TMC Q2 FY26 net loss narrows to $60.1 million; cash used in operations rises to $20.1 million
TMC•Liquidity and operations update
Liquidity totaled about $143 million at June 30, including $98.7 million cash, and cash used in operations was $20.1 million.
NOAA review continued for USA-A and USA-B applications, while Allseas advanced the Hidden Gem system toward targeted Q4 2027 commissioning.
Quarterly loss narrows, but operating cash burn rises
TMC the metals company posted a Q2 net loss of $60.1 million, narrowing from $74.3 million a year earlier.
Loss per share improved to $0.14 from $0.20 in the prior-year quarter.
Exploration and evaluation costs jump on Allseas settlement
Exploration and evaluation expense jumped more than fivefold to $56.1 million, including $37.2 million tied to Allseas settlement costs.
