ODYSSEY MARINE EXPLORATION INC OMEX
Odyssey Marine Exploration, Inc. discovers, validates, and develops high-value seafloor mineral resources in an environmentally responsible manner, providing access to critical resources that can transform societies and economies for generations to come.
We have a diversified mineral portfolio that includes projects controlled by us and other projects in which we are a minority owner and service provider. In addition, our team is continually working to add new projects to the portfolio by identifying potential new assets through a proprietary "Global Prospectivity Program" leading to the acquisition of appropriate rights. Our development focus is on projects that can meet stringent standards for environmental responsibility and sustainability while unlocking benefits for the host country. Environmental protection remains at the forefront of the strategic and tactical decision-making processes in all our work.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $353.7K | $768.7K | $803.8K | $1.3M | $921.2K | $2.0M | $3.1M | $3.3M | $1.2M | $4.7M |
| SG&A | $11.0M | $9.7M | $6.8M | $9.4M | $6.3M | $3.7M | $5.5M | $5.7M | $6.2M | $8.0M |
| Total operating expenses | $13.8M | $12.8M | $11.1M | $19.2M | $15.9M | $14.7M | $13.4M | $9.3M | $9.6M | $15.2M |
| Operating income | -$13.4M | -$12.0M | -$10.3M | -$17.9M | -$15.0M | -$12.6M | -$10.3M | -$6.1M | -$8.4M | -$10.6M |
| Interest expense | $4.9M | $6.5M | $5.0M | $2.3M | $10.8M | $6.9M | $5.4M | $3.1M | $2.7M | $2.4M |
| Pre-tax income | -$48.5M | $6.2M | -$3.9M | -$29.8M | -$16.1M | -$21.1M | -$15.5M | -$9.1M | -$11.0M | -$9.1M |
| Income tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net income | -$43.1M | $15.7M | $5.3M | -$22.1M | -$10.0M | -$14.8M | -$10.4M | -$5.2M | -$7.8M | -$6.3M |
| EPS, basic | -1.10 | 0.75 | 0.27 | -1.28 | -0.75 | -1.41 | — | — | — | — |
| EPS, diluted | -1.10 | 0.07 | 0.27 | -1.28 | -0.75 | -1.41 | -1.12 | -0.60 | -0.95 | -0.84 |
| Shares, diluted (wtd. avg.) | $39.3M | $28.4M | $20.1M | $17.3M | $13.3M | $10.5M | $9.3M | $8.6M | $8.2M | $7.6M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $3.5M | $4.8M | $4.0M | $1.4M | $2.3M | $6.2M | $213.4K | $2.8M | $1.1M | $1.7M |
| Receivables | $67.3K | $285.8K | $110.3K | $7.5K | $268.9K | $160.3K | $421.6K | $789.4K | $232.4K | $473.8K |
| Total current assets | $4.4M | $5.8M | $4.9M | $4.0M | $3.3M | $6.9M | $1.2M | $4.6M | $1.8M | $2.8M |
| Property, plant and equipment | $474.8K | $534.0K | $524.7K | $2.9M | $479.1K | $614.8K | $756.8K | $118.0K | $593.8K | $1.8M |
| Total assets | $15.8M | $18.5M | $22.8M | $13.9M | $8.9M | $11.8M | $5.3M | $5.5M | $3.0M | $5.1M |
| Accounts payable | $770.8K | $748.4K | $345.4K | $2.3M | $1.8M | $1.5M | $6.2M | $2.8M | $2.4M | $1.4M |
| Total current liabilities | $11.7M | $22.5M | $31.5M | $41.8M | $52.6M | $53.9M | $51.2M | $42.0M | $33.3M | $27.2M |
| Long-term debt | — | — | — | — | — | — | — | — | $3.0M | $4.3M |
| Total liabilities | $91.4M | $97.6M | $108.7M | $102.5M | $71.4M | $69.7M | $58.6M | $46.7M | $41.0M | $36.2M |
| Retained earnings | -$323.5M | -$280.4M | -$296.1M | -$301.4M | -$275.1M | -$265.1M | -$250.3M | -$239.9M | -$234.7M | -$227.0M |
| Total equity | -$37.6M | -$16.2M | -$85.9M | -$88.7M | -$67.0M | -$57.9M | -$53.3M | -$41.2M | -$38.0M | -$31.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$8.8M | $642.3K | -$10.2M | -$10.2M | -$5.4M | -$9.2M | -$5.4M | -$6.5M | -$5.9M | -$8.3M |
| Depreciation and amortisation | $75.3K | $79.0K | $243.0K | $88.4K | $8.8K | $9.3K | $116.4K | $453.5K | $760.8K | $1.1M |
| Stock-based compensation | $222.1K | $2.0M | $585.7K | $1.8M | $1.3M | $420.6K | $55.2K | $278.9K | $725.9K | $1.7M |
| Capital expenditure | $16.1K | $84.3K | $1.3M | $1.5M | $19.1K | $0 | $15.5K | $9.6K | — | $129.7K |
| Investing cash flow | -$173.6K | -$84.3K | -$1.0M | -$2.5M | $323.0K | $0 | -$15.5K | $994.0K | $80.0K | $70.3K |
| Financing cash flow | $7.7M | $212.0K | $13.8M | $11.9M | $1.2M | $15.1M | $2.9M | $7.1M | $5.2M | $7.7M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-333504.
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