TMC the metals Co Inc. (NASDAQ:TMC)
Insiders here have filed 3 Form 4s in the last 90 days, but all of them are share awards, grants or other non-market transactions. Those are compensation, not a decision to buy, so they are not scored.
No revenue reported, so there is no margin to score.
- Revenue
- $0
- Net income
- -$305.6M
- Net margin
- —
Little or no net debt.
- Total debt
- $0
- Cash
- $98.7M
- Total debt
- $0
Comfortably covers what is due within a year.
- Current assets
- $98.7M
- Current liabilities
- $52.6M
- Current ratio
- 1.87
Consumes cash and must keep raising it.
- Operating cash flow
- -$43.6M
- Free cash flow
- -$43.7M
Heavy dilution — shareholders are paying for the business.
- Shares outstanding
- 433.2M
- Share growth (1y)
- 18.2%
- Cash runway
- 27 months
Five pillars — profitability, leverage, liquidity, cash generation, dilution & runway — each scored 0–20 from the company’s own income statement, balance sheet and cash-flow statement, then scaled to 100. A pillar the statements cannot answer is left out rather than guessed; fewer than three and no score is shown.
TMC Income Statement
| Fiscal Period | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|
| Period Ending | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 |
| Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Revenue Growth (YoY) | — | — | — | — | — | — |
| Cost of Revenue | 0.00 | 39.00 K | 79.00 K | 0.00 | 0.00 | 0.00 |
| Gross Profit | 0.00 | -39.00 K | -79.00 K | 0.00 | 0.00 | 0.00 |
| SG&A Expense | 15.63 M | 20.73 M | 29.04 M | 45.73 M | 11.48 M | 8.50 M |
| R&D Expense | 56.09 M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Operating Expenses | 71.72 M | 33.94 M | 44.63 M | 55.36 M | 21.98 M | 18.02 M |
| Operating Income | -71.72 M | -33.98 M | -44.70 M | -55.36 M | -21.98 M | -18.02 M |
| Pretax Income | -60.01 M | -20.55 M | -40.38 M | -184.39 M | -74.34 M | -20.59 M |
| Tax Provision | 116.00 K | 44.00 K | 21.00 K | 123.00 K | 0.00 | 0.00 |
| Net Income | -60.12 M | -20.60 M | -40.40 M | -184.52 M | -74.34 M | -20.59 M |
| EPS (Basic) | -0.14 | -0.05 | -0.10 | -0.57 | -0.20 | -0.06 |
| EPS (Diluted) | -0.14 | -0.05 | -0.10 | -0.57 | -0.20 | -0.06 |
| Shares Outstanding | 433.24 M | 425.77 M | 384.51 M | 321.88 M | 366.63 M | 345.35 M |
Quarterly figures; YoY compares the same fiscal quarter a year earlier. Source: public market data.