Evolution Metals forecasts $400M-$460M in fiscal 2027 revenue

Evolution Metals & Technologies Corp. (Nasdaq: EMAT) issued initial revenue guidance of $5 million to $8 million for fiscal year 2026 and $400 million to $460 million for fiscal year 2027, according to a company statement.

The projected increase is tied to a planned expansion of rare earth magnet production capacity at its facility in Pohang, Republic of Korea. The company has placed binding purchase orders for 13 additional ULVAC sintered magnet production machines, scheduled for delivery and installation in November 2026. The equipment is expected to raise annual production capacity from approximately 1,000 metric tons to approximately 10,000 metric tons, including approximately 6,000 metric tons of high-performance sintered NdFeB magnets.

Supporting infrastructure for the Pohang expansion includes agreed terms with Korea Electric Power Corporation to increase electrical capacity from 130 megawatts to approximately 750 megawatts, approximately 1.3 million square feet of adjacent land to be acquired from the Pohang City Government, and conditional approval of an approximately $20.7 million grant from Pohang City and Gyeongbuk Province.

The fiscal 2027 guidance range reflects anticipated production ramp utilization rather than full capacity utilization. The outlook incorporates assumptions on customer conversion, feedstock availability, working capital, product mix, pricing, and shipment timing, and is not based on contracted volumes.

The company noted that a DFARS restriction taking effect January 1, 2027, will extend mine-to-magnet supply chain sourcing requirements for neodymium-iron-boron magnets used in the U.S. defense industrial base. EM&T states it has secured non-China NdPr metal through an agreement with Senri Trading Co., Ltd., sourced from SRE Vietnam, and has received its first shipment under that arrangement.

Chief Financial Officer Christopher Clower stated the guidance ranges reflect demand and operating assumptions the company can reasonably incorporate today, including the pace of customer conversion and feedstock availability, adding that the company intends to update the market as visibility improves.

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