Vision Marine Technologies (NASDAQ:VMAR) reported financial results for its second fiscal quarter ended February 28, 2026, showcasing a period defined by aggressive balance sheet repair and the rapid operational integration of its Neogy (NVG) division.
The company recorded revenue of $14.53 million for the quarter, yielding a gross profit of $4.40 million.
This performance represents a healthy 30% gross margin, reflecting the premium positioning of its electric marine propulsion systems and specialized assets.
A primary highlight of the report was the significant reduction in bottom-line pressure, with the net loss narrowing by 56.8% to $1.86 million compared to previous reporting periods.
While the company posted an EBITDA loss of $2.14 million, the NVG segment is reportedly approaching EBITDA breakeven, signaling a shift toward operational self-sufficiency.
Vision Marine ended the quarter with a cash position of $4.1 million and a robust working capital surplus of $10 million.
Meanwhile, the company’s focus on inventory management and debt reduction was evident, as NVG-related inventory decreased by $10.6 million and floor plan liabilities were reduced by $23.8 million, significantly de-risking the corporate balance sheet.