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Mar 31, 2025
Tmc Q1 2025 Earnings Report
TMC reported a net loss of $20.6 million in Q1 2025, reflecting continued investment in exploration and administrative activities.
Key Takeaways
TMC the metals company Inc. incurred a net loss of $20,588,000 or $0.06 per share for Q1 2025. Cash used in operations totaled $9,347,000 and the company ended the quarter with $2,346,000 in cash. The reported loss reflects ongoing exploration, share-based compensation, and general administrative expenses.
Net loss for Q1 2025 was $20,588,000 or $0.06 per share.
Operating loss totaled $18,015,000 driven by exploration and administrative expenses.
Cash used in operations was $9,347,000, leaving $2,346,000 in cash at quarter-end.
TMC raised $10,562,000 from equity offerings during the quarter to support operations.
Forward Guidance
TMC expects upcoming U.S. regulatory actions and the completion of its Pre-Feasibility Study to support its path to commercial mineral recovery and long-term valuation clarity.
Positive Outlook
- Submitted first-ever U.S. application for commercial recovery of deep-sea minerals.
- Raised $37 million through a strategic equity offering with prominent investors.
- PAMCO smelting trials validated scalability of nodule processing.
- Expected completion of Pre-Feasibility Study next quarter.
- Continued alignment with U.S. government to expedite permitting processes.
Challenges Ahead
- Operating expenses remain elevated due to development activities.
- General and administrative costs increased YoY to $8.5 million.
- Short-term debt of $10 million persists on balance sheet.
- Share-based compensation and amortization costs impact profitability.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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