MP Materials Corp. (MP) Revenue History
Annual and quarterly revenue from 2018 to 2025
Compound Annual Growth Rate (CAGR)
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MP Revenue Growth
Revenue Breakdown (FY 2024)
MP's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
MP Revenue Analysis (2018–2025)
As of May 8, 2026, MP Materials Corp. (MP) generated trailing twelve-month (TTM) revenue of $305.3 million, reflecting explosive growth of +49.1% year-over-year. The most recent quarter (Q1 2026) recorded $90.6 million in revenue, down 12.6% sequentially.
Looking at the longer-term picture, MP's 5-year compound annual growth rate (CAGR) stands at +15.4%, indicating consistent double-digit revenue growth. The company achieved its highest annual revenue of $527.5 million in 2022.
Revenue diversification analysis shows MP's business is primarily driven by Materials Segment (100%). With over half of revenue concentrated in Materials Segment, the company maintains significant focus in this area while developing other growth vectors.
When compared to Basic Materials sector peers including UUUU (+22.0% YoY), URG (-19.3% YoY), and ALB (+7.9% YoY), MP has outperformed the peer group in terms of revenue growth. Compare MP vs UUUU →
MP Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| MPCurrent | $305M | +49.1% | +15.4% | -44.6% | |
 UUUU | $66M | +22.0% | +108.9% | -153.4% | |
 URG | $27M | -19.3% | +26.8% | -255.0% | |
 ALB | $5.1B | +7.9% | +10.4% | 1.8% |
MP Historical Revenue Data (2018–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $275.5M | +35.1% | $-6,599,000 | -2.4% | $-122,773,000 | -44.6% |
| 2024 | $203.9M | -19.6% | $-66,788,000 | -32.8% | $-169,426,000 | -83.1% |
| 2023 | $253.4M | -52.0% | $105.0M | 41.4% | $-17,719,000 | -7.0% |
| 2022 | $527.5M | +58.9% | $416.9M | 79.0% | $327.4M | 62.1% |
| 2021 | $332.0M | +147.2% | $231.3M | 69.7% | $165.3M | 49.8% |
| 2020 | $134.3M | +83.0% | $63.6M | 47.3% | $-34,703,000 | -25.8% |
| 2019 | $73.4M | +8.9% | $5.6M | 7.6% | $-7,620,000 | -10.4% |
| 2018 | $67.4M | - | $10.1M | 15.0% | $-8,884,000 | -13.2% |
Full MP Stock Analysis
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Start ComparisonMP — Frequently Asked Questions
Quick answers to the most common questions about buying MP stock.
Is MP's revenue growth accelerating or slowing?
MP revenue is accelerating at +49.1% year-over-year, exceeding the 5-year CAGR of +15.4%. TTM revenue reached $305M. Growth momentum has increased versus prior periods.
What is MP's long-term revenue growth rate?
MP Materials Corp.'s 5-year revenue CAGR of +15.4% reflects the sustained expansion pattern. Current YoY growth of +49.1% is above this long-term average.
How is MP's revenue distributed by segment?
MP reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2018-2025 are available for download. Segment mix reveals concentration and diversification trends.