TMC Q1 FY26 net loss steady at $20.5 million

• TMC posted a net loss of $20.5 million, or $0.05 a share, for Q1 2026, roughly flat versus a $20.6 million loss, or $0.06 a share, a year earlier.
• Operating loss widened to $34 million from $18 million, while general and administrative expenses climbed 143.53% to $20.7 million.
• Exploration and evaluation expenses rose 40% to $13.3 million, while change in fair value of warrants liability swung to a $10.7 million gain from a $0.5 million loss.
• Liquidity totaled $164 million as of March 31, 2026, including cash and borrowing capacity.
• Signed an agreement with Allseas on May 11 to complete development and operate first commercial nodule production system, with nameplate capacity of 3 million wet tonnes per year and commissioning expected to begin in Q4 2027.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. TMC the metals company Inc. published the original content used to generate this news brief on May 14, 2026, and is solely responsible for the information contained therein.