Earnings Releases·Nov 12, 2026, 4:07 PM ET

TMC the metals company Inc. — Third Quarter 2026 Earnings Summary

Reported a net loss of $28.4 million ($0.06 per share) for Q3 2026, a significant improvement from $184.5 million ($0.46 per share) in the prior year period, driven by a $32.7 million reduction in share-based compensation.
Maintains a liquidity position of approximately $123 million with no financial debt, sufficient to fund working capital and capital expenditure commitments for at least the next twelve months.
Advances a capital-light strategy with Allseas and Mariana Minerals to enable commercial operations upon permit grant, targeting steady-state production of 12 million wet tonnes per annum.
Anticipates NOAA's final certification determination for the USA-A application by mid-December 2026, with commercial recovery permits expected prior to the targeted Q4 2027 offshore commissioning.
Plans to defer further capital market transactions until U.S. government funding processes for the Brownsville processing facility are completed.