TMC the metals company second quarter loss of $0.14 per share misses estimates on Allseas settlement

TMC the metals company Inc. reported a net loss of $60.1 million for the second quarter of 2026, or $0.14 per share, which was wider than the analyst estimate of a $0.06 loss. The company remains in a pre-revenue development phase, focusing on its dual-path regulatory strategy with the International Seabed Authority and U.S. domestic permitting.

Key Highlights

• Exploration and evaluation expenses surged to $56.1 million, primarily driven by $37.2 million in settlement and negotiated costs related to the Allseas development and operating agreement.
• Total liquidity as of June 30, 2026, reached approximately $143 million, comprised of $98.7 million in cash and available credit facilities, providing a projected 12-month runway.
• The International Seabed Authority (ISA) Council approved a five-year extension for the NORI exploration contract, while NOAA confirmed the USA-A deep-seabed mining application is in full compliance.