Latest news with #VisionMarine
Miami Herald
18 hours 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
Yahoo
5 days ago
- Automotive
- Yahoo
Nautical Ventures Joins Shaun Torrente Racing for the 2025 Offshore Super Stock Series
A new collaboration with one of racing's biggest names kicks off this weekend in Sheboygan, Wisconsin FT LAUDERDALE, FL / / August 8, 2025 / Vision Marine Technologies Inc. (NASDAQ:VMAR) ("Vision Marine" or the "Company"), a pioneer in high-voltage electric marine propulsion and a multi-brand boat retailer with a strong dealership network across Florida, Nautical Ventures, your go-to people for fun on the water, is proud to announce its collaboration with Shaun Torrente Racing (STR) for the 2025 Offshore Super Stock Series-bringing championship racing energy into the heart of the Nautical Ventures community. This exciting collaboration pairs Nautical Ventures with Shaun Torrente, a multiple UIM World Champion, XCAT World Champion, and one of the most respected names in offshore powerboat racing. As throttleman for STR, Torrente teams up with driver Matt Jamniczky aboard their custom STR Powerboat, carrying Nautical Ventures branding as they compete across the U.S. this season. With nine locations across Florida and a lineup that includes everything from pontoons to tenders to electric boats, Nautical Ventures is all about delivering the best on-water experiences-whether you're relaxing with family or diving into performance. Since 2020, the company has sold and rigged over 1,900 Mercury outboards, helping customers make the most of their time on the water. Shaun Torrente's connection to Nautical Ventures and parent company Vision Marine runs deep. He played a leading role in Vision Marine's historic 116 mph electric speed record at the Lake of the Ozarks Shootout, showcasing how innovation and adrenaline can go hand in hand. "I'm excited to welcome Vision Marine and Nautical Ventures as part of the STR team," said Shaun Torrente. "This is more than a sponsorship-it's a strong collaboration rooted in real alignment and shared passion. We've already made history together once, and with the season heating up, I'm glad to have them onboard as we push for even more wins." The 2025 Offshore Super Stock season continues this weekend at the Sheboygan, Wisconsin Grand Prix, running August 8-10. If you're a fan of power, precision, and high-performance boating, this is one race you won't want to miss. About Nautical VenturesAt Nautical Ventures, we're the go-to people for fun on the water. With nine Florida locations and one of the widest selections of boats, tenders, electric vessels, outboards, and water toys in the U.S., we make it easy to find your dream boat-and everything you need to enjoy it. Whether you're cruising, fishing, exploring, or just relaxing, our team is here to help you get out there and make the most of every moment on the water. More about Nautical Ventures promotion can be found at: About Vision Marine Technologies Marine Technologies Inc. (NASDAQ:VMAR) is a technology company specializing in high-voltage electric propulsion systems for the marine industry. The Company's flagship product, the E-Motion™ 180E, is a fully industrialized high-voltage electric outboard system for recreational boating, validated through partnerships with leading industry players. With the recent acquisition of Nautical Ventures Group, Vision Marine has expanded its sales and service network on the East Coast of the United States. Through Nautical Ventures' multi-brand retail operations, Vision Marine now offers both traditional internal combustion engine (ICE) boats and next-generation electric propulsion solutions, providing a full range of products to meet the current and evolving needs of recreational boaters. For more information, visit Forward-Looking StatementsThe statements contained in this press release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include Vision Marine's plans for commercial deployment, expansion of sales and service capabilities, and market adoption of its electric propulsion systems. These statements are subject to risks and uncertainties, including the Company's ability to execute its growth strategy, integrate new operations, and drive market adoption. Actual results may differ materially from those projected. Vision Marine undertakes no obligation to update forward-looking statements, except as required by law. Investor and Company Contact:Bruce NurseInvestor Relations(303) 919‑2913bn@v‑ SOURCE: Vision Marine Technologies Inc View the original press release on ACCESS Newswire
Yahoo
28-07-2025
- Automotive
- Yahoo
Vision Marine Technologies Accelerates Global Leadership in Tender Market, Deploys Strategic Growth Initiatives
MONTREAL, QC / / July 28, 2025 / Vision Marine Technologies Inc. (NASDAQ:VMAR) ("Vision Marine" or the "Company"), a pioneer in high-voltage electric marine propulsion and a multi-brand boat retailer with a strong dealership network across Florida, today announced the expansion of its commercial activities across the global tender market-a high-turnover, high-impact segment in which the Company now holds a commanding position. Following its acquisition of Florida-based Nautical Ventures Group, Winner of Boating Industry's Top 100 Dealer of the Year award in 2024, Vision Marine has become one of the largest US distributors of Highfield Boats-which bills itself as the world's number one manufacturer of rigid inflatable tenders. Highfield reports having delivered approximately 54,000 units globally since 2011. Vision Marine now accounts for a leading share of its North American 2022 to 2024, Nautical Ventures Group, which Vision Marine acquired in June 2025, sold in excess of 600 tenders across its Florida-based dealership network, generating more than $14 million in revenue. In 2023 alone, Nautical Ventures sold more than 200 units, representing over $4 million in tender-related sales. These strong historical results-achieved prior to the acquisition-form the commercial backbone of Vision Marine's current tender strategy and reflect the performance capacity of the Company's seven high-volume dealership locations strategically positioned across Florida, the epicentre of U.S. recreational boating. Vision Marine has also allocated a dedicated retail and service facility at 1440 South Federal Highway in Fort Lauderdale, focused exclusively on tenders and inflatables. This strategic property supports showroom expansion, accompanied by its marina which provides service capacity, aftermarket support for quick turnaround and on-site integration of both gas-powered and electric tenders, accelerating inventory turnover and operational readiness in this high-growth category. "The tender is no longer just a yacht accessory-it's a standalone product category that delivers volume, visibility, and direct consumer engagement," said Alexandre Mongeon, CEO of Vision Marine. "This segment gives us early access to a new generation of boaters and fleet operators, many of whom are already shifting from ICE to electric. That makes tenders not only commercially strategic, but transformational for our business model." The global inflatable boat market is expected to reach an estimated $4 billion by 2030 from $2 billion in 2023 at a CAGR of 7% from 2023 to 2030. Interest in electric propulsion is steadily increasing across the marine industry, particularly in the tender category, where size, use case, and user expectations align naturally with electrified solutions. Vision Marine is strategically positioned to serve this shift, combining its proprietary high-voltage electric technology with a growing retail footprint and integration part of its broader effort to accelerate inventory turnover and maximize retail performance across its store network, Nautical Ventures recently launched a limited-time tender promotion across all Nautical Ventures locations. The initiative is designed to create rapid movement of key models, increase showroom traffic, and support year-round sell-through-a shift that reflects Vision Marine's renewed focus on retail efficiency and high-frequency customer engagement. Tenders now span a wide range of applications-from compact inflatables and luxury yacht support vessels to robust standalone boats used for diving, waterfront commuting, and light commercial activity. Vision Marine supports both internal combustion and electric configurations, including integration with the Company's own E-Motion™ 180E high-voltage electric powertrain. With full-service integration and delivery available through its dealership network, Vision Marine is uniquely equipped to meet growing demand for reliable, high-performance tenders. The Company's scale and full vertical integration-spanning propulsion innovation, OEM collaboration, direct retail, and post-sale service-enables it to deliver unmatched consumer experience and operational control. Nowhere is this model more evident than in the tender segment, where Vision Marine plans to increase both market share and customer retention through a blend of volume strategy and premium support. This focus on the tender segment-particularly its electrification-is designed to deliver long-term shareholder value through a combination of volume growth, margin expansion, and recurring revenue potential. As the market accelerates toward electric solutions, Vision Marine is leveraging its proprietary propulsion technology, dealership assets, and integration expertise to build a durable and scalable marine platform. More about Nautical Ventures promotion can be found at: Vision Marine Technologies Inc. Vision Marine Technologies Inc. (NASDAQ: VMAR) is a technology company specializing in high-voltage electric propulsion systems for the marine industry. The Company's flagship product, the E-Motion™ 180E, is a fully industrialized high-voltage electric outboard system for recreational boating, validated through partnerships with leading industry players. With the recent acquisition of Nautical Ventures Group, Vision Marine has expanded its sales and service network on the East Coast of the United States. Through Nautical Ventures' multi-brand retail operations, Vision Marine now offers both traditional internal combustion engine (ICE) boats and next-generation electric propulsion solutions, providing a full range of products to meet the current and evolving needs of recreational boaters. For more information, visithttps:// Forward-Looking Statements The statements contained in this press release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include Vision Marine's plans for commercial deployment, expansion of sales and service capabilities, and market adoption of its electric propulsion systems. These statements are subject to risks and uncertainties, including the Company's ability to execute its growth strategy, integrate new operations, and drive market adoption. Actual results may differ materially from those projected. Vision Marine undertakes no obligation to update forward-looking statements, except as required by law. Investor and Company Contact:Bruce NurseInvestor Relations(303) 919‑2913bn@v‑ SOURCE: Vision Marine Technologies Inc View the original press release on ACCESS Newswire Sign in to access your portfolio
Miami Herald
16-07-2025
- Automotive
- Miami Herald
Vision Marine Technologies Powers into Commercial Growth Phase, Appoints Daniel Rathe CTO of Operations
Nautical Ventures acquisition and completion of current product development drive next stage of electric boating deployment MONTRÉAL, QUEBEC / ACCESS Newswire / July 16, 2025 / Vision Marine Technologies Inc. (NASDAQ:VMAR) ("Vision Marine" or the "Company"), a pioneer in high-voltage electric marine propulsion systems, today announced the promotion of Daniel Rathe to Chief Technical Officer ("CTO") of its operations. Since the acquisition of Nautical Ventures Group Inc. ("NVG"), Vision Marine has strategically focused on actively supporting the U.S. boat market through its network of nine dedicated dealers across Florida. Nautical Ventures, recognized for its robust sales performance and a 5-year EBITDA compound annual growth rate (CAGR) in excess of 20%, plays a pivotal role in this approach - providing a strong commercial foundation for Vision Marine to expand its regional footprint. This targeted support is designed to drive growth, strengthen dealer relationships, and capitalize on the vibrant Florida boating community - ultimately positioning the Company for long-term success in the U.S. market. This leadership appointment also coincides with the transition from the development stage of Vision Marine's E-Motion™ 180E high-voltage electric powertrain, marking the beginning of the Company's scale-up and deployment phase. Vision Marine also announces the conclusion of Chief Operating Officer and Chief Technology Officer Xavier Montagne's contract. Mr. Montagne has completed his mandate following the successful industrialization and validation of the E-Motion™ 180E powertrain - a project he led from concept to commercialization. His work has laid the foundation for Vision Marine's entry into commercial deployment. A seamless transition plan is already in place with the appointment of Daniel Rathe as CTO. Mr. Rathe, who worked under the close mentorship of Mr. Montagne for over two years, will lead this next chapter to boost the integration and deployment of Vision Marine's technology across Nautical Ventures' sales network. Over the past two years, Mr. Rathe has played a critical role for the Company in Florida, coordinating technical operations, boat integrations, and testing of Vision Marine's E-Motion™ 180E high-voltage electric powertrain. Under his leadership, the Vision Marine Florida team will now concentrate its efforts on system conformity, installation, testing, and the establishment of high-voltage rigging bays across Nautical Ventures' prime locations. This expansion is designed to accelerate customer adoption of E-Motion™ powered electric boats, coupled with our expected market share gain, while promoting industry-leading support for electric boat deployments. The E-Motion™ 180E high-voltage electric powertrain - the first fully industrialized solution of its kind in recreational marine-has now completed its development and industrialization stage, including rigorous validation with McLaren Engineering. This milestone fulfils the technical mandate led by Mr. Montagne and represents a significant inflection point in Vision Marine's evolution. With the product development phase complete, Vision Marine is now focusing its resources on commercial implementation, sales, and services, utilizing Nautical Ventures' strategic sales and operational footprint to reach new customers and markets. "Daniel's leadership and technical expertise, combined with the strong operational platform provided by Nautical Ventures, position Vision Marine to capitalize on the growing demand for electric marine propulsion," said Alexandre Mongeon, Chief Executive Officer ("CEO") of Vision Marine Technologies. "We are now entering the most exciting phase of our journey, bringing our technology to market at scale." Board Update Separately, Vision Marine Technologies announces the resignation of Mr. Anthony E. Cassella, Jr. from its Board of Directors, effective July 11, 2025. Mr. Cassella made the decision to step down in light of potential and perceived conflicts between his professional activities at MarineMax and his role on Vision Marine's Board. "I've had the privilege of learning from one of the best," said Alexandre Mongeon, CEO of Vision Marine Technologies. "I sincerely thank Anthony Cassella for his unwavering support, exemplary leadership, and invaluable guidance during his tenure on the Board. His dedication has left a lasting impact on our organization, and I'm truly grateful for the opportunity to have benefited from his expertise." The Company sincerely thanks Mr. Cassella for his valuable contributions to Vision Marine's mission and growth. Vision Marine remains fully committed to executing its strategic plan, which includes expanding both its high-voltage electric propulsion business and its multi-brand retail operations, offering internal combustion engine (ICE) boats and next-generation electric solutions through its Nautical Ventures network. About Vision Marine Technologies Inc. Vision Marine Technologies Inc. (NASDAQ: VMAR) is a technology company specializing in high-voltage electric propulsion systems for the marine industry. The Company's flagship product, the E-Motion™ 180E, is the first fully industrialized high-voltage electric outboard system for recreational boating, validated through partnerships with leading industry players. With the recent acquisition of Nautical Ventures Group, Vision Marine has expanded its sales and service network on the East Coast of the United States. Through Nautical Ventures' multi-brand retail operations, Vision Marine now offers both traditional internal combustion engine (ICE) boats and next-generation electric propulsion solutions, providing a full range of products to meet the current and evolving needs of recreational boaters. For more information, visithttps:// Forward-Looking Statements The statements contained in this press release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include Vision Marine's plans for commercial deployment, expansion of sales and service capabilities, and market adoption of its electric propulsion systems. These statements are subject to risks and uncertainties, including the Company's ability to execute its growth strategy, integrate new operations, and drive market adoption. Actual results may differ materially from those projected. 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
USA Today
01-07-2025
- Automotive
- USA Today
Vision Marine Technologies to Host Investor Call Following Strategic Acquisition of Nautical Ventures Group
Vision Marine Technologies Inc. (NASDAQ:VMAR) ('Vision Marine' or the 'Company'), a leading innovator in high-voltage electric marine propulsion systems, today announced it will host a live investor call and webcast to discuss the Company's acquisition of Nautical Ventures Group Inc.('Nautical Ventures, named the 2024 Boating Industry Top Dealer of the Year by Boating Industry. Nautical Ventures has generated over US $100 million in annual revenue from 2020 to 2023, with a strong presence across Florida and national exposure through its boat show attendance, brand portfolio, and digital marketing platform. The acquisition represents a major milestone in Vision Marine's growth strategy, providing access to a proven retail and service infrastructure and facilitating the market rollout of its E-Motion™ electric powertrain systems. Event Details : Wednesday, July 2, 2025, at 11:30 am ET / 8:30 am PT. The Vision Marine conference call may be accessed as follows : Webcast URL: Teleconference: Toll Free: 888-506-0062 International: 973-528-0011 Participant Access Code: 181749 Vision Marine's management team plans to share insights into how this strategic move supports its broader vision for scaling electric propulsion in the recreational marine industry, enhances operational reach, and positions the Company for long-term growth. About Vision Marine Technologies Inc. Vision 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, Inc. Nautical 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 Statements This 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 Relations Vision Marine Technologies Inc. (303) 919-2913 bn@ SOURCE: Vision Marine Technologies Inc View the original press release on ACCESS Newswire
