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MEASUREMENT STARTING POINTS

Company Baselines

Sourced facts needed to measure a catalyst from a declared starting point. These records are not earnings summaries, forecasts, impact findings or grades.

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Relevant · every fact connects to a defined measurement question.

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PUBLISHED BASELINES

Measurement records

8 public records
8 available

Technology · Hardware · MP · baseline Oct 14, 2026

MP Materials Corp.

MP Materials: Can Independence Turn GM Magnet Qualification Into Recurring Finished-Magnet Sales and Durable Segment Economics?
Tracked

Prospective October 14 evidence baseline: GM qualification in progress, Q4 commercial delivery target, $45.5M precursor obligation remaining. Four-star potential significance. No initial outcome or Depth grade; persistence period count and terminal horizon remain pending author decision.

Read this thesis ↗

Measurement baseline for MP Materials Corp.
MeasurementStarting factWhy it mattersEvidence
GM precursor prepayments collected$150.0M USDthrough June 30, 2026 · Company-reported precursor prepaymentPrecursor, not finished-magnet revenue.Source ↗
GM precursor products sold$104.5M USDthrough June 30, 2026 · Company-reported precursor deliveriesPrecursor, not commercial finished-magnet delivery.Source ↗
Remaining GM precursor obligation$45.5M USDJune 30, 2026 · Company-reported remaining obligationFinite precursor runoff, not finished-magnet sales.Source ↗
Magnetics revenue$16.5M USDQ2 2026 · Company-reported segment revenueSegment total without finished-magnet attribution.Source ↗
Magnetics adjusted EBITDA$7.5M USDQ2 2026 · Company-defined non-GAAP segment measureExcludes stated costs; not finished-magnet profit.Source ↗
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