Assay

Financial-condition grades for SEC filers

Company Report · as of Oct 9, 2026

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MethodCoverageAbout
Odyssey Marine Exploration Inc.OMEX · other
GradeNonecomputable_factors_below_threshold: 4 of 14 inputs computable; 7 are required
Reliability0.83 AUCfailure model, filers with $12.5M to $120M assets; 95% interval 0.79 to 0.86; 201 events, 2020 to 2025
Peer failure rate1.07% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025
Size band$12.5M to $120M assetstotal assets $15.8M[1]
Standard universeoutsiderevenue above $1M and assets above $10M[1-2]
Warningsshort runway, late filer, thin datanot computable: dilution, distress
Inputs computable4 of 14
Graded fromfilings received through Aug 5, 202665 days before the rescan; every figure keyed to the SEC receipt date
Last close$0.692026-10-08; market equity $40.8M; iex feed
Price used in gradeNone
Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history
$2$4NovDecJanFebMarAprMayJunJulAugSepOct$0.66
ABCDE20132014201520162017201820192020202120222023202420252026

Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date.

Open this report as it stood on

Letter setLetterPercentileBand
Jan 21, 2012nonen/a
Mar 21, 2012nonen/aQ2
Mar 21, 2015E100.0Q2
Apr 21, 2016nonen/aQ1
Apr 21, 2022D74.5Q1
Apr 21, 2023D63.3Q2
May 21, 2024nonen/aQ2

Each date opens the report as it stood on that rescan.

Business, in the company's words. Opening of Item 1 of the 10-K received Mar 31, 2026; the document on sec.gov.

Odyssey Marine Exploration, Inc. discovers, validates, and develops high-value seafloor mineral resources in an environmentally responsible manner, providing access to critical resources that can transform societies and economies for generations to come. We have a diversified mineral portfolio that includes projects controlled by us and other projects in which we are a minority owner and service provider. In addition, our team is continually working to add new projects to the portfolio by identifying potential new assets through a proprietary “Global Prospectivity Program” leading to the acquisition of appropriate rights.

Warnings [top]

Short runway. cash runway is 2.1 months[3]
Late filer. found 1 NT 10-K/Q filings in the last eight quarters
Thin data. 4 of 14 grade factors are computable; minimum is 7

7 checks ran; none of them enters the letter. The checks are listed on the warnings screen.

The Fourteen Inputs [top]

Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.

InputPercentile, 0 to 100ValueSourcePeer medianPercentilePeersPeriod end
Profitability, sleeve percentile 0.6
Gross profitabilitynot computable27.1%
one or more required annual facts are missing
Return on invested capitalnot computable10.0%
average invested capital must exceed $1,000,000
Accruals ratio(199.4%)[1,4-6](5.9%)0.65062025-12-31
Gross margin stability, five yearsnot computable2.2 pts
five annual gross margins are required; found 0
Solvency, sleeve percentile 95.5
Twelve-month failure probabilitynot computable0.04%
latest liabilities, cash plus short-term investments, book equity, and shares are required
Altman Z double-prime(75.75)[1,7-12]2.0598.23862025-12-31
Net debt to EBITDAnot computable2.52x
EBITDA must exceed $100,000
Interest coveragenot computable2.18x
latest aligned inputs end 2023-12-31; latest annual assets end 2025-12-31
Current ratio0.37x[7-8]1.32x92.95062025-12-31
Growth and financing, sleeve percentile 98.3
Revenue growth, three-year compound(35.8%)[2,13-15]5.1%98.34032025-12-31
Free cash flow growth, three-year compoundnot computable8.7%
current FCF must be positive and base FCF must exceed $100,000
Reinvestment ratenot computable11.9%
NOPAT must exceed $100,000
Asset growth, three yearsnot computable4.1%
four consecutive annual observations are required
Net share issuance, one yearnot computable(0.4%)
prior share count is 81 days earlier

Gross profitability. Revenue less cost of goods sold, over total assets.

Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.

Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.

Twelve-month failure probability. CHS model; lower is stronger.

Net debt to EBITDA. Lower is stronger.

Net share issuance, one year. Split-adjusted; lower is stronger.

Among 336 Peers [top]

What the Price Implies [top]

Market measures at the 2026-10-08 close. None enters the grade. Percentile among graded peers with the same measure.

MeasureValuePeer medianPercentileReading
Twelve-month price change, skipping the latest month(56.1%)2.0%8hotter than 8 of 100 peers
Distance from 52-week high(84.1%)(26.8%)4closer to its high than 4 of 100 peers
EBIT to enterprise value(34.3%)4.4%4pricier than 96 of 100 peers
Free cash flow yield(23.0%)4.1%8pricier than 92 of 100 peers
Book value to price(1.08)0.341pricier than 99 of 100 peers
Sales to price0.010.702pricier than 98 of 100 peers
Composite equity issuance, five years153.9%(8.8%)95more equity-funded than 95 of 100 peers
Relative strength against the sector, log excess return(0.97)(0.13)8ahead of 8 of 100 peers

Inputs: market equity $38.5M; EBIT -$13.4M; free cash flow -$8.9M; book equity -$41.7M; sales $353,719; debt $3.0M; cash $2.3M[16].

Diagnostics [top]

Diagnostics do not feed the grade.

Piotroski F-score: None of 9, period end 2025-12-31
Return on assets above zero(233.0%)✗ fail[4,6]
Operating cash flow above zero-$8.8M✗ fail[5]
Return on assets improved(301.8 pts)✗ fail[4,6,17-18]
Operating cash flow exceeds net income$34.2M✓ pass[4-5]
Long-term leverage felln/a[1,6,18]
Current ratio improved11.7 pts✓ pass[7-8,19-20]
No new shares issuedn/a[21-22]
Gross margin improvedn/a
Asset turnover improved(1.5 pts)✗ fail[2,6,13,18]
Cash, filings, liquidity
Cash and equivalents$2.3M[3]
Operating cash flow, four quarters-$13.4M[3,5,23-26]
Months of runway2.1
Late filings, two years1
NT 10-K or NT 10-Q
Days since last periodic filing59
10-Q received Aug 11, 2026
Median daily dollar volume$206,970
63 sessions
Days since newest grade input65

Downloads [top]

Sources [top]

Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.

#ConceptXBRL tagValuePeriod endReceivedFormLinks
1assetsus-gaap:Assets$15.8M2025-12-312026-03-3110-Kfiling · viewer · series
2revenueus-gaap:RevenueFromContractWithCustomerIncludingAssessedTax$353,7192025-12-312026-03-3110-Kfiling · viewer · series
3cashus-gaap:CashAndCashEquivalentsAtCarryingValue$2.3M2026-06-302026-08-1110-Qfiling · viewer · series
4net incomeus-gaap:NetIncomeLoss-$43.1M2025-12-312026-03-3110-Kfiling · viewer · series
5operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities-$8.8M2025-12-312026-03-3110-Kfiling · viewer · series
6assetsus-gaap:Assets$18.5M2024-12-312026-03-3110-Kfiling · viewer · series
7current assetsus-gaap:AssetsCurrent$4.4M2025-12-312026-03-3110-Kfiling · viewer · series
8current liabilitiesus-gaap:LiabilitiesCurrent$11.7M2025-12-312026-03-3110-Kfiling · viewer · series
9retained earningsus-gaap:RetainedEarningsAccumulatedDeficit-$323.5M2025-12-312026-03-3110-Kfiling · viewer · series
10operating incomeus-gaap:OperatingIncomeLoss-$13.4M2025-12-312026-03-3110-Kfiling · viewer · series
11book equityus-gaap:StockholdersEquity-$37.6M2025-12-312026-03-3110-Kfiling · viewer · series
12liabilitiesus-gaap:Liabilities$91.4M2025-12-312026-03-3110-Kfiling · viewer · series
13revenueus-gaap:RevenueFromContractWithCustomerIncludingAssessedTax$768,6772024-12-312026-03-3110-Kfiling · viewer · series
14revenueus-gaap:Revenues$9,3272023-12-312024-05-1710-Kfiling · viewer · series
15revenueus-gaap:RevenueFromContractWithCustomerIncludingAssessedTax$1.3M2022-12-312024-05-1710-Kfiling · viewer · series
16shares outstandingdei:EntityCommonStockSharesOutstanding58,691,3892026-08-072026-08-1110-Qfiling · viewer · series
17net incomeus-gaap:NetIncomeLoss$15.7M2024-12-312026-03-3110-Kfiling · viewer · series
18assetsus-gaap:Assets$22.8M2023-12-312025-03-3110-Kfiling · viewer · series
19current assetsus-gaap:AssetsCurrent$5.8M2024-12-312026-03-3110-Kfiling · viewer · series
20current liabilitiesus-gaap:LiabilitiesCurrent$22.5M2024-12-312026-03-3110-Kfiling · viewer · series
21shares outstandingdei:EntityCommonStockSharesOutstanding58,574,1152026-06-152026-08-0510-K/Afiling · viewer · series
22shares outstandingdei:EntityCommonStockSharesOutstanding58,225,4622026-03-262026-03-3110-Kfiling · viewer · series
23operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities-$8.5M2026-06-302026-08-1110-Qfiling · viewer · series
24operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities-$3.8M2026-03-312026-05-1210-Qfiling · viewer · series
25operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities-$6.0M2025-09-302025-11-1210-Qfiling · viewer · series
26operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities-$3.9M2025-06-302026-08-1110-Qfiling · viewer · series

Limitations [top]

Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.

Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.

Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.

Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.

Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.

Informational and educational only. Not investment advice. SEC and market data may contain errors.

If you have any comments about this page, the methodology and every line of code that produced it are in the public repository. However, due to the limited number of personnel, we are unable to provide a direct response.

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Source
GitHub · ezrakruger.cc
Photographs from Wikimedia Commons

bull: Raphael Schön from Vienna, Austria, CC BY 2.0; bear: U. S. Fish and Wildlife Service - Northeast Region, Public domain; elk: Oregon Department of Fish & Wildlife, Public domain; tortoise: NPS, Public domain; sloth: Charles J. Sharp, CC BY-SA 3.0; fox: Cp9asngf, CC BY-SA 4.0; sector-business_equipment: Sangitiana Fararano, CC BY-SA 2.0; sector-healthcare: User:Squidonius, myself, and User:Beliason (assumed)., CC BY-SA 4.0; sector-manufacturing: unknown, CC BY-SA 2.0; sector-shops: Wilfredor, CC BY-SA 4.0; sector-consumer_nondurables: Nielsoncaetanosalmeron, CC BY 4.0; sector-utilities: Lijovklm, CC BY-SA 4.0; sector-consumer_durables: Stilfehler, CC BY-SA 4.0; sector-chemicals: PEO ACWA, CC BY 2.0; sector-energy: Arne Hückelheim, CC BY-SA 3.0; sector-telecom: Wikideas1, CC0; sector-other: Downtowngal, CC BY-SA 4.0.

Updated Oct 9, 2026