OMEX ODYSSEY MARINE EXPLORATION INC

Overview and Growth

Fiscal 2025 results for ODYSSEY MARINE EXPLORATION INC combined $353.72K of revenue with net loss of $43.09M and an operating cash outflow of $8.85M. Revenue of $353.72K sets the scale for evaluating how effectively sales translated into profit and cash during the year. Revenue was 54.0% below fiscal 2024 revenue of $768.68K, marking a top-line contraction. The company reported diluted EPS of -$1.10, adding a shareholder-level measure to the absolute income figures considered below. A diluted share base of 39.25M links the aggregate earnings figure to diluted EPS and helps frame the per-share comparison. The diluted share count was 38.3% higher than fiscal 2024, when diluted shares averaged 28.38M, adding context to the EPS comparison. The company employed $15.84M of total assets, the balance-sheet base supporting its current operating and cash-flow results. The revenue-to-assets relationship was 0.02x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

Operations produced a $13.43M operating loss before non-operating and tax effects. The company ended the period with a net loss of $43.09M, extending the operating result through all remaining items. Negative EBITDA totaled $13.36M, confirming that the earnings deficit remained before depreciation and amortization. The company reported a pretax loss of $48.47M, before the effect of income taxes. Income tax expense totaled $0.00, providing the reported tax component that separates pretax and after-tax earnings. The loss-to-assets relationship was 272.0%, placing the bottom-line deficit against the company’s resource base. A $43.09M net loss replaced fiscal 2024 net income of $15.66M.

Liquidity and Capital Structure

Total assets were $15.84M, supported by $91.38M of liabilities and -$75.54M of shareholder equity. The company reported negative equity of -$75.54M, a capital deficit that reduces its ability to absorb losses through book equity. Current assets were $4.36M against $11.68M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. Current assets covered only 0.37x of current liabilities, so current liabilities exceeded current assets at period end. Reported cash and equivalents were $3.52M, separating immediately recognizable cash resources from the rest of the current-asset base. The cash balance equaled 30.1% of current liabilities, showing how much near-term coverage came from cash alone. Equity equaled -476.9% of assets, showing the shareholder-capital layer within the company’s balance sheet. The liabilities-to-assets relationship was 576.9%, placing reported obligations against the full positive asset balance. Cash and equivalents equaled 22.2% of total assets, showing the liquid cash component within the company’s broader resource base. Total assets were 14.3% lower than fiscal 2024 assets of $18.49M, measuring the company’s own balance-sheet change. The reported cash balance changed 26.6% from $4.79M in fiscal 2024, ending lower year over year.

Cash Flow and Earnings Quality

The company reported an operating cash outflow of $8.85M, rather than cash generation from operations. Capital spending of $16.10K added to the period’s operating cash use, reinforcing the overall cash deficit after investment for the year. The company recorded a $8.87M cash deficit after capital spending for the period. Relative to total assets, the post-investment cash deficit measured 56.0%. A current operating cash outflow of $8.85M replaced the $642.34K inflow reported in fiscal 2024.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Sep 24, 2026.