Research from Water Tower Research, Water Tower Research

Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Research from Water Tower Research

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<ul><li>4Q23 results highlight careful cash management.</li><li>TMC reported 4Q23 results, including a significant decline in Y/Y Exportation and Evaluation expenses, which benefited from the non-recurrence of a 2022 pilot project collection campaign, as well as lower SG&amp;A expenses ($6.5 million versus $7 million in the year-ago period).</li><li>Use of cash for operating activities also declined from $19.8 million to $15.2 million and overall quarterly operating loss was narrowed from $111.3 million in 4Q22 to $33.2 million in the reported quarter, demonstrating management’s careful use of cash and a steady SG&amp;A burn rate.</li></ul>

4Q23 results highlight careful cash management.TMC reported 4Q23 results, including a significant decline in Y/Y Exportation and Evaluation expenses, which benefited from the non-recurrence of a 2022 pilot project collection campaign, as well as lower SG&amp;A expenses ($6.5 million versus $7 million in the year-ago period).Use of cash for operating activities also declined from $19.8 million to $15.2 million and overall quarterly operating loss was narrowed from $111.3 million in 4Q22 to $33.2 million in the reported quarter, demonstrating management’s careful use of cash and a steady SG&amp;A burn rate.

TMC the Metals Company, Inc. - Pivotal Year Ahead

TMC the metals co

TMC the Metals Company, Inc. - Pivotal Year Ahead