Vision Marine Technologies (VMAR) Financial Statements & Analysis

Vision Marine Technologies (VMAR) Income Statement

Vision Marine Technologies reported revenue of $13.83M in fiscal 2025 (fiscal year ended Aug 31, 2025), up 395.9% from $2.79M a year earlier. Vision Marine Technologies posted a net loss of $15.76M, compared with a net loss of $10.38M a year earlier. Gross margin was 25.1% and operating margin -113.9%. In the most recent quarter, Q3 fiscal 2026 (ended May 31, 2026), revenue was CAD 18.37M, up 6494.1% from the same quarter a year earlier.

Vision Marine Technologies Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Vision Marine Technologies Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2021	FY 2020	FY 2019	FY 2018
Period ending	Aug 2025	Aug 2024	Aug 2023	Aug 2022	Nov 2021	Aug 2021	Aug 2020	Aug 2019	Aug 2018
Revenue & Gross Profit
Revenue	13.83	2.79	4.20	7.59	3.48	2.78	2.36	2.88	1.29
Cost of Revenue	9.07	1.69	3.06	4.47	2.07	1.51	1.79	1.96	0.89
Gross Profit	3.47	1.10	1.14	3.11	1.41	1.27	0.56	0.91	0.40
Operating Expenses
Research & Development	1.18	2.01	4.24	2.31	1.48	1.18	0.00	0.00	0.00
Selling, General & Administrative	13.14	8.21	11.50	13.98	12.64	4.52	2.66	0.58	0.41
Operating Expenses	19.22	10.83	16.18	16.30	14.11	13.17	2.66	0.58	0.41
Operating Income	-15.75	-9.73	-15.04	-13.18	-12.71	-11.90	-2.10	0.33	-0.01
Other Income/Expense
Interest Income	0.16	0.05	0.08	0.39	0.00	-	0.00	0.00	0.00
Interest Expense	-0.81	0.18	0.11	0.19	0.12	-0.10	0.10	0.03	0.04
Other Income/Expense	3.01	0.67	-0.12	-0.08	-	0.12	-0.10	-0.04	-0.03
Income
Income Before Tax	-21.64	-10.56	-15.71	-13.27	-14.86	-11.87	-2.20	0.30	-0.03
Income Tax Expense	0.01	-0.18	-0.21	0.27	0.10	0.08	0.02	0.06	0.15
Net Income	-15.76	-10.38	-15.50	-13.53	-14.96	-11.98	-2.22	0.23	-0.19
Net Income - Continuous Operations	-21.65	-10.38	-15.50	-13.53	-14.96	-	-2.22	0.23	-0.19
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	-9.88	-9.62	-14.83	-12.09	-14.32	-9.88	-1.93	0.37	0.04
EBIT	-10.31	-10.38	-15.61	-9.77	-	-10.21	-	-	-
Depreciation & Amortization	0.43	0.61	0.44	0.99	0.41	0.33	0.17	0.04	0.03
Earnings Per Share
Basic EPS	-981.00	-2604783.00	-7711214.00	-6691450.00	-7723850.00	-	-1150270.00	119630.00	-98946.00
Diluted EPS	-981.00	-4553390.00	-8975467.00	-6691450.00	-7723850.00	-	-1150270.00	119630.00	-98946.00
Basic Shares Outstanding	0.02	0.00	0.00	0.00	-	-	-	-	-
Diluted Shares Outstanding	0.02	0.00	0.00	0.00	-	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of May 31, 2026. Data sources and methodology

Frequently Asked Questions About Vision Marine Technologies Financial Statements

What was Vision Marine Technologies's revenue in fiscal 2025?

Vision Marine Technologies reported revenue of $13.83M in fiscal 2025 (fiscal year ended Aug 31, 2025). That was up 395.9% from $2.79M a year earlier.

Is Vision Marine Technologies profitable?

No. Vision Marine Technologies reported a net loss of $15.76M in fiscal 2025. In fiscal 2024 it lost $10.38M.

What is Vision Marine Technologies's operating margin?

Vision Marine Technologies's operating income was −$15.75M on revenue of $13.83M in fiscal 2025, an operating margin of -113.9%, compared with -348.8% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition