Business
The Metals Company Announces Third Quarter 2025 Corporate Update
NEW YORK, Nov. 13, 2025 (GLOBE NEWSWIRE) -- TMC the metals company Inc. (Nasdaq: TMC) (“TMC” or the “Company”), a leading developer of the world’s largest
About this update from Tmc The Metals Company Inc.
[{"type":"text","content":"NEW YORK, Nov. 13, 2025 (GLOBE NEWSWIRE) -- TMC the metals company Inc. (Nasdaq: TMC) (“TMC” or the “Company”), a leading developer of the world’s largest resource of critical metals essential to energy, defense, manufacturing and infrastructure, today provided a corporate update and third quarter results for the period ending September 30, 2025. Q3 2025 Financial Highlights Total cash of approximately $115.6 million at September 30, 2025$11.5 million cash used in operations for the quarter ended September 30, 2025Operating loss of $55.4 million, net loss of $184.5 million and net loss per share of $0.46 for the quarter ended September 30, 2025. During the quarter, results were primarily affected by non-cash and non-recurring items, including share-based compensation impacted by one-time grants, fair value changes in the royalty and warrant liabilities, and the recognition of warrant costs associated with updated sponsorship agreements. TMC Chairman and CEO Gerard Barron, commented: “The completion of our Pre-Feasibility Study and Initial Assessment comes amid a surge of public and private investment into critical minerals, energy and defense supply chains. These studies mark a major milestone for TMC, providing the foundation for the strategic and policy engagements now taking shape around this once-in-a-generation opportunity. We come to these engagements from a position of strength, with $121 million of cash currently on the balance sheet following warrant exercises after quarter end and total liquidity today of $165 million, including undrawn credit facilities—so we’ve no need to come to the public markets anytime soon. Despite the recent U.S. government shutdown, we’ve continued to see clear signals of support for our vision of responsibly unlocking critical minerals from the deep sea. I’m encouraged by reports that NOAA’s proposed consolidated application rule is now under White House review — a measure that would streamline and consolidate the seabed mineral exploration and commercial recovery permitting process, bringing greater regulatory clarity to this industry. And with last week’s announcement by the USGS adding copper to the nation’s list of critical minerals, all four of our metals are now officially recognized as critical to the U.S. economy and national security. Onshore, our development team continues to i...