#Canada #Montreal #Vision Marine #Nautical Ventures #NYSE: VMAR

Vision Marine Technologies Accelerates Operational Transformation

Vision Marine Technologies Inc. has made significant strides in its operational transformation since acquiring Nautical Ventures Group Inc. (NVG) on June 20, 2025. The company, recognized for its high-voltage marine propulsion systems, reported its financial performance for the periods ending February 28, 2026, noting substantial improvements and nearing EBITDA breakeven—a remarkable achievement within a year of NVG's integration.

Key Financial Enhancements

The company's focused strategies have led to profound changes in its operations, aimed at enhancing liquidity, reducing debt, and optimizing inventory levels. Notable financial metrics demonstrate this trend:

• - Inventory Reduction: The company cut its inventory by over $10.6 million, decreasing from $35.1 million to $24.5 million.
• - Financing Reductions: Floor plan financing was slashed by $23.8 million, resulting in a new total of $18.2 million.
• - EBITDA Loss Improvement: NVG's EBITDA loss was dramatically reduced by 99%, down from $235,477 in Q1 2026 to just $2,760 in Q2 2026.
• - Real Estate Optimization: Following the acquisition, NVG successfully reduced its real estate holdings from six properties to four, garnering $3.8 million from real estate monetization, with plans for additional properties.

This disciplined approach to operational efficiency reflects the company's commitment to creating a solid financial foundation for future growth.

Quarterly Performance Overview

In the second quarter, Vision Marine showcased a commendable performance compared to the previous quarter ended November 30, 2025. Here are some key financial highlights:

• - Revenue: $14.53 million
• - Gross Profit: $4.4 million, translating to a 30% margin, up from 27%.
• - Net Loss: Narrowed to $1.86 million, marking a 56.8% improvement.
• - EBITDA Loss: Starved to $2.14 million, with a 9% improvement from the $2.35 million loss in Q1.

These results underscore the company's effective management strategies and operational momentum.

Driving Operational Efficiency

Critical to the company's recent success has been its focus on operating leverage, illustrated through:

• - Enhanced inventory turnover rates and purchasing practices.
• - Aggressive deleveraging to alleviate financial pressures.
• - An expansion of higher-margin product offerings.
• - Strategic partnerships with top-tier original equipment manufacturers (OEMs) such as Yamaha and Twin Vee, aimed at bolstering product diversity and profitability.

Leadership Comments

As Vision Marine continues to transform, CEO Alexandre Mongeon remarked, "The changes we’ve implemented at NVG have yielded swift and measurable improvements. The substantial inventory reductions and deleveraging have allowed us to reach a near EBITDA breakeven point, reinforcing our operating model. This sets a robust stage for ongoing performance enhancements."

CFO Raffi Sossoyan further stated, "The scale of working capital improvements we've achieved since the acquisition is substantial. Our cash generation efforts and asset optimization have significantly bolstered our financial standing and paved the way for profitability."

Financial Health and Future Outlook

As of February 28, 2026, Vision Marine reported:

• - Cash Holdings: $4.1 million
• - Working Capital Surplus: $10.0 million
• - Total Assets: $58.6 million

Recent financial maneuvers include raising $9.3 million in equity financing, generating $3.8 million from real estate initiatives, and significantly decreasing floor plan financing by $14.5 million. The company is now focused on sustaining these earnings, continuing to enhance liquidity, and broadening the sales of higher-margin offerings.

Vision Marine remains committed to advancing its strategic initiatives towards sustained EBITDA-positive operations, demonstrating resilience in an evolving marketplace. As it navigates through these transitions, feedback from investors and stakeholders will be crucial to ensuring long-term success and profitability in the marine technology industry.