Latest news with #USAR
Yahoo
17-05-2025
- Climate
- Yahoo
Four fatalities confirmed from Friday's St. Louis storms
ST. LOUIS – At least four fatalities have been confirmed from Friday's St. Louis storms, according to St. Louis Mayor Cara Spencer. Intense hail, heavy winds and rained rolled through the St. Louis region on Friday. Radars also indicated the possibility of one tornado that rolled through St. Louis and Clayton city limits. 'Th Mayor Spencer announced the fatalities during a news conference Friday around 5:30 p.m. CT. Details on the fatalities, including the locations, are limited at this time. Spencer says St. Louis Emergency Management Agency teams are actively responding and evaluating damage. Some cleanup efforts may begin early Friday evening. The mayor is encouraging people to stay off roadways, if possible, on Friday as crews work to evaluate damage. EMA previously asked people to avoid the area of Kingshighway between I-70 and I-64. Mike Weaver, Chief of Staff for St. Louis City Rep. 5th District Steven Roberts, says the following state responses have occurred or are in effect after the storms…. 1) The Governor has communicated with Mayor Spencer via phone. 2) SEMA actively engaged and sending additional resources. 3) SEMA in direct comms with Sarah Russell and Michelle Ryan (City and County EMDs)4) SEMA is sending regional coordinators from other parts of the state to help assist in assessments5) Urban Search and Rescue Teams are in route and will be staging in Brentwood. Two USAR strike teams deployed to St. Louis County. Two USAR Strike Teams assigned to St. Louis City. 6) SEMA has asked Missouri Taskforce 1 to roster a team. I will keep you in the loop on anything additional. This is a developing story. Check back for updates. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
14-05-2025
- Business
- Yahoo
USA Rare Earth Reports its First Quarter 2025 Financial Results
STILLWATER, Okla., May 14, 2025 (GLOBE NEWSWIRE) -- USA Rare Earth, Inc. (Nasdaq: USAR) ('USAR' or the 'Company') today announced its financial results for the first quarter ended March 31, 2025. First Quarter Highlights Merged with Inflection Point and began trading on Nasdaq on March 14 Commissioned our Innovations Lab at our Stillwater, Oklahoma magnet facility, a critical milestone for the company which officially launched our sales and qualification work with potential customers Hired multiple key employees in engineering, production, finance, and operations Signed our first customer MOU for rare earth sintered magnet production in 2026 Produced dysprosium oxide from the Round Top deposit with a purity of over 99% 'USA Rare Earth is ramping up quickly in 2025 to begin delivering finished magnets to our customers,' said Joshua Ballard, CEO. 'We have raised over $100 million since the start of the year in support of the business. In Stillwater, Oklahoma, we opened our Innovations Lab, started prototyping magnets, and are moving quickly to commission the first line of our 310,000-square-foot magnet facility. We are also meaningfully advancing our processing technologies in Colorado to unlock the value we hold at Round Top Mountain in Texas.' Mr. Ballard added: 'We are experiencing a 'Manhattan Project' moment in America. As a country, we must invest in and rebuild our rare earth supply chain as unprecedented geopolitics have highlighted the structural need to protect our domestic defense, industrial and technology industries. We are seeing robust interest from domestic manufacturers eager to use magnets that are made here in the USA. Our growth in 2026 will reflect this growing demand. Our mission has prepared us for this moment, and we are determined to deliver for the American people.' Forward-looking Statements Certain matters discussed in this press release and on the conference call (see information below) are or contain 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties. These statements include statements relating to the Company's expectations for future development, operations, business strategies and financial performance. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. Words such as 'anticipate', 'believe', 'can', 'continue', 'could', 'estimate', 'expect', 'forecast', 'intend', 'may', 'might', 'plan', 'possible', 'potential', 'predict', 'project', 'seek', 'should', 'strive', 'target', 'will', 'would' and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from our expectations. These risks and uncertainties include, but are not limited to: risks related to the development of our magnet production facility and the timing of expected production milestones; competition in the magnet manufacturing industry; our ability to grow and manage growth profitably; our ability to build or maintain relationships with customers and suppliers; our ability to retain management and key employees; the supply and demand for rare earth minerals; the timing and amount of future production; costs of production, capital expenditures and requirements for additional capital, including the need to raise additional capital to implement our strategic plan; the substantial doubt regarding our ability to continue as a going concern for the twelve months following the issuance of our first quarter 2025 condensed consolidated financial statements; the timing of future cash flow provided by operating activities, if any; uncertainty in any mineral estimates, uncertainty in any geological, metallurgical, and geotechnical studies and opinions; and transportation risks. Detailed information regarding factors that may cause actual results to differ materially has been and will be included in the Company's periodic filings with the SEC, including the Company's Form 10-K that the Company filed with the SEC on March 31, 2025 and the Company's latest Quarterly Report on Form 10-Q. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors. Any forward-looking statements speak only as of their date, and we undertake no obligation to update any forward-looking statements to reflect events or circumstances occurring after their date or to reflect the occurrence of unanticipated events. Use of Non-GAAP Financial Measures This press release includes certain non-GAAP financial measures, including adjusted net loss attributable to common shareholders (defined as 'adjusted net loss'), adjusted undistributed net loss to common shareholders (defined as 'adjusted undistributed net loss'), and adjusted undistributed net loss per common share (defined as 'adjusted net loss per common share'). Generally, a non-GAAP financial measure is a numerical measure of a company's performance, financial position, or cash flows that either exclude or include amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles in the United States of America, or GAAP. These non-GAAP financial measures do not reflect a comprehensive system of accounting, differ from GAAP measures with the same captions, and may differ from non-GAAP financial measures with the same or similar captions that are used by other companies. As such, these non-GAAP measures should be considered as a supplement to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. We believe these non-GAAP measures of financial results provide useful supplemental information to management and investors regarding certain financial and business trends related to our financial condition and results of operations, and as a supplemental tool for investors to use in evaluating our ongoing operating results and trends and in comparing our financial measures with other companies that present similar non-GAAP financial measures. We use these non-GAAP financial measures to analyze our operating performance and future prospects, develop internal budgets and financial goals, and to facilitate period-to-period comparisons. We believe these non-GAAP financial measures reflect an additional way of viewing aspects of its operations that, when viewed with our GAAP results, provide a more complete understanding of factors and trends affecting its business. Current and prospective investors should review our audited annual and unaudited interim financial statements, which are filed with the U.S. Securities and Exchange Commission, and not rely on any single financial measure to evaluate our business. Notes to the Financial Results Adjusted net loss is a non-GAAP financial measure that the Company defines as net income (loss) attributable to common shareholders which excludes gain on fair market value of financial instruments. Adjusted undistributed net loss is a non-GAAP financial measure that the Company defines as net income (loss) attributed to common shareholders which excludes gain on fair market value of financial instruments, declared and undeclared dividends, and accretions. Adjusted net loss per common share is a non-GAAP financial measure that the Company defines as net income (loss) attributed to common shareholders which excludes gain on fair market value of financial instruments, declared and undeclared dividends, and accretions, divided by basic shares outstanding. Conference Call to Discuss Financial Results The Company will hold a conference call on Wednesday, May 14, 2025, 4:00 PM CT / 5:00 PM ET to discuss its first quarter 2025 results. Please see below for dial-in information. LIVE CONFERENCE Q&A CALL: Wednesday, May 14, 2025, 4:00 PM CT / 5:00 PM ET US / Canada Toll-Free: +1 (866) 652-5200 Local / International Toll: +1 (412) 317-6060 CONFERENCE Q&A CALL REPLAY: Available approximately three hours after conclusion of the live call. Expiration: June 14, 2025 US Toll-Free: +1 (877) 344-7529 Canada Toll-Free: +1 (877) 344-7529 Local / International Toll: +1 (412) 317-0088 Access code: 2627439 Investors may also access the live call and the replay over the internet on the 'Events' page of the Company's website located at Disclosure Information USA Rare Earth uses the investor relations section on its website as means of complying with its disclosure obligations under Regulation FD. Accordingly, investors should monitor USA Rare Earth's investor relations website in addition to following USA Rare Earth's press releases, SEC filings, and public conference calls and webcasts. About USA Rare Earth USA Rare Earth (Nasdaq: USAR) is developing a NdFeB magnet manufacturing plant in Stillwater, Oklahoma, and intends to establish domestic rare earth and critical minerals supply, extraction, and processing capabilities to both supply its magnet manufacturing plant and market surplus materials to third parties. Rare earth magnets are critical to various business sectors and industries, including the defense, automotive, aviation, industrial, AI Robotics, medical, and consumer electronics industries, among others. USAR is planning to take a broad approach to the industries it serves with the intention of providing high quality NdFeB magnets to a variety of industries and customers. USAR's focus on developing domestic rare earth production aligns with national priorities, offering the potential of a sustainable and secure domestic supply of materials critical to key industries. Contact Investor Relations ir@ USA Rare Earth, Inc. Condensed Consolidated Balance Sheets (in thousands) As of March 31, December 31, 2025 2024 (unaudited) ASSETS Current assets: Cash and cash equivalents $ 23,351 $ 16,761 Deferred offering costs - 5,134 Prepaid expenses and other current assets 2,428 378 Total current assets 25,779 22,273 Non-current assets: Property, plant and equipment, net 30,122 26,529 Mineral interests, at cost 17,125 17,125 Equipment deposits 3,572 3,060 Other non-current assets 477 82 Total non-current assets 51,296 46,796 Total assets $ 77,075 $ 69,069 LIABILITIES, MEZZANINE AND STOCKHOLDERS' (DEFICIT) EQUITY Liabilities Accounts payable $ 3,113 $ 1,823 Accrued liabilities 3,831 3,071 Deferred grants 8,200 8,200 Earnout liability 46,232 - Warrant liability 34,475 - Finance and operating lease liabilities 1,470 23 Other liabilities 13 2,008 Total liabilities 97,334 15,125 Mezzanine equity 32,397 19,923 Stockholders' (deficit) equity (52,656 ) 34,021 Total liabilities, mezzanine and stockholders' (deficit) equity $ 77,075 $ 69,069 USA Rare Earth, Inc. Condensed Consolidated Statements of Operations (in thousands, except per share data) (Unaudited) For the Three Months Ended March 31, 2025 2024 Operating costs and expenses Selling, general and administrative $ 7,029 $ 2,647 Research and development 1,689 2,051 Total operating costs and expenses 8,718 4,698 Operating loss (8,718 ) (4,698 ) Other income Gain on fair market value of financial instruments 60,300 1 Interest, net, dividend income and other expense 100 25 Total other income 60,400 26 Net income (loss) 51,682 (4,672 ) Net loss attributable to non-controlling interest (150 ) (200 ) Net income (loss) attributable to common stockholders $ 51,832 $ (4,472 ) Net income (loss) per common share - basic $ 0.75 $ (0.11 ) Net income (loss) per common share - diluted $ 0.58 $ (0.11 ) USA Rare Earth, Inc. Condensed Consolidated Statements of Cash Flows (in thousands) (Unaudited) For the Three Months Ended March 31, 2025 2024 Cash Flows From Operating Activities: Net income (loss) $ 51,682 $ (4,672 ) Adjustments to reconcile net income (loss) to net cash (used in) provided from operating activities (58,869 ) 599 Changes in assets and liabilities (3,142 ) (160 ) Net cash used in operating activities (10,329 ) (4,233 ) Cash Flows From Investing Activities: Purchase of property, plant and equipment (2,011 ) (39 ) Equipment deposits (1,039 ) (980 ) Cash used in investing activities (3,050 ) (1,019 ) Cash Flows From Financing Activities: Proceeds from issuance of preferred stock and warrants 23,250 - IPXX contribution of capital through merger 22,867 - Prepayment of forward purchase agreements (20,789 ) - Proceeds from early termination of forward purchase agreements 3,322 - Issuance costs (8,681 ) (405 ) Net cash provided by (used in) financing activities 19,969 (405 ) Net increase (decrease) in cash 6,590 (5,657 ) Cash and cash equivalents, beginning of year 16,761 13,199 Cash and cash equivalents, end of period $ 23,351 $ 7,542 USA Rare Earth, Inc. Reconciliation of Non-GAAP Financial Measures(1) (in thousands) (Unaudited) This press release includes certain non-GAAP financial information because we plan and manage our business using such information. The following table reconciles the GAAP financial information to the non-GAAP financial information. For the Three Months Ended March 31, 2025 2024 Net income (loss) attributable to common stockholders $ 51,832 $ (4,472 ) Gain on fair market value of financial instruments (60,300 ) (1 ) Adjusted net loss(2) (8,468 ) (4,473 ) Declared and undeclared dividends, and accretions (3,562 ) (1,792 ) Adjusted undistributed net loss(2) $ (12,030 ) $ (6,265 ) Adjusted net loss per common share - basic and diluted(2) $ (0.19 ) $ (0.11 ) Amounts may not total due to rounding. Refer to the section 'Use of Non-GAAP Financial Measures' for description of items included in adjustments.
Yahoo
05-03-2025
- General
- Yahoo
'Truly Cinematic' Moment Lost Dog is Found by Veteran Drone Team in Just 41 Minutes
A dog lost in Cherry Hill, New Jersey, was located in just 41 minutes on the evening of February 21 after the USAR Drone Team, a veteran-focused non-profit, came to the rescue through their use of advanced thermal imagery. The dog, Shade, had been missing for 27 hours and 'spent an entire, freezing night out on his own' after 'wiggling' free of his harness and running off, according to owner Gina Manfredi. With time ticking on, Manfredi decided she needed help to search the area from the sky, and called on the Jersey Shore-based USAR Drone Team. The crew of specialist drone pilots help people search for missing pets, and are aiming to expand their services through GoFundMe donations to help cover the cost of searches. USAR's drone crew joined the search for Shade after night had fallen over Cherry Hill, but by using specialized thermal imagery that allowed them to see Shade's body as a white glow amid all the dark, the team was able to spot the lost dog, and direct Manfredi's brother towards Shade's location, all in under 41 minutes - a new record for the squad. Manfredi can be heard erupting with emotion as she realizes her beloved Shade was back in safe hands, crying 'thank you so much!' to the team of rescuers. 'When I spoke with Michael Parziale from USAR Drone Team Group, I immediately felt a sense of relief. His warm, caring voice gave me hope, and I knew right away that we were in good hands,' Manfredi said in a post on Facebook. 'The moment of reunion - captured on camera with my brother and Shade - was truly cinematic,' she said. Credit: USAR Drone Team via Storyful Hi, hold on. OK, I got, I got a runner here. Yeah, it's definitely a dog. Guys, come here, come here, come here, come here. Come here. Oh, it is a dog or is it a cat? No, it's not a it's hold on, hold on. What did I see? There it is, there it is inside of the house. Oh there it is, there it is. Oh, there it is. He lives over there right next to that woods like went into the woods and so there it is. Is that the, that right there? That's what he said. There it is. Do you know where it is, I will tell you. I know right, I, I wanna keep track of it. Hold on. Yeah, it's not just someone's dog in the backyard though, right? I, I have no idea. I doubt it. OK. I want to let stop for a second so I get the spotlight on and we go and it's under the trees. Hold on. Oh there he is. All right, here. OK. It's on Greenville Road. Someone head over there now. Road. Alright, I'm going with you. Do you wanna go my car? OK. Do you want me to, do you want me to call, let me get some. Hold on. So, I need someone to look at the dog. You need someone to what? I bought the dog if it's, if it's the dog. There it is, there it is. Where? Hold on. Yeah, is that him? It looks it looks like his size. Doesn't it look like size looks like it's coloring. Wait, that's him. That's him. Oh my God, that's him. I gotta keep track of it. I gotta keep track of it. Right. Oh my God, that's definitely him. Oh my God, I just lost it. Hold on. The ring the light, the porch light went off and it took off. I know he's he's he's very skittish, terrified dog. probably has no idea what's going on. There it is. There it is. Where? Right there. I see him. OK, where is this? It's going behind this person's house. I'm gonna give you the pinpoint area is right there. It's. I, I, I can, but just give me one second. Take your time. I do not want to lose it. That's why. That's definitely him. That's definitely him. I know. I, I just wanted to stop for a second. Well, go to Greenville Road. Is there somebody there now? Tell him to stop. He's in front of the house. Tell him to stop. That's the house. That's the house. Stop. All right, right there, to the house behind you to the right, the house behind you to the right. Tell, listen, it's, it's it's what's his name? Michael, right, Michael. All right, come on out. It's in between the how where are you? I'm parking right on the side of that thing here. Hold on. All right, I'm parking my car. Hold on. I a. God damn it, fuck. Hold on. No fancy. There it is. All right, I'm parking. Hold on. Oh wait, are they see him. They see him over there. Yeah, hold on. I don't, I don't stop crying. Is that me? Oh. OK, don't make a lot of noise. I listen, all right, listen, I can't, I'm trying to, OK, it's coming to you. Just talk softly. Just talk softly, very slow and soft, like almost whispering. It's coming. It's going to the opposite side of the house. Go and cut it off on the other side. No, no, no, the other, the other side, the other way. Nice and easy, nice and easy. It's scared to death. OK, so this way, right? It's by, it's now. It's behind the house. Oh, it's to the other house behind the car now. It's coming out. Talk softly, softly, walk slowly. She just. It's coming to you. Hey Shane, it's. There you go. There you go. Oh my God. Oh God. Oh my God. Oh my God
