VMAR: Vision Marine Technologies Inc Financial Statements

Balance sheet, income statement, and cash flow statements for Vision Marine Technologies Inc (VMAR).

OverviewDividends

$2.04M Market Cap.

As of 07/11/2025 5:00 PM ET (MRY) • Disclaimer

VMAR Market Cap. (MRY)


VMAR Shares Outstanding (MRY)


VMAR Assets (MRY)


Total Assets

$11.42M

Total Liabilities

$8.40M

Total Investments

$5.93K

VMAR Income (MRY)


Revenue

$3.79M

Net Income

-$14.06M

Operating Expense

$23.47M

VMAR Cash Flow (MRY)


CF Operations

-$11.64M

CF Investing

$615.61K

CF Financing

$7.73M

VMAR Balance Sheet (MRY)


Metric

2024

2023

2022

2021

Total Assets

$11,420,241 (-52.51%)

$24,046,512 (-17.37%)

$29,100,209 (-25.00%)

$38,801,292 (968.43%)

Assets Current

$8,613,567 (1.49%)

$8,487,113 (-26.84%)

$11,600,940 (-45.59%)

$21,321,397 (773.62%)

Assets Non-Current

$2,806,674 (-81.96%)

$15,559,399 (-11.09%)

$17,499,269 (0.11%)

$17,479,895 (1367.63%)

Goodwill & Intangible Assets

$868,543 (-91.84%)

$10,647,665 (1.74%)

$10,465,310 (2.01%)

$10,259,360 (0%)

Shareholders Equity

$3,019,987 (-73.89%)

$11,564,437 (-51.87%)

$24,028,596 (-28.33%)

$33,525,187 (4133.43%)

Property Plant & Equipment Net

$1,839,229 (-61.10%)

$4,728,519 (5.55%)

$4,480,082 (3.71%)

$4,319,708 (262.69%)

Cash & Equivalents

$63,126 (-98.12%)

$3,359,257 (-42.33%)

$5,824,716 (-67.90%)

$18,147,821 (1299.41%)

Accumulated Other Comprehensive Income

$1,127,048 (9.14%)

$1,032,628 (48.01%)

$697,671 (79.55%)

$388,566 (0%)

Deferred Revenue

$827,642 (-54.42%)

$1,815,731 (76.40%)

$1,029,318 (14.53%)

$898,713 (4296.19%)

Total Investments

$5,929 (-94.83%)

$114,755 (-95.51%)

$2,553,877 (-11.42%)

$2,883,280 (0%)

Investments Current

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Investments Non-Current

$5,929 (-94.83%)

$114,755 (-95.51%)

$2,553,877 (-11.42%)

$2,883,280 (0%)

Inventory

$6,209,287 (153.90%)

$2,445,554 (16.80%)

$2,093,776 (5.96%)

$1,976,084 (302.03%)

Trade & Non-Trade Receivables

$138,656 (-74.83%)

$550,836 (16.57%)

$472,548 (47.79%)

$319,740 (304.60%)

Trade & Non-Trade Payables

$4,497,508 (156.28%)

$1,754,900 (70.32%)

$1,030,331 (21.49%)

$848,054 (32.54%)

Accumulated Retained Earnings (Deficit)

-$65,609,357 (-27.28%)

-$51,548,737 (-68.07%)

-$30,671,552 (-74.67%)

-$17,559,766 (-617.94%)

Tax Assets

$99,427 (-40.46%)

$167,000 (-75.50%)

$681,663 (441.65%)

$125,849 (-68.71%)

Tax Liabilities

$0 (0%)

$45,137 (-76.40%)

$191,232 (-26.72%)

$260,963 (895.43%)

Total Debt

$803,048 (-75.03%)

$3,215,818 (14.01%)

$2,820,732 (-13.70%)

$3,268,375 (51.79%)

Debt Current

$308,090 (-74.06%)

$1,187,879 (46.45%)

$811,092 (0.16%)

$809,759 (-35.04%)

Debt Non-Current

$494,958 (-75.59%)

$2,027,939 (0.91%)

$2,009,640 (-18.26%)

$2,458,616 (171.17%)

Total Liabilities

$8,400,254 (-32.70%)

$12,482,075 (146.12%)

$5,071,613 (-3.88%)

$5,276,105 (85.80%)

Liabilities Current

$7,689,681 (58.54%)

$4,850,177 (68.76%)

$2,873,929 (6.65%)

$2,694,834 (41.33%)

Liabilities Non-Current

$710,573 (-90.69%)

$7,631,898 (247.27%)

$2,197,684 (-14.86%)

$2,581,271 (176.70%)

VMAR Income Statement (MRY)


Metric

2024

2023

2022

2021

Revenues

$3,794,345 (-32.86%)

$5,651,502 (-23.12%)

$7,350,946 (109.20%)

$3,513,788 (45.37%)

Cost of Revenue

$2,296,907 (-44.18%)

$4,115,076 (1.22%)

$4,065,381 (112.89%)

$1,909,606 (5.34%)

Selling General & Administrative Expense

$7,690,166 (-27.35%)

$10,584,977 (45.85%)

$7,257,688 (77.88%)

$4,080,127 (445.14%)

Research & Development Expense

$2,739,022 (-51.99%)

$5,704,912 (154.37%)

$2,242,794 (50.53%)

$1,489,953 (0%)

Operating Expenses

$23,469,871 (-3.41%)

$24,299,023 (52.68%)

$15,915,347 (9.69%)

$14,509,856 (425.68%)

Interest Expense

-$7,480,761 (-366.23%)

-$1,604,536 (-817.40%)

$223,660 (-90.09%)

$2,256,392 (1981.54%)

Income Tax Expense

-$255,463 (9.05%)

-$280,875 (-208.72%)

$258,343 (144.67%)

$105,590 (395.52%)

Net Loss Income from Discontinued Operations

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Consolidated Income

-$14,060,620 (32.65%)

-$20,877,186 (-59.22%)

-$13,111,785 (13.25%)

-$15,113,907 (-564.19%)

Net Income to Non-Controlling Interests

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Net Income

-$14,060,620 (32.65%)

-$20,877,186 (-59.22%)

-$13,111,785 (13.25%)

-$15,113,907 (-564.19%)

Preferred Dividends Income Statement Impact

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Net Income Common Stock

-$14,060,620 (32.65%)

-$20,877,186 (-59.22%)

-$13,111,785 (13.25%)

-$15,113,907 (-564.19%)

Weighted Average Shares

$9,153 (31.53%)

$6,959 (12.31%)

$6,196 (12.84%)

$5,491 (77.36%)

Weighted Average Shares Diluted

$9,153 (31.53%)

$6,959 (12.31%)

$6,196 (12.84%)

$5,491 (77.36%)

Earning Before Interest & Taxes (EBIT)

-$21,796,844 (4.24%)

-$22,762,597 (-80.23%)

-$12,629,782 (0.96%)

-$12,751,925 (-494.27%)

Gross Profit

$1,497,438 (-2.54%)

$1,536,426 (-53.24%)

$3,285,565 (104.81%)

$1,604,182 (165.42%)

Operating Income

-$21,972,433 (3.47%)

-$22,762,597 (-80.23%)

-$12,629,782 (2.14%)

-$12,905,674 (-498.64%)

VMAR Cash Flow Statement (MRY)


Metric

2024

2023

2022

2021

Net Cash Flow from Investing

$615,608 (214.63%)

-$537,020 (44.32%)

-$964,503 (89.81%)

-$9,468,395 (-25044.45%)

Net Cash Flow from Financing

$7,730,465 (-36.00%)

$12,079,484 (3438.88%)

-$361,783 (-101.05%)

$34,570,833 (1896.43%)

Net Cash Flow from Operations

-$11,642,204 (16.89%)

-$14,007,923 (-27.38%)

-$10,996,819 (-33.27%)

-$8,251,438 (-1798.37%)

Net Cash Flow / Change in Cash & Cash Equivalents

-$3,296,131 (-33.69%)

-$2,465,459 (79.99%)

-$12,323,105 (-173.13%)

$16,851,000 (1238.10%)

Net Cash Flow - Business Acquisitions and Disposals

$1,089,302 (0%)

$0 (0%)

$0 (0%)

-$5,029,416 (0%)

Net Cash Flow - Investment Acquisitions and Disposals

-

$0 (0%)

$0 (0%)

-$3,400,000 (0%)

Capital Expenditure

-$473,694 (11.79%)

-$537,020 (44.32%)

-$964,503 (7.17%)

-$1,038,979 (-1232.61%)

Issuance (Repayment) of Debt Securities

-$596,027 (-14.29%)

-$521,500 (-40.27%)

-$371,784 (57.96%)

-$884,406 (-4108.18%)

Issuance (Purchase) of Equity Shares

$1,781,194 (-85.86%)

$12,600,984 (125897.24%)

$10,001 (-99.97%)

$35,455,239 (1805.02%)

Payment of Dividends & Other Cash Distributions

-

$0 (0%)

$0 (0%)

$0 (0%)

Effect of Exchange Rate Changes on Cash

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Share Based Compensation

$395,988 (-65.15%)

$1,136,182 (-57.91%)

$2,699,481 (-62.09%)

$7,121,444 (442.76%)

Depreciation Amortization & Accretion

$1,022,437 (-3.63%)

$1,060,897 (11.03%)

$955,513 (129.11%)

$417,050 (145.06%)

VMAR Financial Metrics (MRY)


Metric

2024

2023

2022

2021

Gross Margin

39.50% (45.22%)

27.20% (-39.15%)

44.70% (-2.19%)

45.70% (82.80%)

Profit Margin

-370.60% (-0.32%)

-369.40% (-107.06%)

-178.40% (58.52%)

-430.10% (-357.07%)

EBITDA Margin

-547.50% (-42.58%)

-384.00% (-141.81%)

-158.80% (54.76%)

-351.00% (-329.62%)

Return on Average Equity (ROAE)

-206.40% (-36.42%)

-151.30% (-199.60%)

-50.50% (42.68%)

-88.10% (87.23%)

Return on Average Assets (ROAA)

-77.30% (12.66%)

-88.50% (-110.71%)

-42.00% (41.01%)

-71.20% (13.28%)

Return on Sales (ROS)

-574.50% (-42.63%)

-402.80% (-134.46%)

-171.80% (52.66%)

-362.90% (-308.67%)

Return on Invested Capital (ROIC)

-264.90% (-6.86%)

-247.90% (-167.13%)

-92.80% (50.69%)

-188.20% (-96.66%)

Dividend Yield

0% (0%)

0% (0%)

0% (0%)

0%

Price to Earnings Ratio (P/E)

-0.2 (91.28%)

-2.26 (57.62%)

-5.33 (-35.56%)

-3.93

Price to Sales Ratio (P/S)

0.73 (-91.27%)

8.35 (-12.24%)

9.51 (-43.82%)

16.93

Price to Book Ratio (P/B)

0.92 (-78.72%)

4.31 (47.76%)

2.92 (51.64%)

1.93

Debt to Equity Ratio (D/E)

2.78 (157.83%)

1.08 (411.37%)

0.21 (34.39%)

0.16 (-95.62%)

Earnings Per Share (EPS)

-1,536.2 (48.80%)

-3,000.2 (-41.78%)

-2,116.1 (23.16%)

-2,754 (-264.29%)

Sales Per Share (SPS)

304.82 (-49.33%)

601.59 (-34.08%)

912.6 (78.27%)

511.93 (-13.46%)

Free Cash Flow Per Share (FCFPS)

-1,323.72 (36.67%)

-2,090.18 (-8.27%)

-1,930.46 (-14.10%)

-1,691.92 (-921.70%)

Book Value Per Share (BVPS)

329.95 (-80.15%)

1,661.87 (-57.15%)

3,878.02 (-36.48%)

6,105.44 (2286.60%)

Tangible Assets Book Value Per Share (TABVPS)

1,152.83 (-40.13%)

1,925.48 (-35.98%)

3,007.52 (-42.14%)

5,197.91 (343.07%)

Enterprise Value Over EBIT (EV/EBIT)

0 (0%)

-2 (60.00%)

-5 (-66.67%)

-3

Enterprise Value Over EBITDA (EV/EBITDA)

-0.19 (92.02%)

-2.39 (57.26%)

-5.6 (-66.25%)

-3.37

Asset Turnover

0.21 (-12.92%)

0.24 (2.13%)

0.23 (41.57%)

0.17 (-80.96%)

Current Ratio

1.12 (-36.00%)

1.75 (-56.65%)

4.04 (-48.98%)

7.91 (518.13%)

Dividends

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Free Cash Flow (FCF)

-$12,115,898 (16.70%)

-$14,544,943 (-21.60%)

-$11,961,322 (-28.75%)

-$9,290,417 (-1712.33%)

Enterprise Value (EV)

$2,917,712 (-92.42%)

$38,484,672 (-23.48%)

$50,295,679 (51.29%)

$33,244,699

Earnings Before Tax (EBT)

-$14,316,083 (32.34%)

-$21,158,061 (-64.61%)

-$12,853,442 (14.36%)

-$15,008,317 (-565.79%)

Earnings Before Interest Taxes & Depreciation Amortization (EBITDA)

-$20,774,407 (4.27%)

-$21,701,700 (-85.89%)

-$11,674,269 (5.36%)

-$12,334,875 (-524.35%)

Invested Capital

$3,601,939 (-57.15%)

$8,405,231 (-34.11%)

$12,756,986 (16.31%)

$10,967,652 (324.91%)

Working Capital

$923,886 (-74.60%)

$3,636,936 (-58.33%)

$8,727,011 (-53.15%)

$18,626,563 (3389.69%)

Tangible Asset Value

$10,551,698 (-21.25%)

$13,398,847 (-28.10%)

$18,634,899 (-34.71%)

$28,541,932 (685.93%)

Market Capitalization

$2,037,846 (-94.48%)

$36,946,987 (-31.52%)

$53,951,434 (4.52%)

$51,618,971

Average Equity

$6,812,904 (-50.61%)

$13,795,320 (-46.85%)

$25,953,216 (51.26%)

$17,158,551 (5102.62%)

Average Assets

$18,194,247 (-22.88%)

$23,592,352 (-24.44%)

$31,224,518 (47.17%)

$21,216,458 (665.08%)

Invested Capital Average

$8,228,117 (-10.39%)

$9,181,700 (-32.56%)

$13,614,968 (100.98%)

$6,774,418 (202.14%)

Shares

9,167 (24.60%)

7,357 (18.37%)

6,215 (4.35%)

5,956 (8.67%)