Evolution Metals Reaffirms FY2027 Revenue Outlook and Bids for U.S. Army Rare Earth Magnet Contract
Evolution Metals & Technologies Corp. (EMAT) reaffirmed its fiscal 2027 revenue guidance of $400 million to $460 million while highlighting key commercial milestones across its rare earth magnet business. The company confirmed that seven of its eight sintered neodymium-iron-boron magnet grades have received customer certification. It also maintained its fiscal 2026 revenue guidance of $10 million to $11 million.
The eight magnet grades cover an estimated 75% of global revenue for sintered neodymium-iron-boron magnets. By prioritizing high-temperature grades used in electric vehicles, defense systems, and aerospace, the company focuses on high-value industry applications. To support market demand, equipment shipments are arriving at its Pohang, South Korea facility to lift annual plant capacity above 10,000 metric tons.
Looking ahead, the company plans to respond to a U.S. Army request for rare earth magnet suppliers due on October 28, 2026. It also intends to acquire equipment by mid-2027 to start producing samarium cobalt magnets, positioning itself ahead of new U.S. defense procurement rules that restrict non-compliant sourcing starting in 2027.
Key points
- Evolution Metals & Technologies Corp. (EMAT) reaffirmed fiscal 2027 revenue guidance of $400 million to $460 million.
- Seven of the company's eight sintered NdFeB rare earth magnet grades have achieved customer certification.
- Equipment deliveries to Pohang, South Korea are expected to expand total annual production capacity beyond 10,000 metric tons.
- The company will submit a response to a U.S. Army sources sought notice for rare earth magnets by October 28, 2026.
- Equipment acquisitions for military-grade samarium cobalt magnet production are planned for mid-2027.
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What is the fiscal 2027 revenue guidance for Evolution Metals?
Evolution Metals & Technologies Corp. reaffirmed its fiscal 2027 revenue guidance of $400 million to $460 million, alongside fiscal 2026 guidance of $10 million to $11 million.
Why is Evolution Metals expanding its magnet production in South Korea?
The company is adding equipment in Pohang to scale annual capacity past 10,000 metric tons and meet customer demand across eight sintered magnet grades.
How is Evolution Metals involved with U.S. military supply chains?
Evolution Metals plans to respond to a U.S. Army sources sought notice for rare earth magnets and start acquiring equipment to produce defense-grade samarium cobalt magnets by mid-2027.