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Mar 31, 2022
Tmc Q1 2022 Earnings Report
TMC reported financial results for the first quarter ending March 31, 2022.
Key Takeaways
TMC reported a net loss of $21.1 million for Q1 2022, with cash holdings of $69.0 million and no debt.
Pilot nodule collection system successfully tested in the deep sea.
Business collaboration with Epsilon Carbon announced for potential nodule processing plant in India.
Net loss for the first quarter of 2022 was $21.1 million, or $0.09 per share.
Cash on hand is believed to be sufficient to meet working capital and capital expenditure requirements for at least the next twelve months.
Tmc
Tmc
Forward Guidance
The company did not provide specific forward guidance but expressed confidence in meeting working capital and capital expenditure requirements for at least the next twelve months.