The earnings call highlighted significant strategic achievements such as the successful Strategy Day, strategic investment from Korea Zinc, and regulatory progress with NOAA. However, it also noted challenges such as a delayed production timeline and increased net loss. The call reflects a balanced sentiment with both positive advancements and operational challenges.

Company Guidance

During The Metals Company's second quarter 2025 corporate update call, the company provided guidance indicating a focus on progressing their deep-sea mining project towards production. Key metrics included a projected net present value of more than $23 billion for the project and an expected production start date in Q4 2027. The company highlighted a pre-feasibility study (PFS) for the NORI-D area, which estimates 164 million wet tons of recoverable nodules, with steady-state annual production modeled at 10.8 million tons yielding revenue of $600 per dry ton. Operational expenditures are estimated at $340 per ton, projecting an EBITDA margin of 43%. Additionally, the company outlined partnership developments and regulatory milestones, including a strategic $85 million investment from Korea Zinc and progress on U.S. regulatory compliance, with NOAA confirming full compliance for exploration license applications. These steps are seen as paving the way for future production and strategic positioning in the critical minerals market.

Successful Strategy Day

The company's first-ever Strategy Day was held on August 4 in New York, featuring keynote speakers and the ringing of the NASDAQ closing bell.

Release of PFS and Initial Assessment

The release of the PFS and initial assessment documents showed a combined project net present value of over $23 billion.

Strategic Investment from Korea Zinc

The company secured a strategic investment of $85 million from Korea Zinc, the world's largest smelter of nonferrous metals.

Strengthened Partnerships with Nauru and Tonga

The company renewed and strengthened agreements with the Republic of Nauru and the Kingdom of Tonga, supporting economic opportunities and critical mineral supply chains.

Regulatory Progress with NOAA

NOAA confirmed full compliance for exploration license applications, marking significant progress in the regulatory process.

Board Additions

The addition of influential leaders Michael Hess and Alex Spiro to the TMC Board to enhance strategic partnerships and capital access.

TMC the metals company Inc. (TMC) Earnings, Revenues Date & History

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TMC Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 06, 2025	2025 (Q3)	-0.06 / -	-0.06	―	―	―
Aug 14, 2025	2025 (Q2)	-0.05 / -0.20	-0.06	-233.33% (-0.14)
May 14, 2025	2025 (Q1)	-0.04 / -0.06	-0.08	25.00% (+0.02)
Mar 27, 2025	2024 (Q4)	-0.05 / -0.05	-0.11	54.55% (+0.06)
Nov 14, 2024	2024 (Q3)	-0.06 / -0.06	-0.04	-50.00% (-0.02)
Aug 14, 2024	2024 (Q2)	-0.05 / -0.06	-0.05	-20.00% (>-0.01)
May 13, 2024	2024 (Q1)	-0.05 / -0.08	0	―
Mar 25, 2024	2023 (Q4)	-0.16 / -0.11	-0.41	73.17% (+0.30)
Nov 09, 2023	2023 (Q3)	-0.11 / -0.04	-0.12	66.67% (+0.08)
Aug 14, 2023	2023 (Q2)	-0.12 / -0.05	-0.05	0.00% (0.00)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

TMC Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 14, 2025	$5.41	$4.92	-9.06%
May 14, 2025	$2.99	$3.30	+10.37%
Mar 27, 2025	$1.70	$1.72	+1.18%
Nov 14, 2024	$0.96	$1.00	+4.17%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.