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NASDAQ · SHIP & BOAT BUILDING & REPAIRING · SMALL CAP

Vision Marine Technologies Inc. VMAR

6 fiscal years on record · CAD · FY2023 reported · SEC filings only
CAD 5.7M
▼ 23.1% YoY
CAD -20.9M
CAD -14.9M

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

Our operations are focused on providing goods and services related to the recreational boating market. Prior to June 2025, we focused exclusively on the design, development and manufacturing of electric outboard powertrain systems and electric power boats and the renting of electric boats. In June 2025, we acquired Nautical Ventures, which currently has eight locations in Florida for the sale of boats, parts and accessories and the provision of related services. Nautical Ventures is primarily focused on the sale of recreational boats including both those with internal combustion engines and with electric propulsion. We believe that Vision Marine’s experience with electric boats enhances the ability of the network of dealerships provided by Nautical Ventures to sell electric boats.

Written from the business description in Vision Marine Technologies Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 28 November 2025. Every sentence was checked against that document before publication.

Growth

CAD 5.7M
Revenue, FY2023 · full 6-year series below
Revenue CAD M Net income CAD M
FY2023 · Revenue 5.7 · Net income -20.9
3M6M-10M-20M
201820212023
Compound annual growth
+32.7%
+34.8%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +34.8% a year over the five years to FY2023.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

−369 cents
lost on every revenue dollar
Operating margin Net margin
FY2023 · Net -369.4%
-200%-400%
201820202023
ROE
FY2023 · ROE -117.3%
-50%-100%
201820202023
Three returns, three denominators.
Return on capital employedNot available: we don't have a clean operating profit figure for this period.

Each CAD of equity lost 117 cents this year.

Cash & shareholders

·
returned in FY2023 · dividends + net buybacks
Free cash flow CAD M
FY2023 · FCF -14.9
-10M-20M
201820202023
Net buybacks CAD Dividends CAD
FY2019 · Dividends · · Net buybacks 75.0
3060
2019

Total assetsCAD 24.0M
CashCAD 3.4M
Gross debtCAD 305,329.00
Net debtCAD -3.1M
Current ratio1.75×

Net debt stands at -26% of equity.

The 6-year record

6 fiscal years
Every figure from documents filed with the SEC · CAD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative—not applicable◌not available in our data
VMAR, 6-year financial record
Metric 202320222021202020192018
Revenue CAD B0.00.00.00.00.00.0
Operating income CAD B◌◌◌◌◌◌
EBITDA CAD B◌◌◌◌◌◌
Income tax CAD B−0.00.00.00.00.00.0
Net income CAD B−0.0−0.0−0.0−0.00.0−0.0
Free cash flow CAD B−0.0−0.0−0.0−0.0−0.00.0
EPS, diluted CAD −2.22−1.58−2.04−0.56◌◌
Dividend / sh CAD ◌◌◌◌◌◌
Payout % — not applicable: no dividend——————
ROE %−117.3−45.6−88.1———

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

Compare

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Provenance

Company facts, as filed

How we verify · 0 failures · 1 divergence in 26 reconciliationsAUDITED

Reconciled in 5 of the 6 fiscal years we could check. 1 of those reconciliations are divergences — the figures exist but don't fit the formula this check expects; that isn't the same as an error. 24 checks were skipped: the balance sheet is not tagged before 2019. 13 checks were skipped: EPS is not tagged before 2020. 11 checks were skipped: revenue is not tagged before 2018.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures1 divergent
ActivityShip & Boat Building & Repairing
Listed onNASDAQ
Incorporated inoutside the United States — SEC code A8
Fiscal year endsnot stated in the filings
SEC categoryemerging growth company
Data on record since2018

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