TMC Shares Fall After Q2 Loss Despite Regulatory and Project Milestones

Author: Vaishali Prayag | August 15, 2025 11:43am

TMC the metals company Inc. (NASDAQ:TMC) shares are trading lower Friday after the company reported a larger-than-expected second-quarter loss.

What To Know: For the quarter ended June 30 2025, TMC posted a net loss of $74.3 million, or 20 cents per share, missing analyst expectations. The company recorded an operating loss of $22 million and reported total cash of $115.8 million, with $10.6 million used in operations during the quarter.

Despite the financial miss, TMC announced several operational and regulatory milestones. On Aug. 11, the company's U.S. subsidiary received notice of full compliance from the National Oceanic and Atmospheric Administration on its exploration license applications, securing priority rights over both exploration areas. CEO Gerard Barron called the update "a defining moment" for the company, citing the path toward first production from its NORI-D Project in the fourth quarter of 2027.

The quarter also saw strategic investments, including an $85.2 million equity deal with Korea Zinc and a $37 million registered direct offering led by institutional investors. The company renewed sponsorship agreements with Nauru and Tonga to ensure continued financial and training benefits for both Pacific nations, should other TMC subsidiaries gain U.S. regulatory approval for seabed mining.

TMC maintains its target to begin commercial production in late 2027, scaling up to an annual rate of 10.8 million tonnes of wet nodules by 2031. Barron emphasized that regulatory progress, combined with strategic partnerships, "reduces risk, sharpens our execution timeline, and strengthens the investment case" for the company's critical metals projects.

TMC Price Action: TMC shares were down 12.38% at $4.74 at the time of writing, according to Benzinga pro.

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Posted In: TMC