Vision Marine Technologies (VMAR) investor relations material

Executive summary

• Achieved first positive operating cash flow of $1.9 million in Q1 FY2026, marking a significant operational inflection point following the integration of Nautical Ventures Group (NVG).

• Focused on operational optimization, integration of NVG, and achieving EBITDA-positive and cash-flow-positive operations.

Financial highlights

• Reported total revenues of $15.7 million for the quarter, up from $0.1 million year-over-year, driven by the expanded U.S. retail platform.

• Gross profit reached $4.2 million, representing a 27% margin.

• Net loss before taxes was $4.3 million, compared to $1.1 million in the prior-year period, reflecting the impact of the NVG acquisition and reduced non-cash gains.

• EBITDA loss was $2.3 million, slightly higher than the $2.0 million loss in the prior-year period, primarily due to NVG integration.

• Cash at quarter-end was $2.3 million, with a working capital surplus of $4.7 million, excluding $9.6 million in equity financing completed post-quarter.

Outlook and guidance

• Priorities for FY2026 include completing NVG integration, operational alignment, and optimization.

• Plans to monetize non-core real estate assets within two to three quarters to generate non-dilutive liquidity.

• Focus on inventory optimization, working capital efficiency, and expanding aftersales and maintenance programs.

• Emphasis on strengthening lender relationships and advancing long-term liquidity initiatives.