NASDAQ$TMC

Tmc The Metals Co Inc · Q3 2025 earnings

Q3 2025 earnings · · After market close · Investor relations

Briefing

TMC the metals company reported Q3 2025, net loss of $184.4M.

For Q3 2025, TMC the metals company reported a net loss of $184.4M. Management discusses segment performance, capital allocation, and macro risks in the quarterly filing.

  • Net loss $184.4M.
  • TMC the metals company MD&A covers liquidity, credit, and operating priorities.
  • TMC the metals company MD&A covers liquidity, credit, and operating priorities.

Headline financials

Total Revenue

$0.00

Previous: $0.00
EPS (adj)

-$0.46

Previous: -$0.06-666.7%
Net Loss Per Share

-$0.46

Previous: -$0.06-666.7%
Nauru & Tonga Warrant Costs

$4.98M

No prior period
Change in Fair Value of Royalty Liability

$131M

No prior period
General and administrative expenses

$45.7M

Previous: $8.15M+461.1%
Change in fair value of warrant liability

-$3.85M

Previous: -$1.05M-265.5%
Exploration and evaluation expenses

$9.63M

Previous: $11.8M-18.5%
Net Income

-$184M

Previous: -$20.5M-799.5%
Operating Income

-$55.4M

Previous: -$20M-177.3%

Revenue & EPS history

Tmc · Revenue · Quarterly

$0

Q3 2025

Forward guidance

Growth companies balance scaling revenue with investment spend and path to profitability.

Tailwinds

  • Contract wins and backlog.
  • Operating leverage as scale builds.
  • Strategic partnerships.

Headwinds

  • Execution and timing risk.
  • Capital intensity.
  • Macro demand volatility.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q3 2025

Historical avgQ3 2025

+0.3%

Avg return

Earnings day

+1.2%

Avg return

5 days after

+0.8%

Avg return

30 days after

45%

9 / 20 earnings

Positive

+31.8%

Q2 2023

Best reaction

-24.5%

Q4 2021

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q4 2026-7.6%-10.5%-4.7%
Q3 2025-1.6%+3.5%+28.4%
Q2 2025-9.4%-13.7%+2.0%
Q1 2025+10.0%+49.5%+45.2%
Q4 2024+16.9%+6.0%+79.5%
Q3 2024+4.0%-4.4%-16.3%
Q2 2024+17.0%+11.7%+0.0%
Q1 2024+0.0%-5.5%-3.4%
Q4 2023-17.2%-12.3%-1.8%
Q3 2023-5.7%+5.7%+5.7%
Q2 2023+31.8%+9.1%+9.1%
Q1 2023-5.0%-5.3%+17.7%
Q4 2022-5.4%-16.9%+5.6%
Q3 2022-6.9%-8.8%-20.7%
Q2 2022+7.0%-11.5%+0.0%
Q1 2022-13.6%-4.8%-4.8%
Q4 2021-24.5%-12.3%-6.4%
Q1 2021+6.6%+17.8%-42.9%
Q4 2020+6.6%+17.8%-42.9%
Q3 2021+1.8%+8.6%-34.2%

Discussion

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