$MP
MP Materials Corp. / DE Stock $mp

$mp Overview Financials Valuation SEC Filings Company Website

2024 Q2 Form 10-Q Financial Statement

#000180136824000045 Filed on May 03, 2024

Income Statement

Concept	2024 Q2	2024 Q1	2023 Q4
Revenue	$31.26M	$48.68M	$41.21M
YoY Change	-51.18%	-49.13%	-55.81%
Cost Of Revenue	$41.46M	$35.59M	$23.58M
YoY Change	82.66%	46.99%	-3.91%
Gross Profit	-$10.21M	$13.09M	$17.63M
YoY Change	-124.71%	-81.69%	-74.34%
Gross Profit Margin	-32.65%	26.89%	42.78%
Selling, General & Admin	$21.43M	$21.27M	$21.42M
YoY Change	13.62%	9.61%	10.87%
% of Gross Profit		162.47%	121.49%
Research & Development	$189.0K	$4.206M
YoY Change
% of Gross Profit		32.13%
Depreciation & Amortization	$18.21M	$18.39M	$18.61M
YoY Change	49.23%	126.36%	232.72%
% of Gross Profit		140.45%	105.57%
Operating Expenses	$21.43M	$21.27M	$41.31M
YoY Change	13.62%	9.61%	34.48%
Operating Profit	-$53.49M	-$32.43M	-$23.68M
YoY Change	-11174.95%	-198.39%	-162.34%
Interest Expense	-$6.745M	-$2.857M	-$1.107M
YoY Change	381.79%	110.23%	-16.83%
% of Operating Profit
Other Income/Expense, Net	$12.08M	$12.66M	$14.08M
YoY Change	-12.57%	-7.57%	28.53%
Pretax Income	-$48.15M	$23.63M	-$20.66M
YoY Change	-472.93%	-47.83%	-143.87%
Income Tax	-$14.10M	$7.144M	-$4.398M
% Of Pretax Income		30.23%
Net Earnings	-$34.06M	$16.49M	-$16.26M
YoY Change	-560.51%	-55.97%	-124.26%
Net Earnings / Revenue	-108.95%	33.87%	-39.46%
Basic Earnings Per Share	-$0.21	$0.09
Diluted Earnings Per Share	-$0.21	-$0.08	-$0.09
COMMON SHARES
Basic Shares Outstanding	165.3M shares	178.1M shares	177.8M shares
Diluted Shares Outstanding	165.3M shares	186.8M shares

Balance Sheet

Concept	2024 Q2	2024 Q1	2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments	$937.0M	$946.8M	$997.8M
YoY Change	-16.94%	-19.01%	-15.6%
Cash & Equivalents	$295.6M	$296.5M	$263.4M
Short-Term Investments	$641.4M	$650.3M	$734.5M
Other Short-Term Assets	$10.42M	$10.02M	$8.820M
YoY Change	-18.6%	-26.13%	-53.26%
Inventory	$115.4M	$108.5M	$95.18M
Prepaid Expenses
Receivables	$8.459M	$21.60M	$10.03M
Other Receivables	$19.37M	$19.30M	$19.30M
Total Short-Term Assets	$1.091B	$1.106B	$1.131B
YoY Change	-10.89%	-12.72%	-12.57%
LONG-TERM ASSETS
Property, Plant & Equipment	$1.217B	$1.196B	$1.158B
YoY Change	16.48%	19.38%	23.76%
Goodwill
YoY Change
Intangibles	$8.283M	$8.582M	$8.881M
YoY Change			9878.65%
Long-Term Investments	$9.339M	$9.600M	$9.700M
YoY Change
Other Assets	$12.54M	$8.889M	$5.252M
YoY Change	293.5%	91.99%	112.46%
Total Long-Term Assets	$1.274B	$1.248B	$1.205B
YoY Change	19.53%	23.1%	27.68%
TOTAL ASSETS
Total Short-Term Assets	$1.091B	$1.106B	$1.131B
Total Long-Term Assets	$1.274B	$1.248B	$1.205B
Total Assets	$2.364B	$2.354B	$2.336B
YoY Change	3.27%	3.2%	4.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$19.76M	$26.14M	$28.00M
YoY Change	-72.45%	-61.88%	-61.26%
Accrued Expenses	$74.94M	$73.99M	$73.94M
YoY Change	24881.0%		29.86%
Deferred Revenue	$50.00M		$0.00
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due	$2.240M	$2.061M	$2.301M
YoY Change	-10.4%	-11.43%
Total Short-Term Liabilities	$158.1M	$107.5M	$108.6M
YoY Change	108.62%	14.56%	11.36%
LONG-TERM LIABILITIES
Long-Term Debt	$936.6M	$935.6M	$682.0M
YoY Change	37.69%	37.72%	0.52%
Other Long-Term Liabilities	$5.504M	$4.247M	$3.025M
YoY Change	40.37%	-4.86%	-39.5%
Total Long-Term Liabilities	$1.097B	$1.109B	$862.1M
YoY Change	29.28%	32.72%	4.16%
TOTAL LIABILITIES
Total Short-Term Liabilities	$158.1M	$107.5M	$108.6M
Total Long-Term Liabilities	$1.097B	$1.109B	$862.1M
Total Liabilities	$1.255B	$1.216B	$970.7M
YoY Change	35.78%	30.88%	4.92%
SHAREHOLDERS EQUITY
Retained Earnings	$368.2M	$402.2M	$385.7M
YoY Change	-9.38%	0.84%	6.73%
Common Stock	$18.00K	$18.00K	$17.00K
YoY Change	5.88%	5.88%	-5.56%
Preferred Stock
YoY Change
Treasury Stock (at cost)	$202.6M	$202.6M	$0.00
YoY Change
Treasury Stock Shares
Shareholders Equity	$1.109B	$1.138B	$1.366B
YoY Change
Total Liabilities & Shareholders Equity	$2.364B	$2.354B	$2.336B
YoY Change	3.27%	3.2%	4.41%

Cashflow Statement

Concept	2024 Q2	2024 Q1	2023 Q4
OPERATING ACTIVITIES
Net Income	-$34.06M	$16.49M	-$16.26M
YoY Change	-560.51%	-55.97%	-124.26%
Depreciation, Depletion And Amortization	$18.21M	$18.39M	$18.61M
YoY Change	49.23%	126.36%	232.72%
Cash From Operating Activities	$30.84M	-$41.13M	-$13.80M
YoY Change	208.42%	-174.11%	-147.43%
INVESTING ACTIVITIES
Capital Expenditures	$46.49M	$51.84M	$73.00M
YoY Change	-16.54%	-30.38%	-34.98%
Acquisitions
YoY Change
Other Investing Activities	$16.74M	$92.55M	-$196.2M
YoY Change	-94.8%	-82.75%	-3.34%
Cash From Investing Activities	-$29.74M	$40.71M	-$269.1M
YoY Change	-111.19%	-91.19%	-14.64%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-1.554M	$32.92M	-1.317M
YoY Change	94.25%	-582.56%	-72.31%
NET CHANGE
Cash From Operating Activities	30.84M	-$41.13M	-13.80M
Cash From Investing Activities	-29.74M	$40.71M	-269.1M
Cash From Financing Activities	-1.554M	$32.92M	-1.317M
Net Change In Cash	-456.0K	$32.51M	-284.2M
YoY Change	-100.17%	-93.64%	-2.3%
FREE CASH FLOW
Cash From Operating Activities	$30.84M	-$41.13M	-$13.80M
Capital Expenditures	$46.49M	$51.84M	$73.00M
Free Cash Flow	-$15.65M	-$92.96M	-$86.80M
YoY Change	-65.76%	390.03%	4.36%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2023Q1	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	19403000	usd
CY2024Q1	us-gaap	Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax	-275000	usd
CY2024Q1	us-gaap	Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount	336000	usd
CY2023Q1	us-gaap	Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount	745000	usd
CY2024Q1	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	36612579	shares
CY2023Q1	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	4245	shares
CY2024Q1	us-gaap	Net Income Loss NetIncomeLoss	16489000	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	37447000	usd
CY2024Q1	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	7420000	usd
CY2023Q4	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	6616000	usd
CY2024Q1	us-gaap	Liabilities Current LiabilitiesCurrent	107546000	usd
CY2023Q4	us-gaap	Liabilities Current LiabilitiesCurrent	108550000	usd
CY2024Q1	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	935585000	usd
CY2023Q4	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	681980000	usd
CY2024Q1	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	6573000	usd
CY2023Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	178082383	shares
CY2024Q1	mp	Cost Of Revenue Excluding Depreciation Depletion And Amortization CostOfRevenueExcludingDepreciationDepletionAndAmortization	35594000	usd
CY2023Q1	mp	Cost Of Revenue Excluding Depreciation Depletion And Amortization CostOfRevenueExcludingDepreciationDepletionAndAmortization	24216000	usd
CY2024Q1	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	21267000	usd
CY2024Q1	us-gaap	Net Income Loss NetIncomeLoss	16489000	usd
CY2023Q1	us-gaap	Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax	-58000	usd
CY2023Q4	us-gaap	Operating Lease Liability Current Statement Of Financial Position Extensible List OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2024#OtherLiabilitiesCurrent
CY2024Q1	us-gaap	Operating Lease Liability Current Statement Of Financial Position Extensible List OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2024#OtherLiabilitiesCurrent
CY2023Q4	us-gaap	Finance Lease Right Of Use Asset Statement Of Financial Position Extensible List FinanceLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2024#OtherAssetsNoncurrent
CY2024Q1	us-gaap	Finance Lease Right Of Use Asset Statement Of Financial Position Extensible List FinanceLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2024#OtherAssetsNoncurrent
CY2024Q1	us-gaap	Finance Lease Liability Current Statement Of Financial Position Extensible List FinanceLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2024#OtherLiabilitiesCurrent
CY2023Q4	us-gaap	Finance Lease Liability Current Statement Of Financial Position Extensible List FinanceLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2024#OtherLiabilitiesCurrent
CY2024Q1	us-gaap	Finance Lease Liability Noncurrent Statement Of Financial Position Extensible List FinanceLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2024#OtherLiabilitiesNoncurrent
CY2023Q4	us-gaap	Finance Lease Liability Noncurrent Statement Of Financial Position Extensible List FinanceLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2024#OtherLiabilitiesNoncurrent
CY2024Q1	us-gaap	Asset Retirement Obligations Noncurrent AssetRetirementObligationsNoncurrent	5576000	usd
CY2023Q4	us-gaap	Asset Retirement Obligations Noncurrent AssetRetirementObligationsNoncurrent	5518000	usd
CY2024Q1	us-gaap	Accrued Environmental Loss Contingencies Noncurrent AccruedEnvironmentalLossContingenciesNoncurrent	16532000	usd
CY2023Q4	us-gaap	Accrued Environmental Loss Contingencies Noncurrent AccruedEnvironmentalLossContingenciesNoncurrent	16545000	usd
CY2023Q4	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	6829000	usd
CY2024Q1	us-gaap	Deferred Income Noncurrent DeferredIncomeNoncurrent	18349000	usd
CY2023Q4	us-gaap	Deferred Income Noncurrent DeferredIncomeNoncurrent	17433000	usd
CY2024Q1	us-gaap	Deferred Income Tax Liabilities Net DeferredIncomeTaxLiabilitiesNet	121877000	usd
CY2023Q4	us-gaap	Deferred Income Tax Liabilities Net DeferredIncomeTaxLiabilitiesNet	130793000	usd
CY2024Q1	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	4247000	usd
CY2023Q4	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	3025000	usd
CY2024Q1	us-gaap	Liabilities Noncurrent LiabilitiesNoncurrent	1108739000	usd
CY2023Q4	us-gaap	Liabilities Noncurrent LiabilitiesNoncurrent	862123000	usd
CY2024Q1	us-gaap	Liabilities Liabilities	1216285000	usd
CY2023Q4	us-gaap	Liabilities Liabilities	970673000	usd
CY2024Q1	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		usd
CY2023Q4	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		usd
CY2023Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2024Q1	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2024Q1	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	50000000	shares
CY2023Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	50000000	shares
CY2023Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2024Q1	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2023Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2024Q1	us-gaap	Preferred Stock Value PreferredStockValue	0	usd
CY2023Q4	us-gaap	Preferred Stock Value PreferredStockValue	0	usd
CY2024Q1	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.0001
CY2023Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.0001
CY2024Q1	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	450000000	shares
CY2023Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	450000000	shares
CY2024Q1	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	178319495	shares
CY2024Q1	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	165307107	shares
CY2023Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	178082383	shares
CY2024Q1	us-gaap	Common Stock Value CommonStockValue	18000	usd
CY2023Q4	us-gaap	Common Stock Value CommonStockValue	17000	usd
CY2024Q1	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	938209000	usd
CY2023Q4	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	979891000	usd
CY2024Q1	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	402215000	usd
CY2023Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	385726000	usd
CY2024Q1	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	-130000	usd
CY2023Q4	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	145000	usd
CY2024Q1	us-gaap	Treasury Stock Common Shares TreasuryStockCommonShares	13012388	shares
CY2023Q4	us-gaap	Treasury Stock Common Shares TreasuryStockCommonShares	0	shares
CY2024Q1	us-gaap	Treasury Stock Value TreasuryStockValue	202558000	usd
CY2023Q4	us-gaap	Treasury Stock Value TreasuryStockValue	0	usd
CY2024Q1	us-gaap	Stockholders Equity StockholdersEquity	1137754000	usd
CY2023Q4	us-gaap	Stockholders Equity StockholdersEquity	1365779000	usd
CY2024Q1	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	2354039000	usd
CY2023Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	2336452000	usd
CY2024Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	48684000	usd
CY2023Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	95700000	usd
CY2024Q1	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	18385000	usd
CY2023Q1	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	8122000	usd
CY2024Q1	mp	Start Up Costs StartUpCosts	1287000	usd
CY2023Q1	mp	Start Up Costs StartUpCosts	4669000	usd
CY2024Q1	mp	Advanced Projects And Development Costs AdvancedProjectsAndDevelopmentCosts	4206000	usd
CY2023Q1	mp	Advanced Projects And Development Costs AdvancedProjectsAndDevelopmentCosts	3611000	usd
CY2024Q1	us-gaap	Other Cost And Expense Operating OtherCostAndExpenseOperating	377000	usd
CY2023Q1	us-gaap	Other Cost And Expense Operating OtherCostAndExpenseOperating	2717000	usd
CY2024Q1	us-gaap	Costs And Expenses CostsAndExpenses	81116000	usd
CY2023Q1	us-gaap	Costs And Expenses CostsAndExpenses	62738000	usd
CY2024Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	-32432000	usd
CY2023Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	32962000	usd
CY2024Q1	us-gaap	Interest Expense Nonoperating InterestExpenseNonoperating	2857000	usd
CY2023Q1	us-gaap	Interest Expense Nonoperating InterestExpenseNonoperating	1359000	usd
CY2024Q1	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	46265000	usd
CY2023Q1	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	0	usd
CY2024Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	12657000	usd
CY2023Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	13693000	usd
CY2024Q1	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	23633000	usd
CY2023Q1	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	45296000	usd
CY2024Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	7144000	usd
CY2023Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	7849000	usd
CY2024Q1	us-gaap	Net Income Loss NetIncomeLoss	16489000	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	37447000	usd
CY2024Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.09
CY2023Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.21
CY2024Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.08
CY2023Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.20
CY2024Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	174556850	shares
CY2023Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	176881723	shares
CY2024Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	186791826	shares
CY2023Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	193613539	shares
CY2024Q1	us-gaap	Net Income Loss NetIncomeLoss	16489000	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	37447000	usd
CY2024Q1	us-gaap	Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax	-275000	usd
CY2023Q1	us-gaap	Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax	-58000	usd
CY2024Q1	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	16214000	usd
CY2023Q1	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	37389000	usd
CY2023Q4	us-gaap	Stockholders Equity StockholdersEquity	1365779000	usd
CY2024Q1	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	7803000	usd
CY2024Q1	us-gaap	Adjustments Related To Tax Withholding For Share Based Compensation AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation	3950000	usd
CY2024Q1	us-gaap	Treasury Stock Value Acquired Cost Method TreasuryStockValueAcquiredCostMethod	202558000	usd
CY2024Q1	us-gaap	Stock Issued During Period Value Issued For Services StockIssuedDuringPeriodValueIssuedForServices	3737000	usd
CY2024Q1	mp	Adjustments To Additional Paid In Capital Purchase Of Capped Call Transactions AdjustmentsToAdditionalPaidInCapitalPurchaseOfCappedCallTransactions	49271000	usd
CY2024Q1	us-gaap	Stockholders Equity StockholdersEquity	1137754000	usd
CY2022Q4	us-gaap	Stockholders Equity StockholdersEquity	1312634000	usd
CY2023Q1	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	7758000	usd
CY2023Q1	us-gaap	Adjustments Related To Tax Withholding For Share Based Compensation AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation	5976000	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	37447000	usd
CY2023Q1	us-gaap	Stockholders Equity StockholdersEquity	1351805000	usd
CY2024Q1	us-gaap	Net Income Loss NetIncomeLoss	16489000	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	37447000	usd
CY2024Q1	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	18385000	usd
CY2023Q1	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	8122000	usd
CY2024Q1	us-gaap	Accretion Expense Including Asset Retirement Obligations AccretionExpenseIncludingAssetRetirementObligations	231000	usd
CY2023Q1	us-gaap	Accretion Expense Including Asset Retirement Obligations AccretionExpenseIncludingAssetRetirementObligations	227000	usd
CY2024Q1	us-gaap	Accretion Amortization Of Discounts And Premiums Investments AccretionAmortizationOfDiscountsAndPremiumsInvestments	8493000	usd
CY2023Q1	us-gaap	Accretion Amortization Of Discounts And Premiums Investments AccretionAmortizationOfDiscountsAndPremiumsInvestments	8842000	usd
CY2024Q1	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	46265000	usd
CY2023Q1	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	0	usd
CY2024Q1	us-gaap	Gain Loss On Disposition Of Assets1 GainLossOnDispositionOfAssets1	-45000	usd
CY2023Q1	us-gaap	Gain Loss On Disposition Of Assets1 GainLossOnDispositionOfAssets1	5000	usd
CY2024Q1	us-gaap	Share Based Compensation ShareBasedCompensation	7467000	usd
CY2023Q1	us-gaap	Share Based Compensation ShareBasedCompensation	7013000	usd
CY2024Q1	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	913000	usd
CY2023Q1	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	882000	usd
CY2024Q1	us-gaap	Inventory Write Down InventoryWriteDown	5991000	usd
CY2023Q1	us-gaap	Inventory Write Down InventoryWriteDown	0	usd
CY2024Q1	us-gaap	Increase Decrease In Deferred Income Taxes IncreaseDecreaseInDeferredIncomeTaxes	-7144000	usd
CY2023Q1	us-gaap	Increase Decrease In Deferred Income Taxes IncreaseDecreaseInDeferredIncomeTaxes	-7377000	usd
CY2024Q1	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	11571000	usd
CY2023Q1	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	-11611000	usd
CY2024Q1	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	20943000	usd
CY2023Q1	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	5024000	usd
CY2024Q1	us-gaap	Increase Decrease In Other Receivables IncreaseDecreaseInOtherReceivables	1617000	usd
CY2023Q1	us-gaap	Increase Decrease In Other Receivables IncreaseDecreaseInOtherReceivables	0	usd
CY2024Q1	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	3243000	usd
CY2023Q1	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-123000	usd
CY2024Q1	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	-7633000	usd
CY2023Q1	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	-3586000	usd
CY2024Q1	mp	Increase Decrease In Deferred Government Grant IncreaseDecreaseInDeferredGovernmentGrant	1489000	usd
CY2023Q1	mp	Increase Decrease In Deferred Government Grant IncreaseDecreaseInDeferredGovernmentGrant	0	usd
CY2024Q1	us-gaap	Increase Decrease In Other Operating Liabilities IncreaseDecreaseInOtherOperatingLiabilities	485000	usd
CY2023Q1	us-gaap	Increase Decrease In Other Operating Liabilities IncreaseDecreaseInOtherOperatingLiabilities	146000	usd
CY2024Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-41126000	usd
CY2023Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	55491000	usd
CY2024Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	51838000	usd
CY2023Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	74462000	usd
CY2024Q1	us-gaap	Payments To Acquire Available For Sale Securities Debt PaymentsToAcquireAvailableForSaleSecuritiesDebt	390608000	usd
CY2023Q1	us-gaap	Payments To Acquire Available For Sale Securities Debt PaymentsToAcquireAvailableForSaleSecuritiesDebt	320884000	usd
CY2024Q1	us-gaap	Proceeds From Sale Of Available For Sale Securities Debt ProceedsFromSaleOfAvailableForSaleSecuritiesDebt	22954000	usd
CY2023Q1	us-gaap	Proceeds From Sale Of Available For Sale Securities Debt ProceedsFromSaleOfAvailableForSaleSecuritiesDebt	447227000	usd
CY2024Q1	us-gaap	Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities	460110000	usd
CY2023Q1	us-gaap	Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities	410307000	usd
CY2024Q1	mp	Proceeds From Government Reimbursements For Property Plant And Equipment ProceedsFromGovernmentReimbursementsForPropertyPlantAndEquipment	96000	usd
CY2023Q1	mp	Proceeds From Government Reimbursements For Property Plant And Equipment ProceedsFromGovernmentReimbursementsForPropertyPlantAndEquipment	0	usd
CY2024Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	40714000	usd
CY2023Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	462188000	usd
CY2024Q1	us-gaap	Proceeds From Issuance Of Long Term Debt ProceedsFromIssuanceOfLongTermDebt	747500000	usd
CY2023Q1	us-gaap	Proceeds From Issuance Of Long Term Debt ProceedsFromIssuanceOfLongTermDebt	0	usd
CY2024Q1	us-gaap	Payments Of Debt Issuance Costs PaymentsOfDebtIssuanceCosts	15125000	usd
CY2023Q1	us-gaap	Payments Of Debt Issuance Costs PaymentsOfDebtIssuanceCosts	0	usd
CY2024Q1	us-gaap	Repayments Of Convertible Debt RepaymentsOfConvertibleDebt	428599000	usd
CY2023Q1	us-gaap	Repayments Of Convertible Debt RepaymentsOfConvertibleDebt	0	usd
CY2024Q1	us-gaap	Payments For Derivative Instrument Financing Activities PaymentsForDerivativeInstrumentFinancingActivities	65332000	usd
CY2023Q1	us-gaap	Payments For Derivative Instrument Financing Activities PaymentsForDerivativeInstrumentFinancingActivities	0	usd
CY2024Q1	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	200764000	usd
CY2023Q1	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	0	usd
CY2024Q1	us-gaap	Repayments Of Other Long Term Debt RepaymentsOfOtherLongTermDebt	811000	usd
CY2023Q1	us-gaap	Repayments Of Other Long Term Debt RepaymentsOfOtherLongTermDebt	846000	usd
CY2024Q1	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	3949000	usd
CY2023Q1	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	5976000	usd
CY2024Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	32920000	usd
CY2023Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-6822000	usd
CY2024Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	32508000	usd
CY2023Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	510857000	usd
CY2023Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	264988000	usd
CY2022Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	143509000	usd
CY2024Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	297496000	usd
CY2023Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	654366000	usd
CY2024Q1	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	296468000	usd
CY2023Q1	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	651215000	usd
CY2024Q1	us-gaap	Restricted Cash Current RestrictedCashCurrent	692000	usd
CY2023Q1	us-gaap	Restricted Cash Current RestrictedCashCurrent	2552000	usd
CY2024Q1	us-gaap	Restricted Cash Noncurrent RestrictedCashNoncurrent	336000	usd
CY2023Q1	us-gaap	Restricted Cash Noncurrent RestrictedCashNoncurrent	599000	usd
CY2024Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	297496000	usd
CY2023Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	654366000	usd
CY2024Q1	us-gaap	Number Of Reportable Segments NumberOfReportableSegments	1	segment
CY2024Q1	us-gaap	Use Of Estimates UseOfEstimates	<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.</span>
CY2024Q1	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments that potentially subject the Company to credit risk consist principally of cash, cash equivalents and short-term investments, and receivables from customers. 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.</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%">As of March 31, 2024, Shenghe was the Company’s principal customer and accounted for more than 80% of revenue. 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 2023 primarily due to concerns over the global economic conditions and actual or perceived concerns over increases in the supply of or slower growth in the demand for rare earth products. Furthermore, while revenue is generated in the U.S., Shenghe conducts its primary operations in China and may transport and sell products in the Chinese market. <span id="i230f3801a68b454980579024b30a408d_9309"></span>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, the ongoing economic conflict between China and the U.S., which has previously resulted in tariffs and trade barriers, 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="#i543312288d514ae289940a0ad67d427a_85" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Note </a></span><span style="color:#0000ee;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">19</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="#i543312288d514ae289940a0ad67d427a_85" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">, “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>
CY2024Q1	us-gaap	Share Repurchase Program Excise Tax Payable ShareRepurchaseProgramExciseTaxPayable	1800000	usd
CY2024Q1	us-gaap	Prior Period Reclassification Adjustment Description PriorPeriodReclassificationAdjustmentDescription	<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain amounts in prior periods have been reclassified to conform to the current year presentation.</span>
CY2024Q1	mp	Cash And Cash Equivalents Amortized Cost CashAndCashEquivalentsAmortizedCost	296480000	usd
CY2024Q1	mp	Cash Equivalents Accumulated Gross Unrealized Gains Before Tax CashEquivalentsAccumulatedGrossUnrealizedGainsBeforeTax	2000	usd
CY2024Q1	mp	Cash Equivalents Accumulated Gross Unrealized Loss Before Tax CashEquivalentsAccumulatedGrossUnrealizedLossBeforeTax	14000	usd
CY2024Q1	us-gaap	Cash And Cash Equivalents Fair Value Disclosure CashAndCashEquivalentsFairValueDisclosure	296468000	usd
CY2023Q4	mp	Cash And Cash Equivalents Amortized Cost CashAndCashEquivalentsAmortizedCost	263320000	usd
CY2023Q4	mp	Cash Equivalents Accumulated Gross Unrealized Gains Before Tax CashEquivalentsAccumulatedGrossUnrealizedGainsBeforeTax	31000	usd
CY2023Q4	mp	Cash Equivalents Accumulated Gross Unrealized Loss Before Tax CashEquivalentsAccumulatedGrossUnrealizedLossBeforeTax	0	usd
CY2023Q4	us-gaap	Cash And Cash Equivalents Fair Value Disclosure CashAndCashEquivalentsFairValueDisclosure	263351000	usd
CY2024Q1	us-gaap	Available For Sale Debt Securities Amortized Cost Basis AvailableForSaleDebtSecuritiesAmortizedCostBasis	650369000	usd
CY2024Q1	us-gaap	Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax	23000	usd
CY2024Q1	us-gaap	Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax	93000	usd
CY2024Q1	us-gaap	Available For Sale Securities Debt Securities Current AvailableForSaleSecuritiesDebtSecuritiesCurrent	650299000	usd
CY2023Q4	us-gaap	Available For Sale Debt Securities Amortized Cost Basis AvailableForSaleDebtSecuritiesAmortizedCostBasis	734332000	usd
CY2023Q4	us-gaap	Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax	249000	usd
CY2023Q4	us-gaap	Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax	88000	usd
CY2023Q4	us-gaap	Available For Sale Securities Debt Securities Current AvailableForSaleSecuritiesDebtSecuritiesCurrent	734493000	usd
CY2024Q1	mp	Cash Cash Equivalents And Available For Sale Debt Securities Amortized Cost CashCashEquivalentsAndAvailableForSaleDebtSecuritiesAmortizedCost	946849000	usd
CY2024Q1	mp	Cash Equivalents And Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax CashEquivalentsAndAvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax	25000	usd
CY2024Q1	mp	Cash Equivalents And Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax CashEquivalentsAndAvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax	107000	usd
CY2024Q1	us-gaap	Cash Cash Equivalents And Short Term Investments CashCashEquivalentsAndShortTermInvestments	946767000	usd
CY2023Q4	mp	Cash Cash Equivalents And Available For Sale Debt Securities Amortized Cost CashCashEquivalentsAndAvailableForSaleDebtSecuritiesAmortizedCost	997652000	usd
CY2023Q4	mp	Cash Equivalents And Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax CashEquivalentsAndAvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax	280000	usd
CY2023Q4	mp	Cash Equivalents And Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax CashEquivalentsAndAvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax	88000	usd
CY2023Q4	us-gaap	Cash Cash Equivalents And Short Term Investments CashCashEquivalentsAndShortTermInvestments	997844000	usd
CY2024Q1	us-gaap	Debt Securities Available For Sale Realized Gain DebtSecuritiesAvailableForSaleRealizedGain	2000	usd
CY2023Q1	us-gaap	Debt Securities Available For Sale Realized Gain DebtSecuritiesAvailableForSaleRealizedGain	505000	usd
CY2024Q1	us-gaap	Debt Securities Available For Sale Realized Loss DebtSecuritiesAvailableForSaleRealizedLoss	6000	usd
CY2023Q1	us-gaap	Debt Securities Available For Sale Realized Loss DebtSecuritiesAvailableForSaleRealizedLoss	139000	usd
CY2024Q1	us-gaap	Interest Income Debt Securities Available For Sale Operating InterestIncomeDebtSecuritiesAvailableForSaleOperating	12870000	usd
CY2023Q1	us-gaap	Interest Income Debt Securities Available For Sale Operating InterestIncomeDebtSecuritiesAvailableForSaleOperating	13347000	usd
CY2024Q1	us-gaap	Available For Sale Securities Debt Maturities Within One Year Fair Value AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue	811200000	usd
CY2024Q1	us-gaap	Inventory Raw Materials And Supplies Net Of Reserves InventoryRawMaterialsAndSuppliesNetOfReserves	43808000	usd
CY2023Q4	us-gaap	Inventory Raw Materials And Supplies Net Of Reserves InventoryRawMaterialsAndSuppliesNetOfReserves	42371000	usd
CY2024Q1	mp	Inventory Mined Ore Stockpiles Net Of Reserves Current InventoryMinedOreStockpilesNetOfReservesCurrent	29694000	usd
CY2023Q4	mp	Inventory Mined Ore Stockpiles Net Of Reserves Current InventoryMinedOreStockpilesNetOfReservesCurrent	28507000	usd
CY2024Q1	us-gaap	Inventory Work In Process Net Of Reserves InventoryWorkInProcessNetOfReserves	27141000	usd
CY2023Q4	us-gaap	Inventory Work In Process Net Of Reserves InventoryWorkInProcessNetOfReserves	15019000	usd
CY2024Q1	us-gaap	Inventory Finished Goods Net Of Reserves InventoryFinishedGoodsNetOfReserves	7866000	usd
CY2023Q4	us-gaap	Inventory Finished Goods Net Of Reserves InventoryFinishedGoodsNetOfReserves	9285000	usd
CY2024Q1	us-gaap	Inventory Net InventoryNet	108509000	usd
CY2023Q4	us-gaap	Inventory Net InventoryNet	95182000	usd
CY2024Q1	us-gaap	Inventory Noncurrent InventoryNoncurrent	14531000	usd
CY2023Q4	us-gaap	Inventory Noncurrent InventoryNoncurrent	13350000	usd
CY2024Q1	mp	Total Current And Non Current Inventories TotalCurrentAndNonCurrentInventories	123040000	usd
CY2023Q4	mp	Total Current And Non Current Inventories TotalCurrentAndNonCurrentInventories	108532000	usd
CY2024Q1	mp	Inventory Mined Ore Stockpiles Net Of Reserves Non Current InventoryMinedOreStockpilesNetOfReservesNonCurrent	9600000	usd
CY2023Q4	mp	Inventory Mined Ore Stockpiles Net Of Reserves Non Current InventoryMinedOreStockpilesNetOfReservesNonCurrent	9100000	usd
CY2024Q1	us-gaap	Inventory Write Down InventoryWriteDown	6000000	usd
CY2024Q1	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	1329495000	usd
CY2023Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	1272682000	usd
CY2024Q1	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	133009000	usd
CY2023Q4	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	114628000	usd
CY2024Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	1196486000	usd
CY2023Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	1158054000	usd
CY2024Q1	us-gaap	Property Plant And Equipment Additions PropertyPlantAndEquipmentAdditions	56600000	usd
CY2023Q1	us-gaap	Property Plant And Equipment Additions PropertyPlantAndEquipmentAdditions	74300000	usd
CY2024Q1	us-gaap	Depreciation Depreciation	14900000	usd
CY2023Q1	us-gaap	Depreciation Depreciation	5245000	usd
CY2024Q1	us-gaap	Depletion Depletion	3132000	usd
CY2023Q1	us-gaap	Depletion Depletion	2800000	usd
CY2023Q1	mp	Demolition Costs DemolitionCosts	2500000	usd
CY2023Q1	us-gaap	Asset Impairment Charges AssetImpairmentCharges	0	usd
CY2024Q1	us-gaap	Asset Impairment Charges AssetImpairmentCharges	0	usd
CY2024Q1	us-gaap	Equity Method Investments EquityMethodInvestments	9600000	usd
CY2023Q4	us-gaap	Equity Method Investments EquityMethodInvestments	9700000	usd
CY2024Q1	us-gaap	Equity Method Investment Other Than Temporary Impairment EquityMethodInvestmentOtherThanTemporaryImpairment	0	usd
CY2023Q4	mp	Asset Retirement Obligation Closure And Reclamation Obligations Financial Assurances AssetRetirementObligationClosureAndReclamationObligationsFinancialAssurances	45400000	usd
CY2024Q1	us-gaap	Indefinite Lived Intangible Assets Excluding Goodwill IndefiniteLivedIntangibleAssetsExcludingGoodwill	316000	usd
CY2023Q4	us-gaap	Indefinite Lived Intangible Assets Excluding Goodwill IndefiniteLivedIntangibleAssetsExcludingGoodwill	316000	usd
CY2024Q1	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	8963000	usd
CY2023Q4	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	8963000	usd
CY2024Q1	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	697000	usd
CY2023Q4	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	398000	usd
CY2024Q1	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	8266000	usd
CY2023Q4	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	8565000	usd
CY2024Q1	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	8582000	usd
CY2023Q4	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	8881000	usd
CY2024Q1	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	300000	usd
CY2023Q1	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	0	usd
CY2023Q1	us-gaap	Goodwill And Intangible Asset Impairment GoodwillAndIntangibleAssetImpairment	0	usd
CY2024Q1	us-gaap	Goodwill And Intangible Asset Impairment GoodwillAndIntangibleAssetImpairment	0	usd
CY2024Q1	us-gaap	Asset Retirement Obligation Current AssetRetirementObligationCurrent	200000	usd
CY2023Q4	us-gaap	Asset Retirement Obligation Current AssetRetirementObligationCurrent	200000	usd
CY2023Q4	mp	Asset Retirement Obligations Estimated Undiscounted Cash Flows To Satisfy Obligation AssetRetirementObligationsEstimatedUndiscountedCashFlowsToSatisfyObligation	50200000	usd
CY2024Q1	mp	Asset Retirement Obligations Estimated Undiscounted Cash Flows To Satisfy Obligation AssetRetirementObligationsEstimatedUndiscountedCashFlowsToSatisfyObligation	50200000	usd
CY2024Q1	mp	Accrual For Environmental Loss Contingencies Remediation Term AccrualForEnvironmentalLossContingenciesRemediationTerm	P24Y
CY2024Q1	us-gaap	Accrual For Environmental Loss Contingencies Discount Rate AccrualForEnvironmentalLossContingenciesDiscountRate	0.0293
CY2024Q1	us-gaap	Accrual For Environmental Loss Contingencies Gross AccrualForEnvironmentalLossContingenciesGross	26500000	usd
CY2023Q4	us-gaap	Accrual For Environmental Loss Contingencies Gross AccrualForEnvironmentalLossContingenciesGross	26700000	usd
CY2023Q4	us-gaap	Accrued Environmental Loss Contingencies Current AccruedEnvironmentalLossContingenciesCurrent	500000	usd
CY2024Q1	us-gaap	Accrued Environmental Loss Contingencies Current AccruedEnvironmentalLossContingenciesCurrent	500000	usd
CY2024Q1	mp	Asset Retirement Obligation Closure And Reclamation Obligations Financial Assurances AssetRetirementObligationClosureAndReclamationObligationsFinancialAssurances	45500000	usd
CY2024Q1	us-gaap	Employee Related Liabilities Current EmployeeRelatedLiabilitiesCurrent	8703000	usd
CY2023Q4	us-gaap	Employee Related Liabilities Current EmployeeRelatedLiabilitiesCurrent	14499000	usd
CY2024Q1	mp	Accrued Construction Costs Current AccruedConstructionCostsCurrent	55365000	usd
CY2023Q4	mp	Accrued Construction Costs Current AccruedConstructionCostsCurrent	46976000	usd
CY2024Q1	us-gaap	Accrual For Taxes Other Than Income Taxes Current AccrualForTaxesOtherThanIncomeTaxesCurrent	839000	usd
CY2023Q4	us-gaap	Accrual For Taxes Other Than Income Taxes Current AccrualForTaxesOtherThanIncomeTaxesCurrent	3373000	usd
CY2024Q1	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	9080000	usd
CY2023Q4	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	9091000	usd
CY2024Q1	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	73987000	usd
CY2023Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	73939000	usd
CY2024Q1	us-gaap	Debt Instrument Carrying Amount DebtInstrumentCarryingAmount	957500000	usd
CY2024Q1	us-gaap	Deferred Finance Costs Net DeferredFinanceCostsNet	21915000	usd
CY2024Q1	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	935585000	usd
CY2023Q4	us-gaap	Debt Instrument Carrying Amount DebtInstrumentCarryingAmount	690000000	usd
CY2023Q4	us-gaap	Deferred Finance Costs Net DeferredFinanceCostsNet	8020000	usd
CY2023Q4	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	681980000	usd
CY2024Q1	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	46300000	usd
CY2024Q1	mp	Capped Call Transactions Initial Cap Price CappedCallTransactionsInitialCapPrice	31.06
CY2024Q1	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	9705000	usd
CY2023Q4	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	10065000	usd
CY2024Q1	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	974000	usd
CY2023Q4	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	959000	usd
CY2024Q1	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	6573000	usd
CY2023Q4	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	6829000	usd
CY2024Q1	us-gaap	Operating Lease Liability OperatingLeaseLiability	7547000	usd
CY2023Q4	us-gaap	Operating Lease Liability OperatingLeaseLiability	7788000	usd
CY2024Q1	us-gaap	Finance Lease Right Of Use Asset FinanceLeaseRightOfUseAsset	536000	usd
CY2023Q4	us-gaap	Finance Lease Right Of Use Asset FinanceLeaseRightOfUseAsset	591000	usd
CY2024Q1	us-gaap	Finance Lease Liability Current FinanceLeaseLiabilityCurrent	193000	usd
CY2023Q4	us-gaap	Finance Lease Liability Current FinanceLeaseLiabilityCurrent	195000	usd
CY2024Q1	us-gaap	Finance Lease Liability Noncurrent FinanceLeaseLiabilityNoncurrent	331000	usd
CY2023Q4	us-gaap	Finance Lease Liability Noncurrent FinanceLeaseLiabilityNoncurrent	388000	usd
CY2024Q1	us-gaap	Finance Lease Liability FinanceLeaseLiability	524000	usd
CY2023Q4	us-gaap	Finance Lease Liability FinanceLeaseLiability	583000	usd
CY2024Q1	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.302
CY2023Q1	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.173
CY2024Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	48684000	usd
CY2023Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	95700000	usd
CY2024Q1	srt	Stock Repurchase Program Authorized Amount1 StockRepurchaseProgramAuthorizedAmount1	300000000	usd
CY2024Q1	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	200800000	usd
CY2024Q1	us-gaap	Treasury Stock Shares Acquired TreasuryStockSharesAcquired	13000000	shares
CY2024Q1	us-gaap	Treasury Stock Shares Acquired TreasuryStockSharesAcquired	12300000	shares
CY2024Q1	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	191600000	usd
CY2024Q1	us-gaap	Treasury Stock Acquired Average Cost Per Share TreasuryStockAcquiredAverageCostPerShare	15.53
CY2024Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Award Requisite Service Period1 ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1	P3Y
CY2024Q1	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	7467000	usd
CY2023Q1	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	7013000	usd
CY2024Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	174556850	shares
CY2023Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	176881723	shares
CY2024Q1	us-gaap	Incremental Common Shares Attributable To Conversion Of Debt Securities IncrementalCommonSharesAttributableToConversionOfDebtSecurities	12234976	shares
CY2023Q1	us-gaap	Incremental Common Shares Attributable To Conversion Of Debt Securities IncrementalCommonSharesAttributableToConversionOfDebtSecurities	15584409	shares
CY2024Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	186791826	shares
CY2023Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	193613539	shares
CY2024Q1	us-gaap	Net Income Loss NetIncomeLoss	16489000	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	37447000	usd
CY2024Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	174556850	shares
CY2023Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	176881723	shares
CY2024Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.09
CY2023Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.21
CY2024Q1	us-gaap	Extinguishment Of Debt Gain Loss Net Of Tax ExtinguishmentOfDebtGainLossNetOfTax	32279000	usd
CY2023Q1	us-gaap	Extinguishment Of Debt Gain Loss Net Of Tax ExtinguishmentOfDebtGainLossNetOfTax	0	usd
CY2024Q1	us-gaap	Net Income Loss Attributable To Parent Diluted NetIncomeLossAttributableToParentDiluted	-15050000	usd
CY2023Q1	us-gaap	Net Income Loss Attributable To Parent Diluted NetIncomeLossAttributableToParentDiluted	38533000	usd
CY2024Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	186791826	shares
CY2023Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	193613539	shares
CY2024Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.08
CY2023Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.20
CY2024Q1	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.302
CY2023Q1	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.173
CY2024Q1	us-gaap	Related Party Transaction Purchases From Related Party RelatedPartyTransactionPurchasesFromRelatedParty	1100000	usd
CY2023Q1	us-gaap	Related Party Transaction Purchases From Related Party RelatedPartyTransactionPurchasesFromRelatedParty	900000	usd
CY2024Q1	us-gaap	Interest Paid Net InterestPaidNet	594000	usd
CY2023Q1	us-gaap	Interest Paid Net InterestPaidNet	105000	usd
CY2024Q1	us-gaap	Increase Decrease In Construction Payables IncreaseDecreaseInConstructionPayables	4744000	usd
CY2023Q1	us-gaap	Increase Decrease In Construction Payables IncreaseDecreaseInConstructionPayables	-130000	usd
CY2024Q1	us-gaap	Stock Issued During Period Value Issued For Services StockIssuedDuringPeriodValueIssuedForServices	3737000	usd
CY2023Q1	us-gaap	Stock Issued During Period Value Issued For Services StockIssuedDuringPeriodValueIssuedForServices	0	usd
CY2024Q1	us-gaap	Share Repurchase Program Excise Tax ShareRepurchaseProgramExciseTax	1794000	usd
CY2023Q1	us-gaap	Share Repurchase Program Excise Tax ShareRepurchaseProgramExciseTax	0	usd

Files In Submission

Name	View Source	Status
0001801368-24-000045-index-headers.html	Edgar Link	pending
0001801368-24-000045-index.html	Edgar Link	pending
0001801368-24-000045.txt	Edgar Link	pending
0001801368-24-000045-xbrl.zip	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
MetaLinks.json	Edgar Link	pending
mp-20240331.htm	Edgar Link	pending
mp-20240331.xsd	Edgar Link	pending
mp-20240331_g1.jpg	Edgar Link	pending
mpmcexhibit10233124.htm	Edgar Link	pending
mpmcexhibit10333124.htm	Edgar Link	pending
mpmcexhibit10433124.htm	Edgar Link	pending
mpmcexhibit10533124.htm	Edgar Link	pending
mpmcexhibit10633124.htm	Edgar Link	pending
mpmcexhibit31133124.htm	Edgar Link	pending
mpmcexhibit31233124.htm	Edgar Link	pending
mpmcexhibit32133124.htm	Edgar Link	pending
mpmcexhibit32233124.htm	Edgar Link	pending
mpmcexhibit95133124.htm	Edgar Link	pending
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mp-20240331_cal.xml	Edgar Link	unprocessable
FilingSummary.xml	Edgar Link	unprocessable
mp-20240331_def.xml	Edgar Link	unprocessable
mp-20240331_lab.xml	Edgar Link	unprocessable
mp-20240331_pre.xml	Edgar Link	unprocessable
mp-20240331_htm.xml	Edgar Link	completed
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report.css	Edgar Link	pending
Show.js	Edgar Link	pending

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$MP
MP Materials Corp. / DE Stock $mp

2024 Q2 Form 10-Q Financial Statement

#000180136824000045 Filed on May 03, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$MP MP Materials Corp. / DE Stock $mp

2024 Q2 Form 10-Q Financial Statement

#000180136824000045 Filed on May 03, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$MP
MP Materials Corp. / DE Stock $mp