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Odyssey Marine Exploration

OMEX
13
Specialty Business Services · Basic Materials
Price
$0.71
+0.02 (+2.64%)
Market Cap
$882,176
Exchange
NASDAQ Capital Market
Winston Score
13
Winston is worried
Weak fundamentals across most pillars.
Data as of Jul 28, 2026 · filings through Mar 31, 2026

Share count rising — dilution

+195.2% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 13.3M (2021) → 39.3M (2025)

Odyssey Marine Exploration is a company that searches for sunken shipwrecks on the ocean floor and tries to recover valuable cargo like gold, silver, and artifacts. It also has a minerals division that explores the deep sea for phosphate and other natural resources. The company's main customers are governments, private investors, and mineral buyers, and it operates in the deep-ocean exploration industry.

Odyssey makes money through a mix of project-based contracts, revenue sharing from recovered cargo, and partnerships with governments or private entities to develop seabed mineral deposits. It operates globally, with projects spanning the Atlantic Ocean and international waters, though it remains a very small company with a market cap near zero. The financial metrics above reflect a business that spends far more than it earns, and the biggest risk is that deep-sea recovery and mining projects are extremely expensive, legally complex, and uncertain — meaning the company could run out of funding before any project pays off.

Winston Score History

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-83.3% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-91.9% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (3%)

Research and development spending

Insider Activity

20.5%ownership

Insiders own a meaningful stake in the company

Cash Runway

~8 months

$10M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Short runway — potential dilution ahead through share issuance

Cash watch

Odyssey Marine Exploration has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin
-3003.3%
Thin — -3003.3% gross margin
Operating Margin
-28491.5%
Losing money on operations — -28491.5%
ROCE
N/A
Data not available

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Growth

Sales YoY
-65.6%
Shrinking sales (-65.6% YoY)
EPS YoY
-276.0%
Earnings shrinking (-276.0% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

EPS Consistency
0/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion
N/A
Data not available
FCF Margin
-4453.4%
Burning cash (-4453.4%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity
N/A
Data not available
Interest Cover
N/A
Data not available

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Valuation

P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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