Evolution Metals reports $1.6 million Q2 revenue
- Evolution Metals reported Q2 2026 revenue of $1.6 million, versus no revenue a year earlier, while its net loss narrowed to $11.9 million.
- Evolution Metals shares were up 33.2% at $3.03 in pre-market trading following the results.
- The company said it is targeting about 10,000 metric tons of annual rare earth magnet capacity by the end of 2026.
Evolution Metals & Technologies (NASDAQ:EMAT) reported Q2 2026 revenue of $1.6 million and a $0.1 million gross loss as it expanded its non-China rare earth magnet operations.
Revenue compared with none in Q2 2025, while net loss narrowed to $11.9 million from $40.9 million and adjusted net loss was $13.6 million.
The company qualified six NdFeB magnet grades with two Tier-1 electronics customers, received five metric tons of non-China NdPr metal and secured a $100 million Yorkville convertible facility.
Following the announcement, Evolution Metals & Technologies' share price was up 33.2% at $3.03 in pre-market trading.
Evolution Metals has binding ULVAC contracts covering 13 sintered magnet production machines scheduled for November 2026 delivery, which the company expects will support about 10,000 metric tons of annual capacity.
The company has issued approximately $25.8 million under its Yorkville facility and recently appointed magnet specialist Kenji Konishi and retired four-star General Thomas A. Bussiere to senior leadership and board roles.
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