Vision Marine Technologies Inc Financials
This page shows Vision Marine Technologies Inc (VMAR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Vision Marine Technologies Inc's revenue surged 395.9% year-over-year to $13.8M, reflecting rapid business expansion. This strong growth earns a score of 100/100.
Vision Marine Technologies Inc carries a low D/E ratio of 0.63, meaning only $0.63 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 89/100, indicating a strong balance sheet with room for future borrowing.
Vision Marine Technologies Inc's current ratio of 1.19 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 19/100, which could limit financial flexibility.
While Vision Marine Technologies Inc generated -$8.9M in operating cash flow, capex of $227K consumed most of it, leaving -$9.2M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Vision Marine Technologies Inc generates a -256.2% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -465.7% the prior year.
Vision Marine Technologies Inc passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Vision Marine Technologies Inc generates $0.41 in operating cash flow (-$8.9M OCF vs -$21.7M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
Vision Marine Technologies Inc generated $13.8M in revenue in fiscal year 2025. This represents an increase of 395.9% from the prior year.
Vision Marine Technologies Inc reported -$21.7M in net income in fiscal year 2025. This represents a decrease of 108.5% from the prior year.
Cash & Balance Sheet
Vision Marine Technologies Inc generated -$9.2M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 5.0% from the prior year.
Vision Marine Technologies Inc held $7.4M in cash against $5.3M in long-term debt as of fiscal year 2025.
Vision Marine Technologies Inc had 5M shares outstanding in fiscal year 2025. This represents an increase of 29931.4% from the prior year.
Margins & Returns
Vision Marine Technologies Inc's net profit margin was -156.5% in fiscal year 2025, showing the share of revenue converted to profit. This is up 215.7 percentage points from the prior year.
Vision Marine Technologies Inc's ROE was -256.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 209.5 percentage points from the prior year.
Capital Allocation
Vision Marine Technologies Inc invested $227K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 48.8% from the prior year.
VMAR Income Statement
| Metric | Q4'25 | Q4'24 | Q4'23 |
|---|---|---|---|
| Revenue | N/A | N/A | N/A |
| Cost of Revenue | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A |
| Operating Income | N/A | N/A | N/A |
| Interest Expense | N/A | N/A | N/A |
| Income Tax | N/A | N/A | N/A |
| Net Income | N/A | N/A | N/A |
| EPS (Diluted) | N/A | N/A | N/A |
VMAR Balance Sheet
| Metric | Q4'25 | Q4'24 | Q4'23 |
|---|---|---|---|
| Total Assets | $69.9M+726.8% | $8.5M-52.6% | $17.8M |
| Current Assets | $59.0M+823.7% | $6.4M+1.8% | $6.3M |
| Cash & Equivalents | $7.4M+15755.1% | $47K-98.1% | $2.5M |
| Inventory | $36.9M+701.1% | $4.6M+154.7% | $1.8M |
| Accounts Receivable | $483K+370.1% | $103K-74.7% | $407K |
| Goodwill | N/A | N/A | $7.2M |
| Total Liabilities | $61.5M+887.1% | $6.2M-32.6% | $9.2M |
| Current Liabilities | $49.7M+748.1% | $5.9M-23.8% | $7.7M |
| Long-Term Debt | $5.3M+5130.1% | $102K-93.1% | $1.5M |
| Total Equity | $8.5M+279.1% | $2.2M-74.1% | $8.6M |
| Retained Earnings | -$71.6M-43.4% | -$49.9M-26.3% | -$39.5M |
VMAR Cash Flow Statement
| Metric | Q4'25 | Q4'24 | Q4'23 |
|---|---|---|---|
| Operating Cash Flow | N/A | N/A | N/A |
| Capital Expenditures | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A |
| Investing Cash Flow | N/A | N/A | N/A |
| Financing Cash Flow | N/A | N/A | N/A |
| Dividends Paid | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A |
VMAR Financial Ratios
| Metric | Q4'25 | Q4'24 | Q4'23 |
|---|---|---|---|
| Gross Margin | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A |
| Net Margin | N/A | N/A | N/A |
| Return on Equity | N/A | N/A | N/A |
| Return on Assets | N/A | N/A | N/A |
| Current Ratio | 1.19+0.1 | 1.09+0.3 | 0.82 |
| Debt-to-Equity | 0.63+0.6 | 0.05-0.1 | 0.17 |
| FCF Margin | N/A | N/A | N/A |
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Frequently Asked Questions
What is Vision Marine Technologies Inc's annual revenue?
Vision Marine Technologies Inc (VMAR) reported $13.8M in total revenue for fiscal year 2025. This represents a 395.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Vision Marine Technologies Inc's revenue growing?
Vision Marine Technologies Inc (VMAR) revenue grew by 395.9% year-over-year, from $2.8M to $13.8M in fiscal year 2025.
Is Vision Marine Technologies Inc profitable?
No, Vision Marine Technologies Inc (VMAR) reported a net income of -$21.7M in fiscal year 2025, with a net profit margin of -156.5%.
How much debt does Vision Marine Technologies Inc have?
As of fiscal year 2025, Vision Marine Technologies Inc (VMAR) had $7.4M in cash and equivalents against $5.3M in long-term debt.
What is Vision Marine Technologies Inc's net profit margin?
Vision Marine Technologies Inc (VMAR) had a net profit margin of -156.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Vision Marine Technologies Inc's return on equity (ROE)?
Vision Marine Technologies Inc (VMAR) has a return on equity of -256.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Vision Marine Technologies Inc's free cash flow?
Vision Marine Technologies Inc (VMAR) generated -$9.2M in free cash flow during fiscal year 2025. This represents a -5.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Vision Marine Technologies Inc's operating cash flow?
Vision Marine Technologies Inc (VMAR) generated -$8.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Vision Marine Technologies Inc's total assets?
Vision Marine Technologies Inc (VMAR) had $69.9M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Vision Marine Technologies Inc's capital expenditures?
Vision Marine Technologies Inc (VMAR) invested $227K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Vision Marine Technologies Inc's current ratio?
Vision Marine Technologies Inc (VMAR) had a current ratio of 1.19 as of fiscal year 2025, which is considered adequate.
What is Vision Marine Technologies Inc's debt-to-equity ratio?
Vision Marine Technologies Inc (VMAR) had a debt-to-equity ratio of 0.63 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Vision Marine Technologies Inc's return on assets (ROA)?
Vision Marine Technologies Inc (VMAR) had a return on assets of -31.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Vision Marine Technologies Inc's cash runway?
Based on fiscal year 2025 data, Vision Marine Technologies Inc (VMAR) had $7.4M in cash against an annual operating cash burn of $8.9M. This gives an estimated cash runway of approximately 10 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Vision Marine Technologies Inc's Piotroski F-Score?
Vision Marine Technologies Inc (VMAR) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Vision Marine Technologies Inc's earnings high quality?
Vision Marine Technologies Inc (VMAR) has an earnings quality ratio of 0.41x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Vision Marine Technologies Inc?
Vision Marine Technologies Inc (VMAR) scores 42 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.