Vision Marine’s Electric Boats Hit Big Growth, Cash Boost

Vision Marine Technologies announced a sharp rise in sales and cash reserves, signaling progress for its electric boat line. In the third quarter that ended May 31, revenue climbed to $18.4 million, a jump of roughly 27% from the previous quarter’s $14.5 million.

Over the first nine months of fiscal 2026, total earnings reached $48.6 million, a dramatic increase from the mere $0.4 million recorded a year earlier—thanks largely to the purchase of Florida‑based retail arm Nautical Ventures.

• Gross profit for the same nine‑month span hit $11.8 million, yielding a margin of 24.3%.
• Inventory levels fell by 44% to $20.7 million, while floorplan financing dropped sharply by 69% to $10.2 million.
• Cash on hand grew to $2.4 million at quarter’s close.

CEO Alexandre Mongeon highlighted that the third‑quarter gains reflect both better revenue generation and tighter capital use. He also noted a broadened service model, adding marina management, storage rentals, boat‑club memberships and after‑sales support. These recurring streams aim to deepen customer ties throughout the boating life cycle, moving beyond single‑boat sales.

Separately, Vision Marine wrapped up an at‑the‑market equity offering that raised $16.3 million in gross proceeds, bringing total shares to about 6.5 million and consolidating $9.5 million in unrestricted cash. The timing coincides with the sale of three non‑core Florida properties, netting $13.1 million in gross proceeds and sharpening the company’s regional focus.

With stronger earnings, fresh capital, and a clearer operational picture, Vision Marine is poised to push forward its electric propulsion technology, broaden its boat lineup and create lasting value for investors.