Odyssey Marine Exploration (OMEX) AI Stock Analysis

• Market Cap: $51.08M
• Dividend Yield: N/A
• Average Volume (3M): 2.71M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.08
• Revenue Growth: -2.44%
• EPS Growth: N/A
• Country: US
• Employees: 11
• Sector: Basic Materials
• Sector Strength: 60
• Industry: Specialty Business Services
• EPS (TTM): N/A
• Shares Outstanding: 31,335,539
• 10 Day Avg. Volume: 2,559,452
• 30 Day Avg. Volume: 2,710,534
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: -0.53
• Enterprise Value/Revenue: -38.43
• Enterprise Value/Gross Profit: 12.88
• Enterprise Value/Ebitda: -2.46
• 1Y Price Target: $1.50
• Price Target Upside: -7.98% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 54 Neutral
• Price Target: $1.50 ▼(-7.98% Downside)

Odyssey Marine Exploration's overall stock score is primarily impacted by its precarious financial health, characterized by unstable revenue and a weak capital structure. However, positive technical indicators and the resolution of a Nasdaq compliance issue provide some support. The negative P/E ratio and lack of dividend yield further weigh on the valuation.

Odyssey Marine Exploration Business Overview & Revenue Model

Company Description

Odyssey Marine Exploration (OMEX) is a pioneering marine exploration company specializing in the discovery, recovery, and conservation of shipwrecks and underwater resources. The company operates within the sectors of marine archaeology, treasure recovery, and deep-sea exploration, utilizing advanced technology and equipment to locate and salvage valuable historical artifacts, precious metals, and other materials from the ocean floor. OMEX is also engaged in environmental preservation efforts related to underwater heritage.

How the Company Makes Money

Odyssey Marine Exploration generates revenue primarily through the recovery and sale of valuable artifacts, precious metals, and other resources obtained from shipwrecks. The company often partners with various stakeholders, including governments and private entities, to conduct archaeological projects, which may result in shared revenue from recovered items. Additionally, OMEX may receive funding or grants for conservation efforts and marine research. The company also explores licensing agreements and collaborations with museums and educational institutions for the display and study of recovered artifacts, further contributing to its earnings.

Odyssey Marine Exploration Financial Statement Overview

Summary

Odyssey Marine Exploration faces considerable financial challenges, characterized by unstable revenue, consistent operating losses, and a weak capital structure. Although there are signs of improved free cash flow, the company's overall financial health remains precarious, with significant leverage and negative equity posing substantial risks.

Income Statement

Odyssey Marine Exploration shows highly volatile revenue with a significant decline from 2023 to 2024. Despite a positive net income in the latest annual report, the company has persistent negative EBIT and EBITDA margins, indicating operational inefficiencies. The gross profit margin is effectively zero, pointing to a lack of cost control and profitability.

Balance Sheet

The company's balance sheet reflects financial instability with negative stockholders' equity, indicating potential insolvency risks. The debt-to-equity ratio is not meaningful due to negative equity, and the high total liabilities suggest a heavy reliance on debt financing. ROE is not applicable due to negative equity, and the equity ratio is negative, underlining weak capital structure and financial distress.

Cash Flow

Cash flow analysis highlights some improvement with positive free cash flow in the latest year, albeit inconsistent over time. The operating cash flow to net income ratio suggests better cash conversion in 2024. However, the cash flow remains insufficient to cover financial obligations, reflecting ongoing liquidity challenges.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	768.68K	803.80K	1.33M	921.24K	2.04M
Gross Profit	-2.34M	-3.49M	-8.56M	-8.63M	-8.89M
EBITDA	12.97M	1.58M	-27.27M	-5.14M	-14.03M
Net Income	15.66M	5.35M	-23.14M	-9.96M	-14.81M
Balance Sheet
Total Assets	18.49M	22.75M	13.28M	8.91M	11.76M
Cash, Cash Equivalents and Short-Term Investments	4.79M	4.02M	1.44M	2.27M	6.16M
Total Debt	22.94M	23.45M	47.06M	42.36M	43.21M
Total Liabilities	97.58M	108.66M	89.83M	71.40M	69.67M
Stockholders Equity	-56.62B	-32.48M	-32.35M	-26.03M	-27.63M
Cash Flow
Free Cash Flow	557.99K	-11.52M	-10.60M	-5.44M	-9.18M
Operating Cash Flow	519.39K	-10.17M	-9.25M	-5.43M	-9.18M
Investing Cash Flow	-84.35K	-1.03M	-2.35M	322.99K	0.00
Financing Cash Flow	212.03K	13.78M	10.77M	1.21M	15.13M

Odyssey Marine Exploration Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 1.63
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For OMEX, the sentiment is Neutral. The current price of 1.63 is above the 20-day moving average (MA) of 1.53, above the 50-day MA of 1.36, and above the 200-day MA of 0.78, indicating a neutral trend. The MACD of 0.06 indicates Positive momentum. The RSI at 50.43 is Neutral, neither overbought nor oversold. The STOCH value of 52.04 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for OMEX.

Odyssey Marine Exploration Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NTIP	57 Neutral	$31.91M	―	-5.10%	7.04%	-92.03%	-20.56%
OMEX	54 Neutral	$51.08M	―		―	-2.44%	―
ACTG	47 Neutral	$325.02M	7.73	-1.17%	―	62.44%	-109.84%
SGRP	47 Neutral	$26.78M	2.10	-47.70%	―	-39.28%	-197.70%
Sector *	44 Neutral	AU$1.54B	-7.28	-22.62%	4.37%	-3.13%	-36.41%
SST	43 Neutral	$59.78M	―	-84.85%	―	-12.76%	56.53%

Odyssey Marine Exploration Corporate Events

Odyssey Marine Exploration’s Financial Structure Shifts in August

On March 6, 2023, Odyssey Marine Exploration, Inc. entered into a Note and Warrant Purchase Agreement with institutional investors, issuing convertible promissory notes worth $14 million and warrants for common stock. By August 2025, investors converted $6,661,684 of these notes into 6,056,073 shares, increasing the company’s outstanding shares to 45,190,598, indicating a significant shift in its financial structure.

Odyssey Marine Exploration Expands Shares in July 2025

On March 6, 2023, Odyssey Marine Exploration entered into a Note and Warrant Purchase Agreement, issuing promissory notes worth $14 million and warrants for shares. By December 23, 2024, the company had sold 7,377,912 shares of common stock, with investors later converting $1 million of debt into shares and purchasing additional shares in July 2025. These transactions increased the company’s outstanding shares to 39,134,525, impacting its financial structure and investor relations.

Odyssey Marine Exploration Forms Joint Venture in Mexico

Odyssey Marine Exploration, Inc. announced the formation of a joint venture with Capital Latinoamericano, S.A. de C.V. to develop a fertilizer production project in Mexico, with both parties holding equal equity interests. The company also authorized the capitalization of intercompany receivables and held its Annual Meeting of Stockholders, where key proposals such as the election of directors and executive compensation were approved, while others like the Authorized Capitalization and Reverse Split proposals did not pass.