Odyssey Marine Q1 net loss narrows to $347,000; revenue drops 83% to $23,000

• Odyssey Marine Exploration posted net loss attributable to shareholders of USD 347,000, narrowing 84.5% year over year, as revenue fell 83% to USD 23,000.
• Marketing, general and administrative costs climbed to USD 5.75 million, up 221.8% year over year, while operations and research expense rose 18.9% to USD 680,000.
• Total other income swung to expense of USD 6.59 million from income of USD 1.81 million a year earlier, driven by a USD 4.3 million increase in fair-value losses on derivative liabilities.
• Cash and cash equivalents ended March 31, 2026 at USD 2.1 million, while net cash used in operating activities widened to USD 3.83 million from USD 1.96 million.
• Company entered a merger agreement with American Ocean Minerals on April 8, targeting closing in late Q2 to early Q3 2026, subject to stockholder approval.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Odyssey Marine Exploration Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001193125-26-219739), on May 12, 2026, and is solely responsible for the information contained therein.