0001801368-26-000056
SEC filingMP Materials第三季度营收同比增176%至1.477亿美元，NdPr销量翻倍并完成GM磁体认证，磁体收入将于Q4启动。
| 指标 | 本期 | 去年同期 | 同比 |
|---|---|---|---|
| Revenue | $147,655 thousand | $53,553 thousand | 176% |
| Price protection agreement income | $8,109 thousand | $— | N/M |
| Net loss | $(20,710) thousand | $(41,780) thousand | 50% |
| Adjusted EBITDA (Non-GAAP) | $41,138 thousand | $(12,570) thousand | N/M |
| Adjusted Net Income (Loss) (Non-GAAP) | $8,768 thousand | $(17,835) thousand | N/M |
| Diluted loss per common share | $(0.12) | $(0.24) | 50% |
| Adjusted Diluted EPS (Non-GAAP) | $0.04 | $(0.10) | N/M |
| 分部 | 本期收入 | 去年同期 | 同比 | 本期Segment Adjusted EBITDA | 去年同期 |
|---|---|---|---|---|---|
| Materials Segment | $133,539 thousand | $31,641 thousand | 322% | $47,828 thousand | $(14,522) thousand |
| Magnetics Segment | $18,623 thousand | $21,912 thousand | (15)% | $5,348 thousand | $9,481 thousand |
本季增长核心来自Materials分部：NdPr oxide and metal收入$100,961 thousand（同比+227%），叠加NdPr销量1,020 MT（同比+94%）与更强市场价格；Other revenue升至$32,578 thousand，其中含向美国航空航天与国防客户出售SEG+的$31.6 million。Materials Segment Adjusted EBITDA转正至$47,828 thousand，并计入$8,109 thousand PPA Income。Magnetics分部收入同比降15%、Segment Adjusted EBITDA降44%，主因Independence磁体产线投产导致magnetic precursor products收入略降，同时start-up costs升至$14,152 thousand。合并层面Adjusted EBITDA改善$53.7 million，但被NdPr销量大增带来的cost of sales上升、$6.4 million非核心产品存货减值及SG&A（headcount增加）部分抵消；Net loss收窄至$(20,710) thousand，还受益于Advanced projects and development费用下降（去年同期含DoW交易相关成本），部分被磁体爬坡start-up成本、股权激励及2030 Notes衍生工具公允价值变动抵消。
资产负债表方面，截至2026-09-30现金及现金等价物$260,336 thousand、短期投资$1,077,575 thousand，合计$1,337,911 thousand，较2025-12-31的$1,830,286 thousand下降，主因前九个月资本开支$420,250 thousand及经营现金净流出$7,757 thousand。管理层强调完成GM磁体认证、Q4起开始可销售交付并确认收入，称之为业务的inflection point；本新闻稿未披露前瞻指引，亦未宣布分红或回购安排，投资者需关注磁体放量节奏、start-up成本与政府/客户合同执行风险。