Key Takeaways MP Materials posted operating losses for eight quarters due to escalating costs.Cost of sales nearly doubled in 2024 and rose 29% in early 2025.SG&A expenses climbed with workforce growth, adding pressure to margins.MP Materials Corp. (MP) has reported operating losses and negative operating margins for consecutive eight quarters, due to escalating costs. In 2024, the company’s cost of sales nearly doubled to $192.6 million from $92.7 million in 2023. Costs rose to around 94% of revenues in 20 ...