MONTREAL, April 15, 2026 /PRNewswire/ — Vision Marine Technologies Inc. (NASDAQ:VMAR) (“Vision Marine” or the “Company”), a company specializing in high-voltage marine propulsion and a vertically integrated marine retail platform, yesterday reported financial results for the three-month and six-month periods ended February 28, 2026, highlighting rapid execution and significant operational improvements across its Nautical Ventures Group Inc. (“NVG”) platform.
Since the acquisition of NVG on June 20, 2025, the Company has delivered substantial improvements in working capital efficiency, leverage reduction, and operating performance, positioning NVG near EBITDA breakeven within less than one year of integration.
Key Achievements at NVG Segment Since Acquisition
- Inventory reduced by over $10.6 million (from $35.1M to $24.5M)
- Floor plan financing reduced by $23.8 million (from $42.0M to $18.2M)
- NVG EBITDA loss reduced by 99%, from $235,477 in Q1 2026 to $2,760 in Q2 2026
- Real estate footprint optimized from 6 to 4 properties
- $3.8 million cash generated from real estate monetization initiatives with additional cost savings expected from footprint rationalization
- Further monetization underway, with two additional properties targeted for sale over the remainder of the current fiscal year
These results reflect disciplined execution of a focused integration strategy centered on liquidity, inventory optimization, and operational efficiency.
Second Quarter Highlights
(All comparisons are to the immediately preceding quarter ended November 30, 2025, given that the prior year equivalent period excluded the NVG Segment. Year-over-year comparisons are presented in the Company’s Management Discussion and Analysis for the three-month and six-month periods ended February 28, 2026, filed with the U.S. Securities and Exchange Commission on a report on Form 6-K on April 14, 2026. See Non-GAAP Financial Measure section below for reconciliation of EBITDA loss)
- Revenue: $14,531,484
- Gross Profit: $4,397,468 (30% margin, up from 27% margin)
- Net Loss: $1,864,924 (improved by 56.8%)
- EBITDA Loss: $2,140,022, (improved by 9.0% improvement compared to $2,350,718 in Q1)
- NVG Segment EBITDA: Near breakeven
Operational Momentum
The Company continues to demonstrate strong operating leverage, driven by:
- Improved inventory turns and purchasing discipline
- Reduction in financing burden through aggressive deleveraging
- Expansion of higher-margin product mix
- Strategic partnerships with OEMs including Yamaha and Twin Vee
Management Commentary
Alexandre Mongeon, Chief Executive Officer, commented:
“The transformation of NVG has been both rapid and measurable. In less than a year, we have significantly reduced inventory, deleveraged the balance sheet, and brought the segment to near EBITDA breakeven. This validates our operating model and positions us for continued performance improvement.”
Raffi Sossoyan, Chief Financial Officer, added:
“The scale of working capital improvements since acquisition is substantial. We have reduced inventory and floor plan exposure while generating cash through asset optimization. These actions materially strengthen our financial foundation and support our path toward sustained profitability.”
Balance Sheet & Liquidity
As …