Vision Marine Technologies Reports 27% Sequential Revenue Growth and Completes $16.3M ATM Offering

Vision Marine Technologies Inc. (NASDAQ: VMAR) is making strides in its strategic plan, reporting double-digit sequential revenue growth for its fiscal third quarter and completing a $16.3 million at-the-market (ATM) equity offering program. These milestones highlight the company's progress in advancing E-Motion™ commercialization, expanding its electric boat portfolio, optimizing its retail, marina, and service platform, and building long-term shareholder value.

For the fiscal third quarter ending May 31, Vision Marine posted revenue of $18.4 million, up approximately 27% from $14.5 million in the fiscal second quarter. For the first nine months of fiscal 2026, revenue reached $48.6 million, compared with $0.4 million during the same period in the prior year, primarily reflecting the contribution from the acquisition of Nautical Ventures. Gross profits for the first nine months were $11.8 million, representing a gross margin of 24.3%, a significant improvement from the gross loss in the year-earlier period. Inventory declined about 44% to $20.7 million, while floorplan financing declined about 69% to $10.2 million. The company ended the quarter with $2.4 million in cash.

“The third quarter reflects the progress we have been working toward across revenue generation, working capital management, and capital efficiency,” said Alexandre Mongeon, Chief Executive Officer and Co-Founder of Vision Marine. “Our expanded operating platform is beginning to demonstrate how stronger commercial execution and disciplined capital management can reinforce one another.”

During the quarter, Vision Marine also expanded its recurring and repeat-revenue activities across marina operations, service, storage, rentals, boat club memberships, and aftersales support. The company believes these activities can increase customer engagement throughout the boating lifecycle and support a more diversified business model beyond individual boat sales.

In a separate announcement, Vision Marine successfully completed its ATM equity offering program, originally announced on January 23, 2026, raising $16.3 million in aggregate gross proceeds. Following completion of the ATM program and final settlement, the company has about 6.5 million common shares outstanding and approximately $9.5 million of unrestricted consolidated cash.

The completion of the ATM program coincides with agreements to sell three non-core commercial properties in Florida for a total of $13.1 million in aggregate gross proceeds. These real estate transactions are intended to optimize Vision Marine's Florida footprint. Combined, these moves position the company to execute its operational priorities while maintaining financial flexibility for future growth initiatives.

“Completing the ATM program, together with the expected non-dilutive capital from our pending real estate transactions, strengthens the foundation from which we can continue executing our strategy,” says Mongeon. “Building on the operational progress achieved over the past year, we remain firmly focused on advancing E-Motion commercialization, expanding our electric boat portfolio, optimizing our retail, marina, and service platform, and building a more scalable foundation for the future of boating.”

Vision Marine Technologies' E-Motion 180e electric propulsion system is a fully integrated, high-voltage electric powertrain designed to replace traditional internal combustion engines on recreational boats. In addition to manufacturing proprietary electric propulsion systems, Vision Marine operates Nautical Ventures, its Florida-based retail and service platform, acquired in June 2025.

The company's recent performance and capital-raising efforts underscore its commitment to growth and innovation in the marine industry. For more information on Vision Marine's plans, click here.