MP
MP Materials Corp.
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Last report
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13F top-10 QoQ
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MP Materials has 3 disclosed suppliers and 10 disclosed customers in SEC filings.
Last reportshaded = implied▲▼ = realized× = |realized| ÷ implied
MP Materials Corp.
39.49
SentenceFor the year ended December 31, 2025, Customers A and B in the Materials segment accounted for 30 % and 23 % of the Company's total revenue, respectively; Customer C, primarily in the Magnetics segment, accounted for 31 % of the Company's total revenue.
basisMP FY2025 revenue $193M
MP 10-Kaccession 0001801368-26-000008
SentenceFor the year ended December 31, 2025, Customers A and B in the Materials segment accounted for 30 % and 23 % of the Company's total revenue, respectively; Customer C, primarily in the Magnetics segment, accounted for 31 % of the Company's total revenue.
basisMP FY2025 revenue $193M
MP 10-Kaccession 0001801368-26-000008
SentenceThe Company purchases certain reagent products (generally produced by an unrelated third-party manufacturer) used in the flotation process, as well as other materials from Shenghe in the ordinary course of business.
MP 10-Kaccession 0001801368-26-000008
SentenceAs of December 31, 2025, SRK Consulting (U.S.), Inc., an independent consulting firm that we retained to assess our reserves, estimated total proven and probable reserves of 1.96 million short tons of REO contained in 28.96 million short tons of ore at Mountain Pass, with an average ore grade of 5.89%.
MP 10-Kaccession 0001801368-26-000008
SentenceAs discussed in Note 19 , "Related-Party Transactions," in October 2023, the Company entered into the Tolling Agreement (as defined in Note 19 , "Related-Party Transactions" ) with VREX Holdco whereby VREX Holdco would cause VREX to process the Company's NdPr oxide into NdPr metal for delivery to the Company's customers globally.
MP 10-Kaccession 0001801368-25-000009
SentenceEntered into a long-term supply agreement with Apple Inc. (NASDAQ: AAPL) ("Apple"), for magnet production at Independence and the development and installation of scaled recycling capabilities at Mountain Pass, whereby Apple agreed to make prepayments in the aggregate amount of $200.0 million for the purchase of magnets;
SentenceIn February 2022, the Company was awarded a $35.0 million contract by the Department of Defense's Office of Industrial Base Policy, Industrial Base Analysis and Sustainment program, to design and build a facility to process HREE.
MP 10-Kaccession 0001801368-25-000009
SentenceHistorically, through our Materials segment, we sold the vast majority of our rare earth concentrate to a single, principal customer in China under the terms of the Shenghe Offtake Agreement (as defined in Note 21 , "Related-Party Transactions," in the notes to the Consolidated Financial Statements).
MP 10-Kaccession 0001801368-26-000008
SentenceCurrently, the Company sells the vast majority of its rare earth concentrate to Shenghe Resources (Singapore) International Trading Pte. Ltd. ("Shenghe") under the terms of the 2024 Offtake Agreement, which became effective in January 2024 and replaced and extended the 2022 Offtake Agreement (as such terms are defined in Note 19 , "Related-Party Transactions," in the notes to the Consolidated Financial Statements).
MP 10-Kaccession 0001801368-25-000009
SentenceNdPr oxide and metal revenue consists of sales of NdPr oxide and metal produced at Mountain Pass under individual sales agreements, as well as sales under our distribution agreement with Sumitomo Corporation of Americas.
MP 10-Kaccession 0001801368-25-000009
SentenceWe entered into a magnet offtake agreement with the DoW (the "DoW Offtake Agreement"), pursuant to which we will sell to the DoW the entire amount of magnets produced at the 10X Facility; provided, however, that at the DoW's request, or at our request and with the DoW's consent, we may sell up to 100% of magnet production to other third party customers.
MP 10-Kaccession 0001801368-26-000008
SentenceAdditionally, as outlined in the DoW Offtake Agreement, the DoW has guaranteed that the 10X Facility will generate at least $140 million of EBITDA (as defined in the DoW Offtake Agreement, and subject to annual escalation) and has the right to purchase all of the magnets produced at the 10X Facility (which may instead be commercially syndicated).
MP 10-Kaccession 0001801368-26-000008
Expected move
Inputsstraddle ±7.5%
spot 39.57exp Nov 6ATM strike 39.5ATM straddle 3.50IV 80%