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MARKETS / NASDAQ / VMAR
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
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
2.5M5.0M-8.0M-16.0M201820192020202120222023
Compound annual growth
+32.7%
+34.8%
3 yrs
5 yrs
10 yrs
15 yrs

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

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%201820192020202120222023
ROE

Not available in our data for this period.

Cash & shareholders
returned in FY2023 · dividends + net buybacks
Free cash flow CAD M
FY2023 · FCF -14.9
-5M-10M201820192020202120222023
Net buybacks CAD Dividends CAD
FY2019 · Dividends — · Net buybacks 75.0
25.050.02019

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

Not available: we don't have the shareholders' equity figure for this period.

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
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 %······
ROE %······

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

Compare

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Provenance
Company facts, as filed
How we verify · 0 failures · 1 divergences in 26 reconciliationsAUDITED

Reconciled in 5 of 19 fiscal years. 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. 69 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 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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