Vision Marine Technologies Inc Financials
Vision Marine Technologies Inc (VMAR) reported $13.8M in revenue for fiscal year 2025, up 395.9% from the prior fiscal year. This page shows its 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).
FY2025’s revenue rebound was accompanied by a large inventory build, making liquidity depend on selling stock rather than holding cash.
In the latest year, revenue jumped while operating cash outflow stayed near-$8.9M ; that means cash burn per sales dollar improved even though net loss remained-$21.7M . At the same time, inventory concentration reached$36.9M against just$7.4M of cash, so the stronger top line came with liquidity tied more tightly to moving product.
The balance sheet looks less strained than a year earlier because the current ratio moved above 1.0x, but most of that cushion sits in inventory rather than in immediately spendable assets. With current liabilities at
Across the last three valid years, financing inflows repeatedly covered operating cash use, showing the business has been externally funded rather than self-funding. In the latest year, financing cash of
Financial Health Signals
Vision Marine Technologies Inc does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Vision Marine Technologies Inc passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
Vision Marine Technologies Inc reported a net loss of $21.7M while operations used $8.9M of cash. With neither figure positive, the ratio between the two carries no quality signal.
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.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Vision Marine Technologies Inc recorded an outflow of $9.2M in free cash flow in fiscal year 2025, representing a cash shortfall 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.
Not reported for fiscal year 2025.
Margins & Returns
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.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
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.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
VMAR Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q4'25 | Q4'24 | Q4'23 |
|---|
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, Interest Expense, Income Tax, Net Income, EPS (Diluted).
VMAR Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| 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
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q4'25 | Q4'24 | Q4'23 |
|---|
Not reported in any period shown, so not listed: Operating Cash Flow, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.
VMAR Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q4'25 | Q4'24 | Q4'23 |
|---|---|---|---|
| Current Ratio | 1.19+0.1x | 1.09+0.3x | 0.82 |
| Debt-to-Equity | 0.63+0.6x | 0.05-0.1x | 0.17 |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, FCF Margin.
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Where Vision Marine Technologies Inc Ranks
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.
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 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) recorded an outflow of $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) recorded an outflow of $8.9M in operating cash flow during fiscal year 2025, representing cash used by 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 Piotroski F-Score?
Vision Marine Technologies Inc (VMAR) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 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) reported a net loss of $21.7M while operations used $8.9M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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.