MP Materials Delivers Record 2,599 Metric Tons Of Mp Stock

MP Materials’ mp stock story turned on a record 2,599 metric tons of neodymium-praseodymium oxide in 2025, a 101% increase from the prior year. The output gives the only operating large-scale rare-earth mine in the United States a larger base for the magnet materials customers and policymakers are trying to secure.

Revenue rose to $224 million in 2025, up 10% from the prior year, while net income widened to an $85.8 million loss from $65.4 million in 2024. The company also posted earnings per share of $0.05 in the fourth quarter, versus a loss of $0.14 a year earlier, showing that the ramp in output has not yet translated into annual profitability.

Fort Worth Magnet Output

MP Materials produced its first neodymium-iron-boron magnets on commercial equipment at its Independence facility in Fort Worth, Texas, in the fourth quarter. That step moves the company further from mining alone and into manufacturing, with the Fort Worth line tied to the broader push to make finished magnet supply inside the U.S. rather than ship only raw materials.

In July 2025, MP Materials announced a $500 million long-term agreement with Apple, and Apple made a $200 million prepayment to help fund the expansion of the Fort Worth facility. The agreement centers on processing recycled rare-earth magnets from end-of-life Apple products at MP Materials’ Mountain Pass facility, while the Fort Worth expansion is intended to build magnet manufacturing lines for Apple devices.

Pentagon Stake And Floor Price

The Department of Defense invested $400 million in convertible preferred stock in 2025 and became MP Materials’ largest shareholder with a 15% stake. The Pentagon also established a $110 per kilogram floor price for NdPr oxide and said it would ensure 100% of the output from MP Materials’ upcoming 10X project, giving the company a protected pricing floor as it tries to expand supply.

50,692 metric tons of rare-earth oxides in concentrate rounded out the year, up 12% from the prior period, showing that the output increase was not limited to NdPr alone. If MP Materials can keep lifting volumes while it builds magnet production, the next test is whether those higher run rates can narrow the gap between revenue growth and the still-wide loss on the income statement.