Evolution Metals & Technologies posted a GAAP net loss of USD 11.9 million, or USD 0.02 a share, for Q2 2026.
GAAP net loss narrowed from USD 40.9 million a year earlier; adjusted net loss (non-GAAP) widened to USD 13.6 million from USD 7.4 million.
Revenue was USD 1.6 million, swinging from no revenue a year earlier; gross loss was USD 115,000.
SG&A expenses climbed to USD 12.1 million from USD 2.9 million, reflecting subsidiary consolidation and public-company, transaction and integration costs.
Management reiterated plans to reach about 10,000 metric tons of annual magnet capacity by end-2026, with ULVAC equipment slated for November delivery.
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