---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-060528"
form_type: "8-K"
ticker: "TMC"
cik: "0001798562"
company_name: "TMC the metals Co Inc."
filed_at: "2024-05-13T23:59:59+00:00"
generated_at: "2026-06-02T02:36:32.168212+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# TMC posts Q1 net loss of $25.2M, widening from $13.7M; cash use $11.9M

## Summary
- Net loss $25.2M ($0.08/share) vs $13.7M ($0.05) year ago; exploration expenses rose to $18.1M from $7.2M.
- Total liquidity ~$49M at March 31, including $4M cash and $45M undrawn credit facilities; post-quarter drew $2.9M.
- Steve Jurvetson joined board as Vice Chairman and special advisor to CEO in April 2024.
- World-first nickel sulfate production from seafloor nodules announced; environmental data submitted to ISA.
- Company expects sufficient liquidity for at least next twelve months.

## SEC filing metadata
- accession: 0001104659-24-060528
- form_type: 8-K
- ticker: TMC
- cik: 0001798562
- company_name: TMC the metals Co Inc.
- filed_at: 2024-05-13T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1798562/000110465924060528/0001104659-24-060528-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1798562/000110465924060528/tm2414049d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-060528
- JSON: https://secwatch.observer/filing/0001104659-24-060528.json
- Plain text: https://secwatch.observer/filing/0001104659-24-060528.txt

## Key facts
- Earnings Releases
  TMC the metals Co Inc. reported the first quarter ended March 31, 2024 results: net income Net loss of $25.2 million and net loss per share of $0.08, EPS $0.08 per share.
  - Period: the first quarter ended March 31, 2024
  - Net income: Net loss of $25.2 million and net loss per share of $0.08
  - EPS: $0.08 per share
  - Result: reported results
  source text: TMC the metals company Inc. (Nasdaq: TMC) (“TMC” or “the Company”), an explorer of lower-impact battery metals from seafloor polymetallic nodules, today provided a corporate update and first quarter financial results for the period ending March 31, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1798562/000110465924060528/0001104659-24-060528-index.htm

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