Logo

OMEX

Odyssey Marine Exploration, Inc.

OMEX

Odyssey Marine Exploration, Inc. • NASDAQ
$2.06 ▲ 6.74% (+0.13)
Market Cap $64.15 M
52w High $4.43
52w Low $0.27
Dividend Yield 0%
P/E -2.02
Volume 936.32K
Outstanding Shares 31.14M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $60.975K ▼ $1.376M ▼ $-13.073M ▲ -21.44K% ▼ $-425.12 ▼ $1.337B ▲
Q2-2025 $135K $3.813M ▲ $-14.848M ▼ -10.998K% ▼ $-0.48 ▼ $-15.872M ▼
Q1-2025 $135K ▼ $1.788M ▲ $2.242M ▲ 1.66K% ▲ $0.077 ▲ $787.164K ▲
Q4-2024 $136.147K ▼ $1.696M ▼ $-5.001M ▼ -3.673K% ▼ $-0.24 ▼ $-5.964M ▼
Q3-2024 $213.901K $1.733M $18.688M 8.737K% $0.9 $-2.847M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $5.816M ▲ $17.739M ▲ $101.039M ▼ $-45.405M ▲
Q2-2025 $3.551M ▲ $16.572M ▲ $106.838M ▲ $-52.806M ▼
Q1-2025 $2.46M ▼ $15.825M ▼ $95.269M ▼ $-13.948M ▲
Q4-2024 $4.792M ▲ $18.492M ▼ $97.575M ▼ $-16.245M ▼
Q3-2024 $2.859M $21.758M $98.48M $-16.063M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-13.073M ▲ $-2.095M ▼ $-159.095K ▼ $4.519M ▲ $2.265M ▲ $-2.096M ▼
Q2-2025 $-14.848M ▼ $-1.978M ▼ $0 $3.07M ▲ $1.092M ▲ $-1.978M ▼
Q1-2025 $2.242M ▲ $-1.955M ▼ $0 ▼ $-376.893K ▼ $-2.332M ▼ $-1.955M ▼
Q4-2024 $-5.001M ▼ $-1.892M ▼ $4.03K ▲ $3.82M ▲ $1.932M ▲ $-1.888M ▼
Q3-2024 $16.235M $-1.555M $-4.03K $-3.158M $-4.717M $-1.559M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Marine Services
Marine Services
 $0 ▲$0 ▲$0 ▲$0 ▲
Operating And Other
Operating And Other
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Odyssey is still essentially a pre‑revenue company: it has not generated meaningful operating revenue over the last five years. Reported profits in the most recent years seem to come more from one‑off items and accounting effects than from a steady underlying business. The income statement history shows a swing from sizable losses a few years ago to small reported profits recently, but without sales to back that up, earnings quality is uncertain and likely volatile. In practical terms, the business model is still in the “building and positioning” phase rather than a mature, fee‑ or royalty‑generating phase.

Balance Sheet

Balance Sheet The balance sheet is very light and looks financially fragile. The company runs with a small asset base, minimal cash, and a debt load that is large relative to its size. Shareholder equity is negative, which means liabilities exceed recorded assets. This kind of capital structure is common in small, project‑driven exploration companies but leaves limited cushion against setbacks. It also suggests an ongoing dependence on lenders or new capital to fund operations until projects begin to generate cash.

Cash Flow

Cash Flow Cash flow has been consistently negative from operations over most of the past five years, with only a recent move toward breakeven. Free cash flow has historically been weak, as cash spent to run and advance projects has not been offset by incoming cash from customers. Capital spending appears modest, which fits an asset‑light, partnership‑based model. Overall, though, the company has been a cash user rather than a cash generator and likely relies on external funding to sustain project development.

Competitive Edge

Competitive Edge Odyssey operates in a very specialized niche: deep‑sea mineral exploration and project development. Its long history in deep‑ocean operations, bespoke underwater technology, and relationships with governments give it a differentiated position versus general industrial or mining peers. The first‑mover advantage in an emerging industry, along with a partnership‑driven model, can be a meaningful edge. However, the industry itself is still early, politically sensitive, and exposed to environmental and regulatory pushback. The company’s fortunes are also concentrated in a small number of key projects and jurisdictions, which heightens project risk even as it benefits from specialization.

Innovation and R&D

Innovation and R&D Innovation is one of Odyssey’s core strengths. The company has repurposed decades of shipwreck recovery know‑how into modern deep‑sea mineral exploration tools. Its autonomous seabed monitoring systems and data‑heavy “Global Prospectivity” analytics are designed to help secure permits and identify attractive deposits. The business model emphasizes providing a full suite of technical and environmental services to governments and license holders, not just raw exploration. The main open questions are around the next wave of innovation—particularly cost‑effective, environmentally acceptable extraction methods—and how quickly regulatory frameworks will allow these technologies to be deployed at scale.

Summary

Overall, Odyssey looks like a high‑risk, early‑stage platform aimed at a potentially large but still unproven opportunity: deep‑sea minerals for fertilizer and energy‑transition metals. Financially, it remains pre‑revenue, with a thin and leveraged balance sheet and a history of cash burn, even as reported earnings have recently improved on paper. Strategically, the company stands out for its niche expertise, government relationships, and technology‑driven approach, which could matter a lot if deep‑sea mining gains broader regulatory and social acceptance. At the same time, outcomes are highly uncertain and strongly tied to a few key projects, permitting decisions, and the broader global debate over the environmental impact of seabed resource development.

NEWS

November 12, 2025 · 9:40 AM UTC

Odyssey Marine Exploration Announces Third Quarter Results

Read more

November 11, 2025 · 9:05 AM UTC

Odyssey Marine Exploration Welcomes U.S. Government Recognition of Phosphate as a Critical Mineral, Strengthening Strategic Phosphate Projects

Read more

November 7, 2025 · 8:30 AM UTC

Odyssey Marine Exploration Files U.S. Offshore Critical Minerals Lease Sale Request to Advance America's Resource Security

Read more

October 16, 2025 · 9:00 AM UTC

Two Odyssey Marine Exploration Autonomous Benthic Mini Landers Successfully Deployed in the Cook Islands' EEZ

Read more

September 24, 2025 · 9:00 AM UTC

Odyssey Marine Exploration CEO to Present Critical Minerals Ocean Resource Opportunities at Emerging Growth Conference

Read more