TMC the metals company Inc. reported a net loss of $184.5 million and an operating loss of $55.4 million for the third quarter of 2025. The results were significantly impacted by non-cash and non-recurring items, including share-based compensation, fair value changes in royalty and warrant liabilities, and warrant costs. The company ended the quarter with $115.6 million in cash and highlighted progress in its Pre-Feasibility Study and regulatory advancements for deep-sea mineral recovery.
Net loss for Q3 2025 was $184.5 million, primarily due to non-cash and non-recurring items.
Operating loss for the quarter stood at $55.4 million.
Cash and cash equivalents totaled $115.6 million at the end of the quarter.
Net loss per share was $0.46 for Q3 2025.
TMC expects to commence commercial production in the fourth quarter of 2027, contingent on receiving a commercial recovery permit. The company believes its current cash balance will be sufficient to cover working capital and capital expenditure commitments for at least the next twelve months.
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