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New York, New York--(Newsfile Corp. - May 10, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of ODDITY Tech Ltd. (NASDAQ: ODD) between February 26, 2025 and February 24, 2026, inclusive (the "Class Period"), of the important May 11, 2026 lead plaintiff deadline.

SO WHAT: If you purchased Oddity securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Oddity class action, go to https://rosenlegal.com/submit-form/?case_id=27381 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 11, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved, at that time, the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) due to an algorithm change by Oddity's largest advertising partner, Oddity's advertisements were being diverted to lower quality auctions at abnormally high costs; (2) the foregoing significantly increased Oddity's customer acquisition costs, thereby negatively impacting Oddity's business and financial prospects; (3) accordingly, defendants overstated the overall strength, stability, and sustainability of Oddity's digital operating model and/or market position; and (4) as a result, defendants' public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Oddity class action, go to https://rosenlegal.com/submit-form/?case_id=27381 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/296711

Source: The Rosen Law Firm PA

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NEW YORK, May 10, 2026 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of ODDITY Tech Ltd. (NASDAQ: ODD) between February 26, 2025 and February 24, 2026, inclusive (the “Class Period”), of the important May 11, 2026 lead plaintiff deadline.

SO WHAT: If you purchased Oddity securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Oddity class action, go to https://rosenlegal.com/submit-form/?case_id=27381 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 11, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved, at that time, the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) due to an algorithm change by Oddity’s largest advertising partner, Oddity’s advertisements were being diverted to lower quality auctions at abnormally high costs; (2) the foregoing significantly increased Oddity’s customer acquisition costs, thereby negatively impacting Oddity’s business and financial prospects; (3) accordingly, defendants overstated the overall strength, stability, and sustainability of Oddity’s digital operating model and/or market position; and (4) as a result, defendants’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Oddity class action, go to https://rosenlegal.com/submit-form/?case_id=27381 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

Contact Information:

        Laurence Rosen, Esq.
        Phillip Kim, Esq.
        The Rosen Law Firm, P.A.
        275 Madison Avenue, 40th Floor
        New York, NY 10016
        Tel: (212) 686-1060
        Toll Free: (866) 767-3653
        Fax: (212) 202-3827
        [email protected]
        www.rosenlegal.com

LOS ANGELES, May 11, 2026 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Oddity Tech Ltd. (“Oddity” or “the Company”) (NASDAQ: ODD) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company’s securities between February 26, 2025 and February 24, 2026, inclusive (the “Class Period”), are encouraged to contact the firm before May 11, 2026.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. Oddity’s advertisements were diverted to poor quality auctions at high costs due to an algorithm change by one of its largest ad partners. The Company’s customer acquisition costs increased significantly due to this change, harming its business. The Company overstates the strength of its operating model. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Oddity, investors suffered damages.

Join the case to recover your losses.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.        

CONTACT:

The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
[email protected]

SOURCE:

 The Schall Law Firm

New York, New York--(Newsfile Corp. - May 11, 2026) - Bronstein, Gewirtz & Grossman, LLC, a nationally recognized investor-rights law firm, announces that a class action lawsuit has been filed against ODDITY Tech Ltd. (NASDAQ: ODD) and certain of its officers.

This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Oddity securities between February 26, 2025 and February 24, 2026, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: bgandg.com/ODD.

Oddity Case Details

The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements and/or failed to disclose material adverse facts concerning the Company's business, operations, and prospects. Specifically, the Complaint alleges that Defendants failed to disclose that:

following an algorithm change by the Company's largest advertising partner, the Company's advertisements were diverted to lower-quality auctions at abnormally high costs; as a result, the Company's customer acquisition costs increased significantly, negatively impacting its business and financial prospects; Defendants therefore overstated the strength, stability, and sustainability of the Company's digital operating model and market position; and as a result of the foregoing, Defendants' public statements were materially false and misleading at all relevant times.What's Next for Oddity Investors?

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm's site: bgandg.com/ODD, or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 917-590-0911. If you suffered a loss in Oddity you have until May 11, 2026, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff.

No Cost to Oddity Investors

We, Bronstein, Gewirtz & Grossman LLC, represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.

Why Bronstein, Gewirtz & Grossman, LLC for Oddity Securities Class Action?

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide. More at www.bgandg.com

"Our practice centers on restoring investor capital and ensuring corporate accountability, which serves to uphold the essential integrity of the marketplace," said Peretz Bronstein, Founding Partner of Bronstein, Gewirtz & Grossman, LLC.

Follow us for updates on LinkedIn, X, Facebook, or Instagram.

Attorney advertising.
Prior results do not guarantee similar outcomes.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/295576

Source: Bronstein, Gewirtz & Grossman, LLC

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SAN FRANCISCO, May 11, 2026 /PRNewswire/ -- Hagens Berman, a global shareholder rights law firm, updates investors in ODDITY Tech Ltd. (NASDAQ: ODD) regarding the pending securities class action lawsuit following a massive 49% stock collapse.

May 15, 2026 09:00 ET  | Source: Oddity Tech Ltd.

NEW YORK, May 15, 2026 (GLOBE NEWSWIRE) -- ODDITY Tech Ltd. (“ODDITY”) (NASDAQ: ODD), today announced that it will release its first quarter 2026 financial results before the market open on Tuesday, June 2, 2026, to be followed by a conference call at 8:30 a.m. Eastern Time.

Conference Call Details:

To participate in the conference call, please dial 1-877-407-9208 (US) or 1-201-493-6784 (international). To access the call, please reference the company name and call title: ODDITY First Quarter 2026 Earnings Call. A webcast of the call will be accessible on the Investors section of ODDITY’s website at https://investors.oddity.com. A recording will be available shortly after the conclusion of the call. To access the replay, please dial 1-844-512-2921 (US) or 1-412-317-6671 (international). The access code for the replay is 13760709. An archive of the webcast will be available on the Investors section of ODDITY’s website for seven days following the call.

About ODDITY

ODDITY is a consumer tech company that builds and scales digital-first brands to disrupt the offline-dominated beauty and wellness industries. The company serves approximately 68 million users with its AI-driven online platform, deploying data science to identify consumer needs, and developing solutions in the form of beauty and wellness products. ODDITY owns IL MAKIAGE, SpoiledChild and METHODIQ. The company operates with business headquarters in New York City, an R&D center in Tel Aviv, Israel, and a biotechnology lab in Boston.

Contacts

Press:

[email protected]

Investor:

[email protected]

First quarter net revenue of $197.9 million, down approximately 26% year-over-yearFirst quarter adjusted EBITDA of $(7.0) millionFirst quarter net loss of $(21.4) million and first quarter adjusted net loss of $(9.8) millionStrong liquidity position including cash, cash equivalents and investments of $667.4 million, and aggregate credit facilities of $350 million which remain undrawn NEW YORK, June 02, 2026 (GLOBE NEWSWIRE) -- ODDITY Tech Ltd. (NASDAQ: ODD) today announced its financial results for the first quarter ended March 31, 2026.

“We continue to implement our recovery plan to address the account dislocation with our largest advertising partner and we remain hopeful that we are on track for normalization in the second half of this year,” said Oran Holtzman, ODDITY co-founder and CEO. “For many years, our CPA was very stable, with only gradual increases aligned with our industry. In Q1 2026, we saw a severe step-function discontinuity, comparing to historical first quarters, with CPA in some cases reaching levels 2x higher than what we expected. While we continue to navigate this dislocation, we have been working closely with our advertising partner on remediation and we are encouraged by an improvement in IL MAKIAGE CPA this May, which declined an estimated -28% sequentially from April.”

Media Costs

ODDITY is providing additional data on IL MAKIAGE CPA with our largest advertising partner for H1 2022 through May of H1 2026, as the first half is historically the period in which we acquire the majority of our annual new users. We believe this data supports the view that the CPA dislocation is technical in nature, rather than driven by brand health or market saturation.

Prior to 2026, IL MAKIAGE 1H CPA growth was very stable, with yearly increases correlated with our industry.The increase in 2026 is sudden, indicating a dramatic break rather than steady deterioration over time.The breakdown occurred in different markets simultaneously. US, Canada, UK, Australia, Israel — markets with different longevity and saturation levels.A driver of the break is spiking bounce rates. This shows in our view that the issue is with lower quality audiences being served our ads by the algorithm. IL MAKIAGE CPA Index with Largest Advertising Partner, Internal Attribution System

Half-Year

CPA INDEX

YOY % CHG

H122

1.0

H123

1.2

16

%

H124

1.3

14

%

H125

1.5

15

%

H1 through May 26

2.8

83

%

First Quarter 2026 Summary

ODDITY achieved key objectives during the first quarter, including:

Exceeded our first quarter revenue outlook issued February 25, 2026 of an approximately 30% decline.Positive inflection in IL MAKIAGE CPA’s trend in May, reflecting progress resetting our ad account signals.Remediation work in IL MAKIAGE Try Before You Buy, and a shift of 40% of acquisition revenue out of Try Before You Buy and into Buy.A strong start for our newest brand, METHODIQ, which remains on track to deliver year 1 results in-line with those of SpoiledChild.Ongoing development and expansion of the ODDITY Labs molecule discovery platform.Strong liquidity position including cash, cash equivalents and investments of $667.4 million, and aggregate credit facilities of $350 million which remain undrawn. “We are pleased with the progress we see in our remediation work and with our ability to deliver first quarter revenue above our guidance,” said Lindsay Drucker Mann, ODDITY Global CFO. “The CPA dislocation led to a sharp decline in first orders during the quarter, and the loss of these first orders will negatively impact our repeat business across the year. We therefore expect Q2 net revenue will decline between 25 and 30% year-over-year, and hope to see sequential improvement in the second half of 2026.”

Profitability Drivers

Adjusted EBITDA was materially negatively impacted by higher CPA and ODDITY’s decision to spend on acquisition during the quarter, in an effort to remedy the account dislocation. This led to significantly lower revenue generated on like for like media spend. Reduced media efficiency coupled with continued investment in growth initiatives drove meaningful operating expense deleverage.

Gross margin compression in the period was driven in part by product and brand mix and a low single digit decline in average order value (AOV). ODDITY’s remediation activity during the quarter, which included running various tests to try and isolate the dislocation in its advertising account, negatively impacted Q1 margins.

Share Buyback Program

In March 2026, ODDITY’s Board of Directors approved a share buyback program authorizing the repurchase of up to $200 million of the Company’s Class A ordinary shares. The new authorization expires on March 31, 2029 or upon full deployment of the allocated funds, subject to any future modifications by the Board.

ODDITY repurchased approximately 6.1 million Class A ordinary shares during the first quarter for approximately $82.3 million, reducing Class A ordinary shares outstanding by approximately 10.6%. ODDITY exited the first quarter with approximately $167.3 million remaining under the authorization, subject to market conditions, legal and regulatory constraints.

First Quarter Fiscal 2026 Financial Highlights:

Results for the first quarter ended March 31, 2026 are presented below in comparison to the first quarter ended March 31, 2025.

Net revenue was $197.9 million compared to $268.1 million in the first quarter of 2025, a decrease of 26%.Gross profit was $138.0 million compared to $200.8 million in the first quarter of 2025; gross margin was 69.7% compared to 74.9% in the first quarter of 2025.Net loss was $(21.4) million compared to net income of $37.8 million in the first quarter of 2025.Adjusted net loss was $(9.8) million compared to adjusted net income of $41.8 million in the first quarter of 2025.Adjusted EBITDA was $(7.0) million compared to $52.4 million in the first quarter of 2025.Diluted loss per share was $(0.38) for the first quarter of 2026 compared to diluted earnings per share of $0.63 in the first quarter of 2025.Adjusted diluted loss per share was $(0.17) for the first quarter of 2026 compared to adjusted diluted earnings per share of $0.69 in the first quarter of 2025. Financial Outlook:

For the second quarter of 2026, ODDITY expects net revenue to decline between 25 and 30% year-over-year. ODDITY expects Adjusted EBITDA will be between $8 and $10 million.

For the full year 2026, ODDITY expects Adjusted EBITDA to be positive.

Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net (loss) income, Adjusted net (loss) income margin, Adjusted diluted (loss) earnings per share, and free cash flow are non-GAAP financial measures. Please see the sections titled “Non-GAAP Financial Measures” and “Reconciliations of GAAP to Non-GAAP Measures” below for more information regarding ODDITY’s use of non-GAAP financial measures and reconciliations to the most directly comparable GAAP measures. ODDITY has not provided a quantitative reconciliation of its Adjusted EBITDA outlook to the corresponding net income measure because the quantification of certain items included in the calculation of GAAP net income cannot be calculated or predicted at this time without unreasonable efforts. ODDITY is unable to address the probable significance of the unavailable reconciling items, which could have a potentially unpredictable, and potentially significant, impact on its future GAAP financial results.

The financial outlook figures presented above are forward-looking statements that are subject to a variety of assumptions and estimates. Actual results may differ materially from ODDITY’s financial outlook as a result of, among other things, the factors described under “Forward-Looking Statements” below.

Conference Call Details:

A conference call to discuss ODDITY’s Q1 2026 financial and business results and outlook is scheduled for today, June 2, 2026, at 8:30 a.m. ET. To participate, please dial 1-877-407-9208 (US) or 1-201-493-6784 (international). To access the call, please reference the company name and call title: ODDITY First Quarter 2026 Earnings Call. A webcast of the call will be accessible on the Investors section of ODDITY’s website at https://investors.oddity.com. A recording will be available shortly after the conclusion of the call. To access the replay, please dial 1-844-512-2921 (US) or 1-412-317-6671 (international). The access code for the replay is 13760709. An archive of the webcast will be available on the Investors section of ODDITY’s website for seven days following the call.

Non-GAAP Financial Measures:

In addition to the GAAP financial measures set forth in this press release, ODDITY has included the following non-GAAP financial measures: Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net (loss) income, Adjusted net (loss) income margin, Adjusted diluted (loss) earnings per share and free cash flow. ODDITY believes these non-GAAP financial measures provide useful supplemental information to management and investors to help evaluate ODDITY’s business, measure its performance, identify trends, prepare financial projections and make business decisions.

ODDITY defines “Adjusted EBITDA” as net (loss) income before financial income, net, taxes on income, and depreciation and amortization as further adjusted to exclude share-based compensation expense and non-recurring items. “Adjusted EBITDA margin” is defined as Adjusted EBITDA divided by net revenue. ODDITY believes Adjusted EBITDA and Adjusted EBITDA margin are useful for financial and operational decision-making and as a means to evaluate period-to-period comparisons. By excluding certain items that may not be indicative of its recurring core operating results, ODDITY believes that Adjusted EBITDA and Adjusted EBITDA margin provide meaningful supplemental information regarding its performance. In addition, Adjusted EBITDA and Adjusted EBITDA margin are widely used by investors and securities analysts to measure a company’s operating performance without regard to items such as depreciation and amortization, interest expense, and interest income, which can vary substantially from company to company depending on their financing and capital structures and the method by which their assets were acquired.

ODDITY defines “Adjusted net (loss) income” as net (loss) income adjusted for the impact of share-based compensation, non-recurring items, one-time tax gains/losses and the tax effect of non-GAAP adjustments and “Adjusted net (loss) income margin” as Adjusted net (loss) income divided by net revenue. In addition, ODDITY defines “Adjusted diluted (loss) earnings per share” as Adjusted net (loss) income divided by diluted shares outstanding. ODDITY believes the presentations of Adjusted net (loss) income, Adjusted net (loss) income margin, and Adjusted diluted (loss) earnings per share are useful because they are frequently used by analysts, investors and other interested parties to evaluate companies in our industry. Further, ODDITY believes these measures are helpful in highlighting trends in our operating results, because they exclude the impact of items that are outside the control of management or not reflective of our ongoing operations and performance.

ODDITY defines “free cash flow” as net cash (used in) provided by operating activities less purchase of property and equipment.

ODDITY’s non-GAAP financial measures should be considered in addition to, not as a substitute for or in isolation from, its financial results prepared in accordance with U.S. GAAP. Other companies, including companies in our industry, may calculate these measures differently or not at all, which reduces their usefulness as comparative measures.

Reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures are included with the financial tables at the end of this release under the heading “Reconciliations of GAAP to Non-GAAP Measures.”

Forward-Looking Statements:

Certain statements in this press release may constitute “forward-looking” statements and information, within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 that relate to our current expectations and views of future events. In some cases, these forward-looking statements can be identified by words or phrases such as “aim,” “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “goal,” “hope,” “intend,” “may,” “objective,” “plan,” “potential,” “predict,” “project,” “shall,” “should,” “target,” “will,” “seek,” or similar words. The absence of these words does not mean that a statement is not forward-looking. These forward-looking statements address various matters, including ODDITY’s business strategy, market opportunity, ability to deliver superior products and experiences, ability to remedy the dislocation in our customer acquisition costs, potential long-term success and ODDITY’s outlook for the second quarter of 2026 and the full year ending December 31, 2026. These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. In addition, these forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, without limitation, the following: our ability to maintain the value of our brands; our ability to anticipate and respond to market trends and changes in consumer preferences; our ability to cost-effectively attract new customers (including by responding effectively to changes to algorithm-based bidding systems on key advertising platforms), retain existing customers and maintain or increase sales to those customers; our ability to maintain a strong base of engaged customers and content creators; the loss of suppliers or shortages or disruptions in the supply of raw materials or finished products; our ability to accurately forecast customer demand, manage our inventory, and plan for future expenses; our future rate of growth; competition; the fluctuating cost of raw materials; the illegal distribution and sale by third parties of counterfeit versions of our products or the unauthorized diversion by third parties of our products; changes in, or disruptions to, our shipping arrangements; our ability to manage our growth effectively; a general economic downturn or sudden disruption in business conditions; our ability to successfully introduce and effectively market new brands, or develop and introduce new, innovative, and updated products; foreign currency fluctuations; product returns; our ability to execute on our business strategy; our ability to maintain a high level of customer satisfaction; our ability to comply with and adapt to changes in laws and regulatory requirements applicable to our business, including with respect to regulation of the internet and e-commerce, evolving AI-technology related laws, tax laws, the anti-corruption, trade compliance, anti-money laundering, and terror finance and economic sanctions laws and regulations, consumer protection laws, and data privacy and security laws; failure of our products to comply with quality standards and risks related to product liability claims; trade restrictions; existing and potential tariffs; any data breach or other security incident of our information technology systems, or those of our third-party service providers or cyberattacks; risks related to online transactions and payment methods; any failure to obtain, maintain, protect, defend, or enforce our intellectual property rights; conditions in Israel and the Middle East generally, including as a result of geopolitical conflict; the concentration of our voting power as a result of our dual class structure; our status as a foreign private issuer; and other risk factors set forth in the section titled “Risk Factors” in our Annual Report on Form 20-F filed with the Securities and Exchange Commission on March 17, 2026, and other documents filed with or furnished to the SEC. These statements reflect management’s current expectations regarding future events and operating performance and speak only as of the date of this press release. You should not put undue reliance on any forward-looking statements. Except as required by applicable law, we undertake no obligation to update or revise publicly any forward-looking statements.

About ODDITY:

ODDITY is a consumer tech company that builds and scales digital-first brands to disrupt the offline-dominated beauty and wellness industries. The company serves approximately 68 million users with its AI-driven online platform, deploying data science to identify consumer needs, and developing solutions in the form of beauty and wellness products. ODDITY owns IL MAKIAGE, SpoiledChild and METHODIQ. The company operates with business headquarters in New York City, an R&D center in Tel Aviv, Israel, and a biotechnology lab in Boston.

Contacts:

Press:

[email protected]

Investor:

[email protected]

ODDITY TECH LTD.

CONSOLIDATED STATEMENTS OF INCOME

U.S. dollar in thousands (except per share data)

Three months ended
March 31,

  2026

    2025

  (Unaudited)

Net revenue

$

197,940

  $

268,076

  Cost of revenue

  59,970

    67,228

  Gross profit

  137,970

    200,848

  Selling, general and administrative

  163,460

    158,183

  Operating (loss) income

  (25,490

)

  42,665

  Financial income, net

  (5,306

)

  (2,647

)

(Loss) income before taxes on income

  (20,184

)

  45,312

  Taxes on income

  1,177

    7,481

  Net (loss) income

$

(21,361

)

$

37,831

  Weighted-average number of shares – basic (thousands)

  56,317

    56,003

  Weighted-average number of shares – diluted (thousands)

  56,317

    60,322

  Basic (loss) earnings per share

$

(0.38

)

$

0.68

  Diluted (loss) earnings per share

$

(0.38

)

$

0.63

  ODDITY TECH LTD.

CONSOLIDATED BALANCE SHEETS

U.S. dollar in thousands

March 31,

December 31,

  2026

  2025

(Unaudited)

(Audited)

ASSETS

CURRENT ASSETS:

Cash and cash equivalents

$

     278,597

$

     402,209

Marketable securities

  17,113

  11,170

Trade receivables

  23,313

  16,902

Inventories

  147,976

  135,181

Prepaid expenses and other current assets

  33,089

  36,336

Total current assets

  500,088

  601,798

LONG-TERM ASSETS:

Marketable securities

  371,626

  362,571

Property, plant and equipment, net

  9,986

  10,864

Deferred tax asset, net

  30,299

  27,693

Intangible assets, net

  46,141

  43,582

Goodwill

  64,904

  64,904

Operating lease right-of-use assets

  22,701

  22,311

Other assets

  4,082

  4,069

Total long-term assets

  549,739

  535,994

Total assets

$

     1,049,827

$

     1,137,792

ODDITY TECH LTD.

CONSOLIDATED BALANCE SHEETS

U.S. dollar in thousands

March 31,

December 31,

  2026

  2025

(Unaudited)

(Audited)

LIABILITIES AND SHAREHOLDERS’ EQUITY

CURRENT LIABILITIES:

Trade payables

$

     65,252

$

     75,957

Other accounts payable and accrued expenses

  51,374

  32,869

Operating lease liabilities, current

  6,537

  6,002

Total current liabilities

  123,163

  114,828

LONG-TERM LIABILITIES:

Operating lease liabilities, non-current

  17,260

  17,463

Exchangeable Note

  585,222

  584,368

Other long-term liabilities

  25,272

  24,638

Total liabilities

  750,917

  741,297

SHAREHOLDERS’ EQUITY:

Class A Ordinary shares

  13

  15

Class B Ordinary shares

  3

  3

Additional paid-in capital

  4,230

  77,571

Accumulated other comprehensive income

  2,011

  4,892

Retained earnings

  292,653

  314,014

Total shareholders’ equity

  298,910

  396,495

Total liabilities and shareholders’ equity

$

     1,049,827

$

     1,137,792

ODDITY TECH LTD.

CONSOLIDATED STATEMENTS OF CASH FLOWS

U.S. dollar in thousands

Three months ended March 31,

  2026

    2025

  (Unaudited)

Cash flows from operating activities:

Net (loss) income

$

(21,361

)

$

37,831

  Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:

Depreciation and amortization

  4,269

    2,655

  Share-based compensation

  8,101

    7,084

  Deferred income taxes

  (1,803

)

  (302

)

Amortization of debt issuance costs

  854

    —

  Change in trade receivables

  (6,411

)

  (4,289

)

Change in prepaid expenses and other receivables

  2,772

    (4,631

)

Change in inventories

  (12,795

)

  3,554

  Change in trade payables

  (10,704

)

  41,642

  Change in other accounts payable and accrued expenses

  17,330

    4,903

  Change in operating lease right-of-use assets

  1,943

    1,969

  Change in operating lease liability

  (2,002

)

  (2,049

)

Other

  (427

)

  (31

)

Net cash (used in) provided by operating activities

$

(20,234

)

$

88,336

  Cash flows from investing activities:

Purchase of property, plant and equipment

  (858

)

  (1,002

)

Capitalization of software development costs and investment in other intangible assets

  (4,197

)

  (1,739

)

Investment in marketable securities, net

  (18,435

)

  (1,069

)

Other investing activities

  —

    (151

)

Net cash used in investing activities

  (23,490

)

  (3,961

)

Cash flows from financing activities:

Proceeds from exercise of options

  13

    1,931

  Repurchase and retirement of ordinary shares

  (80,055

)

  —

  Net cash (used in) provided by financing activities

  (80,042

)

  1,931

  Effect of exchange rate fluctuations on cash and cash equivalents

  106

    284

  Net (decrease) increase in cash, cash equivalents and restricted cash

  (123,660

)

  86,590

  Cash, cash equivalents and restricted cash at the beginning of the period

  402,279

    50,347

  Cash, cash equivalents and restricted cash at the end of the period

$

278,619

  $

136,937

  ODDITY TECH LTD.

Reconciliation of GAAP to Non-GAAP Measures

U.S. dollar in thousands (except per share data)

Three months ended
March 31,

  2026

    2025

  (Unaudited)

Reconciliation of Net (Loss) Income and Adjusted EBITDA

Net (loss) income

$

(21,361

)

$

37,831

  Financial income, net

  (5,306

)

  (2,647

)

Taxes on income

  1,177

    7,481

  Depreciation and amortization

  4,269

    2,655

  Share-based compensation

  8,101

    7,084

  Other adjustments1

  6,084

    —

  Adjusted EBITDA

$

                  (7,036

)

$

                 52,404

  Reconciliation of Net (Loss) Income and Adjusted Net (Loss) Income

Net (loss) income

$

(21,361

)

$

37,831

  Share-based compensation

  8,101

    7,084

  Other adjustments1

  6,084

    —

     Tax adjustments2

  (2,608

)

  (3,106

)

Adjusted net (loss) income

$

                 (9,784

)

$

                 41,809

  ¹ Represents costs of certain legal matters and employee actions outside the ordinary course of business. 
2 Represents the tax impact of (a) the reconciling items above and (b) in the first quarter of 2025, other discrete tax items.

Three months ended
March 31,

  2026

    2025

(Unaudited)

Diluted (loss) earnings per share

$

(0.38

)

$

0.63

Adjusted diluted (loss) earnings per share

$

                  (0.17

)

$

                     0.69

Reconciliation of net cash (used in) provided by operating activities to free cash flow Three months ended
March 31,

  2026

    2025

  (Unaudited)

Net cash (used in) provided by operating activities

$

(20,234

)

$

88,336

  Purchase of property and equipment

  (858

)

  (1,002

)

Free cash flow

$

               (21,092

)

$

                 87,334

  ODDITY TECH LTD.

Supplemental Financial Information

U.S. dollar in thousands

Cash, cash equivalents, and investments

March 31,

December 31,

  2026

  2025

(Unaudited)

(Audited)

Cash, restricted cash, and cash equivalents

$

278,619

$

402,279

Marketable securities

  388,739

  373,741

Total cash and investments

$

667,358

$

776,020

Net revenue by sales channel Three months ended
March 31,

  2026

    2025

  (Unaudited)

Online direct-to-consumer

$

193,055

  $

261,053

  Percent of net revenue

  98

%

  97

%

Other (Israel retail, marketing affiliates)

$

4,885

  $

7,023

  Percent of net revenue

  2

%

  3

%

Net Revenue

$

197,940

  $

268,076

  Note: ODDITY does not sell to resellers or distributors. Online direct-to-consumer revenues are generated directly by ODDITY through its online platform only (i.e., ILMAKIAGE.com, SpoiledChild.com, and METHODIQ.com). All revenue in Israel, including revenue generated in stores, online, and from beauty academies, is included in Other.

Oddity Tech Ltd. (ODD) Q1 2026 Earnings Call Transcript

Upcoming presentations at ENDO 2026 highlight Lundbeck's Focused Innovator strategy and continued expansion into rare neuroendocrine diseases with high unmet medical needsThe scientific program showcases Lundbeck's investigational neurohormonal and neuroimmunological targeted therapeutic candidates, asedebart and Lu AG22515, respectively Preliminary Phase II data for asedebart, an investigational anti-adrenocorticotropic hormone (ACTH) monoclonal antibody in Cushing's disease (CD), demonstrate Lundbeck's biomarker-supported approach to evaluating novel therapeutic mechanisms in rare endocrine disordersPreclinical characterization of the CD40L blocker Lu AG22515 will be shared as well as data from a patient study in thyroid eye disease (TED,) reflecting exploratory studies of CD40L modulation in autoimmune disease biology, with potential relevance to neuroinflammation implicated in several neurological and endocrine diseases, /PRNewswire/ -- H. Lundbeck A/S (Lundbeck) today announced that new data will be presented at the 2026 Endocrine Society's Annual Meeting (ENDO), taking place June 13–16 in Chicago, Illinois, U.S. Lundbeck will present preliminary Phase II data for asedebart (Lu AG13909) in CD, reflecting Lundbeck's expansion into neuroendocrine diseases. In addition, preclinical and Phase Ib clinical exploratory findings on Lu AG22515 in patients with TED will be shared, providing insights into the broader therapeutic potential of CD40L pathway modulation across inflammatory and immunological disorders.

"Lundbeck's presence at ENDO 2026 reflects how we have expanded upon our neuroscience heritage in recent years. This involves pursuing biological drug targets within hormonal and immunological signaling pathways that offer the potential to deliver highly differentiated therapeutics for neurological and neuroendocrinology indications with high medical unmet need," said Johan Luthman, EVP and Head of Research & Development at Lundbeck. "Through this approach, we have made significant progress across our rare disease programs, enabling decisive, biomarker-supported patient studies that facilitate early development decisions, as exemplified by our ENDO 2026 scientific program."

Asedebart data provide insight into ACTH neutralization in Cushing's disease

Among the highlights are preliminary Phase II data for asedebart, an investigational anti-adrenocorticotropic hormone (ACTH) monoclonal antibody, being evaluated in adults with CD.

CD is a rare neuroendocrine disorder typically caused by an ACTH-secreting pituitary adenoma, leading to chronic excess cortisol production and substantial physical and neuropsychiatric burden.1,2 While surgery is the standard first-line treatment, many patients experience persistent or recurrent disease despite available pharmacologic options, and significant unmet need remains.

The Phase II data being presented include impact on urinary free cortisol (UFC) levels following individualized dose titration of asedebart, alongside safety and tolerability assessments, supporting further understanding of direct ACTH neutralization in CD.

The CD study builds on earlier Phase I findings in classic congenital adrenal hyperplasia (CAH) (ClinicalTrials.gov: NCT05669950), which showed pharmacodynamic effects on key adrenal steroid biomarkers. The CD data presented at ENDO add to Lundbeck's evaluation of targeting ACTH-driven endocrine conditions with links to brain function — using early clinical and pharmacodynamic evidence to assess therapeutic potential in areas of significant unmet need.

Asedebart has received Orphan Drug Designation (ODD) for CAH in the European Union and the United States as well as ODD in Japan for the treatment of patients with CD and CAH.

Lu AG22515 data provide insight into CD40L pathway biology

At ENDO, Lundbeck will also present preclinical characterization findings for the investigational CD40L blocker Lu AG22515. CD40L is a key immune signaling molecule heavily implicated in a wide range of immune disorders, neurology and potentially endocrine conditions.3 The presentation will describe the inhibitory effect and PK/PD profile of Lu AG22515, including effects on membrane-bound and soluble CD40L, B-cell activation and differentiation, proinflammatory cytokine production and in vivo antibody responses.

Additionally, clinical findings will be presented from an exploratory Phase Ib open label study on AG22515 in TED patients. TED is an autoimmune disorder that can cause proptosis, diplopia, pain, disfigurement and, in severe cases, visual impairment or vision loss.4 The presentation will cover three areas: pharmacodynamic assessments designed to evaluate CD40L pathway engagement, safety and tolerability, and preliminary clinical efficacy in TED, including effects on proptosis and other measures of disease activity. The data further enhance the understanding of CD40L pathway modulation in TED and other CD40L-mediated immune disorders.

Asedebart and Lu AG22515 are investigational drugs not approved for marketing by any regulatory authority worldwide, and the efficacy and safety of both molecules have not been established.

Details of Lundbeck presentations at ENDO 2026

Therapeutic Area

Presentation content

Presentation Type

Reference

Cushing's disease
Asedebart
Lu AG13909

A Phase II, Open-label, Dose-titration Trial to Investigate the Safety, Tolerability, Pharmacokinetics, and Efficacy of the Novel Anti-ACTH Antibody Asedebart in Adults with Cushing's Disease

Oral presentation

Sun 14 June
14:45-15:00 CT
Room W183BC

Thyroid eye disease (TED)
Lu AG22515

Results From a Phase 1b Trial Evaluating CD40-Ligand Blocker Lu AG22515 in Patients with Moderate-to-Severe Thyroid Eye Disease

Oral presentation

Mon 15 June
14:15-14:30 CT
W184ABC

Thyroid eye disease (TED)
Lu AG22515

Preclinical Pharmacokinetic and Pharmacodynamic Profile of Lu AG22515, a CD40-Ligand Blocker in Development for Thyroid Eye Disease

Rapid-fire presentation and poster

Sun 14 June
09:00- 16:00 CT
ENDOExpo;
Poster floor

About Cushing's disease

Cushing's disease is a rare neuro-endocrine disorder caused by a pituitary adenoma that secretes excess ACTH, leading to chronic overproduction of cortisol.1 The condition is associated with significant morbidity and increased mortality, and patients may experience a wide range of physical and neuropsychiatric symptoms.2 First-line treatment is surgical removal of the tumor; however, not all patients are eligible, achieve sustained remission, or benefit fully from current available treatment options, highlighting an ongoing unmet need for effective and well-tolerated therapies.

About asedebart (Lu AG13909)

Asedebart is a humanized anti-ACTH monoclonal antibody designed specifically to recognize ACTH with high affinity. It blocks the binding of ACTH to the melanocortin 2 receptor in the adrenal glands and thereby inhibits the neurohormonal signalling of ACTH. This inhibition causes a decreased secretion of glucocorticoids, mineralocorticoids and androgens from the adrenal glands. 5,6 ACTH plays a key role in the biosynthesis of adrenal steroids7 and is therefore considered a promising therapeutic target in conditions characterized by elevated ACTH levels.6

About thyroid eye disease (TED)

Thyroid eye disease (TED) is a rare autoimmune condition associated with thyroid dysfunction, characterized by inflammation and expansion of retro-orbital tissues. Clinical manifestations include proptosis, double-vision, pain, swelling, and disfigurement, and in severe cases may lead to visual impairment or loss of vision. TED can have a substantial impact on daily functioning, quality of life and psychological wellbeing.4

Current treatments are not optimal for all patients and may be associated with significant adverse effects, highlighting the need for additional therapeutic approaches that target underlying autoimmune disease biology. 4

About Lu AG22515

Lu AG22515 is an investigational CD40L blocker being evaluated in CD40L mediated autoimmune diseases. Lu AG22515 is a recombinant fusion protein that binds CD40 ligand (CD40L) and human serum albumin (HSA) to extend half-life. By blocking the interaction between CD40L and the CD40 receptor, Lu AG22515 is designed to modulate a key immune co-stimulatory pathway involved in B-cell activation, antibody responses and inflammatory signaling.

Contacts
Anders Crillesen
Senior Director, External & Internal Relations
[email protected]
+45 27 79 12 86

Jens Høyer
Vice President, Head of Investor Relations
[email protected]
+45 30 83 45 01

About H. Lundbeck A/S

Lundbeck is a biopharmaceutical company focusing exclusively on brain health. With more than 70 years of experience in neuroscience, we are committed to improving the lives of people with neurological and psychiatric diseases.

Brain disorders affect a large part of the world's population, and the effects are felt throughout society. With the rapidly improving understanding of the biology of the brain, we hold ourselves accountable for advancing brain health by curiously exploring new opportunities for treatments.

As a focused innovator, we strive for our research and development programs to tackle some of the most complex neurological challenges. We develop transformative medicines targeting people for whom there are few or no treatments available, expanding into neuro-specialty and neuro-rare from our strong legacy within psychiatry and neurology.

We are committed to fighting stigma and we act to improve health equity. We strive to create long term value for our shareholders by making a positive contribution to patients, their families, and society as a whole.

Lundbeck has more than 5,000 employees in more than 20 countries and our products are available in more than 80 countries. For additional information, we encourage you to visit our corporate site www.lundbeck.com and connect with us via LinkedIn.

References:

Lacroix A, Feelders RA, Stratakis CA, et al. Lancet. 2015;386(9996):913–927Sharma ST, Nieman LK, Feelders RA. Pituitary. 2015;18(2):188–194Ots HD, Tracz JA, Vinokuroff KE, et al. Int J Mol Sci. 2022;23(8):4115Dhaliwal NK, Razzaq L. Cureus. 2025;17(6):e86483.Lundbeck. Data on fileFeldhaus AL, et al. Endocrinology 2017;158(1):1-8Xing Y, et al. J Endocrinol 2011;209(3):327-35CONTACT:
H. Lundbeck A/S
Ottiliavej 9, 2500 Valby, Denmark
+45 3630 1311
[email protected]

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/h--lundbeck-a-s/r/lundbeck-to-present-new-patient-data-on-neuroendocrine-and-neuroimmunology-programs-at-endo-2026,c4359848

The following files are available for download:

View original content:https://www.prnewswire.com/news-releases/lundbeck-to-present-new-patient-data-on-neuroendocrine-and-neuroimmunology-programs-at-endo-2026-302796359.html

SOURCE H. Lundbeck A/S

Leopold Aschenbrenner is not an ordinary hedge fund manager. The former OpenAI researcher has built a fund, Situational Awareness, that now manages roughly $13.7 billion per its latest 13F filing.

According to a recent 13G filing with the Securities and Exchange Commission (SEC), Situational Awareness recently bought 12.4 million shares of Nebius Group (NBIS +0.43%) -- representing a 5.6% ownership stake in the neocloud company.

Aschenbrenner's Nebius position is not a random allocation. Rather, it fits a meticulously constructed artificial intelligence (AI) infrastructure thesis that's on display across his fund's entire book.

Image source: The Motley Fool.

Why did Leopold Aschenbrenner just buy Nebius stock? Situational Awareness is aggressively long the physical infrastructure layer of AI data center build-outs. Specifically, Aschenbrenner's portfolio includes meaningful positions in competing neoclouds Iren (IREN 0.17%) and CoreWeave (CRWV 3.86%).

Iren is former Bitcoin miner pivoting its infrastructure to help manage AI workloads. Back in November, Iren secured a $9.7 billion capacity deal with Microsoft. More recently, the company also inked $5.5 billion worth of deals with Nvidia.

Meanwhile, CoreWeave boasts a backlog exceeding $99 billion and works with hyperscalers including OpenAI, Anthropic, and Meta Platforms.

Adding Nebius completes the pure-play neocloud trifecta, each riding the same secular infrastructure demand tailwinds.

What are neoclouds and why do they matter for AI? A neocloud is a cloud infrastructure provider serving GPU-intensive AI workloads, including model training, inference deployments, and agentic systems at scale. Unlike hyperscalers such as Amazon Web Services (AWS), Microsoft Azure, or Google Cloud Platform (GCP), which offer bundled services across compute, database management, data analytics, and storage, neoclouds focus purely on leasing access to GPU hardware designed specifically for managing AI applications.

The neocloud business model is increasingly important because hyperscalers are struggling to provision enough GPU capacity to meet demand from premier AI labs and large enterprises. Given some of the deals referenced above, it's clear that even the hyperscalers are starting to outsource GPU capacity to neoclouds rather than compete with them.

Today's Change

(

0.43

%) $

0.92

Current Price

$

212.61

Should you buy Nebius stock right now? Nebius reported revenue of $399 million during the first quarter, up 684% year over year. According to management, the company is on pace to achieve between $7 billion and $9 billion in annualized run rate revenue by year-end.

Given the company's current market capitalization of $58 billion, this would imply a forward price-to-sales (P/S) multiple of roughly 6.4 at the high end of Nebius' ARR guidance. I do not see this as unreasonable for an AI infrastructure business growing at this pace with contracted, multiyear agreements from some of the largest AI hyperscalers.

With that said, Nebius' stock has already skyrocketed by more than 176% in 2026. If management delivers on its ARR target, investors could be buying into a hypergrowth story at a fairly reasonable price point relative to the frothy valuations seen during prior years of the AI revolution.

The risk, however, is that current momentum could be overextended. Investors following Aschenbrenner into Nebius are arguably paying a premium for a story the market already knows -- all at a price that leaves little room for execution error. While I like Nebius as a long-term AI infrastructure opportunity, I think there will be better entry points for the stock.

Adam Spatacco has positions in Alphabet, Amazon, Meta Platforms, Microsoft, and Nvidia. The Motley Fool has positions in and recommends Alphabet, Amazon, Bitcoin, Meta Platforms, Microsoft, and Nvidia. The Motley Fool has a disclosure policy.

June 03, 2026 07:01 ET  | Source: IREN

NEW YORK, June 03, 2026 (GLOBE NEWSWIRE) -- IREN Limited (NASDAQ: IREN) (“IREN”) today announced the signing of a transmission connection agreement to support a planned 800MW data center campus in Bundey, South Australia.

Highlights

800MW data center campus in Bundey, South AustraliaHigh-voltage transmission connection secured into the utility’s substationOn track to commence energization from 2028Submarine fiber connectivity into key Asia-Pacific demand centersExpected to create over 200 ongoing skilled jobs, plus more than 500 during construction This marks IREN’s first announced Australian data center project and one of the largest in the Asia-Pacific region announced to date. The site is located approximately 78 miles northeast of Adelaide.

Asia-Pacific is among the world’s fastest-growing sources of AI demand, with a significant gap between projected demand and available infrastructure. South Australia's grid targets reaching 100% net renewable energy by 2027, and the site benefits from submarine fiber connectivity into major regional demand centers including Singapore, Indonesia, South Korea, and Japan.

The transmission connection agreement secures four 330kV feeder exits at the utility’s substation, expected to support up to 800MW without requiring network upgrades. IREN expects to commence early works and procurement in parallel with satisfaction of regulatory approvals and conditions under the transmission connection agreement.

Daniel Roberts, Co-Founder and Co-CEO of IREN, said:

“South Australia offers what AI infrastructure at scale requires: abundant clean energy, the connectivity to serve the APAC region, and a State Government that understands the opportunity and is acting on it.

“The Bundey campus is able to serve global and regional AI demand, as well as South Australia's own growing need for AI compute. We look forward to partnering with the Government of South Australia, local communities and industry to expand domestic access to AI infrastructure, support research and innovation, and help build the skills and jobs the AI economy requires.”

Peter Malinauskas, Premier of South Australia, said:

“Data centres are a significant economic opportunity, which can bring high-quality jobs, stronger renewable energy infrastructure, and new opportunities for regional communities.

“South Australia’s leadership in renewable energy, our record investment in higher education, our unashamed pro-jobs and pro-business outlook and appointing the nation’s first dedicated Minister for Artificial Intelligence means we are uniquely placed to seize the opportunities of AI.

“IREN’s proposed Bundey campus represents a significant investment in our state, with the potential to create hundreds of construction jobs, support long-term skilled roles, and strengthen South Australia’s position as a technology and innovation hub for the Asia-Pacific region.”

About IREN

IREN is a vertically integrated AI Cloud provider, delivering large-scale data centers and GPU clusters for AI training and inference. IREN’s platform is underpinned by its expansive portfolio of grid-connected land and power in renewable-rich regions across North America, Europe and APAC.

Contacts

Investors
[email protected]

Media
[email protected]

Forward-Looking Statements

This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or IREN’s future financial or operating performance. Forward-looking statements include information concerning possible or assumed future results of operations, including descriptions of our business plan and strategies, revenue targets, expectations relating to capital expenditures, anticipated hardware deliveries, receipt of planning, environmental, grid and other regulatory approvals and completion of applicable grid studies, pipeline capacity, geographic expansion initiatives, labor requirements, job and skills creation, economic benefits and trends we expect to affect our business. These statements often include words such as “anticipate,” “believe,” “may,” “can,” “should,” “could,” “might,” “plan,” “possible,” “project,” “strive,” “budget,” “forecast,” “expect,” “intend,” “target,” “will,” “estimate,” “predict,” “potential,” “continue,” “scheduled”. Forward-looking statements may also be made, verbally or in writing, by members of our Board or management team in connection with this news release.

These forward-looking statements are based on management’s current expectations and beliefs. These statements are neither promises nor guarantees, but involve and are subject to known and unknown risks, uncertainties and other important factors that may cause IREN’s actual results, performance or achievements to differ materially from any future results performance or achievements expressed or implied by the forward-looking statements, including IREN’s ability to successfully execute on its growth strategies and operating plans, achieve its targeted annualized run-rate revenue and operating capacity, continue to develop its existing data center sites, design and deploy direct-to-chip liquid cooling systems, and diversify and expand into the market for high performance computing solutions (including the market for cloud services and potential colocation services), along with other important factors discussed under the caption “Risk Factors” in IREN’s Annual Report on Form 10-K, filed with Securities and Exchange Commission (the “SEC”) on August 28, 2025 and our other filings with the SEC. These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any forward-looking statement included in this press release speaks only as of the date of such statement. Except as required by law, IREN disclaims any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise.

Technical Momentum Reaches Top TierAccording to Benzinga Edge, the CIFR‘s stock momentum score surged week-on-week to reach a near-perfect 98.89. This proprietary ranking evaluates a stock’s relative strength based on its price movement patterns and volatility across multiple timeframes, ranking it as a percentile relative to other stocks.

The technical surge is backed by staggering price action. Shares are up 663.90% over the past year, complemented by a 53.99% leap over the last month alone.

Benzinga Edge Stock Rankings‘ price trend indicators confirm this broad strength, signaling positive upward trends across the short-term, medium-term, and long-term.

Bernstein Projects 22% Upside On AI PivotOn June 3, Bernstein SocGen Group initiated coverage on CIFR with an “Outperform” rating and a $32.00 price target, implying a projected 21.95% upside from the current level.

Bernstein highlights Cipher’s unique positioning to capitalize on explosive AI data center demand. The firm noted Cipher’s active multi-GW power development pipeline and a massive ~$24 billion order book backed by hyperscaler sponsorship.

Analysts emphasized that the company’s capital-light lease model will lead to a rapid AI-revenue ramp-up, allowing them to solve the critical “time to compute” bottleneck for major tech players.

With a planned 30 GW power portfolio and soaring market momentum, Cipher Digital is making a compelling case as the premier infrastructure play of 2026.

CIFR Stock Gains In 2026CIFR shares have risen 77.78% year-to-date and 40.85% in the six months. Meanwhile, the Nasdaq Composite index was up 15.57% YTD.

It has traded in a 52-week range of $3.29 to $28.62. The stock was lower by 3.20% in premarket on Thursday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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IREN Limited (NASDAQ:IREN) shares faced intense selling pressure on Thursday. This downward movement follows a sharp reversal from Wednesday’s gains, which were driven by a major network expansion announcement.

• IREN stock is taking a hit today. Why is IREN stock dropping?

Broader Cryptocurrency Market Sell-OffTransitioning Business Model ExposureDespite its active pivot toward artificial intelligence (AI), market experts emphasize that IREN remains highly sensitive to Bitcoin's price fluctuations.

The company operates data centers powered by renewable energy across Canada and the U.S. While IREN is converting its Bitcoin mining capacity for AI cloud infrastructure and working with leaders such as Microsoft, its historical ties to digital asset mining leave it exposed to crypto market volatility.

Current Short InterestThe stock’s technical setup shows shifting dynamics. In the latest reporting period, short interest in IREN decreased from 58.36 million to 50.94 million shares, leaving 14.72% of the company’s public float sold short. Based on its recent average daily trading volume of 64 million shares, short sellers would require approximately one day to cover their positions.

Bundey Campus Momentum PausesThursday’s decline stalls the momentum gained on Wednesday, when IREN announced a transmission connection agreement for a planned 800MW data center campus in Bundey, South Australia.

Highlighting the long-term vision, co-founder and co-CEO Daniel Roberts stated that South Australia offers the “clean energy, connectivity and policy support needed for AI infrastructure development at scale.” The project targets energization starting in 2028.

IREN Stock: Key Levels and Momentum IndicatorsThe bigger-picture trend is still pointed up: IREN is trading about 3.5% above its 20-day SMA at $58.78 and roughly 31.1% above its 200-day SMA at $46.39, which is classic pullback within an uptrend positioning. The 20-day SMA is also above the 50-day SMA, and the 50-day SMA is above the 200-day SMA, keeping the trend stack bullish.

From a structure standpoint, the stock is still working below its 52-week high of $76.87 after a recent swing high in May.

IREN Stock Price Activity: Iren shares were down 4.96% at $62.44 at the time of publication on Thursday, according to Benzinga Pro data.

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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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The global scramble for artificial intelligence (AI) dominance has created an unforeseen bottleneck, one of the most important constraints for AI infrastructure growth, alongside chip availability, data center capacity, and deployment timelines.

Hyperscale cloud providers and AI leaders are no longer just fighting for GPUs; they are in a desperate, worldwide hunt for raw, permitted electrical capacity. This frantic search for grid-connected real estate is revealing a new class of kingmakers: legacy Bitcoin miners who have spent years quietly accumulating a valuable and increasingly scarce asset for AI data centers: grid-connected power.

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More Than a Data Center, It's a Strategic Power MoatIREN Today

$51.14 -0.38 (-0.73%)

As of 09:36 AM Eastern

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52-Week Range$9.52▼

$76.87P/E Ratio107.53

Price Target$82.62

IREN Limited NASDAQ: IREN is aggressively capitalizing on this structural shift, executing a pivot from a volatile crypto miner into a vertically integrated AI Cloud infrastructure provider.

The latest move, a landmark transmission connection agreement for a planned 800MW data center campus in Bundey, South Australia, perfectly illustrates this strategy.

Announced on June 3, 2026, the deal is less about building another data center and more about monetizing a scarce resource.

The agreement secures four 330kV feeder exits directly from the local utility's substation, a critical advantage that enables the full 800MW capacity without requiring costly, time-consuming network upgrades. Situated near major submarine fiber routes connecting to key Asia-Pacific demand centers like Singapore and Japan, and located in a region targeting 100% net renewable energy by 2027, the Bundey campus is a strategically important expansion for IREN’s AI infrastructure platform. It provides a clear path to energization by 2028, offering hyperscalers a solution to their most pressing challenge: finding massive, stable power in geopolitically friendly regions.

Microsoft's Backing Unlocks an Ultra-Efficient Capital StackMicrosoft Today

$391.79 -5.57 (-1.40%)

As of 09:36 AM Eastern

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52-Week Range$356.28▼

$555.45Dividend Yield0.93%

P/E Ratio23.52

Price Target$561.20

Executing a pivot of this magnitude requires a sophisticated and robust capital structure.

IREN has demonstrated its ability to secure institutional backing, not as a Bitcoin miner, but as a critical infrastructure partner for Big Tech.

On June 1, 2026, IREN closed a $3.65 billion investment-grade GPU financing facility to support its AI Cloud contract with Microsoft NASDAQ: MSFT.

The facility's A and A(low) ratings from Fitch and DBRS, respectively, are anchored by Microsoft's offtake agreement, signaling that credit markets are underwriting IREN based on the quality of its contracted cash flows, not the price of Bitcoin.

The structure is exceptionally efficient. While the blended cost of debt is 6%, the deal includes significant customer prepayments from Microsoft, which act as a zero-interest funding source. This drags the all-in average financing cost for the required $5.81 billion in GPU capital expenditure down to an impressively low 3.31%.

Further bolstering its balance sheet, IREN recently secured a $3.0 billion convertible note offering due in 2033. This move provides a long-term runway to fund its massive capex pipeline, while a concurrent capped call hedge mitigates immediate equity dilution for existing shareholders. This is the type of disciplined financial engineering that signals a management team focused on long-term value creation through a period of intense capital deployment.

Trading a Crypto Multiple for a Utility PremiumThe market is rapidly re-rating IREN, recognizing the valuation arbitrage underway. This isn't just a narrative shift; it's a fundamental repricing of the business. Bitcoin miners historically trade at low multiples due to the volatility of their underlying asset, whereas stable infrastructure providers command premium valuations for their predictable, long-term cash flows. IREN is actively forcing the market to trade the former for the latter.

While the Q3 2026 earnings report showed a top-and-bottom-line miss driven by the legacy mining operations, this headline figure obscures the growth in the business segment that matters. AI Cloud Services revenue for IREN rose 142% quarter-over-quarter, growing from $7 million to $17 million. This provides the definitive proof-of-concept for the AI infrastructure pivot, demonstrating real demand and a clear path to the targeted $4.4 billion in annualized run-rate revenue, which IREN says is not fully contracted and depends on assumptions around GPU delivery, commissioning, utilization, and pricing.

Institutional money is taking notice and voting with capital. Recent filings show multiple institutional investors increasing their positions, all citing the AI infrastructure buildout as the chief reason. This institutional accumulation is putting immense pressure on short-sellers who have bet against the transition.

Exchange data reveals a significant short capitulation is already in progress, with short interest declining from a peak of 58.36 million shares to 50.94 million. This represents nearly 7.5 million shares covered as bears are forced to reconsider a thesis predicated on a business model that is rapidly becoming legacy.

A New Power Broker EmergesIREN Stock Forecast Today12-Month Stock Price Forecast:
$82.62
60.36% Upside

Moderate Buy
Based on 19 Analyst Ratings

Current Price$51.52High Forecast$105.00Average Forecast$82.62Low Forecast$46.00IREN Stock Forecast Details

IREN is no longer a simple proxy for the volatile crypto cycle. IREN is a hyperscale landlord hoarding the AI economy's most critical asset.

The strategic land grab in Australia, backed by billions in investment-grade financing and validated by exponential growth in its AI Cloud segment, signals a fundamental transformation.

Investors focused on the structural buildout of the AI economy may find the transition from hashrate to hyperscale a compelling case study in strategic asset monetization.

The execution risk associated with such a large-scale capital deployment remains a key factor to monitor, but for those with a long-term view, IREN appears poised to become a key power broker in the new AI economy.

Should You Invest $1,000 in IREN Right Now?Before you consider IREN, you'll want to hear this.

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Responding to a prominent Bitcoin (CRYPTO: BTC) investor’s anecdote about a quantum firm’s impossible mining pitch, Shkreli bluntly declared, “They were lying.”

The ‘Trivial’ Bitcoin PitchThe controversy ignited over a social media post from Mike Alfred, a value equity investor who sits on the board of Bitcoin mining company IREN Ltd. (NASDAQ:IREN).

Alfred shared that a major quantum company advised him to stop investing in crypto mining, claiming their technology made it “relatively trivial” to mine all remaining unmined Bitcoin in a mere 48 hours.

Shkreli explicitly named IONQ as the culprit behind the outlandish claim. “IONQ said this to a lot of people and they were lying,” Shkreli posted on X.

When a user expressed disappointment that he didn’t reiterate his usual call to short the stock, Shkreli casually responded, “I mean, yeah, of course.”

A History Of ‘Crazy’ StatementsShkreli has consistently referred to the quantum hardware developer as “one of the best shorts” of his career, repeatedly accusing the company and its peers of relying on revenue gimmicks.

Adding fuel to his short thesis, critics have pointed out that Chapman previously liquidated nearly 80% of his beneficial stake when the stock’s valuation peaked.

Reality Check On Quantum HypeThe notion that any current quantum computer could mine the remaining Bitcoin supply in two days is widely considered a massive technological stretch.

How Has IONQ Performed In 2026?Shares of IONQ have advanced by 39.96% year-to-date. It closed 10.60% higher at $62.80 apiece on Monday, and it was 2.07% higher in premarket on Tuesday.

Over the last month, IONQ stock was up 27.57%, and it rose 15.53% over the last six months and 60.94% over the year. Benzinga’s Edge Stock Rankings indicate that IONQ maintains a strong price trend in the short, long, and medium terms.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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Key Takeaways IREN plans an 800MW data center campus in South Australia, with energization starting in 2028.The Bundey site connects to major Asian markets through submarine fiber links and regional connectivity.IREN aims to address rising APAC AI demand with additional computing capacity and transmission access. IREN Limited (IREN - Free Report) recently announced plans to develop an 800-megawatt data center campus in Bundey, South Australia. The project is the company's first announced data center campus in Australia and adds a new growth market to its AI infrastructure platform. IREN has secured a transmission connection agreement that provides access to four 330kV feeder exits at the utility substation. IREN expects this agreement to support up to 800 megawatts of capacity without requiring network upgrades. Energization of the Australia campus is expected to begin in 2028.

The project is aimed at serving growing AI infrastructure demand across the Asia-Pacific region. IREN sees Asia-Pacific as one of the fastest-growing sources of AI demand globally, where available AI infrastructure in the region remains limited. IREN believes that the region's large population, growing AI adoption and shortage of computing infrastructure create an opportunity to develop additional AI capacity closer to customers in the region.

A key feature of the Bundey campus is its connectivity to major Asian markets. The site has submarine fiber links to Singapore, Indonesia, South Korea and Japan. These countries are important markets for cloud computing and AI workloads. Management expects Australia to serve as a regional hub for AI infrastructure because it combines power availability with connectivity to major Asia-Pacific demand centers.

The company expects the Bundley project to create more than 500 construction jobs and more than 200 ongoing skilled jobs once operational. As of now, the campus remains several years away from energization and securing transmission access will be an important step because access to power is one of the biggest constraints for large-scale AI infrastructure projects. The above-mentioned factors show how the project provides IREN with an additional platform to support future growth and help meet rising AI demand in the Asia-Pacific region.

IREN Stock Faces Stiff CompetitionIREN faces intense competition from Applied Digital (APLD - Free Report) and TeraWulf (WULF - Free Report) in the AI infrastructure space.

In May 2026, Applied Digital signed a 15-year lease agreement with a U.S.-based investment-grade hyperscale customer for Polaris Forge 3, APLD’s fourth AI data center campus. Polaris Forge 3 will provide 300 MW of IT capacity and will be supported by approximately 430 MW of utility power, and will be used to support large-scale AI training and inference workloads. The agreement increases APLD's total contracted lease revenues across four AI Factory campuses to approximately $31 billion.

In May 2026, TeraWulf acquired the Muskie Data Campus, a new AI and high-performance computing (HPC) development site in Eastern Kentucky. The campus is expected to support more than 1 GW of data center capacity. The Muskie Data Campus becomes TeraWulf’s second major digital infrastructure campus in Kentucky, in addition to its 480 MW Justified Data campus in Hancock County. The acquisition expands WULF’s development pipeline and increases its ability to support AI and HPC customers across different regions and power markets.

IREN’s Price Performance, Valuation & EstimatesShares of IREN have surged 56.2% in the year-to-date period against the Zacks Financial Miscellaneous Services industry’s decline of 11.9%.

IREN YTD Price Return Performance
Image Source: Zacks Investment Research

IREN shares are overvalued, as suggested by the Value Score of F. In terms of forward price/sales, IREN is trading at 8.37X compared with the industry’s 2.81X.

IREN Forward 12 Months (P/S) Valuation
Image Source: Zacks Investment Research

The Zacks Consensus Estimate for IREN’s bottom line in fiscal 2026 is pegged at a loss of 32 cents per share, revised downward over the past 30 days. IREN reported earnings of 4 cents per share in fiscal 2025.

Image Source: Zacks Investment Research

Currently, IREN carries a Zacks Rank #4 (Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Almost six months ago, our December 2025 piece Analysts See Triple-Digit Revenue Growth in 2026 for These 3 AI Infrastructure Stocks argued that three names sat in the sweet spot of the AI buildout: Nebius (NASDAQ: NBIS | NBIS Price Prediction) with an annual recurring revenue (ARR) ramp implying up to roughly 1,600% growth, IREN (NASDAQ: IREN) targeting over 500% growth, and CoreWeave (NASDAQ: CRWV) with up to 138% growth. The thesis was that hyperscaler graphics processing unit (GPU) demand was outrunning supply, and these three would convert contracted power into booked revenue faster than their peers.

The mid-year report card shows mixed results. One name blew past the bar, one cleared the growth target despite widening losses, and one missed the headline number while quietly rebuilding the business. We graded each on stock performance and whether the company is executing toward the revenue and ARR run-rate that justified the call.

3. IREN: Thesis on the Clock Data center operator IREN is the most uncomfortable name on the scorecard. Q3 FY2026 revenue came in at $144.80 million, a 2.2% year-over-year decline that missed consensus estimates. The triple-digit growth claim did not hold.

Bitcoin mining revenue fell to $111.20 million as hardware was decommissioned, while AI Cloud Services climbed from $7.30 million to $17.30 million to $33.60 million across three quarters. Management anchors its outlook to a $3.70 billion annualized run-rate by year-end 2026, backed by a $3.40 billion five-year Nvidia AI Cloud contract and a $9.70 billion Microsoft partnership.

Shares trade at $54.02, up 43.0% year to date but down 18.9% in the past week. The 247Factor model flags a base-case target of $113.72 with 110.52% upside, though the 4.23 beta reflects volatility. The execution question is whether AI Cloud revenue can offset the mining cliff fast enough to validate that ARR target.

2. CoreWeave: Thesis Intact, Bill Coming Due Cloud computing company CoreWeave delivered on the growth promise. Q1 2026 revenue hit $2.08 billion, up 111.7% year over year and 5.8% above the $1.96 billion consensus. Revenue backlog reached $99.4 billion, including a $21 billion Meta commitment, and active power surpassed 1 GW with a path to more than 8 GW by 2030.

Net loss widened to $740 million, interest expense doubled to $536 million, and capex hit $7.695 billion in a single quarter. Total liabilities reached $50.814 billion, against $55.573 billion in assets. Forward EPS came in at −$1.40, so traditional P/E math does not apply.

The stock reflects ambivalence: trading at $98.45, up 37.5% year to date but down 39.3% over the past year. Nearly two-thirds of surveyed analysts recommend buying shares, and they have a $140.18 mean target price. CEO Michael Intrator called it “the strongest bookings quarter in CoreWeave’s history.” The key question is whether operating leverage can outpace interest expense before the next refinancing window.

1. Nebius: Thesis Confirmed Amsterdam-based Nebius is the clear winner. Q1 2026 revenue reached $399.0 million, up 684% year over year, with the AI Cloud segment producing $389.7 million at 841% year-over-year growth. EPS came in at $2.11, and adjusted EBITDA flipped positive to $129.5 million. Cost of revenue compressed from 49% to 26%.

Management reaffirmed FY2026 revenue guidance of $3.0 billion to $3.4 billion, an ARR target of $7.0 billion to $9.0 billion, and more than 4 GW contracted power by year-end. Remaining performance obligations stand at $33.59 billion, anchored by a $27 billion five-year Meta agreement and a $2 billion Nvidia pre-funded warrant investment.

Shares trade at $220.12, up 163.0% year to date and 318.6% over one year, even after a 15.5% one-week pullback. The 247Factor model carries a $280.62 base-case target with 27.48% upside and 0.9 confidence. CEO Arkady Volozh said: “Our capacity footprint is expanding rapidly, our full-stack cloud platform is world-class from the infrastructure layer all the way up to our inference and agentic capabilities.” The execution question is narrower: can the Pennsylvania, Finland, and Missouri sites energize on schedule to feed the Meta and Microsoft ramps?

One titan is soaring with 684% growth while another stares down a $50 billion debt mountain. This is the brutal reality behind the AI infrastructure hype. The Scorecard Verdict The original premise required triple-digit revenue growth backed by credible run-rate progress. Nebius cleared both bars, with margin expansion as a bonus. CoreWeave delivered the growth and a $99.4 billion backlog, but the funding stack is the active risk. IREN missed the headline number because mining is being deliberately torn down, leaving the AI Cloud ramp to prove itself by year-end. One thesis is confirmed, one is intact but on a debt clock, and one still needs the second-half earnings report to justify the call.

Key Takeaways USAR commissioned Phase 1a of its Oklahoma magnet line to begin NdFeB magnet orders in Q2 2026.USAR's SG&A jumped to $21.2M in Q1 2026 from $7M on legal, hiring and consulting costs.USA Rare Earth posted a 34-cent Q1 loss as R&D rose to $14.2M and product costs neared revenues. USA Rare Earth, Inc. (USAR - Free Report) remains in the early stages of commercial growth and continues to face losses as operations scale. While revenue generation has started following the acquisition of Less Common Metals, higher operating expenses tied to expansion, acquisitions and workforce growth are pressuring the company’s profitability.

In the first quarter of 2026, USAR’s cost of product revenues was $5.59 million, which was 98.1% of total revenues. In the same period, its selling, general and administrative expenses surged to $21.2 million from $7 million in the year-ago quarter due to a rise in legal & consulting costs, higher headcount & recruiting fees, and other costs.

USA Rare Earth’s research and development expenses rose to $14.2 million compared with $1.7 million reported in the year-ago quarter due to an increase in higher employee-related and development costs. As a result, the company reported a loss of 34 cents per share for the quarter.

However, USAR has achieved a key milestone with the commissioning of Phase 1a of its commercial magnet production line at the Stillwater facility in Oklahoma. The development enables USAR to start fulfilling customer orders for sintered neodymium-iron-boron (NdFeB) permanent magnets in the second quarter of 2026.

Although USA Rare Earth is making progress in scaling operations, persistent cost pressures and ongoing losses remain key concerns. The company’s ability to balance growth investments with improving revenues and cost discipline will be key to overcoming profitability pressures.

USAR’s Peer PerformanceAmong its major peers, NioCorp Developments Ltd. (NB - Free Report) is facing cost pressure. In the third quarter of fiscal 2026, NioCorp’s total operating expenses increased significantly on a year-over-year basis due to expenses incurred for the advancement of the Elk Creek Project. Rising costs and expenses, if not controlled, might affect NioCorp Developments’ margin performance.

Its another peer, Rio Tinto Group (RIO - Free Report) , is benefiting from rising copper production, driven by strong operational performance across its assets. However, weather-related disruptions earlier in 2025 affected Rio Tinto’s iron ore volumes. Planned maintenance activities at some copper mining projects temporarily reduced Rio Tinto’s output in 2025, while cost pressures from inflation and higher sustaining capital spending impacted margins.

USAR’s Price Performance, Valuation & EstimatesShares of USAR have gained 232.9% in the past year compared with the industry’s growth of 55.8%.

Image Source: Zacks Investment Research

From a valuation standpoint, USAR is trading at a forward price-to-earnings ratio of negative 85.07X against the industry’s average of 15.76X. USA Rare Earth has a Value Score of F.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for USAR’s 2026 earnings has decreased over the past 60 days.

Image Source: Zacks Investment Research

May 28, 2026 16:30 ET  | Source: USA Rare Earth, Inc.

STILLWATER, Okla., May 28, 2026 (GLOBE NEWSWIRE) -- USA Rare Earth, Inc. (“USAR” or the “Company”), a rare earth, critical minerals and advanced materials company, today announced that Gregory Bowman, Chief Global Policy Officer, has been appointed to the U.S. Department of War’s newly established Science, Technology and Innovation Board (STIB). The STIB is charged with solving complex national security problems for the Secretary of War, the Deputy Secretary of War, the Under Secretaries of War, the Chairman and Vice Chairman of the Joint Chiefs of Staff, and other senior Department officials.

The STIB, which was established in early 2026 following the merger of the Defense Science Board and the Defense Innovation Board, is designed to accelerate the delivery of breakthrough technologies and capabilities to the American warfighter. Mr. Bowman joins a select group of 33 members drawn from government, industry, academia, and the research community.

“Greg’s appointment to the STIB is a recognition of his standing as one of the nation’s foremost voices on national security policy and the defense industrial base,” said Barbara Humpton, Chief Executive Officer of USA Rare Earth. “In an era of intensifying geopolitical threats, the nation is well served when leaders of Greg’s experience lend their judgment to its most pressing security challenges. We congratulate him on this honor and are proud to count him among our colleagues.”

“I am honored to join the Science, Technology and Innovation Board at such a consequential moment for American defense and industrial policy,” said Mr. Bowman. “Strengthening how the nation develops and fields breakthrough technologies and secures critical supply chains is among the most urgent challenges we face. I look forward to supporting the board’s vital mission of delivering decisive capabilities to the American warfighter.”

Disclosure: Mr. Bowman serves on the STIB strictly in his personal capacity and in adherence with all applicable statutory and regulatory requirements. His views and contributions to the STIB are his own. His appointment to this position does not constitute, and should not be construed as, an endorsement of USA Rare Earth or its products, services, or commercial interests by the Department of War, the STIB, or the U.S. Government in any way.

About Greg Bowman

Greg Bowman serves as Chief Global Policy Officer at USA Rare Earth, where he leads the Company’s public policy, corporate affairs, government relations, and strategic communications efforts.

Mr. Bowman brings decades of experience across national security policy, legislation, global strategy, and complex infrastructure and technology programs. Prior to joining USA Rare Earth, he served in senior leadership roles at Siemens Government Technologies, including Chief Corporate Strategy Officer and Senior Vice President, National Security Solutions. Before Siemens, Mr. Bowman served for 26 years in the U.S. Army in senior leadership and legal roles, retiring at the rank of Colonel.

Mr. Bowman received a bachelor’s degree from Longwood University in sociology and pre-law, and his J.D. from the University of Virginia School of Law. He also earned a Master of Military Law and Government Contracting from the U.S. Army Judge Advocate General’s Legal Center & School, and a Master of Military Arts and Sciences from the U.S. Army Command and General Staff College. He previously served on the U.S. Army Science Board and the U.S. Department of Defense Business Board, and currently serves on the Founding Council of PRISM, the Strategic Council of the Silverado Policy Accelerator, and the Board of Directors of Hope for the Warriors.

About USA Rare Earth

USA Rare Earth, Inc. (Nasdaq: USAR) is building a fully integrated rare earth and permanent magnet value chain across the United States, the United Kingdom, France and Brazil. Through its ownership of Less Common Metals (LCM), one of the world’s leading producers of rare earth metals and alloys, its development of magnet manufacturing capacity in Stillwater, Oklahoma, the Pela Ema mine in Brazil (subject to closing the SVG transaction) and the Round Top deposit in Texas, USA Rare Earth operates across the entire value chain from mining to metal-making, alloy production and neodymium magnet manufacturing. USA Rare Earth is establishing a secure, Western-aligned supply of materials essential to the aerospace and defense, semiconductor, data center, physical AI, autonomous systems, mobility, healthcare and industrial sectors.

For more information, visit www.usare.com.

USAR Investor Contact:
J.B. Lowe, CFA
VP, Head of Investor Relations
[email protected]

USAR Media Relations Contact:
Collected Strategies
[email protected]

This planned investment would support the accelerated growth of the French separation, metal, alloy and magnet making ecosystem June 01, 2026 03:00 ET  | Source: USA Rare Earth, Inc.

PARIS, June 01, 2026 (GLOBE NEWSWIRE) -- USA Rare Earth, Inc. (Nasdaq: USAR) (the “Company”), today announced that it intends to expand its metal, alloy and magnet making investment in France. This would build upon the Company’s previously announced French initiatives, which include a Less Common Metals (LCM) rare earth metal and alloy production facility at Lacq, and a strategic investment in Carester SAS (alongside InfraVia Capital Partners) to support allied rare earth processing capacity.

USA Rare Earth’s additional investment in France, which aligns with the Company’s planned agreements with the U.S. Department of Commerce, could exceed approximately €175 million through 2030 and could provide over 300 new jobs in the region. This investment would be in conjunction with French government incentives, such as the C3IV program, and with the potential of additional French government support including debt guarantees and possibly a direct equity investment into the USAR European subsidiary.

Speaking at the Choose France summit in Paris, Barbara Humpton, Chief Executive Officer of USA Rare Earth, confirmed that these strategic initiatives were underway, with magnet making in France as a key goal of the company.

“At USA Rare Earth, we are committed to creating resilient, regional operations as we build out the mine-to-magnet value chain. France is an attractive location, with a strong combination of industrial infrastructure, a re-emerging rare earth processing cluster, skilled workforce, and the policy support to rebuild critical minerals capability,” said Humpton. “We look forward to working closely with the French government and the broader European industrial community to make this a reality.”

Additional strategic investment in this vital French ecosystem would further extend USA Rare Earth’s planned operations in the country and reinforce the critical importance of the Lacq industrial cluster.

About USA Rare Earth, Inc.

USA Rare Earth, Inc. (Nasdaq: USAR) is building a fully integrated rare earth and permanent magnet value chain across the United States, the United Kingdom, France and Brazil. Through its ownership of Less Common Metals (LCM), one of the world’s leading producers of rare earth metals and alloys; its development of magnet manufacturing capacity in Stillwater, Oklahoma; the Pela Ema mine in Brazil (subject to closing the proposed acquisition of Serra Verde Group (“SVG”); and the Round Top deposit in Texas, USA Rare Earth operates across the entire value chain from mining to metal-making, alloy production and neodymium magnet manufacturing. USA Rare Earth is establishing a secure, Western-aligned supply of materials essential to the aerospace and defense, semiconductor, energy, data center, physical AI, mobility, healthcare and industrial sectors.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include those relating to the Company’s plans, intentions, and expectations with respect to potential magnet manufacturing operations in France, the LCM facility at Lacq, and the planned investment in Carester SAS. 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,” “could,” “estimate,” “expect,” “growth,” “intend,” “may,” “might,” “plan,” “potential,” “project,” “propose,” “should,” “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 and potentially inaccurate assumptions that could cause actual results to differ materially from our expectations, including without limitation: the risk that the Company does not proceed with any such plans or investments in France, that the scope, location, timing, structure, or terms differ materially from those currently contemplated, or that required approvals or closing conditions are not obtained or satisfied; risks that the proposed transactions with SVG, Carester SAS and Texas Mineral Resources Corp. may not be consummated on their anticipated timelines or at all; we may not realize the anticipated benefits of our proposed and prior acquisitions, including expected synergies, financial performance, estimated EBITDA and, in the case of SVG, integration of operations, on the anticipated timeline or at all; the ability of our Stillwater magnet manufacturing facility to commence commercial operations on the timing and with the production capacity anticipated or at all; our limited operating history; our ability to commercially extract minerals from the Round Top deposit on our anticipated timeline or at all; risks that we may experience delays, unforeseen expenses, increased capital costs, and other complications in operating our business; our ability to raise necessary capital on acceptable terms or at all; potential dilution to existing stockholders and adverse effect on our stock price if we issue additional common stock or equity-linked securities; the volatility of our stock price; our ability to enter into definitive agreements for the proposed U.S. Government financing, which is subject to conditions precedent and final government approvals, on the anticipated terms or at all and, if executed, to satisfy the milestones and other conditions of such financing, which could impose conditions to access such financing over a period of time; the availability of rare earth oxide, metal feedstock and other materials, utilities (including power and water) and equipment in quantities and prices that allow us to develop and commercially operate our Stillwater facility and other facilities; our ability to meet individual customer specifications and manufacture a consistently high quality product; fluctuations in demand for and prices of our products, including without limitation as a result of dumping, predatory pricing and other tactics by the Company’s competitors or state actors or the overall competitive environment; our ability to achieve positive cash flow or profitability or the ability to access cash flow within our corporate structure due to restrictions contained in our financing agreements; our ability to convert current commercial discussions and/or memorandums of understanding with customers for the sale of our neodymium magnets and other products into definitive orders; geopolitical developments or disruptions, such as changes in the political environment, export/import or environmental policy of the People’s Republic of China, the United States or other countries in which we operate or sell products or otherwise; war, terrorism, natural disasters or public health emergencies; our ability to retain or recruit key personnel; environmental, health and safety regulations; and our ability to comply with requirements for federal, state and local government incentives and financing.

Additional risks and detailed information regarding factors that may cause actual results to differ materially has been and will be included in the Company’s filings with the U.S. Securities and Exchange Commission, including the Company’s most recently filed Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q and subsequent filings. Any forward-looking statements speak only as of the date of this press release (or such other date as is specified in such statements), and the Company undertakes no obligation to update any forward-looking statements as a result of new information or future developments except as required by law.

Investor Contact:
J.B. Lowe, CFA
Head of Investor Relations, USA Rare Earth
[email protected]

Media Contact:
Collected Strategies
[email protected]

As the global race for resource independence accelerates, the domestic rare earth supply chain has become a focal point for long-term investors. Choosing between MP Materials (MP +0.35%) and USA Rare Earth (USAR +0.00%) involves weighing established production against speculative future growth.

MP Materials focuses on scaling its existing mine in California while USA Rare Earth aims to build a new supply chain from scratch in Texas. Both companies seek to reduce global reliance on foreign sources for the essential minerals used in everything from electric vehicle motors to high-tech defense systems.

The case for MP MaterialsMP Materials produces critical minerals at its Mountain Pass facility and serves as a major player in the mining stocks landscape, precisely rare earths. It recently shifted away from selling concentrate to Chinese distributors and now serves clients like Apple (AAPL +0.04%), General Motors (GM 5.21%), and the U.S. Department of Defense (or the Department of War).

In FY 2025, revenue grew 35.1% to nearly $275.5 million. Despite this growth, the company reported a net loss of approximately $85.9 million and, therefore, a negative net margin.

As of its December 2025 balance sheet, the company maintained a current ratio of 7.2x, indicating its ability to cover short-term debt with current assets. Its debt-to-equity ratio of 0.4x compares total debt to shareholders’ equity, indicating a relatively low reliance on borrowed funds. Free cash flow (FCF), calculated as cash from operations minus capital spending, was nearly negative $328.1 million as the firm continues to develop and progress mines and production.

The case for USA Rare EarthUSA Rare Earth is developing a full domestic supply chain from its Round Top project in Texas. The company aims to provide metals and magnets directly to industrial customers.

In FY 2025, revenue reached nearly $1.6 million as the company moved toward its initial operations. However, it recorded a net loss of close to $297.6 million,  reflecting the massive costs associated with building out a mine-to-magnet value chain before commercial production begins.

As of its December 2025 balance sheet, the company reported a debt-to-equity ratio of 0.0x, showing it has no total debt relative to its equity. Its current ratio of 10.2x suggests a strong ability to cover immediate liabilities with existing assets. FCF was negative $86.3 million, representing cash from operations minus capital expenditures.

Risk profile comparisonMP Materials faces risks from volatile commodity prices and a heavy dependency on funding from the U.S. Department of War. It also competes with large international producers such as Shenghe Resources, which may have lower operating costs. Any failure to reach production targets at its 10X Facility could also harm its future financial outlook.

USA Rare Earth is an early-stage company with no history of commercial production, making its future profitability highly uncertain. It relies on third-party feedstock until its own mine is operational and faces competition from established players like Lynas Rare Earths (LYSDY 2.70%). Furthermore, the company requires significant additional capital to complete its facilities, which may be difficult to secure on favorable terms.

Valuation comparisonComparing the Forward P/E and P/S ratio shows that both companies trade at significant premiums to the broader market averages.

MetricMP MaterialsUSA Rare EarthSector BenchmarkForward P/E274.8x148.7x25.7xP/S ratio43.9x1661.9xSector benchmark uses the SPDR XLB sector ETF.
Valuation metrics sourced from Financial Modeling Prep (FMP) and may differ from other data providers.

Rare-earths are vital for several industries and applications, including electronics, semiconductors, electric vehicles, renewable energy technology, medical devices, lasers, and defense systems. Under the leadership of President Donald Trump, the U.S. government is making some sweeping moves to boost the domestic supply of rare earths and reduce dependency on China. 67% of the rare earths consumed in the U.S. are currently imported, with 71% coming from China, according to recent research from The Motley Fool.

Both MP Materials and USA Rare Earth are primary beneficiaries of the government’s push, but they sit at different stages of execution. If I were to buy one stock today, I’d go for MP Materials.

The Mountain Pass is the largest rare-earth mine in the U.S. The government knows this, which is why the Department of War acquired a 15% equity stake in MP Materials last year, becoming its largest shareholder. MP Materials will build a rare-earth magnet manufacturing facility, called the 10X facility. It will have an estimated capacity of 10,000 metric tons, and the government has already committed to buying all magnets produced at 10X for 10 years at a floor price of $110 per kilogram for rare-earth compounds.

That’s not all. The Department of War and MP Materials are also establishing a joint venture in Saudi Arabia to develop a rare-earth refinery.

Backed by the government, MP Materials is building a mine-to-magnet business and is already generating revenues. USA Rare Earth also has the government’s backing, but is technically still a pre-revenue company.

In the first quarter, MP Materials produced record rare-earth oxides, scaled heavy rare-earth separation commissioning activities, and broke ground at 10X. Its revenue surged 49% to $90.1 million.

USA Rare Earth has a significant foothold in heavy rare-earth elements used in military and defense systems, but MP Material is already operating at scale and has secured major commercial supply contracts, including with Apple. I’d bet on this rare-earth stock now for the long term.

USA Rare Earth (NASDAQ:USAR) plans to invest more than approximately EUR175 million in France through 2030, expanding its metal, alloy and magnet-making operations in the country.

The planned investment builds on the company's existing French initiatives, which include a Less Common Metals (LCM) rare earth metal and alloy production facility at Lacq and a strategic investment in Carester SAS alongside InfraVia Capital Partners.

The investment would be made in conjunction with French government incentives, including the C3IV program, with potential additional support through debt guarantees and a possible direct equity investment into the company's European subsidiary.

The planned investment aligns with the company's agreements with the US Department of Commerce and could create more than 300 jobs in the region.

Speaking at the Choose France summit in Paris, CEO Barbara Humpton said the company is committed to building resilient, regional operations as it develops the mine-to-magnet value chain, calling France an attractive location for its industrial infrastructure, skilled workforce and policy support for critical minerals.

USA Rare Earth is building a fully integrated rare earth and permanent magnet value chain across the United States, the United Kingdom, France and Brazil.

Shares of USAR were up over 8% on Monday morning.

Blacksburg facility expected to create about 490 high-skill, high-wage manufacturing jobs and significantly expand the Company’s global mine to magnet value chain

By choosing South Carolina, USA Rare Earth is expected to have access to a robust incentives package including grants, tax credits and exemptions, a highly skilled advanced manufacturing workforce, and confirmed energy delivery to the new facility

Facility is expected to contribute to USAR’s planned domestic capacity of 10,000 metric tons per year of both magnets and heavy rare earth strip-cast, metal and alloy production, aligned with the Company’s business plan and expected government financing

BLACKSBURG, S.C., June 02, 2026 (GLOBE NEWSWIRE) -- USA Rare Earth, Inc. (Nasdaq: USAR) (“USA Rare Earth” or the “Company”), a rare earth, critical minerals and advanced materials company, today announced the selection of Cherokee County, South Carolina, as the site of a new magnet manufacturing and refined metals operation. The project is expected to create about 490 high-skill, high-wage jobs in the Upstate, and will significantly expand domestic production capacity for sintered neodymium-iron-boron (NdFeB) permanent magnets and the refined rare earth metals from which they are made.

To be located in the Bailey Industrial Park in Blacksburg, the state-of-the-art facility will complement the Company’s existing magnet manufacturing facility in Stillwater, Oklahoma, which commissioned its first commercial production line in March 2026. Together, the Stillwater and Blacksburg operations will form the magnet manufacturing centerpiece of USA Rare Earth’s integrated, mine to magnet value chain, which spans the Round Top heavy rare earth mining and processing project in Sierra Blanca, Texas; a separation and processing facility in Wheat Ridge, Colorado; the planned acquisition of the Serra Verde mining and processing operation in Goiás, Brazil; the LCM metal and alloy facility in Cheshire, United Kingdom; and a planned metallization and alloy facility in Lacq, France.

Once online, the Blacksburg facility is targeting production capacity of 6,400 metric tons per annum (tpa) of NdFeB rare earth magnets and 5,000 tpa of strip-cast, metal and alloy. Combined with the planned expansion at the Company’s Stillwater facility, USAR expects total domestic production capacity to reach 10,000 tpa of NdFeB rare earth magnets and 10,000 tpa of heavy rare earth strip-cast, metal and alloy, aligned with the Company’s business plan and expected government financing. Engineering work and equipment procurement for the Blacksburg facility is underway, with site work expected to commence in the coming months and commissioning targeted to begin in 2028.

The Cherokee County selection followed a comprehensive multi-state evaluation in which the Company prioritized access to a robust incentives package across grants, tax credits and exemptions, reliable and affordable power, the availability of a skilled advanced manufacturing workforce, proximity to defense and aerospace customers, and the ability to achieve an accelerated timeline for operational delivery. The site benefits from existing transportation infrastructure along the Interstate 85 corridor, an established advanced manufacturing supply chain across the Upstate, and confirmed energy delivery from Duke Energy.

Magnets and refined metals produced in Blacksburg will support vital needs in the defense, aerospace, semiconductor, medical, AI, energy, and advanced manufacturing industries, which depend on a secure, traceable rare earth value chain across America, its allies and partners.

QUOTES

“Cherokee County is the next critical link in the rare earth and magnet value chain we’re building across the United States, the United Kingdom, Europe and around the globe. South Carolina offered the workforce, the infrastructure and the partners we needed to move quickly. With this investment, we’re bringing home the advanced manufacturing capabilities that America and its allies depend on, from the factory floor to the front lines.”
-USA Rare Earth CEO Barbara Humpton

“South Carolina continues to attract investments that strengthen our economy and create meaningful opportunities for our people. USA Rare Earth’s $1.2 billion investment and the creation of approximately 490 new jobs will have a significant impact on Cherokee County and reinforce our state’s position as a leader in American manufacturing.”
-Gov. Henry McMaster

“USA Rare Earth’s approximately $1.2 billion investment in Cherokee County reflects the state’s strong capabilities in advanced manufacturing and innovation technologies. The Company’s new operation in the Upstate will contribute to South Carolina’s position as a leader in critical sectors.”
-Secretary of Commerce Harry M. Lightsey III

“Two hundred and fifty years ago, Cherokee County helped turn the tide of the Revolutionary War and today we are proud to once again stand on the front lines of American independence by welcoming USA Rare Earth to the Bailey Park. This project strengthens our nation's future by reducing our dependence on China for critical rare earth minerals while bringing jobs, investment and opportunity to Cherokee County.”
-Cherokee County Council Chairman Tim Spencer

“Duke Energy is proud to help bring USA Rare Earth to Cherokee County and strengthen America’s domestic rare earth supply chain. Through our close collaboration with state and local economic development partners, we worked to position this site with the upfront diligence, coordination and energy planning that companies need to move with confidence and speed. As we continue to prioritize reliable power at the lowest possible cost for our customers, we stand ready to welcome more industries like this to call South Carolina home.”
-Duke Energy South Carolina President Tim Pearson

About USA Rare Earth, Inc.

USA Rare Earth, Inc. (Nasdaq: USAR) is building a fully integrated rare earth and permanent magnet value chain across the United States, the United Kingdom, France and Brazil. Through its ownership of Less Common Metals (LCM), one of the world’s leading producers of rare earth metals and alloys, its magnet manufacturing capacity in Stillwater, Oklahoma, the Pela Ema mine in Brazil (subject to closing the Serra Verde Group transaction) and the Round Top deposit in Texas, USA Rare Earth operates across the entire value chain from mining to metal-making, alloy production and neodymium magnet manufacturing. USA Rare Earth is establishing a secure, Western-aligned supply of materials essential to the aerospace and defense, semiconductor, energy, data center, physical AI, mobility, healthcare and industrial sectors. For more information, visit www.usare.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include those relating to the planned Cherokee County, South Carolina facility, expected capital investment, anticipated job creation, expected production capacity and timelines, expected utility and infrastructure support, anticipated end markets and customers, the expected scope of the Company’s integrated value chain, and the Company’s ability to support U.S. Department of Defense requirements, including the January 2027 restriction on Chinese-origin sintered NdFeB magnets in covered defense applications. 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,” “could,” “estimate,” “expect,” “growth,” “intend,” “may,” “might,” “plan,” “potential,” “project,” “propose,” “should,” “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 and potentially inaccurate assumptions that could cause actual results to differ materially from the Company’s expectations, including without limitation: risks associated with permitting, construction, workforce availability, supply chain conditions, customer demand, commodity prices, regulatory and policy developments, financing, and the integration of acquired operations; risks that the proposed transactions with the Serra Verde Group (“SVG”), Carester SAS and Texas Mineral Resources Corp. may not be consummated on their anticipated timelines or at all; the Company may not realize the anticipated benefits of its proposed and prior acquisitions, including expected synergies, financial performance, estimated EBITDA and, in the case of SVG, integration of operations, on the anticipated timeline or at all; the ability of the Company’s Stillwater magnet manufacturing facility to commence commercial operations on the timing and with the production capacity anticipated or at all; the Company’s limited operating history; the Company’s ability to commercially extract minerals from the Round Top deposit on its anticipated timeline or at all; risks that the Company may experience delays, unforeseen expenses, increased capital costs, and other complications in operating its business; the Company’s ability to raise necessary capital on acceptable terms or at all; potential dilution to existing stockholders and adverse effect on the Company’s stock price if the Company issues additional common stock or equity-linked securities; the volatility of the Company’s stock price; the Company’s ability to enter into definitive agreements for the proposed U.S. Government financing, which is subject to conditions precedent and final government approvals, on the anticipated terms or at all and, if executed, to satisfy the milestones and other conditions of such financing, which could impose conditions to access such financing over a period of time; the availability of rare earth oxide, metal feedstock and other materials, utilities (including power and water) and equipment in quantities and prices that allow the Company to develop and commercially operate its Stillwater facility and other facilities; the Company’s ability to meet individual customer specifications and manufacture a consistently high quality product; fluctuations in demand for and prices of the Company’s products, including without limitation as a result of dumping, predatory pricing and other tactics by the Company’s competitors or state actors or the overall competitive environment; the Company’s ability to achieve positive cash flow or profitability or the ability to access cash flow within the Company’s corporate structure due to restrictions contained in the Company’s financing agreements; the Company’s ability to convert current commercial discussions and/or memorandums of understanding with customers for the sale of its neo magnets and other products into definitive orders; geopolitical developments or disruptions, such as changes in the political environment, export/import or environmental policy of the People’s Republic of China, the United States or other countries in which the Company operates or sell products or otherwise; war, terrorism, natural disasters or public health emergencies; the Company’s ability to retain or recruit key personnel; environmental, health and safety regulations; and the Company’s ability to comply with requirements for federal, state and local government incentives and financing.

Additional risks and detailed information regarding factors that may cause actual results to differ materially has been and will be included in the Company’s filings with the U.S. Securities and Exchange Commission, including the Company’s most recently filed Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q and subsequent filings. Any forward-looking statements speak only as of the date of this press release (or such other date as is specified in such statements), and the Company undertakes no obligation to update any forward-looking statements as a result of new information or future developments except as required by law.

Contacts

Investor Relations
JB Lowe, USA Rare Earth, Inc.
[email protected]

Media
Collected Strategies
[email protected]

SOURCE: USA Rare Earth, Inc.

Definitive Agreements Trigger Access to Up to $277 Million in Federal Funding and Up to $1.3 Billion in CHIPS Senior Secured Loan Capacity to advance the only vertically integrated rare earth company in the U.S. across domestic heavy rare earth mining, processing and separation, metal, and magnet production 

Combined with the $1.5 Billion PIPE Closed in January 2026 and Previous Capital Raises, Brings Total Committed Capital Supporting USA Rare Earth’s Growth Plan to Approximately $3.5 Billion

Advances USA Rare Earth as a Global Leader in Rare Earths that is Developing one of the Largest Integrated Mine-to-Magnet Value Chains with Significant Runway for Future Value Creation

STILLWATER, Okla., June 03, 2026 (GLOBE NEWSWIRE) -- USA Rare Earth, Inc. (Nasdaq: USAR) (“USAR”, “USA Rare Earth”, or the “Company”), today announced the execution of definitive agreements with the U.S. Department of Commerce, unlocking access to up to $1.6 billion in funding under the Department of Commerce’s CHIPS Program.1 The definitive agreements comprise up to $277 million in federal funding and up to $1.3 billion in senior secured loan capacity under the CHIPS Act, with disbursements tied to the achievement of project milestones.

Prior to the definitive documents, USA Rare Earth closed $1.5 billion in private capital raise, signed certain strategic customer agreements, and advanced Round Top.

The definitive agreements establish the framework under which USAR will continue to build out its integrated heavy rare earth mining, metal, and magnet global value chain. Together with the $1.5 billion private capital raise completed in January 2026 and previous capital raises, the agreements bring total committed capital supporting USAR’s growth plan to approximately $3.5 billion.2

“This partnership with the U.S. Government is the largest of its kind in our industry and provides the necessary capital to build the only global platform across light and heavy rare earth mining and processing, metal and alloy making, as well as magnet manufacturing - for the benefit of the United States and its allies,” said Michael Blitzer, Chairman of the Board of USA Rare Earth. “This landmark collaboration reflects the scale and urgency of securing critical supply chains for technologies essential to long-term economic growth. We are grateful for the leadership shown across government in moving with speed and conviction. Our focus now is execution and generating industry-leading returns for both our shareholders and the U.S. Government.”

“Today marks the moment we move from intent to execution alongside the United States Government,” said Barbara Humpton, Chief Executive Officer of USA Rare Earth. “With the definitive agreements, USAR is positioned to accelerate the building of a global mine-to-magnet value chain that will supply the materials, metals, and magnets that industrial customers depend upon. From defense, aerospace, semiconductors, and data centers to physical AI, energy, mobility, and healthcare, our integrated value chain is designed to power the technology and innovations of the 21st Century. We look forward to our partnership with the United States Government.”

"The CHIPS Program’s $277 million funding and $1.3 billion loan will be instrumental for the construction of a domestic integrated supply chain for critical minerals and NdFeB magnets which are essential for semiconductor chip manufacturing,” said Bill Frauenhofer, Executive Director of Semiconductor Investment and Innovation. “Yttrium, gallium, dysprosium and the other 9 critical and strategic minerals that will be mined in Texas, along with the domestic metal and magnet production, provides United States semiconductor companies a reliable domestic source and removes choke points in their manufacturing supply chain that enable chemical vapor deposition, high-k materials, compound semiconductors, dopants and other foundational applications.”

What the Definitive Agreements Enable. The definitive agreements support execution of USAR’s integrated value chain across each layer of the production system, with a targeted 2030 operating profile that, when delivered, is expected to represent the largest domestic heavy rare earth and critical mineral mining, processing and separation, metal making, and magnet production platform in the United States and the establishment of the global leader in rare earths. Specifically, the agreements support:

Development of the Round Top heavy rare earth and critical mineral deposit in Hudspeth County, Texas, targeted to begin commercial production in 2028;Processing and separation of the output from the Round Top Project, including heavy rare earth element and critical mineral oxides and concentrates — including dysprosium, terbium, yttrium, gadolinium, hafnium, erbium, thulium, lutetium, ytterbium, holmium, gallium, and zirconium — securing domestic access to 12 critical minerals and rare earth elements;Reshoring of 10,000 tons per annum (tpa) of heavy rare earth element metal- and alloy-making and strip-casting capacity through USAR’s subsidiary Less Common Metals (LCM), which are capabilities that do not currently exist in the United States; andScaling of neodymium-iron-boron (NdFeB) magnet manufacturing capacity in Stillwater, Oklahoma and Blacksburg, South Carolina to 10,000 tpa. A Partnership at the Scale of the National Challenge. Rare earth elements and permanent magnets are foundational inputs to the technologies that underpin American economic and national security. Today, the United States is structurally dependent on foreign supplies (and in many categories a single-source) for materials that are essential to modern technology and global security.

The definitive agreements between USAR and the Department of Commerce are structured to close that gap. The U.S. Government’s funding is tied to project milestones aligned with USAR’s build schedule and creates a structure that directly aligns with taxpayer returns and the objectives of institutional investors.

Transaction Overview.

The definitive agreements with the Department of Commerce’s CHIPS Program provide access to up to $1.6 billion, comprising up to $277 million in federal funding and up to $1.3 billion in senior secured loan capacity under the CHIPS Act.USAR will issue to the Department of Commerce 16.1 million shares of common stock and approximately 17.6 million warrants.Funding will be disbursed in phases, tied to the Company’s achievement of project milestones, and is structured to reimburse capital expenditures incurred in executing USAR’s business plan.Combined with the $1.5 billion common stock PIPE that closed in January 2026 and previous capital raises, total committed capital to support USAR’s growth plan stands at approximately $3.5 billion.2 1 Funding amounts represent maximum available access under the definitive agreements. Actual disbursements are subject to the Company’s achievement of project milestones and other conditions set forth in the definitive agreements.
2 Approximate total committed capital comprises approximately $1.5 billion in private capital raised through the PIPE transaction that closed on January 28, 2026, previous capital raises, and up to $1.6 billion in U.S. Department of Commerce federal funding and CHIPS Act senior secured loan capacity under the definitive agreements.

Transaction Advisors

Latham & Watkins LLP acted as legal counsel and Moelis & Company LLC acted as exclusive financial advisor to USA Rare Earth in structuring and executing its agreements with the U.S. Government.

About USA Rare Earth

USA Rare Earth, Inc. (Nasdaq: USAR) is building a fully integrated rare earth and permanent magnet value chain across the United States, the United Kingdom, France and Brazil. Through its ownership of Less Common Metals (LCM), one of the world’s leading producers of rare earth metals and alloys, its magnet manufacturing capacity in Stillwater, Oklahoma, the Pela Ema mine in Brazil (subject to closing the Serra Verde Group transaction) and the Round Top deposit in Texas, USA Rare Earth operates across the entire value chain from mining to metal-making, alloy production and neodymium magnet manufacturing. USA Rare Earth is establishing a secure, Western-aligned supply of materials essential to the aerospace and defense, semiconductor, energy, data center, physical AI, mobility, healthcare and industrial sectors. For more information, visit www.usare.com.

Forward-Looking Statements

This press release contains “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. These statements include those relating to the definitive agreement with the U.S. Department of Commerce and its expected benefits, including the anticipated milestones, conditions precedent, timing of disbursements, and expected funding amounts; the issuance of common stock and warrants to the U.S. Department of Commerce and the potential dilutive impact of such issuances on existing stockholders; the Company’s investment plans, including the development of the Round Top deposit, the development and expansion of processing and separation facilities, the development and expansion of metal-making and strip-casting facilities, and the development and expansion of the magnet manufacturing facility in Stillwater, Oklahoma; the Company’s strategic supply and customer agreements; the Company’s plans for and prospects of its announced acquisitions, investments, and other business development activities, including the announced Serra Verde Group transaction; and projected operating results and 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 and potentially inaccurate assumptions that could cause actual results to differ materially from the Company’s expectations, including without limitation: the ability of USA Rare Earth to satisfy the conditions precedent and other milestone-based requirements of the definitive agreement on the anticipated terms or at all; the potential dilution to existing stockholders and adverse effect on the Company’s stock price resulting from the issuance of common stock and warrants to the U.S. Department of Commerce or other issuances of common stock or equity-linked securities; the Company’s ability to commercially extract minerals from the Round Top deposit on the anticipated timeline or at all; the Company’s ability to develop its processing, separation, metal-making, strip-casting, and magnet manufacturing facilities on the anticipated timeline or at all; the Company’s ability to raise additional capital on acceptable terms or at all; the volatility of the Company’s stock price; risks that the proposed transactions with the Serra Verde Group, Carester SAS and Texas Mineral Resources Corp. may not be consummated on their anticipated timelines or at all; the Company may not realize the anticipated benefits of its proposed and prior acquisitions, including expected synergies, financial performance, estimated EBITDA and, in the case of the Serra Verde Group, integration of operations, on the anticipated timeline or at all; the ability of the Company’s Stillwater magnet manufacturing facility to commence commercial operations on the timing and with the production capacity anticipated or at all; the Company’s limited operating history; risks that the Company may experience delays, unforeseen expenses, increased capital costs, and other complications in operating its business; the availability of rare earth oxide, metal feedstock and other materials, utilities (including power and water) and equipment in quantities and prices that allow the Company to develop and commercially operate its Stillwater facility and other facilities; the Company’s ability to meet individual customer specifications and manufacture a consistently high quality product; fluctuations in demand for and prices of the Company’s products, including without limitation as a result of dumping, predatory pricing and other tactics by the Company’s competitors or state actors or the overall competitive environment; the Company’s ability to achieve positive cash flow or profitability or the ability to access cash flow within the Company’s corporate structure due to restrictions contained in the Company’s financing agreements; the Company’s ability to convert current commercial discussions and/or memorandums of understanding with customers for the sale of its neo magnets and other products into definitive orders; geopolitical developments or disruptions, such as changes in the political environment, export/import or environmental policy of the People’s Republic of China, the United States or other countries in which the Company operates or sells products or otherwise; war, terrorism, natural disasters or public health emergencies; the Company’s ability to retain or recruit key personnel; environmental, health and safety regulations; and the Company’s ability to comply with requirements for federal, state and local government incentives and financing.

Additional risks and detailed information regarding the factors that may cause actual results to differ materially has been and will be included in the Company’s filings with the SEC, including the Company’s most recently filed Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q and subsequent filings. Any forward-looking statements speak only as of the date of this press release (or such other date as is specified in such statement), and the Company undertakes no obligation to update any forward-looking statements as a result of new information or future developments except as required by law.

Contacts

Investor Relations

J.B. Lowe, VP, Investor Relations, USA Rare Earth — [email protected]

Media Relations

Dan Moore / Scott Bisang, Collected Strategies — [email protected]

Key Takeaways USA Rare Earth gained access to up to $1.6 billion in CHIPS Program funding and loan support.USAR now has about $3.5 billion in committed capital after a January 2026 private raise.USAR plans to advance the Round Top project and expand U.S. processing and magnet facilities. USA Rare Earth, Inc. (USAR - Free Report) has strengthened its financial position after securing access to up to $1.6 billion in government-backed funding under the CHIPS Program from the U.S. Department of Commerce. The package includes up to $277 million in federal funding and up to $1.3 billion in loan support as the company advances key development milestones.

The funding is expected to support USA Rare Earth expand its operations across the rare earth supply chain, including mining, processing, metal production and magnet manufacturing. Together with the $1.5 billion private capital raise completed in January 2026 and earlier fundraising efforts, the company now has about $3.5 billion in committed capital. USAR plans to use the capital to advance mining activities, expand processing capabilities and increase production of rare earth magnets in the United States.

A major focus of the investment is the development of the Round Top project in Texas, which is expected to begin commercial production in 2028. The funding will also support facilities for processing rare earth materials, producing metals and alloys, and increasing magnet manufacturing capacity in Oklahoma and South Carolina.

Also in May 2026, USAR was selected to secure a maximum of $19.3 million in funding from the U.S. Department of Energy (DOE). The funding will help advance the development of rare earth element (REE) processing capabilities in the United States. The funding is subject to final approval.

Snapshot of USAR's PeersAmong its major peers, MP Materials Corp. (MP - Free Report) has received federal support to strengthen rare earth processing and magnet manufacturing in the United States. MP Materials has been expanding domestic production capabilities to support industries such as electric vehicles, renewable energy, electronics and defense. These efforts by MP Materials are aimed at reducing dependence on overseas rare earth supply chains and improving supply security.

Energy Fuels Inc. (UUUU - Free Report) has been expanding its rare earth processing efforts as part of a strategy focused on critical minerals. Energy Fuels is working to strengthen domestic and North American supply capabilities for materials used in clean energy, technology and defense industries. These initiatives reflect growing efforts to build a more secure and diversified critical minerals supply chain.

USAR’s Price Performance, Valuation & EstimatesShares of USAR have gained 58.3% in the past six months compared with the industry’s growth of 32.5%.

Image Source: Zacks Investment Research

From a valuation standpoint, USAR is trading at a forward price-to-earnings ratio of negative 83.20X against the industry’s average of 15.69X. USA Rare Earth has a Value Score of F.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for USAR’s 2026 earnings has decreased over the past 60 days.

Image Source: Zacks Investment Research