Odyssey Marine Expl Inc Financials
Odyssey Marine Expl Inc (OMEX) reported $354K in revenue for fiscal year 2025, down 54.0% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).
External financing, not customer revenue, is carrying the business as fixed operating costs and interest outrun a tiny top line.
From FY2024 to FY2025, shares outstanding nearly doubled while operating cash flow swung from$642K to-$8.8M ; that combination says the business was again funded mainly by new capital, not by self-financing operations. The same pattern sits behind the balance sheet: liabilities rose to$53.5M as assets slipped to$15.8M , pushing equity back to-$37.6M .
The core cost base looks largely fixed: FY2025 revenue was only
Cash burn is also operational rather than expansionary. Free cash flow was
Financial Health Signals
Odyssey Marine Expl Inc does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Odyssey Marine Expl Inc scores -31.32, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($54.3M) relative to total liabilities ($53.5M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Odyssey Marine Expl Inc passes 2 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
Odyssey Marine Expl Inc reported a net loss of $43.1M while operations used $8.8M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Odyssey Marine Expl Inc reported an operating loss of $13.4M against $4.9M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
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.
Cash & Balance Sheet
Odyssey Marine Expl Inc recorded an outflow of $8.9M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 1688.8% from the prior year.
Odyssey Marine Expl Inc held $3.5M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
Not reported for fiscal year 2025.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not reported for fiscal year 2025.
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.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
OMEX Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $184K | $354K-54.0% | $769K+8141.4% | $9K-94.9% | $184K-80.0% | $921K-54.8% | $2.0M-33.7% | $3.1M-6.2% | $3.3M+162.4% | $1.2M-73.3% | $4.7M-12.1% | $5.3M+302.9% | $1.3M-94.5% | $23.9M+81.2% | $13.2M-16.1% | $15.7M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $1.4M+485.8% | $247K-64.4% | $695K+195.0% | $236K-43.2% | $415K |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $3.9M+260.9% | $1.1M-95.4% | $23.2M+79.1% | $13.0M-15.3% | $15.3M |
| SG&A Expenses | $18.2M | $11.0M+13.5% | $9.7M+41.3% | $6.8M-27.4% | $9.4M+49.1% | $6.3M+68.6% | $3.7M-31.7% | $5.5M-2.9% | $5.7M-8.3% | $6.2M-22.5% | $8.0M-30.5% | $11.5M+17.0% | $9.8M-30.9% | $14.2M+33.5% | $10.6M+12.9% | $9.4M |
| Operating Income | -$20.9M | -$13.4M-11.9% | -$12.0M-16.1% | -$10.3M+42.1% | -$17.9M-19.4% | -$15.0M-18.3% | -$12.6M-22.1% | -$10.3M-70.5% | -$6.1M+27.4% | -$8.4M+20.8% | -$10.6M+51.0% | -$21.5M+23.7% | -$28.2M-66.2% | -$17.0M-8.9% | -$15.6M-1.4% | -$15.4M |
| Interest Expense | $2.9M | $4.9M-24.3% | $6.5M+29.3% | $5.0M+119.0% | $2.3M-78.7% | $10.8M+56.6% | $6.9M+29.0% | $5.4M+70.6% | $3.1M+15.2% | $2.7M+13.8% | $2.4M-47.3% | $4.6M+191.7% | $1.6M-56.4% | $3.6M-42.8% | $6.3M+442.3% | $1.2M |
| Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0+100.0% | -$481K-197.0% | $496K | N/A | N/A |
| Net Income | -$39.4M | -$43.1M-375.2% | $15.7M+192.9% | $5.3M+124.2% | -$22.1M-121.8% | -$10.0M+32.8% | -$14.8M-41.9% | -$10.4M-101.8% | -$5.2M+33.3% | -$7.8M-22.9% | -$6.3M+65.3% | -$18.2M+31.2% | -$26.5M-146.5% | -$10.7M+40.9% | -$18.2M-12.1% | -$16.2M |
| EPS (Diluted) | — | -$1.10 | $0.07 | $0.27+121.1% | -$1.28-70.7% | -$0.75+46.8% | -$1.41 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: R&D Expenses.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
OMEX Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $15.8M-14.3% | $18.5M-18.7% | $22.8M+64.0% | $13.9M+55.7% | $8.9M-24.2% | $11.8M+120.6% | $5.3M-2.6% | $5.5M+84.1% | $3.0M-41.5% | $5.1M-26.5% | $6.9M-72.4% | $25.1M-51.2% | $51.5M+91.3% | $26.9M+14.9% | $23.4M |
| Current Assets | $4.4M-24.4% | $5.8M+18.2% | $4.9M+22.7% | $4.0M+19.7% | $3.3M-52.0% | $6.9M+464.2% | $1.2M-73.4% | $4.6M+149.3% | $1.8M-33.0% | $2.8M-22.3% | $3.5M-69.1% | $11.5M-65.9% | $33.6M+144.1% | $13.8M+37.4% | $10.0M |
| Cash & Equivalents | $3.5M-26.6% | $4.8M+19.1% | $4.0M+178.6% | $1.4M-36.5% | $2.3M-63.1% | $6.2M+2788.2% | $213K-92.3% | $2.8M+151.5% | $1.1M-33.3% | $1.7M-25.8% | $2.2M-28.7% | $3.1M-85.3% | $21.3M+111.2% | $10.1M+26.7% | $8.0M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $675K+114.5% | $315K-24.9% | $419K-24.8% | $557K |
| Accounts Receivable | $67K-76.4% | $286K+159.0% | $110K+1368.0% | $8K-97.2% | $269K+67.8% | $160K-62.0% | $422K-46.6% | $789K+239.7% | $232K-51.0% | $474K-40.9% | $802K-87.6% | $6.5M+3028.5% | $207K-90.2% | $2.1M+319.9% | $501K |
| Total Liabilities | $53.5M+54.0% | $34.7M-37.1% | $55.2M-5.3% | $58.3M+67.0% | $34.9M-11.3% | $39.4M+13.8% | $34.6M+26.5% | $27.4M+7.0% | $25.6M+6.3% | $24.1M+4.2% | $23.1M-34.9% | $35.5M-7.2% | $38.3M-19.7% | $47.7M+44.7% | $32.9M |
| Current Liabilities | $11.7M-48.0% | $22.5M-28.6% | $31.5M-24.8% | $41.8M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $19.0M-31.9% | $27.9M-28.3% | $39.0M+106.9% | $18.8M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $3.0M-30.8% | $4.3M+54.8% | $2.8M-82.1% | $15.7M+27.4% | $12.3M-23.4% | $16.0M+52.9% | $10.5M |
| Total Equity | -$37.6M-131.8% | -$16.2M+50.0% | -$32.5M+27.0% | -$44.5M-70.8% | -$26.0M+5.8% | -$27.6M+5.7% | -$29.3M-33.8% | -$21.9M+3.2% | -$22.6M-19.1% | -$19.0M-17.2% | -$16.2M-55.7% | -$10.4M-178.8% | $13.2M+163.6% | -$20.8M-112.4% | -$9.8M |
| Retained Earnings | -$323.5M-15.4% | -$280.4M+5.3% | -$296.1M+1.8% | -$301.4M-9.6% | -$275.1M-3.8% | -$265.1M-5.9% | -$250.3M-4.4% | -$239.9M-2.2% | -$234.7M-3.4% | -$227.0M-2.9% | -$220.6M-9.0% | -$202.4M-15.0% | -$176.0M-6.5% | -$165.2M-12.4% | -$147.0M |
Not reported in any period shown, so not listed: Goodwill.
OMEX Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$13.4M | -$8.8M-1477.7% | $642K+106.3% | -$10.2M+0.4% | -$10.2M-88.2% | -$5.4M+40.9% | -$9.2M-68.7% | -$5.4M+15.6% | -$6.5M-10.3% | -$5.9M+29.6% | -$8.3M+51.6% | -$17.2M+39.9% | -$28.6M-42.3% | -$20.1M-200.0% | -$6.7M+56.0% | -$15.2M |
| Capital Expenditures | N/A | $16K-80.9% | $84K-93.7% | $1.3M-8.8% | $1.5M+7620.9% | $19K | $0-100.0% | $15K+61.0% | $10K | N/A | $130K+167.9% | $48K-98.4% | $3.0M-34.1% | $4.5M+376.1% | $946K-2.8% | $974K |
| Free Cash Flow | N/A | -$8.9M-1688.8% | $558K+104.8% | -$11.5M+1.5% | -$11.7M-114.7% | -$5.4M+40.7% | -$9.2M-68.2% | -$5.5M+15.5% | -$6.5M | N/A | -$8.4M+51.0% | -$17.2M+45.4% | -$31.5M-28.3% | -$24.6M-221.8% | -$7.6M+52.8% | -$16.2M |
| Investing Cash Flow | N/A | -$174K-105.8% | -$84K+91.8% | -$1.0M+58.5% | -$2.5M-867.1% | $323K | $0+100.0% | -$15K-101.6% | $994K+1142.5% | $80K+13.8% | $70K | N/A | N/A | -$4.5M-376.1% | -$946K-93.6% | -$489K |
| Financing Cash Flow | $12.4M | $7.7M+3553.7% | $212K-98.5% | $13.8M+16.2% | $11.9M+876.9% | $1.2M-92.0% | $15.1M+426.1% | $2.9M-59.7% | $7.1M+36.8% | $5.2M-31.9% | $7.7M | N/A | N/A | $35.8M+266.8% | $9.8M-58.3% | $23.4M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $10K-98.1% | $516K |
Not reported in any period shown, so not listed: Share Buybacks.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
OMEX Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 72.9%-8.5pp | 81.3%-15.8pp | 97.1%-1.1pp | 98.2%+0.9pp | 97.4% |
| Operating Margin | -3797.1% | -1561.8% | -110834.8% | -9706.3% | -1622.9% | -619.9% | -336.7% | -185.2% | -669.4% | -225.3% | -403.8% | -2131.2% | -71.0% | -118.1% | -97.7% |
| Net Margin | -12180.6% | 2037.0% | 57315.5% | -12004.2% | -1080.8% | -726.7% | -339.7% | -157.9% | -621.5% | -134.9% | -341.6% | -2001.2% | -44.9% | -137.8% | -103.2% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -81.3% | N/A | N/A |
| Return on Assets | -272.0%-356.7pp | 84.7%+61.2pp | 23.5%+182.7pp | -159.2%-47.4pp | -111.8%+14.2pp | -126.0%+69.9pp | -195.9%-101.4pp | -94.5%+166.5pp | -261.1%-136.8pp | -124.2%+139.1pp | -263.4%-157.9pp | -105.5%-84.6pp | -20.9%+46.7pp | -67.6%+1.7pp | -69.3% |
| Current Ratio | 0.37+0.1x | 0.26+0.1x | 0.15+0.1x | 0.10 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.60-0.6x | 1.20+0.8x | 0.35-0.2x | 0.53 |
| Debt-to-Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.93 | N/A | N/A |
| FCF Margin | -2506.3% | 72.6% | -123483.4% | -6354.1% | -591.0% | -450.5% | -177.7% | -197.3% | N/A | -180.1% | -322.9% | -2382.9% | -102.8% | -57.9% | -102.8% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
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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Where Odyssey Marine Expl Inc Ranks
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 54.0% 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.
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.
What is Odyssey Marine Expl Inc's free cash flow?
Odyssey Marine Expl Inc (OMEX) recorded an outflow of $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) recorded an outflow of $8.8M in operating cash flow during fiscal year 2025, representing cash used by 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 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 not reported?
Odyssey Marine Expl Inc (OMEX) has negative shareholder equity of -$37.6M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. 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 Altman Z-Score?
Odyssey Marine Expl Inc (OMEX) has an Altman Z-Score of -31.32, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Odyssey Marine Expl Inc's Piotroski F-Score?
Odyssey Marine Expl Inc (OMEX) has a Piotroski F-Score of 2 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 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) reported a net loss of $43.1M while operations used $8.8M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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) reported an operating loss of $13.4M against $4.9M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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.