---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-116301"
form_type: "8-K"
ticker: "TMC"
cik: "0001798562"
company_name: "TMC the metals Co Inc."
filed_at: "2023-11-09T23:59:59+00:00"
generated_at: "2026-06-08T07:18:56.854981+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# TMC reports Q3 net loss of $12.5M, cash $22.5M; targeting Q4 2025 production

## Summary
- Net loss of $12.5M ($0.04/share) vs $27.9M ($0.12/share) in Q3 2022; exploration expenses fell to $7.9M from $22.7M.
- Cash $22.5M at Sep 30, 2023; total liquidity ~$56M including $9M from ERAS Capital and $25M undrawn credit facility.
- Pre-feasibility study and Environmental Impact Statement underway; commercial production targeted as early as Q4 2025.
- November 2023 offshore campaign to revisit nodule collector test site to strengthen EIS data.
- Registered Direct Offering of up to 12.5M shares at $2.00/share expected gross proceeds of $24.9M.

## SEC filing metadata
- accession: 0001104659-23-116301
- form_type: 8-K
- ticker: TMC
- cik: 0001798562
- company_name: TMC the metals Co Inc.
- filed_at: 2023-11-09T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1798562/000110465923116301/0001104659-23-116301-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1798562/000110465923116301/tm2324516d2_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-116301
- JSON: https://secwatch.observer/filing/0001104659-23-116301.json
- Plain text: https://secwatch.observer/filing/0001104659-23-116301.txt

## Key facts
- Earnings Releases
  TMC the metals Co Inc. reported third quarter ended September 30, 2023 results: net income Net loss of $12.5 million and net loss per share of $0.04 for the quarter ended September 30, 2023.
  - Period: third quarter ended September 30, 2023
  - Net income: Net loss of $12.5 million and net loss per share of $0.04 for the quarter ended September 30, 2023
  - Result: reported results
  source text: Net loss of $12.5 million and net loss per share of $0.04 for the quarter ended September 30, 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/1798562/000110465923116301/0001104659-23-116301-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.