Every 10-Q that Odyssey Marine Exploration, Inc (OMEX) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow OMEX and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full OMEX filings page.
Odyssey Marine Exploration reported very limited Q2 2026 revenue of $77,855, down from $135,000 a year earlier, and a net loss attributable to the company of $9.3 million for the quarter and $9.0 million for the first six months of 2026. Operating expenses rose sharply, driving a Q2 operating loss of $7.7 million. Cash and cash equivalents were $2.3 million at June 30, 2026, with a working capital deficit of $22.2 million and a total stockholders’ deficit of $79.9 million.
Total assets were $13.2 million against $93.2 million of liabilities, including $66.8 million of litigation financing and $9.9 million of loans payable, of which most are current. The company discloses that these conditions raise substantial doubt about its ability to continue as a going concern over the next year.
Strategically, Odyssey entered into an April 2026 merger agreement with American Ocean Minerals that values the combined company at approximately $900 million, alongside a $156 million PIPE commitment and an AOM bridge financing of about $75.6 million. AOM has also funded $5.2 million under senior secured notes to Odyssey. Management states that completion of this transaction, which is subject to stockholder approval and other conditions, is expected to help alleviate going-concern issues, but the outcome and timing remain uncertain.
Odyssey Marine Exploration filed an Amendment No. 1 to its quarterly report for the quarter ended March 31, 2026. The amendment’s purpose is to update the exhibits section by adding four agreements that were inadvertently omitted from the original filing.
The newly added exhibits are the Form of CIC Equity Exchange Agreement, Form of CIC Ltd Option Agreement, CIC LLC Option Agreement, and Form of OML Equity Exchange Agreement. The company also filed an updated Section 302 officer certification, while leaving all previously reported financial information and other disclosures unchanged.
Odyssey Marine Exploration reported Q1 2026 results showing very limited revenue and a complex capital structure while pursuing a transformative merger. Marine services revenue was only $22,500, against operating expenses of $6.4 million, leading to a loss from operations of $6.4 million.
Thanks mainly to a $7.5 million gain from changes in derivative warrant and litigation-related liabilities, the company recorded net income of $177,876 and basic EPS of $0.01. Cash was $2.1 million at March 31, 2026, with total assets of $13.4 million, total liabilities of $84.2 million, and a stockholders’ deficit of $70.8 million, including a $65.4 million litigation financing liability.
Management discloses a working capital deficit of about $10.6 million and states that recurring losses, low cash, and reliance on external financing raise substantial doubt about the company’s ability to continue as a going concern. They expect a proposed merger with American Ocean Minerals, valuing the combined company at approximately $1 billion and tied to a $156.0 million AOM PIPE investment and additional equity exchange arrangements, to help address these issues, but completion depends on stockholder approval and other conditions.
Odyssey Marine Exploration (OMEX) filed its Q3 2025 10‑Q, reporting a net loss attributable to OMEX of $13.1 million and stating factors that “raise substantial doubt” about its ability to continue as a going concern. Quarterly revenue was $60,975, against operating expenses of $2.19 million, resulting in a loss from operations of $2.13 million. A non‑cash change in derivative liabilities fair value of $(8.65) million drove most of the bottom‑line loss.
Cash was $5.8 million with a working capital deficit of $10.2 million. Year‑to‑date, the company used $6.03 million in operating cash and raised $7.21 million from financing activities. Litigation financing liabilities stood at $64.7 million; warrant liabilities were $14.2 million at quarter‑end.
To reduce debt and add equity, OMEX exchanged 13,517,698 shares for convertible notes in Q3 and issued 4,373,893 shares under a Securities Purchase Agreement. Shares outstanding were 50,384,898 at September 30, 2025; as of November 5, 2025, they were 55,738,491.
Odyssey Marine Exploration, Inc. (OMEX) reports operational and financing disclosures in its quarterly 10-Q including related-party arrangements, convertible note activity, and joint-venture developments.
The company outlines investments and equity arrangements with CapLat, Two Seas and FourWorld, including warrant positions and equity purchases and conversions. It disclosed Oceanica-ExO notes with 18% interest and conversion rights at $2.75 per unit, and an Equity Exchange that will obligate Odyssey to issue 1,841,137 shares subject to contractual restrictions pending regulatory or project approvals. Significant debt instruments (March 2023 and December 2023 Notes) accrued interest that was frequently capitalized to principal rather than paid in cash.
Tax attributes include approximately $203.8 million of federal NOL carryforwards and $32.1 million of foreign NOL carryforwards, with stated expiration schedules for portions of those NOLs. The filing also discloses a reported $37.1 million arbitral award against Mexico (plus interest) that is subject to set-aside proceedings.