--- title: "TMC the Metals | 8-K: FY2026 Q1 Revenue: USD 0" type: "News" locale: "en" url: "https://longbridge.com/en/news/286463774.md" datetime: "2026-05-14T20:30:39.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286463774.md) - [en](https://longbridge.com/en/news/286463774.md) - [zh-HK](https://longbridge.com/zh-HK/news/286463774.md) --- # TMC the Metals | 8-K: FY2026 Q1 Revenue: USD 0 Revenue: As of FY2026 Q1, the actual value is USD 0. EPS: As of FY2026 Q1, the actual value is USD -0.05, meeting the estimate of USD -0.05. EBIT: As of FY2026 Q1, the actual value is USD -34.45 M. ### Financial Highlights (Q1 2026) #### Current Liquidity TMC the metals company Inc. had approximately $164 million in current liquidity from cash on hand and credit facilities as of March 31, 2026. #### Cash Used in Operations The company used $0.6 million in cash from operations for the quarter ended March 31, 2026. #### Net Loss The net loss was $20.6 million for the quarter ended March 31, 2026, which was comparable to the $20.6 million net loss for the quarter ended March 31, 2025. #### Net Loss Per Share The net loss per share was $0.05 for the quarter ended March 31, 2026, compared to $0.06 per share for the same period in 2025. #### Exploration and Evaluation Expenses These expenses increased to $13.3 million for Q1 2026, up from $9.5 million for Q1 2025. #### General and Administrative Expenses These expenses rose to $20.7 million for Q1 2026, compared to $8.5 million for Q1 2025, primarily due to higher amortization of share-based compensation and personnel costs. #### Operating Loss The operating loss was - $33,982 thousand for the quarter ended March 31, 2026, compared to - $18,015 thousand for the same period in 2025. #### Equity-Accounted Investment Loss This increased significantly to - $2,998 thousand for Q1 2026 from - $35 thousand in Q1 2025. #### Gain on Dilution of Investment TMC the metals company Inc. reported a gain of - $4,602 thousand on dilution of investment for Q1 2026, with no comparable figure in Q1 2025. #### Change in Fair Value of Warrant Liability The change in fair value resulted in a gain of - $10,662 thousand for Q1 2026, contrasting with a loss of $441 thousand in Q1 2025. #### Foreign Exchange Movement A foreign exchange gain of - $690 thousand was recorded in Q1 2026, compared to a loss of $1,095 thousand in Q1 2025. #### Interest Income Interest income was - $1,136 thousand for Q1 2026, an increase from - $19 thousand in Q1 2025. #### Fees and Interest on Borrowings and Credit Facilities These decreased to $665 thousand for Q1 2026 from $1,021 thousand in Q1 2025. #### Tax Expense Tax expense for Q1 2026 was $44 thousand, compared to $0 in Q1 2025. ### Cash Flow #### Net Cash Used in Operating Activities For the three months ended March 31, 2026, net cash used in operating activities was - $615 thousand, a reduction from - $9,347 thousand for the same period in 2025. #### Net Cash Used in Investing Activities Net cash used in investing activities was - $35 thousand for Q1 2026, compared to - $70 thousand for Q1 2025. #### Net Cash Provided by Financing Activities Net cash provided by financing activities was $2,719 thousand for Q1 2026, down from $8,293 thousand for Q1 2025. #### Cash Balance The cash balance at the end of the period was $119,682 thousand for Q1 2026, an increase from $2,346 thousand in Q1 2025. ### Operational Metrics #### Commercial Nodule Collection System The commercial system, operated by Allseas, is expected to have a nameplate production capacity of 3.0 million wet tonnes per annum. System commissioning is targeted to begin in Q4 2027, subject to regulatory approvals. #### TMC USA A Project Area The commercial recovery area for TMC USA A has increased from approximately 25,000 km2 to 65,000 km2, with an estimated resource of 619 million tonnes (Mt) of wet nodules and a potential exploration upside of an additional 200 Mt. #### The Metals Royalty Co. (TMCR) TMC the metals company Inc. holds approximately 25% of TMCR’s outstanding equity, and TMCR has a 2.0% Gross Overriding Royalty (GORR) on the NORI area. TMC retains the right to repurchase up to 75% of the NORI Royalty, with a remaining GORR of 0.5% if both repurchase transactions are executed. #### Environmental Data Submission Subsidiaries Nauru Ocean Resources Inc. (“NORI”) and Tonga Offshore Mining Ltd. (“TOML”) submitted extensive environmental datasets to the International Seabed Authority’s DeepData database, including data from 777 equipment deployments and over 4,800 environmental samples. ### Outlook / Guidance TMC the metals company Inc. anticipates that its total liquidity will be sufficient to meet working capital and capital expenditure commitments for at least the next twelve months. The company expects the NOAA regulatory process for the consolidated exploration license and commercial recovery permit to conclude before the end of Q1 2027. Furthermore, TMC the metals company Inc. is optimizing future system configurations to materially reduce unit costs and improve offshore productivity over time, supporting increasingly constructive discussions around project-level financing opportunities. ### Related Stocks - [TMC.US](https://longbridge.com/en/quote/TMC.US.md) ## Related News & Research - [The Home Depot Announces First Quarter Fiscal 2026 Results; Reaffirms Fiscal 2026 Guidance | HD Stock News](https://longbridge.com/en/news/286890512.md) - [ONWARD Medical to Announce First Quarter 2026 Results on May 26, 2026 | ONWRY Stock News](https://longbridge.com/en/news/286858298.md) - [Correction: NextNRG to Host First Quarter 2026 Financial Results Conference Call on May 18, 2026 at 9:00 a.m. ET | NXXT Stock News](https://longbridge.com/en/news/286673001.md) - [Keysight Technologies Reports Second Quarter 2026 Results | KEYS Stock News](https://longbridge.com/en/news/286959830.md) - [Abaxx to Launch Silver Singapore Futures on May 22, 2026 | ABXXF Stock News](https://longbridge.com/en/news/286762247.md)