Vision Marine Technologies Delivers 27% Sequential Q3 Revenue Growth

About this update from Vision Marine Technologies Inc.

First nine months of fiscal 2026 generated $48.6 million in revenue, $11.8 million in gross profit at a 24.3% margin and $2.4 million in cash from operating activities. BOISBRIAND, QC and FORT LAUDERDALE, Fla., July 13, 2026 /PRNewswire/ -- Vision Marine Technologies Inc. (NASDAQ: VMAR; TSXV: VMAR) ("Vision Marine" or the "Company"), a marine technology and recreational boating company combining proprietary high-voltage electric propulsion technology with a retail, marina and service platform, today reported its unaudited financial results for the three-month and nine-month periods ended May 31, 2026. All amounts are expressed in U.S. dollars unless otherwise indicated. Key Takeaways Sequential revenue growth.  Third-quarter revenue increased approximately 27% to $18.4 million, compared with $14.5 million in the second quarter of fiscal 2026. Because Nautical Ventures Group Inc. ("NVG") was included in both periods, management believes the quarter-over-quarter comparison provides a more comparable view of the Company's financial and commercial trajectory. Gross profit and margin generation.  For the first nine months of fiscal 2026, Vision Marine generated gross profit of $11.8 million, representing a gross margin of 24.3%, compared with a gross loss in the prior-year period. Positive operating cash flow.  Cash provided by operating activities totaled $2.4 million for the first nine months of fiscal 2026, supported by disciplined working capital management and inventory reduction. Improved capital efficiency.  Inventory declined approximately 44% from August 31, 2025, to $20.7 million, while floorplan financing declined approximately 69% from fiscal year-end to $10.2 million. Alexandre Mongeon, Chief Executive Officer of Vision Marine, commented: "The third quarter reflects the progress we have been working toward across revenue generation, working capital management and capital efficiency. Our expanded operating platform is beginning to demonstrate how stronger commercial execution and disciplined capital management can reinforce one another. "We are building an integrated marine platform that connects our E-Motion™ technology with direct customer access, marina infrastructure, certified service and aftersales support. We remain committed to disciplined capital allocation, continued operational execution and building long-term shareholder value while advancing toward sustainable profitability." Revenue Growth and Gross Profit Revenue for the first nine months of fiscal 2026 increased to $48.6 million, compared with $0.4 million during the same period of the prior year, primarily reflecting the contribution from the acquisition of NVG.

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