Vision Marine Technologies last week reported fiscal third quarter revenue of $18.4 million, up about 27% from $14.5 million in the second quarter. For the first nine months of fiscal 2026, revenue reached $48.6 million, compared with $0.4 million in the same period a year earlier, largely reflecting its Nautical Ventures Group acquisition.
The company — with operations in Boisbriand, Quebec, and Fort Lauderdale, Fla. — posted a nine-month gross profit of $11.8 million, a 24.3% margin, versus a gross loss in the prior-year period. Vision Marine reported a nine-month net loss of $11.9 million, which included depreciation and financing costs tied to its expanded operations, along with an impairment related to a former battery supplier that entered liquidation.
“The third quarter reflects the progress we have been working toward across revenue generation, working capital management and capital efficiency,” Vision CEO Alexandre Mongeon said in a statement. He added that the company is building an integrated platform linking its E-Motion propulsion technology with marina infrastructure, service and aftersales support, and that Vision remains focused on disciplined capital allocation as it works toward profitability.
Operating cash flow totaled $2.4 million for the nine-month period, supported by working capital discipline and inventory reductions. Inventory fell about 44% from Aug. 31, 2025, to $20.7 million, while floorplan financing dropped roughly 69% to $10.2 million over the same span.
CFO Raffi Sossoyan added that the financial results show continued progress in commercial execution and working capital management. The company said it expects it will need additional capital and noted risks, including financing availability and market conditions, per its public filings.
