Latest news with #AlexandreMongeon
Business Insider
21 hours ago
- Business
- Business Insider
Why Is Vision Marine Technologies Stock (VMAR) Up 25% Today?
Vision Marine Technologies (VMAR) stock rocketed higher on Friday after the on‑water experiences and Nautical Ventures dealership network company announced two updates important to shareholders. The first was the conclusion of a lawsuit with shareholders, while the second concerned new boat sales. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Starting with that legal matter, Vision Marine Technologies announced it has reached a settlement with shareholders. Approval was granted by the New York State Supreme Court. This brings an end to a legal battle that started on May 16, 2025, clearing the way for the company to continue operations without lawsuit concerns. Additionally, Vision Marine Technologies announced a deal with Nimbus Boats USA. This will have it act as the exclusive distributor of Nimbus powerboats on Florida's West Coast, including the Tender, Commuter, Weekender, and Coupe series. Alexandre Mongeon, cofounder and CEO of Vision Marine Technologies, said this will 'position us to capitalise on strong consumer demand and favourable market trends.' Vision Marine Technologies Stock Movement Today Vision Marine Technologies stock was up 25.7% on Friday, following a 14.71% fall yesterday. The shares have also decreased 82.14% year-to-date and 99.52% over the past 12 months. Today's news brought heavy trading to VMAR stock, as some 12.3 million shares changed hands, compared to a three-month daily average of about 30,000 units. Is Vision Marine Technologies Stock a Buy, Sell, or Hold? Turning to Wall Street, coverage of Vision Marine Technologies stock is lacking. Fortunately, TipRanks' AI analyst Spark has it covered. Spark rates VMAR stock a Neutral (44) with no price target. It cites 'significant financial struggles, including declining revenues and persistent losses' as reasons for this stance.
Miami Herald
5 days ago
- Business
- Miami Herald
Vision Marine Technologies Reports $8.2M in 7-Week Boat Sales, Highlighting Post-Acquisition Growth Impact
MONTREAL, QC / ACCESS Newswire / August 12, 2025 / Vision Marine Technologies Inc. (NASDAQ:VMAR) ("Vision Marine" or the "Company"), a leader in electric marine propulsion and multi-brand boat retail, today announced a significant increase in sales performance-highlighted by accelerated boat sales revenue, a significant reduction in floor plan liabilities, and stronger inventory turnover-following the recent acquisition of Nautical Ventures Group Inc. ("Nautical Ventures"). From June 20, 2025 to August 8, 2025, the newly acquired Nautical Ventures division generated approximately US$8.2 million in gross revenue through boat sales-compared to Vision Marine's total boat sales of $1.4 million for its entire fiscal year ended August 31, 2024. This short-term performance reflects a 504% increase relative to the Company's prior full-year sales and highlights the transformational impact of the acquisition, expanded retail footprint and integrated sales infrastructure. This top-line expansion was accompanied by a 44% reduction in floor plan financing, declining from approximately US$56.1 million as of December 31, 2024, to US$31.3 million as of August 8, 2025. This reduction underscores Vision Marine's focus on financial discipline, operational streamlining, and enhanced sales execution. Inventory turnover has also accelerated. Between June 20, 2025 and August 8, 2025, the Company reduced its product inventory by approximately US$4.9 million, driven by increased demand across both internal combustion engine ("ICE") and electric boat categories. Vision Marine is also expanding into the tender boat segment. As announced in July, the Company is leveraging Nautical Ventures' role as a leading U.S. distributor of Highfield Boats, which sold more than 600 tenders from 2022 to 2024 and generated over $14 million in related revenue. A new dedicated Fort Lauderdale facility now serves as a high-volume hub for tender sales and service. In parallel, the Company saw a 900% year-over-year increase in inbound boat leads through the addition of Nautical Ventures' sales channels, attributed to the availability of new product lines and a performance-driven marketing strategy. This demand directly supports Vision Marine's growth across both electric and ICE segments. "We want to be clear with investors: this is a materially different Vision Marine than it was last year," said Alexandre Mongeon, CEO of Vision Marine. "Through the acquisition of Nautical Ventures, we've added real sales volume, operational scale, and a platform capable of accelerating both electric and traditional boat sales." Vision Marine will provide additional updates on its financial results and strategic milestones in its Q4 2025 release in November. Preliminary and Unaudited Financial Information The financial information presented in this release is preliminary, unaudited, and subject to change. These results have not been reviewed by the Company's independent registered public accounting firm and may differ materially from results to be included in the Company's upcoming filings with the U.S. Securities and Exchange Commission ("SEC"). Use of Non-GAAP Financial Measures This press release includes references to "gross revenue," which may be considered a non-GAAP financial measure. Management uses this metric internally to evaluate performance; however, it should not be viewed as a substitute for, or superior to, measures calculated in accordance with IFRS. A reconciliation to GAAP financial measures will be provided, as necessary, in future filings with the SEC. Cautionary Note Regarding Forward-Looking Statements This press release may contain "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements reflect current expectations and projections about future events and are not guarantees of future performance. Actual results may differ materially from those expressed or implied due to various risks and uncertainties, including, but not limited to, integration risks related to the acquisition of Nautical Ventures, market demand, and operational execution. Vision Marine undertakes no obligation to update or revise any forward-looking statements except as required by law. Investor and Company Contact:Bruce NurseInvestor Relations(303) 919‑2913bn@v‑ SOURCE: Vision Marine Technologies Inc
Malaysian Reserve
21-07-2025
- Automotive
- Malaysian Reserve
Octillion Expands Supplier Agreement with Vision Marine to Power Next-Gen Electric Boats from its Nevada, USA Facility
RICHMOND, Calif., July 21, 2025 /PRNewswire/ — Octillion Power Systems ('Octillion', or the 'Company'), a California-based global-leading supplier of advanced high-density lithium-ion battery packs for electric vehicles of all types—today announced that it has expanded its existing partnership with Vision Marine Technologies Inc. (NASDAQ: VMAR) ('Vision') to produce high-voltage lithium-ion battery packs for their marine propulsion systems from Octillion's Reno, Nevada manufacturing facility. Under the terms of the agreement, Octillion will manufacture Vision-branded battery packs for their E-Motion™ 180E electric outboard system, exclusively for U.S. market distribution. These are believed to be the first-known battery packs created from the ground-up for electric marine propulsion, built to withstand harsh marine environments while delivering high energy density, durability, and ease-of-integration—making them well-suited for both commercial and recreational marine use. 'As Vision accelerates its growth in the U.S. market, we're excited to power their next chapter in performance electric boating by providing our battery technology and manufacturing expertise, producing from our Nevada facility,' said Paul Beach, Global President of Octillion. 'Our past collaborations included setting multiple electric world speed boat records, which demonstrated that high-performance engineering is in our collective DNA.' By accessing Octillion's battery technology leadership, Vision will gain fast and cost-efficient production and distribution, a secure and reliable U.S. battery supply chain, all reinforced by Octillion's trademark quality standards that have fielded over 2 million battery systems in 16 years of operating history. Furthermore, the new Vision-branded battery systems will benefit from important technological gains from their current product line, including: increased power, extended range, ease-of-integration, and total overall performance. 'Octillion is a world-class battery systems partner. From past collaborations, we've seen firsthand their ability to deliver on what matters most: integrity, quality, performance, and cost,' said Alexandre Mongeon, CEO of Vision Marine Technologies. 'Expanding our partnership provides direct access to Octillion's cutting-edge battery innovations. Manufacturing in Reno, Nevada further enables us to scale faster via a centrally located supply chain, ease of OEM integration, and in bringing our E-Motion™ electric outboard systems to a substantial consumer market in the States.' With 11 manufacturing facilities across the United States, India, and China—and its strong foundation in the Bay Area—Octillion stands at the forefront of the global transition to clean energy in electric transportation and energy storage systems of various types. As a trusted partner in large-scale battery electrification projects, Octillion continues to power the future of electric transportation worldwide with their commitment to providing clients with Purpose Built Power™. Learn more about Octillion Power Systems and its role in shaping the renewable energy landscape at About Octillion Power Systems Octillion is a California-based Tier 1 supplier of innovative high-density lithium-ion battery systems and related technology focused on the electrification of major industries such as: Automotive, Off-Highway, Construction, Agriculture, Marine, and ESS. With 11 manufacturing facilities worldwide, in the U.S., India, and China, Octillion has delivered more than 2 million EV battery systems to clients, which have driven over 4.5 billion kilometers on roadways. Octillion's clients gain a turnkey solution from initial custom battery system design, with extensive thermal modeling and fully integrated battery management systems, all the way through to high-volume, standardized manufacturing, with exceptional white glove service.
Miami Herald
23-06-2025
- Automotive
- Miami Herald
Vision Marine Technologies Acquires Nautical Ventures Group, Boating Industry 2024 Top 100 Dealer of the Year
Creates North America's first High-Voltage Propulsion Manufacturer with Multi-Brand Retail and Service InfrastructurePositions Company for Accelerated Growth in $2.5B+ Global Electric Boat MarketConsistently Generated Over USD $100 Million in Annual Sales from 2020 to 2023 MONTREAL, QC / ACCESS Newswire / June 23, 2025 / Vision Marine Technologies Inc. (NASDAQ:VMAR) ("Vision Marine" or the "Company"), a leader in high-voltage electric marine propulsion systems, today announced the acquisition of Nautical Ventures Group, Inc. ("Nautical Ventures"), a Florida-based recreational boat dealership, marina, and service provider. Recently named the 2024 Boating Industry "Dealer of the Year". Nautical Ventures is widely recognized as one of the top boat dealership networks in the United States-and is notably the number one Axopar dealership globally. This acquisition marks the formation of North America's first electric boat propulsion and boat dealership company, combining Vision Marine's proprietary E-Motion™ high-voltage electric powertrain with Nautical Ventures' retail footprint, multi-brand boat inventory, and full-service infrastructure. "This acquisition marks a pivotal step in Vision Marine's strategy to scale and compete at the highest level of the global boating industry," said Alexandre Mongeon, CEO of Vision Marine. "The market is entering a new phase-one defined by innovation in propulsion, increasing demand for integrated solutions, and rising expectations from both OEMs and consumers. By joining forces with Nautical Ventures, we gain immediate access to a proven retail and service network, allowing us to accelerate the rollout of next-generation marine technology. Nautical Ventures' founder & CEO Roger Moore has been a mentor and friend for over a decade, and I am honored to carry forward this shared vision under one banner." Roger Moore added: "Nautical Ventures has always focused on bringing the best products and experiences to boaters. Our partnership with Vision Marine allows us to stay true to that mission while expanding what's possible. Electric propulsion is no longer a future concept-it's here, and it's ready." Nautical Ventures operates nine high-volume retail locations across Florida, including two flagship waterfront showrooms, providing Vision Marine with direct access to one of the most concentrated and active recreational boating markets in the world. The dealership offers a wide portfolio of prestigious marine brands including Axopar, Beneteau, Brabus, Edgewater, Flite, Highfield, Hobie, Mercury, NorthStar, Seabob, Smokercraft, Suzuki, Tohatsu, Wellcraft, and Yamaha, serving a diverse customer base from high-performance boaters to luxury yacht owners and international resort fleets. Transaction Highlights: A New Powerhouse in Boating Turnkey Electric Boating Platform - Vision Marine now offers a complete electric boating solution encompassing propulsion system design and manufacturing, boat integration, showroom sales, convenient sea trial access, professional installation, and comprehensive long-term service and Expansion - With the addition of Nautical Ventures' premium dealer network, Vision Marine is positioned to directly sell and install its E-Motion™ high-voltage systems across a wide range of globally recognized boat platforms-both those already integrated through the Company's 22 completed HV deployments and additional leading brands offered through Nautical Ventures' retail Market Penetration - Nautical Ventures' six locations across Florida's most active boating markets provide Vision Marine with direct exposure to tens of thousands of marine consumers annually. Their strong presence at major U.S. boat shows further enhances brand visibility and creates high-impact opportunities for customer engagement, product demonstration, and electric Revenue Streams - In addition to Vision Marine's existing consumer sales generated through production agreements with OEM partners, the acquisition adds high-margin dealership sales, rentals, parts, and aftermarket services-broadening the Company's revenue for Scaled Growth - The combined entity is now positioned to execute a nationwide rollout of integrated electric boats and services across both consumer and OEM channels. With the global electric boat market projected to exceed USD $2.5 billion by 2030, and an anticipated compound annual growth rate (CAGR) of over 18%, Vision Marine is now strategically positioned to lead this rapidly growing segment with a high-performance propulsion platform and direct market access through established retail and service infrastructure. Integration of Nautical Ventures' operations is already underway. The transaction was funded through a combination of cash, a seller's note and up to 255,102 shares of Vision Marine's common stock.ThinkEquity acted as an advisor to Vision Marine in connection with the acquisition. About Vision Marine Technologies Marine Technologies Inc. (NASDAQ: VMAR) is a leading innovator in high-voltage electric propulsion systems for the recreational marine industry. The Company's E-Motion™ powertrain offers OEMs and consumers a scalable, zero-emission, high-performance alternative to internal combustion systems. Vision Marine's mission is to transform the boating experience through technology, efficiency, and integrated end-to-end electric solutions. Visit: About Nautical Ventures Group, Ventures is an award-winning marine dealership headquartered in Florida, operating nine retail and service locations with global reach. Known for its innovation and bold branding, the company offers a full portfolio of marine products-spanning powerboats, yachts, tenders, catamarans, and electric vessels-supported by factory-trained service and international export capabilities. Nautical Ventures leads the market in real-world adoption of electric propulsion and is the creator of the "Orange is the New Green" campaign. Visit: Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of U.S. securities laws, including statements related to the strategic, operational, and financial impacts of the acquisition. These statements are subject to risks and uncertainties, including those discussed in Vision Marine's filings with the U.S. Securities and Exchange Commission. Vision Marine undertakes no obligation to update forward-looking statements except as required by law. Investor Contact:Bruce Nurse, Investor RelationsVision Marine Technologies Inc.(303) 919-2913bn@ SOURCE: Vision Marine Technologies Inc
Miami Herald
18-06-2025
- Automotive
- Miami Herald
Vision Marine Technologies' 180E Electric Powertrain Approved under California's CORE Voucher Program, Incentivizes Adoption of Electric Boat Propulsion
E-Motion™ 180E systems now eligible for up to $170,000 in per-unit government vouchers-driving large-scale electrification of commercial fleets in California Key Highlights Vision Marine's E-Motion™ 180E propulsion kits approved under California's CORE (Clean Off-Road Equipment) programUp to $170,000 per vessel in state-funded vouchers available for qualifying fleet operatorsApplies to both new electric boat builds and retrofit conversions using Vision Marine's certified installersCalifornia market includes approximately 4,400 commercially operated vessels across sectors such as ferries, harbor patrol, tour boats, rentals, and service craftApproval aligns with broader industry momentum toward electrification, strengthening Vision Marine's market position MONTREAL, QC / ACCESS Newswire / June 18, 2025 / Vision Marine Technologies Inc. (NASDAQ:VMAR), a developer of high-performance electric marine propulsion systems, announced today that its flagship E-Motion™ 180E powertrain has been approved for inclusion in California's CORE (Clean Off-Road Equipment) Voucher Incentive Project. This approval makes Vision Marine's propulsion kits eligible for point-of-sale vouchers of up to $170,000 per unit, substantially reducing the cost of adopting electric propulsion for organizations modernizing their fleets. "This represents a major milestone for Vision Marine, significantly enhancing our market position and accelerating our ability to drive widespread adoption of electric propulsion technology," said Alexandre Mongeon, CEO of Vision Marine Technologies. California: A Strategic Market for Marine Electrification California operates one of the largest and most dynamic commercially operated marine sectors in North America. With approximately 4,400 vessels in use across ferry services, water taxis, harbor patrol, tour operations, and rental businesses, the state presents a significant opportunity for electrification. Many of these segments are actively seeking clean alternatives to gas and diesel propulsion due to emissions regulations and increasing demand for quieter, lower-maintenance vessels. Vision Marine's E-Motion™ 180E system-now listed under CORE-offers a compliant, high-performance solution for operators upgrading existing boats or commissioning new electric vessels. Market Impact and Sales Potential With this approval, Vision Marine can now offer its E-Motion™ 180E propulsion kits to eligible buyers with substantial financial support from the CORE program. Both new electric vessels and repower conversions are supported when completed by certified Vision Marine technicians and installers. As the only 180 HP continuous electric powertrain listed under CORE, Vision Marine stands to benefit from increased demand across a wide range of commercial use cases. The company's commercial readiness, field-tested product, and established presence in California position it well to respond to immediate regional fleet electrification needs. This milestone also comes as the global marine industry rapidly shifts toward clean propulsion. The combination of policy-driven funding and organic market demand creates a powerful tailwind for Vision Marine Technologies. "California has long been a bellwether for clean technology adoption," added Mongeon. "Our CORE approval enhances our visibility and competitiveness in this key market, while reinforcing our ability to scale as electrification expands across North America." About Vision Marine Technologies Inc. Vision Marine Technologies Inc. (NASDAQ:VMAR) is a leader in high-performance electric marine propulsion. Its flagship E-Motion™ 180E system delivers 180 HP of continuous power through a fully integrated, scalable electric powertrain platform. Built for reliability and commercial-grade use, Vision Marine's solutions serve OEMs, fleet operators, government agencies, and rental services across North America. For more information, visit: About the CORE Program The Clean Off-Road Equipment (CORE) Voucher Incentive Project is administered by the California Air Resources Board (CARB) and funded by the state's Cap-and-Trade program. CORE provides point-of-sale vouchers that help reduce the upfront cost of zero-emission off-road equipment, including marine technologies. The program is designed to accelerate the adoption of cleaner equipment and support California's climate and air quality goals. To learn more, visit: Forward-Looking Statements Certain statements in this press release, including, but not limited to, statements regarding the anticipated benefits of the exclusive supply agreement, market expansion, and future events, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on assumptions and subject to various risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Vision Marine disclaims any obligation to update these statements except as required by law. Actual results may differ materially from those expressed or implied. For a detailed discussion of these risks, refer to Vision Marine's Annual Report on Form 20-F for the year ended August 31, 2024, and other periodic filings with the SEC. Vision Marine does not undertake any obligation to update or revise forward-looking statements other than as required by law. Investor Relations Contact: Vision Marine Technologies Nurse - Investor Relationsbn@ 919-2193 Website: Twitter: @marine_visionFacebook: @VisionMarineTechnologiesInstagram: @ @VisionMarineTechnologies SOURCE: Vision Marine Technologies Inc
