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Vision Marine Technologies (VMAR)

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Vision Marine Technologies Inc. is a marine technology company focused on electrification in the recreational boating market. The company designs and manufactures electric outboard powertrain systems, electric boats, and related components, positioning its products as alternatives to traditional internal-combustion marine propulsion. Its offering spans both complete watercraft and propulsion technology, giving it exposure to boat buyers, operators, and partners looking to reduce fuel use, noise, and emissions on lakes, rivers, and coastal waters.

The company’s boat portfolio has included models such as the Bruce 22, Fantail 217, VX Electric Pontoon, Volt 180, and Phantom. In addition to selling boats, Vision Marine markets parts, accessories, and related services for recreational boating. Its activities are not limited solely to electric vessels; the company also serves customers across the broader recreational boating market, including products and services tied to conventional power systems.

Vision Marine reports its business through two main segments: sales of electric boats and rentals of electric boats. The rental operation, run through a subsidiary, allows the company to participate in consumer demand for short-term boating experiences while also showcasing electric marine technology in real-world use. The United States represents a major revenue market for the business.

As a listed company, Vision Marine is tied to several themes followed by investors, including clean transportation, leisure marine demand, battery-powered mobility, and the adoption curve for electric propulsion outside the automotive sector.

0.83 USD
0.81 USD
−0.10 (-10.80%)
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Income Statement

Line Item 2025 Q4 2024 Q4 2023 Q4 2022 Q4 2021 Q4
Revenue 13.83M 2.79M 4.2M 7.35M 3.51M
Cost of revenue 9.07M 1.69M 3.06M 4.07M 1.91M
Gross profit 4.77M 1.1M 1.14M 3.29M 1.6M
Operating income -25.78M -16.1M -16.93M -12.77M -12.91M
EBITDA -9.55M -8.98M -14.26M -11.75M -12.49M
Net income -21.65M -10.38M -15.5M -13.11M -15.11M
Income taxes 7.88K -179.04K -207.58K 258.34K 105.59K
Interest expense -810.71K -183.6K -105.54K -184.9K -2.26M
Other operating expenses 15.46M 6.37M 1.89M 0 0
Total operating expenses 30.54M 17.21M 18.07M 16.06M 14.51M
Basic EPS -24.53 -1,135.64 -2,228.34 -211.61 -1,101,600
Diluted EPS -24.53 -1,135.64 -2,228.34 -211.61 -1,101,600

Balance Sheet

Line Item 2025 Q4 2024 Q4 2023 Q4 2022 Q4 2021 Q4
Total assets 69.91M 8.46M 17.84M 29.1M 30.75M
Total liabilities 61.46M 6.23M 9.24M 5.07M 4.18M
Total equity 8.45M 2.23M 8.61M 24.03M 26.57M
Cash & equivalents 7.42M 46.79K 2.48M 5.82M 14.38M
Current assets 58.97M 6.38M 6.27M 11.6M 16.9M
Current liabilities 49.7M 5.86M 7.69M 2.87M 2.14M
Accounts payable 8.61M 3.33M 1.3M 1.03M 672.17K
Receivables 520.77K 136.62K 508.74K 511.75K 370.34K
Inventories 36.87M 4.6M 1.81M 2.09M 1.57M
Goodwill 7.15M 9.35M 7.16M
Long-term debt 1.37M 264.8K 24.96K 155.26K 42.75K

Cash Flow

Line Item 2022 Q4 2025 Q4 2024 Q4 2023 Q4 2021 Q4
Operating cash flow -11.64M -8.93M -8.28M -10.57M -8.25M
Investing cash flow 615.61K 1.54M 326.14K -428.33K -9.47M
Financing cash flow 7.73M 14.76M 5.52M 9.03M 34.57M
Change in cash -3.3M 7.37M -2.44M -1.97M 16.85M
Net income -14.06M -21.65M -10.38M -15.5M -15.11M
Kind Filing Date Link
edgar index 6-K — Vision Marine Technologies Inc. View Filing
edgar index 6-K — Vision Marine Technologies Inc. View Filing
edgar index 4 — Vision Marine Technologies Inc. View Filing
edgar index 4 — Vision Marine Technologies Inc. View Filing
form 4 Form 4 — HRT FINANCIAL LP View Filing
form 4 Form 4 — HRT FINANCIAL LP View Filing
edgar index 4 — Vision Marine Technologies Inc. View Filing
form 4 Form 4 — HRT FINANCIAL LP View Filing
form 4 Form 4 — HRT FINANCIAL LP View Filing
edgar index 4 — Vision Marine Technologies Inc. View Filing
form 4 Form 4 — HRT FINANCIAL LP View Filing
edgar index 4 — Vision Marine Technologies Inc. View Filing
form 4 Form 4 — HRT FINANCIAL LP View Filing
form 4 Form 4 — HRT FINANCIAL LP View Filing
edgar index 4 — Vision Marine Technologies Inc. View Filing
form 4 Form 4 — HRT FINANCIAL LP View Filing
form 4 Form 4 — HRT FINANCIAL LP View Filing
edgar index 6-K — Vision Marine Technologies Inc. View Filing
edgar index 4 — Vision Marine Technologies Inc. View Filing
form 4 Form 4 — HRT FINANCIAL LP View Filing
edgar index 4 — Vision Marine Technologies Inc. View Filing
form 4 Form 4 — HRT FINANCIAL LP View Filing
edgar index 4 — Vision Marine Technologies Inc. View Filing
form 4 Form 4 — HRT FINANCIAL LP View Filing
edgar index 4 — Vision Marine Technologies Inc. View Filing
form 4 Form 4 — HRT FINANCIAL LP View Filing
edgar index 3 — Vision Marine Technologies Inc. View Filing
edgar index 4 — Vision Marine Technologies Inc. View Filing
form 3 Form 3 — HRT FINANCIAL LP View Filing
form 4 Form 4 — HRT FINANCIAL LP View Filing
form 4 Form 4 — HRT FINANCIAL LP View Filing
form 4 Form 4 — HRT FINANCIAL LP View Filing
edgar index 4 — Vision Marine Technologies Inc. View Filing
edgar index 4 — Vision Marine Technologies Inc. View Filing
form 4 Form 4 — HRT FINANCIAL LP View Filing
edgar index 3 — Vision Marine Technologies Inc. View Filing
edgar index 4 — Vision Marine Technologies Inc. View Filing
form 3 Form 3 — HRT FINANCIAL LP View Filing
form 4 Form 4 — HRT FINANCIAL LP View Filing
form 4 Form 4 — HRT FINANCIAL LP View Filing
form 4 Form 4 — HRT FINANCIAL LP View Filing
edgar index 6-K — Vision Marine Technologies Inc. View Filing
edgar index 6-K — Vision Marine Technologies Inc. View Filing
edgar index 6-K — Vision Marine Technologies Inc. View Filing
edgar index 6-K — Vision Marine Technologies Inc. View Filing
edgar index 6-K — Vision Marine Technologies Inc. View Filing
edgar index SCHEDULE 13G — Vision Marine Technologies Inc. View Filing
edgar index 6-K — Vision Marine Technologies Inc. View Filing
edgar index SCHEDULE 13G/A — Vision Marine Technologies Inc. View Filing
edgar index 6-K — Vision Marine Technologies Inc. View Filing
edgar index 6-K — Vision Marine Technologies Inc. View Filing
edgar index 424B5 — Vision Marine Technologies Inc. View Filing
edgar index 6-K — Vision Marine Technologies Inc. View Filing
edgar index 424B4 — Vision Marine Technologies Inc. View Filing
edgar index 20-F/A — Vision Marine Technologies Inc. View Filing
edgar index 6-K — Vision Marine Technologies Inc. View Filing
edgar index F-1MEF — Vision Marine Technologies Inc. View Filing
edgar index EFFECT — Vision Marine Technologies Inc. View Filing
edgar index CORRESP — Vision Marine Technologies Inc. View Filing
edgar index F-1/A — Vision Marine Technologies Inc. View Filing
edgar index CORRESP — Vision Marine Technologies Inc. View Filing
edgar index CORRESP — Vision Marine Technologies Inc. View Filing
edgar index CORRESP — Vision Marine Technologies Inc. View Filing
edgar index EFFECT — Vision Marine Technologies Inc. View Filing
edgar index CORRESP — Vision Marine Technologies Inc. View Filing
edgar index CORRESP — Vision Marine Technologies Inc. View Filing
edgar index CORRESP — Vision Marine Technologies Inc. View Filing
edgar index F-1 — Vision Marine Technologies Inc. View Filing
edgar index CORRESP — Vision Marine Technologies Inc. View Filing
edgar index CORRESP — Vision Marine Technologies Inc. View Filing
edgar index FWP — Vision Marine Technologies Inc. View Filing
edgar index 6-K — Vision Marine Technologies Inc. View Filing
edgar index F-3 — Vision Marine Technologies Inc. View Filing
edgar index 6-K — Vision Marine Technologies Inc. View Filing
edgar index 20-F — Vision Marine Technologies Inc. View Filing
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