TMC (NASDAQ:TMC), a company focused on collecting polymetallic nodules from the deep seabed to supply critical battery metals, reported its fourth-quarter and full-year 2025 financial results along with a corporate update on March 27, 2026.
As of December 31, 2025, the company held approximately $117.6 million in cash.
TMC expects total liquidity of roughly $154 million as of March 31, 2026, including undrawn committed facilities.
For the fourth quarter of 2025, TMC reported a net loss of $40.4 million, or $0.08 per share.
The full-year net loss totaled $319.8 million, or $0.83 per share.
On the operational front, TMC holds an exclusive right to negotiate a 50-year lease for 1,466 acres in the Port of Brownsville, Texas, for the development of a potential 12 million tonnes per annum (Mtpa) nodule processing and refining hub.
Separately, the National Oceanic and Atmospheric Administration (NOAA) determined that TMC USA’s consolidated deep-seabed mining application is in substantial compliance.
The consolidated application expands the proposed commercial recovery area to approximately 65,000 square kilometers.