Vision Marine Technologies Reports Third Quarter 2022 Financial Results
Vision Marine Technologies Inc. - Common Shares (VMAR)
Company Research
Source: GlobeNewswire
MONTREAL, July 21, 2022 (GLOBE NEWSWIRE) -- Vision Marine Technologies (NASDAQ: VMAR) (“Vision Marine” or the “Company”), the leader in electric transition of the recreational boating industry, has filed its fiscal 2022 Q3 results. Revenue for the three months ended May 31, 2022, totaled CAD$2.01 million, which represented a year over year increase of 161% over the CAD$0.77 million reported in the like quarter in 2021. The sharp increase in revenue is largely the result of the inclusion of revenue generated by Vision Marine’s flagship boat rental operation, located in Newport Beach (“EBR”). EBR, acquired in June 2021, contributed CAD $854,620 in gross profits. Vision Marine reported a sharp narrowing of its operating loss for the quarter, which declined to CAD$1.94 million from the CAD$4.8 million reported one year ago. Cash on hard totaled CAD$7.9 million, which declined in part to non-recurring expenses related to securing the company’s supply chain, notably purchasi
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VMAR
Earnings
- 1/16/24 - Beat
VMAR
Sec Filings
- 4/15/24 - Form 6-K
- 4/5/24 - Form 6-K
- 4/5/24 - Form 20-F/A
- VMAR's page on the SEC website