulatedGrossUnrealizedGainsBeforeTax
0 usd
CY2023Q1 mp Cash Equivalents Accumulated Gross Unrealized Loss Before Tax
CashEquivalentsAccumulatedGrossUnrealizedLossBeforeTax
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CY2023Q1 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
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CY2022Q4 mp Cash And Cash Equivalents Amortized Cost
CashAndCashEquivalentsAmortizedCost
136628000 usd
CY2022Q4 mp Cash Equivalents Accumulated Gross Unrealized Gains Before Tax
CashEquivalentsAccumulatedGrossUnrealizedGainsBeforeTax
1000 usd
CY2022Q4 mp Cash Equivalents Accumulated Gross Unrealized Loss Before Tax
CashEquivalentsAccumulatedGrossUnrealizedLossBeforeTax
2000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
136627000 usd
CY2023Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
517656000 usd
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
201000 usd
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
26000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
517831000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
1045464000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
362000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
108000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
1045718000 usd
CY2023Q1 mp Cash Cash Equivalents And Available For Sale Debt Securities Amortized Cost
CashCashEquivalentsAndAvailableForSaleDebtSecuritiesAmortizedCost
1168871000 usd
CY2023Q1 mp Cash Equivalents And Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
CashEquivalentsAndAvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
201000 usd
CY2023Q1 mp Cash Equivalents And Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
CashEquivalentsAndAvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
26000 usd
CY2023Q1 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
1169046000 usd
CY2022Q4 mp Cash Cash Equivalents And Available For Sale Debt Securities Amortized Cost
CashCashEquivalentsAndAvailableForSaleDebtSecuritiesAmortizedCost
1182092000 usd
CY2022Q4 mp Cash Equivalents And Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
CashEquivalentsAndAvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
363000 usd
CY2022Q4 mp Cash Equivalents And Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
CashEquivalentsAndAvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
110000 usd
CY2022Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
1182345000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
500000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
100000 usd
CY2023Q1 us-gaap Interest Income Debt Securities Available For Sale Operating
InterestIncomeDebtSecuritiesAvailableForSaleOperating
13300000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
494930000 usd
CY2023Q1 mp Debt Securities Available For Sale Fair Value Maturity Allocated And Single Maturity Date After Year One Through Two Years
DebtSecuritiesAvailableForSaleFairValueMaturityAllocatedAndSingleMaturityDateAfterYearOneThroughTwoYears
22901000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate
517831000 usd
CY2023Q1 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
31402000 usd
CY2022Q4 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
28590000 usd
CY2023Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
28929000 usd
CY2022Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
27212000 usd
CY2023Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
1473000 usd
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
1752000 usd
CY2023Q1 us-gaap Inventory Net
InventoryNet
61804000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
57554000 usd
CY2023Q1 us-gaap Inventory Noncurrent
InventoryNoncurrent
6844000 usd
CY2022Q4 us-gaap Inventory Noncurrent
InventoryNoncurrent
5744000 usd
CY2023Q1 mp Total Current And Non Current Inventories
TotalCurrentAndNonCurrentInventories
68648000 usd
CY2022Q4 mp Total Current And Non Current Inventories
TotalCurrentAndNonCurrentInventories
63298000 usd
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1069348000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
994478000 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
67108000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
58735000 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1002240000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
935743000 usd
CY2023Q1 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
74300000 usd
CY2022Q1 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
68000000 usd
CY2023Q1 us-gaap Property Plant And Equipment Transfers And Changes
PropertyPlantAndEquipmentTransfersAndChanges
86400000 usd
CY2020Q4 mp Technology Investment Agreement Stage Ii Optimization Contribution
TechnologyInvestmentAgreementStageIIOptimizationContribution
9600000 usd
CY2023Q1 mp Proceeds From Technology Investment Agreement Stage Ii Optimization Contribution
ProceedsFromTechnologyInvestmentAgreementStageIIOptimizationContribution
0 usd
CY2022Q1 mp Proceeds From Technology Investment Agreement Stage Ii Optimization Contribution
ProceedsFromTechnologyInvestmentAgreementStageIIOptimizationContribution
5100000 usd
CY2023Q1 mp Technology Investment Agreement Stage Ii Optimization Contribution
TechnologyInvestmentAgreementStageIIOptimizationContribution
100000 usd
CY2022Q1 mp Hree Production Project Agreement Stage Ii Optimization Contribution
HREEProductionProjectAgreementStageIIOptimizationContribution
35000000 usd
CY2023Q1 us-gaap Depreciation
Depreciation
5245000 usd
CY2022Q1 us-gaap Depreciation
Depreciation
2101000 usd
CY2023Q1 us-gaap Depletion
Depletion
2800000 usd
CY2022Q1 us-gaap Depletion
Depletion
3069000 usd
CY2023Q1 mp Demolition Costs
DemolitionCosts
2500000 usd
CY2023Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 usd
CY2022Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 usd
CY2023Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
10674000 usd
CY2022Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
11556000 usd
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
679326000 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
678444000 usd
CY2023Q1 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
200000 usd
CY2022Q4 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
200000 usd
CY2023Q1 mp Asset Retirement Obligations Estimated Undiscounted Cash Flows To Satisfy Obligation
AssetRetirementObligationsEstimatedUndiscountedCashFlowsToSatisfyObligation
50300000 usd
CY2022Q4 mp Asset Retirement Obligations Estimated Undiscounted Cash Flows To Satisfy Obligation
AssetRetirementObligationsEstimatedUndiscountedCashFlowsToSatisfyObligation
50400000 usd
CY2023Q1 mp Accrual For Environmental Loss Contingencies Remediation Term
AccrualForEnvironmentalLossContingenciesRemediationTerm
P25Y
CY2023Q1 us-gaap Accrual For Environmental Loss Contingencies Discount Rate
AccrualForEnvironmentalLossContingenciesDiscountRate
0.0293
CY2023Q1 us-gaap Accrual For Environmental Loss Contingencies Gross
AccrualForEnvironmentalLossContingenciesGross
27000000 usd
CY2022Q4 us-gaap Accrual For Environmental Loss Contingencies Gross
AccrualForEnvironmentalLossContingenciesGross
27200000 usd
CY2023Q1 us-gaap Accrued Environmental Loss Contingencies Current
AccruedEnvironmentalLossContingenciesCurrent
500000 usd
CY2022Q4 us-gaap Accrued Environmental Loss Contingencies Current
AccruedEnvironmentalLossContingenciesCurrent
500000 usd
CY2023Q1 mp Asset Retirement Obligation Closure And Reclamation Obligations Financial Assurances
AssetRetirementObligationClosureAndReclamationObligationsFinancialAssurances
43500000 usd
CY2022Q4 mp Asset Retirement Obligation Closure And Reclamation Obligations Financial Assurances
AssetRetirementObligationClosureAndReclamationObligationsFinancialAssurances
43500000 usd
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.173
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.245
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7013000 usd
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9773000 usd
CY2023Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
745000 usd
CY2022Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
406000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
176881723 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
176355566 shares
CY2023Q1 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
15584409 shares
CY2022Q1 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
15584409 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
193613539 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
193490330 shares
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
37447000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
85551000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
176881723 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
176355566 shares
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.21
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.49
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
37447000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
85551000 usd
CY2023Q1 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
1086000 usd
CY2022Q1 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
988000 usd
CY2023Q1 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
38533000 usd
CY2022Q1 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
86539000 usd
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
193613539 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
193490330 shares
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.20
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.45
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.173
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.245
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
105000 usd
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
83000 usd
CY2023Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
CY2022Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2500000 usd
CY2023Q1 us-gaap Increase Decrease In Construction Payables
IncreaseDecreaseInConstructionPayables
-130000 usd
CY2022Q1 us-gaap Increase Decrease In Construction Payables
IncreaseDecreaseInConstructionPayables
13096000 usd
CY2023Q1 mp Notes Reduction Due To Revenue Recognized In Exchange
NotesReductionDueToRevenueRecognizedInExchange
0 usd
CY2022Q1 mp Notes Reduction Due To Revenue Recognized In Exchange
NotesReductionDueToRevenueRecognizedInExchange
13566000 usd

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