Welcome to our dedicated page for Vision Marine Technologies SEC filings (Ticker: VMAR), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Vision Marine Technologies Inc. SEC filings document the company’s foreign private issuer reporting, capital-market activity and governance for an electric marine propulsion and recreational boating business. Form 6-K reports include interim consolidated financial statements and management discussion, updates on the Nautical Ventures platform, exchange-listing matters, annual meeting materials, shareholder voting results, and executive employment arrangements.
The filings also describe registration and financing activity, including Form F-3 shelf registrations, an at-the-market sales agreement for common shares, and incorporation of certain 6-K reports into registration statements. Capital-structure disclosures reference common shares, equity compensation plans, convertible preferred shares, pre-funded warrants, convertible notes and related derivative items.
Vision Marine Technologies Inc. has received conditional approval to list its common shares on the TSX Venture Exchange, adding a Canadian trading venue alongside its primary Nasdaq listing. The company expects this dual listing to broaden access to Canadian investors and increase visibility for its E-Motion™ electric propulsion platform.
Vision Marine also outlines use of its at-the-market equity program under an effective Form F-3 shelf. It has issued 975,333 common shares at a weighted average price of US$2.03 per share, raising gross proceeds of US$1,983,450.32 and net proceeds of US$1,887,263.81 after US$96,186.51 in commissions and costs, under a prospectus supplement allowing aggregate gross proceeds of up to US$16,335,000.
Vision Marine Technologies reported second-quarter results showing stronger operations at its Nautical Ventures Group (NVG) segment and a cleaner balance sheet. Revenue was $14.53 million, generating gross profit of $4.40 million with a margin of 30%, up from 27% in the prior quarter.
Net loss narrowed to $1.86 million, a 56.8% improvement, while EBITDA loss improved to $2.14 million. NVG’s EBITDA loss fell from $235,477 in Q1 2026 to $2,760 in Q2 2026, placing the segment near breakeven less than a year after acquisition.
Since acquiring NVG, the company reduced inventory by over $10.6 million and cut floor plan financing by $23.8 million. As of February 28, 2026, cash was $4.1 million and working capital surplus was $10.0 million, supported by $9.3 million of equity financing and $3.8 million from real estate monetization.
Vision Marine Technologies Inc. filed interim IFRS financial statements showing rapidly expanding operations but continuing losses and a going concern uncertainty. Revenue for the six months ended February 28, 2026 rose to $30,224,328 from $177,219, mainly from U.S. boat retail after acquiring Nautical Ventures Group.
The company reported a six‑month net loss of $6,177,473 and a cumulative deficit of $77,759,031. Cash was $4,061,703 with working capital of $9,966,737, while management states that recurring losses and negative historical operating cash flows create material uncertainty about its ability to continue as a going concern, and additional financing will be needed.
Vision Marine Technologies Inc. held its annual general meeting, where shareholders representing 6,485,922 common shares, or 17.53% of the 37,008,735 shares entitled to vote, formed a quorum and approved all proposals.
Shareholders elected all director nominees, ratified M&K CPAs as auditors, and adopted amended and restated restricted share unit and stock option plans, with the option plan allowing grants up to 10% of issued and outstanding shares under all share compensation arrangements. They also approved compensation for CEO Alexandre Mongeon, including 285,000 common shares for relocation, 500,000 common shares as milestone compensation, and 500,000 restricted share units.
The company provided an update on its at-the-market equity program with ThinkEquity LLC, under which it may sell up to $16.3 million of common shares. From January 23, 2026 to April 2, 2026, it issued 494,889 common shares for approximately $1.26 million in net proceeds.
Vision Marine Technologies Inc. Schedule 13G reports that two affiliated entities, Diveroli Investment Group LLC and Kingbird Ventures LLC, together acquired beneficial ownership of 119,326 shares of common stock, representing approximately 9.5% of the outstanding common stock based on an assumed total of 1,255,000 shares. Kingbird Ventures LLC directly holds 119,326 shares; Diveroli Investment Group LLC may be deemed to beneficially own those shares. The filing states the acquisition occurred on March 4, 2026 and is filed as a joint reporting group.
Vision Marine Technologies Inc. renewed its executive employment agreement with chief financial officer Raffi Sossoyan, effective March 1, 2026. The new agreement runs for two years, ending March 1, 2028, and replaces his prior March 1, 2024 contract.
Under the agreement, Mr. Sossoyan will receive an annual base salary of CA$295,000, plus an annual incentive bonus of up to 25% of base salary based on performance objectives set by the board or its compensation committee. He will continue to participate in the company’s equity compensation plans. The contract includes severance protections if he is terminated without cause or resigns for good reason, along with customary confidentiality, non‑competition, and non‑solicitation covenants. The agreement is filed as Exhibit 10.1 and the information is incorporated by reference into existing Form F‑3 and Form S‑8 registration statements.
Lincoln Alternative Strategies LLC filed an amended Schedule 13G reporting beneficial ownership of 43,028 shares of Vision Marine Technologies Inc. common stock, representing 4.32% of the class. The percentage is based on 996,038 shares outstanding as of January 23, 2026, as reported by the company.
Lincoln Alternative Strategies has sole voting and dispositive power over all 43,028 shares and no shared power. The filer certifies the shares were not acquired and are not held for the purpose of changing or influencing control of Vision Marine Technologies.
Vision Marine Technologies Inc. has scheduled its annual general and special meeting of shareholders for February 26, 2026, at 10:00 a.m. local time. The meeting will be held in person at 1 Place Ville Marie, 39th Floor, Montreal, Quebec, with an option to attend online via live audio webcast.
The company began mailing a proxy card, management information circular, and notice of meeting to shareholders of record as of January 5, 2026. These materials, dated January 23, 2026, are also filed as exhibits and incorporated by reference into existing Form F-3 and Form S-8 registration statements.
Vision Marine Technologies Inc. entered into an at-the-market sales agreement with ThinkEquity LLC, allowing it to issue and sell up to US$16,335,000 of common shares from time to time under an effective shelf registration on Form F-3.
Shares will be sold through ThinkEquity on the Nasdaq Capital Market or other trading markets as ordinary open-market transactions, and the company is not required to sell any specific amount. ThinkEquity will receive a commission equal to 3.0% of gross proceeds for most sales, and 7.5% when it arranges a single sale of US$1,000,000 or more.
A Canadian legal opinion from Dentons Canada LLP confirms that the shares have been duly authorized and, when issued in accordance with the sales agreement and upon receipt of consideration, will be validly issued, fully paid and non-assessable.
Vision Marine Technologies Inc. is registering up to $16,335,000 of common shares through an at-the-market offering, using ThinkEquity as sales agent. Sales will be made on the Nasdaq Capital Market at prevailing prices, with commissions of 3% on standard trades and 7.5% on block trades over $1,000,000.
At an assumed price of $4.84 per share, this would equal about 3.38 million new shares, taking common shares outstanding from 996,695 to 4,371,695 and significantly diluting existing holders. The company plans to use net proceeds of roughly $14.9–$15.6 million mainly for working capital, inventory, general corporate purposes and patent prosecution, and may also pursue acquisitions.
The filing highlights that Nautical Ventures, a Florida boat dealer acquired in 2025, now drives most revenue, while legacy electric propulsion operations remain small. It also notes a disputed termination notice from key supplier Axopar, prior covenant issues and a temporary funding freeze on one floor plan facility, and emphasizes extensive past equity raises and reverse splits that have already heavily diluted shareholders.