#Canada #Montreal #VisionMarine #NauticalVentures #ElectricPropulsion

Vision Marine Technologies Reports Strong Financial Performance for Q1 2026

Montreal, January 13, 2026 – Vision Marine Technologies Inc. (NASDAQ: VMAR), an innovative leader in electric marine propulsion, has unveiled its impressive financial results for the first quarter of fiscal 2026, including a groundbreaking $1.9 million in cash generated from operating activities. This marks a crucial turning point in the company's financial trajectory, shifting from a cash-consuming operation to one that is starting to generate positive cash flow.

The revenue for the quarter soared to $15.7 million, a stark contrast to the mere $0.1 million reported in the same quarter of the previous year. This surge can primarily be attributed to the successful integration of Nautical Ventures Group Inc. (NVG) into Vision Marine's retail ecosystem, significantly expanding its operations within the U.S. market. The gross profit also saw a remarkable jump, reaching $4.2 million, thereby achieving a gross margin of 27%. Such results showcase the operational leverage gained from the enhanced retail network.

Despite these positive developments, Vision Marine reported a net loss before taxes of $4.3 million this quarter, compared to a net loss of $1.1 million in the prior-year period. This increase in loss is largely a reflection of the strategic acquisition of NVG, which, while significantly broadening the company's operational base, also incurred additional associated costs. Furthermore, the results included a $1.1 million reduction in non-cash gains linked to mark-to-market movements on derivative liabilities.

In terms of operational efficiency, Vision Marine has embarked on a journey to optimize its operations throughout fiscal 2026. The management remains focused on not just achieving a positive EBITDA but also ensuring cash-flow positive operations as swiftly as possible. The company ended the quarter with a cash balance of $2.3 million and a working capital surplus of approximately $4.7 million, which does not factor in the recent completion of a $9.6 million equity financing deal in December 2025. This robust liquidity profile positions Vision Marine well for its operational optimization plans in 2026.

Chief Executive Officer Alexandre Mongeon emphasized the significance of generating positive operating cash flow post-acquisition: “This milestone is crucial for reinforcing our financial stability. We are committed to disciplined inventory management and are keen on executing our integration plans effectively.” He also mentioned that the company is looking to divest non-core real estate assets to further strengthen its balance sheet without causing dilution.

Looking ahead, Vision Marine aims to solidify its core operating fundamentals during the integration process of Nautical Ventures throughout the year. Key initiatives include:

• - Completing the full integration of Nautical Ventures, enhancing operational alignment and efficiency.
• - Strategic monetization of select non-core real estate assets within two to three quarters to increase non-dilutive liquidity.
• - Further optimizing inventory levels and working capital processes, thereby improving overall efficiency.
• - Strengthening lender relationships for better financing options.
• - Expanding afteSales and maintenance programs across its boat offerings, particularly its E-Motion™ electric propulsion systems to create recurring revenue streams and enhance customer experiences.

This quarter's results mark a turning point for Vision Marine Technologies as they continue to pave the path toward sustainable profitability in a rapidly evolving marine industry. As electric propulsion becomes increasingly popular in the recreational boating sector, Vision Marine is strategically positioned to leverage its technology and retail expertise to drive long-term shareholder value and operational success.