ODYSSEY MARINE EXPLORATION INC Segments Disclosure
NOTE 18 – SEGMENT REPORTING
Operating segments are defined as components of an entity for which separate financial information is available and regularly reviewed by the chief operating decision maker (“CODM”). The Company manages its operations as a single segment for purposes of assessing performance and making decisions. The segment’s accounting policies are set forth in Note 2, Summary of Significant Accounting Policies. The Company’s CODM is its. The Company has determined that it operates in one operating segment and one reportable segment, as the CODM reviews financial information presented on a consolidated basis, using the operating expenses and interest expense, as presented on the face of the income statement, for purposes of making operating decisions, allocating resources, and evaluating financial performance. The measure of segment assets is reported on the balance sheet as total consolidated assets.
Significant expenses regularly reviewed by the CODM are Professional fees, Operations and research, excluding compensation, which is reviewed separately and employee compensation. The following table presents the details of the significant segment expenses, segment net revenues, and the segment performance measure, net loss, in the periods indicated:
|
For the Year Ended December 31, |
|
|||||
|
2025 |
|
|
2024 |
|
||
Total revenue |
$ |
353,719 |
|
|
$ |
768,677 |
|
|
|
|
|
|
|
||
Less significant expenses: |
|
|
|
|
|
||
Professional fees |
|
4,476,279 |
|
|
|
2,871,333 |
|
Operations and research (excluding compensation) |
|
2,122,783 |
|
|
|
3,949,669 |
|
Compensation: |
|
|
|
|
|
||
Salaries and wages |
|
6,727,498 |
|
|
|
3,120,544 |
|
Share-based compensation |
|
222,100 |
|
|
|
2,011,605 |
|
Total compensation |
|
6,949,598 |
|
|
|
5,132,149 |
|
Total significant expenses |
|
13,548,660 |
|
|
|
11,953,151 |
|
Other segment items (gain)/loss (1) |
|
35,275,463 |
|
|
|
(17,431,603 |
) |
Total significant expenses and other segment items |
$ |
48,824,123 |
|
|
$ |
(5,478,452 |
) |
|
|
|
|
|
|
||
Net income/(loss) |
$ |
(48,470,404 |
) |
|
$ |
6,247,129 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 31, 2026 | Showing above |
| 2024 | Mar 31, 2025 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.