Odyssey Marine Expl Inc Financials
This page shows Odyssey Marine Expl Inc (OMEX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Odyssey Marine Expl Inc has an operating margin of -3797.1%, meaning the company retains $-3797 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -1561.8% the prior year.
Odyssey Marine Expl Inc's revenue declined 54% year-over-year, from $769K to $354K. This contraction results in a growth score of 0/100.
Odyssey Marine Expl Inc's current ratio of 0.37 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 2/100, which could limit financial flexibility.
While Odyssey Marine Expl Inc generated -$8.8M in operating cash flow, capex of $16K consumed most of it, leaving -$8.9M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Odyssey Marine Expl Inc passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Odyssey Marine Expl Inc generates $0.21 in operating cash flow (-$8.8M OCF vs -$43.1M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Odyssey Marine Expl Inc earns $-134.3 in operating income for every $1 of interest expense (-$13.4M vs $100K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Odyssey Marine Expl Inc generated $354K in revenue in fiscal year 2025. This represents a decrease of 54.0% from the prior year.
Odyssey Marine Expl Inc's EBITDA was -$13.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 12.0% from the prior year.
Odyssey Marine Expl Inc reported -$43.1M in net income in fiscal year 2025. This represents a decrease of 375.2% from the prior year.
Odyssey Marine Expl Inc earned $-1.10 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 1671.4% from the prior year.
Cash & Balance Sheet
Odyssey Marine Expl Inc generated -$8.9M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 1688.8% from the prior year.
Odyssey Marine Expl Inc held $3.5M in cash against $11.6M in long-term debt as of fiscal year 2025.
Odyssey Marine Expl Inc had 58M shares outstanding in fiscal year 2025. This represents an increase of 102.0% from the prior year.
Margins & Returns
Odyssey Marine Expl Inc's operating margin was -3797.1% in fiscal year 2025, reflecting core business profitability. This is down 2235.4 percentage points from the prior year.
Odyssey Marine Expl Inc's net profit margin was -12180.6% in fiscal year 2025, showing the share of revenue converted to profit. This is down 14217.6 percentage points from the prior year.
Capital Allocation
Odyssey Marine Expl Inc invested $16K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 80.9% from the prior year.
OMEX Income Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $61K-54.8% | $135K0.0% | $135K-0.8% | $136K-36.4% | $214K-0.8% | $216K+6.2% | $203K | N/A |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $1.4M-63.9% | $3.8M+113.2% | $1.8M+5.4% | $1.7M-2.1% | $1.7M-21.4% | $2.2M-45.4% | $4.0M | N/A |
| Operating Income | -$2.1M+51.3% | -$4.4M-96.6% | -$2.2M-58.6% | -$1.4M+51.1% | -$2.9M+4.9% | -$3.0M+36.1% | -$4.7M | N/A |
| Interest Expense | $1.4M+8.1% | $1.2M+5.7% | $1.2M-1.1% | $1.2M-28.3% | $1.7M-9.0% | $1.8M+0.8% | $1.8M | N/A |
| Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | N/A |
| Net Income | -$13.1M+12.0% | -$14.8M-762.4% | $2.2M+144.8% | -$5.0M-126.8% | $18.7M+1323.8% | -$1.5M-143.7% | $3.5M | N/A |
| EPS (Diluted) | $-0.31+35.4% | $-0.48-4900.0% | $0.01 | N/A | $0.13+285.7% | $-0.07+61.1% | $-0.18 | N/A |
OMEX Balance Sheet
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $17.7M+7.0% | $16.6M+4.7% | $15.8M-14.4% | $18.5M-15.0% | $21.8M-17.2% | $26.3M+27.4% | $20.6M-9.3% | $22.8M |
| Current Assets | $6.2M+53.9% | $4.0M+30.0% | $3.1M-46.2% | $5.8M+78.8% | $3.2M-59.9% | $8.0M+195.1% | $2.7M-44.1% | $4.9M |
| Cash & Equivalents | $5.8M+63.8% | $3.6M+44.4% | $2.5M-48.7% | $4.8M+67.6% | $2.9M-62.3% | $7.6M+264.6% | $2.1M-48.3% | $4.0M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $67K0.0% | $67K0.0% | $67K-76.4% | $286K+239.7% | $84K+11.3% | $76K+27.8% | $59K-46.4% | $110K |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $63.1M-9.0% | $69.4M+133.0% | $29.8M-14.3% | $34.7M-8.2% | $37.8M-39.0% | $62.0M+11.3% | $55.7M+0.8% | $55.2M |
| Current Liabilities | $16.4M-47.0% | $31.0M+33.8% | $23.1M+3.0% | $22.5M-27.4% | $31.0M-18.1% | $37.8M+14.9% | $32.9M+4.5% | $31.5M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$45.4M+14.0% | -$52.8M-278.6% | -$13.9M+14.1% | -$16.2M-1.1% | -$16.1M+55.0% | -$35.7M-1.9% | -$35.1M-7.9% | -$32.5M |
| Retained Earnings | -$306.1M-4.5% | -$293.0M-5.3% | -$278.2M+0.8% | -$280.4M-1.8% | -$275.4M+6.4% | -$294.1M-0.5% | -$292.6M+1.2% | -$296.1M |
OMEX Cash Flow Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.1M-5.9% | -$2.0M-1.2% | -$2.0M-10.5% | -$1.8M-13.8% | -$1.6M-127.6% | $5.6M+437.6% | -$1.7M-16.8% | -$1.4M |
| Capital Expenditures | $2K | $0 | $0+100.0% | -$4K-200.0% | $4K+120.6% | -$20K-118.8% | $104K-86.5% | $768K |
| Free Cash Flow | -$2.1M-6.0% | -$2.0M-1.2% | -$2.0M-10.3% | -$1.8M-13.7% | -$1.6M-127.8% | $5.6M+416.7% | -$1.8M+19.3% | -$2.2M |
| Investing Cash Flow | -$159K | $0 | $0-100.0% | $4K+200.0% | -$4K-120.6% | $20K+118.8% | -$104K+82.7% | -$600K |
| Financing Cash Flow | $4.5M+47.2% | $3.1M+914.5% | -$377K-110.2% | $3.7M+217.1% | -$3.2M-1916.5% | -$157K+8.2% | -$171K-103.1% | $5.5M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
OMEX Financial Ratios
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | -3494.4%-253.4pp | -3241.0%-1592.3pp | -1648.6%-617.7pp | -1031.0%+309.9pp | -1340.9%+58.2pp | -1399.1%+923.9pp | -2323.0% | N/A |
| Net Margin | -21439.5%-10441.0pp | -10998.5%-12658.9pp | 1660.4%+5333.8pp | -3673.4%-12410.3pp | 8736.9%+9445.3pp | -708.4%-2431.0pp | 1722.6% | N/A |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -73.7%+15.9pp | -89.6%-103.8pp | 14.2%+41.2pp | -27.1%-112.9pp | 85.9%+91.7pp | -5.8%-22.8pp | 17.0% | N/A |
| Current Ratio | 0.38+0.2 | 0.130.0 | 0.13-0.1 | 0.26+0.2 | 0.10-0.1 | 0.21+0.1 | 0.08-0.1 | 0.15 |
| Debt-to-Equity | -1.39-0.1 | -1.31+0.8 | -2.130.0 | -2.14+0.2 | -2.35-0.6 | -1.74-0.1 | -1.59+0.1 | -1.70 |
| FCF Margin | -3438.2%-1973.0pp | -1465.2%-16.8pp | -1448.4%-146.3pp | -1302.1%-573.4pp | -728.7%-3333.7pp | 2604.9%+3478.1pp | -873.2% | N/A |
Note: Shareholder equity is negative (-$37.6M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.37), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Odyssey Marine Expl Inc's annual revenue?
Odyssey Marine Expl Inc (OMEX) reported $354K in total revenue for fiscal year 2025. This represents a -54.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Odyssey Marine Expl Inc's revenue growing?
Odyssey Marine Expl Inc (OMEX) revenue declined by 54% year-over-year, from $769K to $354K in fiscal year 2025.
Is Odyssey Marine Expl Inc profitable?
No, Odyssey Marine Expl Inc (OMEX) reported a net income of -$43.1M in fiscal year 2025, with a net profit margin of -12180.6%.
What is Odyssey Marine Expl Inc's EBITDA?
Odyssey Marine Expl Inc (OMEX) had EBITDA of -$13.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Odyssey Marine Expl Inc have?
As of fiscal year 2025, Odyssey Marine Expl Inc (OMEX) had $3.5M in cash and equivalents against $11.6M in long-term debt.
What is Odyssey Marine Expl Inc's operating margin?
Odyssey Marine Expl Inc (OMEX) had an operating margin of -3797.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Odyssey Marine Expl Inc's net profit margin?
Odyssey Marine Expl Inc (OMEX) had a net profit margin of -12180.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Odyssey Marine Expl Inc's free cash flow?
Odyssey Marine Expl Inc (OMEX) generated -$8.9M in free cash flow during fiscal year 2025. This represents a -1688.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Odyssey Marine Expl Inc's operating cash flow?
Odyssey Marine Expl Inc (OMEX) generated -$8.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Odyssey Marine Expl Inc's total assets?
Odyssey Marine Expl Inc (OMEX) had $15.8M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Odyssey Marine Expl Inc's capital expenditures?
Odyssey Marine Expl Inc (OMEX) invested $16K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Odyssey Marine Expl Inc's current ratio?
Odyssey Marine Expl Inc (OMEX) had a current ratio of 0.37 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Odyssey Marine Expl Inc's debt-to-equity ratio?
Odyssey Marine Expl Inc (OMEX) had a debt-to-equity ratio of -0.31 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Odyssey Marine Expl Inc's return on assets (ROA)?
Odyssey Marine Expl Inc (OMEX) had a return on assets of -272.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Odyssey Marine Expl Inc's cash runway?
Based on fiscal year 2025 data, Odyssey Marine Expl Inc (OMEX) had $3.5M in cash against an annual operating cash burn of $8.8M. This gives an estimated cash runway of approximately 5 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
Why is Odyssey Marine Expl Inc's debt-to-equity ratio negative or unusual?
Odyssey Marine Expl Inc (OMEX) has negative shareholder equity of -$37.6M as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Odyssey Marine Expl Inc's Piotroski F-Score?
Odyssey Marine Expl Inc (OMEX) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Odyssey Marine Expl Inc's earnings high quality?
Odyssey Marine Expl Inc (OMEX) has an earnings quality ratio of 0.21x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Odyssey Marine Expl Inc cover its interest payments?
Odyssey Marine Expl Inc (OMEX) has an interest coverage ratio of -134.3x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Odyssey Marine Expl Inc?
Odyssey Marine Expl Inc (OMEX) scores 0 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.