$MP
MP Materials Corp. / DE

2024 Q3 Form 10-Q Financial Statement

#000180136824000066 Filed on August 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q4
Revenue $62.93M $31.26M $41.21M
YoY Change 19.82% -51.18% -55.81%
Cost Of Revenue $57.27M $41.46M $23.58M
YoY Change 157.95% 82.66% -3.91%
Gross Profit $5.661M -$10.21M $17.63M
YoY Change -81.32% -124.71% -74.34%
Gross Profit Margin 9.0% -32.65% 42.78%
Selling, General & Admin $21.53M $21.43M $21.42M
YoY Change 10.04% 13.62% 10.87%
% of Gross Profit 380.23% 121.49%
Research & Development $74.00K $189.0K
YoY Change
% of Gross Profit 1.31%
Depreciation & Amortization $19.34M $18.21M $18.61M
YoY Change 15.48% 49.23% 232.72%
% of Gross Profit 341.71% 105.57%
Operating Expenses $21.53M $21.43M $41.31M
YoY Change 10.04% 13.62% 34.48%
Operating Profit -$39.54M -$53.49M -$23.68M
YoY Change 125.48% -11174.95% -162.34%
Interest Expense -$6.646M -$6.745M -$1.107M
YoY Change 374.71% 381.79% -16.83%
% of Operating Profit
Other Income/Expense, Net $11.32M $12.08M $14.08M
YoY Change -21.69% -12.57% 28.53%
Pretax Income -$34.87M -$48.15M -$20.66M
YoY Change 678.95% -472.93% -143.87%
Income Tax -$9.350M -$14.10M -$4.398M
% Of Pretax Income
Net Earnings -$25.52M -$34.06M -$16.26M
YoY Change 496.73% -560.51% -124.26%
Net Earnings / Revenue -40.55% -108.95% -39.46%
Basic Earnings Per Share -$0.16 -$0.21
Diluted Earnings Per Share -$0.16 -$0.21 -$0.09
COMMON SHARES
Basic Shares Outstanding 165.4M shares 165.3M shares 177.8M shares
Diluted Shares Outstanding 164.1M shares 165.3M shares

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $866.5M $937.0M $997.8M
YoY Change -20.11% -16.94% -15.6%
Cash & Equivalents $284.4M $295.6M $263.4M
Short-Term Investments $582.1M $641.4M $734.5M
Other Short-Term Assets $11.60M $10.42M $8.820M
YoY Change 26.08% -18.6% -53.26%
Inventory $116.7M $115.4M $95.18M
Prepaid Expenses
Receivables $14.55M $8.459M $10.03M
Other Receivables $7.846M $19.37M $19.30M
Total Short-Term Assets $1.017B $1.091B $1.131B
YoY Change -14.4% -10.89% -12.57%
LONG-TERM ASSETS
Property, Plant & Equipment $1.231B $1.217B $1.158B
YoY Change 12.1% 16.48% 23.76%
Goodwill
YoY Change
Intangibles $7.970M $8.283M $8.881M
YoY Change -13.17% 9878.65%
Long-Term Investments $9.000M $9.339M $9.700M
YoY Change
Other Assets $6.825M $12.54M $5.252M
YoY Change 67.69% 293.5% 112.46%
Total Long-Term Assets $1.283B $1.274B $1.205B
YoY Change 13.16% 19.53% 27.68%
TOTAL ASSETS
Total Short-Term Assets $1.017B $1.091B $1.131B
Total Long-Term Assets $1.283B $1.274B $1.205B
Total Assets $2.300B $2.364B $2.336B
YoY Change -0.94% 3.27% 4.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $21.71M $19.76M $28.00M
YoY Change -76.43% -72.45% -61.26%
Accrued Expenses $66.22M $74.94M $73.94M
YoY Change 9360.57% 24881.0% 29.86%
Deferred Revenue $50.00M $50.00M $0.00
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.640M $2.240M $2.301M
YoY Change 10.0% -10.4%
Total Short-Term Liabilities $146.8M $158.1M $108.6M
YoY Change 51.31% 108.62% 11.36%
LONG-TERM LIABILITIES
Long-Term Debt $937.6M $936.6M $682.0M
YoY Change 37.67% 37.69% 0.52%
Other Long-Term Liabilities $4.568M $5.504M $3.025M
YoY Change 27.67% 40.37% -39.5%
Total Long-Term Liabilities $1.089B $1.097B $862.1M
YoY Change 28.24% 29.28% 4.16%
TOTAL LIABILITIES
Total Short-Term Liabilities $146.8M $158.1M $108.6M
Total Long-Term Liabilities $1.089B $1.097B $862.1M
Total Liabilities $1.236B $1.255B $970.7M
YoY Change 30.61% 35.78% 4.92%
SHAREHOLDERS EQUITY
Retained Earnings $342.6M $368.2M $385.7M
YoY Change -14.76% -9.38% 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) $227.1M $202.6M $0.00
YoY Change
Treasury Stock Shares
Shareholders Equity $1.065B $1.109B $1.366B
YoY Change
Total Liabilities & Shareholders Equity $2.300B $2.364B $2.336B
YoY Change -0.94% 3.27% 4.41%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q4
OPERATING ACTIVITIES
Net Income -$25.52M -$34.06M -$16.26M
YoY Change 496.73% -560.51% -124.26%
Depreciation, Depletion And Amortization $19.34M $18.21M $18.61M
YoY Change 15.48% 49.23% 232.72%
Cash From Operating Activities -$6.844M $30.84M -$13.80M
YoY Change -162.22% 208.42% -147.43%
INVESTING ACTIVITIES
Capital Expenditures $46.44M $46.49M $73.00M
YoY Change -20.88% -16.54% -34.98%
Acquisitions
YoY Change
Other Investing Activities $67.17M $16.74M -$196.2M
YoY Change -120.26% -94.8% -3.34%
Cash From Investing Activities $20.73M -$29.74M -$269.1M
YoY Change -105.31% -111.19% -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 -25.33M -1.554M -1.317M
YoY Change 2432.9% 94.25% -72.31%
NET CHANGE
Cash From Operating Activities -6.844M 30.84M -13.80M
Cash From Investing Activities 20.73M -29.74M -269.1M
Cash From Financing Activities -25.33M -1.554M -1.317M
Net Change In Cash -11.45M -456.0K -284.2M
YoY Change -96.99% -100.17% -2.3%
FREE CASH FLOW
Cash From Operating Activities -$6.844M $30.84M -$13.80M
Capital Expenditures $46.44M $46.49M $73.00M
Free Cash Flow -$53.29M -$15.65M -$86.80M
YoY Change 11.71% -65.76% 4.36%

Facts In Submission

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<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>
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<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 </span><div style="margin-bottom:10pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">not believe that it is exposed to any significant risks related to its cash accounts, money market funds, or short-term investments.</span></div>As of June 30, 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="iedf76309dde343a9bcc718b59f67e988_5212"></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.
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CY2023Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
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CY2024Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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CY2024Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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CY2024Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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249000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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88000 usd
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CY2024Q2 mp Cash Cash Equivalents And Available For Sale Debt Securities Amortized Cost
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CashEquivalentsAndAvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
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CY2024Q2 mp Cash Equivalents And Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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CY2024Q2 us-gaap Cash Cash Equivalents And Short Term Investments
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CY2023Q4 mp Cash Equivalents And Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
CashEquivalentsAndAvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
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CY2023Q4 mp Cash Equivalents And Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
CashEquivalentsAndAvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
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CY2024Q2 us-gaap Debt Securities Available For Sale Realized Gain
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us-gaap Debt Securities Available For Sale Realized Gain
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CY2024Q2 us-gaap Debt Securities Available For Sale Realized Loss
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CY2023Q2 us-gaap Interest Income Debt Securities Available For Sale Operating
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us-gaap Interest Income Debt Securities Available For Sale Operating
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CY2024Q2 mp Inventory Mined Ore Stockpiles Net Of Reserves Current
InventoryMinedOreStockpilesNetOfReservesCurrent
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CY2023Q4 mp Inventory Mined Ore Stockpiles Net Of Reserves Current
InventoryMinedOreStockpilesNetOfReservesCurrent
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CY2024Q2 us-gaap Inventory Work In Process Net Of Reserves
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CY2023Q4 us-gaap Inventory Work In Process Net Of Reserves
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CY2023Q4 us-gaap Inventory Net
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InventoryMinedOreStockpilesNetOfReservesNonCurrent
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InventoryMinedOreStockpilesNetOfReservesNonCurrent
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CY2024Q2 us-gaap Inventory Valuation Reserves
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us-gaap Inventory Write Down
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us-gaap Property Plant And Equipment Additions
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us-gaap Property Plant And Equipment Additions
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Depletion
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us-gaap Depletion
Depletion
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CY2024Q2 us-gaap Asset Impairment Charges
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CY2023Q4 us-gaap Equity Method Investments
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CY2024Q2 us-gaap Equity Method Investment Other Than Temporary Impairment
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us-gaap Equity Method Investment Other Than Temporary Impairment
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CY2024Q2 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
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CY2024Q2 us-gaap Finite Lived Intangible Assets Gross
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CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
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CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
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FiniteLivedIntangibleAssetsAccumulatedAmortization
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FiniteLivedIntangibleAssetsNet
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CY2024Q2 us-gaap Intangible Assets Net Excluding Goodwill
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CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
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CY2024Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
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us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
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CY2023Q2 us-gaap Amortization Of Intangible Assets
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us-gaap Amortization Of Intangible Assets
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CY2024Q2 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
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CY2023Q2 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
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us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
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us-gaap Goodwill And Intangible Asset Impairment
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AssetRetirementObligationCurrent
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AssetRetirementObligationsEstimatedUndiscountedCashFlowsToSatisfyObligation
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AssetRetirementObligationsEstimatedUndiscountedCashFlowsToSatisfyObligation
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mp Accrual For Environmental Loss Contingencies Remediation Term
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CY2024Q2 us-gaap Accrual For Environmental Loss Contingencies Discount Rate
AccrualForEnvironmentalLossContingenciesDiscountRate
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AccrualForEnvironmentalLossContingenciesGross
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AccrualForEnvironmentalLossContingenciesGross
26700000 usd
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500000 usd
CY2024Q2 us-gaap Accrued Environmental Loss Contingencies Current
AccruedEnvironmentalLossContingenciesCurrent
500000 usd
CY2024Q2 mp Asset Retirement Obligation Closure And Reclamation Obligations Financial Assurances
AssetRetirementObligationClosureAndReclamationObligationsFinancialAssurances
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CY2023Q4 mp Asset Retirement Obligation Closure And Reclamation Obligations Financial Assurances
AssetRetirementObligationClosureAndReclamationObligationsFinancialAssurances
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CY2024Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
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AccruedConstructionCostsCurrent
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CY2024Q2 us-gaap Accrual For Taxes Other Than Income Taxes Current
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CY2023Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current
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CY2024Q2 us-gaap Other Accrued Liabilities Current
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CY2023Q4 us-gaap Other Accrued Liabilities Current
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CY2024Q2 us-gaap Accrued Liabilities Current
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CY2024Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
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CY2024Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
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CY2024Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
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CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
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CY2023Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
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CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
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us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
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CY2024Q2 mp Capped Call Transactions Initial Cap Price
CappedCallTransactionsInitialCapPrice
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CY2024Q2 us-gaap Finance Lease Impairment Loss
FinanceLeaseImpairmentLoss
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us-gaap Finance Lease Impairment Loss
FinanceLeaseImpairmentLoss
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us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
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CY2024Q2 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
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us-gaap Finance Lease Impairment Loss
FinanceLeaseImpairmentLoss
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CY2023Q2 us-gaap Finance Lease Impairment Loss
FinanceLeaseImpairmentLoss
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CY2023Q2 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
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us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
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CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
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CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
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CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
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CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
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CY2024Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
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CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
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CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
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CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
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CY2024Q2 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
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CY2023Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
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FinanceLeaseLiabilityCurrent
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CY2023Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
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FinanceLeaseLiabilityNoncurrent
288000 usd
CY2023Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
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CY2024Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
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CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
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CY2024Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2024Q2 mp Contract With Customer Liability Additions
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CY2024Q2 us-gaap Contract With Customer Liability Current
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CY2024Q1 us-gaap Payments For Repurchase Of Common Stock
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CY2024Q1 us-gaap Treasury Stock Shares Acquired
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CY2024Q1 us-gaap Payments For Repurchase Of Common Stock
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CY2024Q1 us-gaap Treasury Stock Acquired Average Cost Per Share
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CY2024Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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AllocatedShareBasedCompensationExpense
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CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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us-gaap Allocated Share Based Compensation Expense
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CY2024Q2 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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CY2023Q2 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
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us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
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us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
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CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2024Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2023Q2 us-gaap Net Income Loss
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us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
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CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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EarningsPerShareBasic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Earnings Per Share Basic
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CY2024Q2 us-gaap Net Income Loss
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CY2023Q2 us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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CY2024Q2 us-gaap Extinguishment Of Debt Gain Loss Net Of Tax
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us-gaap Extinguishment Of Debt Gain Loss Net Of Tax
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CY2024Q2 us-gaap Net Income Loss Attributable To Parent Diluted
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us-gaap Net Income Loss Attributable To Parent Diluted
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CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2024Q2 us-gaap Earnings Per Share Diluted
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CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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CY2024Q2 us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
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us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
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CY2023Q2 us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
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us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
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us-gaap Interest Paid Net
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us-gaap Interest Paid Net
InterestPaidNet
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us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
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us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
23101000 usd
us-gaap Increase Decrease In Construction Payables
IncreaseDecreaseInConstructionPayables
-2211000 usd
us-gaap Increase Decrease In Construction Payables
IncreaseDecreaseInConstructionPayables
-1600000 usd
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
3737000 usd
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
0 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
7304000 usd
us-gaap Share Repurchase Program Excise Tax
ShareRepurchaseProgramExciseTax
1794000 usd
us-gaap Share Repurchase Program Excise Tax
ShareRepurchaseProgramExciseTax
0 usd
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

Files In Submission

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0001801368-24-000066-index-headers.html Edgar Link pending
0001801368-24-000066-index.html Edgar Link pending
0001801368-24-000066.txt Edgar Link pending
0001801368-24-000066-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
mp-20240630.htm Edgar Link pending
mp-20240630.xsd Edgar Link pending
mp-20240630_g1.jpg Edgar Link pending
mpmcexhibit31163024.htm Edgar Link pending
mpmcexhibit31263024.htm Edgar Link pending
mpmcexhibit32163024.htm Edgar Link pending
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mp-20240630_cal.xml Edgar Link unprocessable
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