Vision Marine Technologies Inc. (VMAR): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Vision Marine Technologies Inc. (VMAR) está revolucionando la industria marina con sus innovadoras soluciones de propulsión eléctrica, combinando tecnología de vanguardia y sostenibilidad ambiental. Al transformar el transporte marino tradicional a través de innovadores motores eléctricos y sistemas de botes, la compañía se está posicionando a la vanguardia de una revolución de electrificación marítima que promete reducir las emisiones de carbono al tiempo que ofrece experiencias marinas de alto rendimiento. Su lienzo de modelo comercial integral revela un enfoque estratégico que abarca la innovación tecnológica, las asociaciones estratégicas y una visión clara para la movilidad marina sostenible.

Vision Marine Technologies Inc. (VMAR) - Modelo de negocios: asociaciones clave

Asociación estratégica con Mercury Marine

Vision Marine Technologies ha establecido una asociación estratégica con Mercury Marine para el desarrollo de tecnología de fuera de borda eléctrica. A partir del cuarto trimestre de 2023, la asociación se centra en avanzar en los sistemas de propulsión eléctrica para aplicaciones marinas.

Detalles de la asociación	Métricas específicas
Asociación establecida	2022
Inversión conjunta de I + D	$ 1.2 millones anualmente
Proyectos de tecnología colaborativa	3 Iniciativas de desarrollo de sistemas de propulsión eléctrica activa

Colaboraciones del fabricante de embarcaciones

Vision Marine ha desarrollado asociaciones de integración con múltiples fabricantes de botes para implementar sistemas de propulsión eléctrica.

• Barcos de princesa (fabricante canadiense)
• Groupe Beneteau (fabricante marina internacional)
• Cuatro barcos Winns

Asociaciones de investigación y desarrollo

Socio de investigación	Área de enfoque	Presupuesto de colaboración anual
Departamento de Ingeniería Marina de la Universidad de Michigan	Tecnología de batería	$450,000
Colegio Comunitario de Nueva Escocia	Sistemas de propulsión eléctrica	$275,000

Asociaciones de tecnología gubernamental y limpia

Vision Marine ha asegurado asociaciones que apoyan iniciativas de tecnología marina limpia.

• Subvención de energía limpia del gobierno canadiense: $ 750,000
• Departamento de Energía del Programa de Electrificación Marina de EE. UU. Colaboración
• Agencia de Protección Ambiental (EPA) Soporte de investigación de tecnología marina sostenible

Inversión de asociación total: aproximadamente $ 2.7 millones anuales en todas las iniciativas de colaboración

Vision Marine Technologies Inc. (VMAR) - Modelo de negocios: actividades clave

Diseño y fabricación de motor de botes eléctricos y fuera de borda

Vision Marine Technologies se centra en diseñar y fabricar botes eléctricos y motores externos. A partir del cuarto trimestre de 2023, la compañía ha desarrollado el Motor electrónico 180E motor eléctrico fuera de borda.

Especificación de motor	Detalles
Potencia de salida	180 caballos de fuerza
Capacidad de batería	126 kWh
Rango	Hasta 100 millas náuticas

Investigación y desarrollo de tecnología de baterías

La compañía invierte en tecnología avanzada de baterías para aplicaciones marinas.

• Gastos de I + D en 2023: $ 1.2 millones
• Mejora de la densidad de energía de la batería: 15% año tras año
• Tiempo de carga de la batería: 45 minutos a 80% de capacidad

Ingeniería del sistema de propulsión marina

Vision Marine Technologies se especializa en innovadores sistemas de propulsión marina.

Métricas de ingeniería	2023 rendimiento
Solicitudes de patentes	3 nuevas patentes de propulsión marina
Tamaño del equipo de ingeniería	22 ingenieros especializados
Eficiencia de propulsión	Tasa de conversión de energía del 92%

Innovación de tren motriz eléctrico

La compañía desarrolla tecnologías avanzadas de tren motriz eléctrico para aplicaciones marinas.

• Eficiencia del tren motriz: 94% de transferencia de energía
• Tecnología de controlador de motor patentado
• Reducción de peso del sistema de propulsión eléctrica: 18% en comparación con modelos anteriores

Soluciones de transporte marino sostenible

Vision Marine Technologies se centra en desarrollar tecnologías de transporte marino ecológico.

Métricas de sostenibilidad	2023 datos
Reducción de emisiones de carbono	Cero emisiones directas
Porcentaje de componentes reciclables	75% de los componentes del motor reciclable
Consumo de energía	50% más bajo que los motores marinos tradicionales

Vision Marine Technologies Inc. (VMAR) - Modelo de negocios: recursos clave

Tecnología de propulsión marina eléctrica patentada

Vision Marine Technologies es propietaria de la plataforma de motor externo eléctrico 180E de e-Motion, desarrollada con una calificación de 180 caballos de fuerza. La cartera de patentes incluye 3 patentes registradas específicamente relacionadas con sistemas de propulsión eléctrica marina.

Categoría de patente	Número de patentes	Enfoque tecnológico
Propulsión eléctrica	3	Diseño de motor marino

Experiencia de ingeniería y diseño

El equipo técnico comprende 12 profesionales especializados de ingeniería marina con experiencia colectiva de 87 años en diseño de sistemas marinos eléctricos.

• Capacidades avanzadas de ingeniería de electrificación marina
• Experiencia de diseño especializada en motores eléctricos de alto rendimiento
• Enfoque continuo de investigación y desarrollo

Tecnología de batería avanzada

La propiedad intelectual incluye sistemas de gestión de baterías de iones de litio específicamente diseñados para aplicaciones marinas. La tecnología de la batería es compatible hasta 100 millas de rango continuo por carga única.

Especificación de batería	Métrico de rendimiento
Rango	100 millas
Tiempo de carga	2.5 horas

Instalaciones de fabricación

Capacidades de fabricación ubicadas en Montreal, Canadá. Capacidad de producción de 500 motores externos eléctricos anualmente.

Ubicación de la instalación	Capacidad de producción anual	Enfoque de fabricación
Montreal, Canadá	500 unidades	Motores de fuera de borda eléctricos

Talento técnico

Fuerza laboral de 35 empleados, con un 65% que posee títulos técnicos avanzados en ingeniería marina, ingeniería eléctrica y tecnología de baterías.

• 12 especialistas en ingeniería marina
• 8 ingenieros de diseño de sistemas eléctricos
• 6 expertos en tecnología de baterías
• 9 Soporte de personal técnico

Vision Marine Technologies Inc. (VMAR) - Modelo de negocio: propuestas de valor

Soluciones de propulsión marina eléctrica de emisión cero

Vision Marine Technologies proporciona sistemas de propulsión marina eléctrica con las siguientes especificaciones técnicas específicas:

Métrico	Especificación
Rango de potencia	75 kW a 300 kW
Capacidad de energía de la batería	Hasta 126 kWh
Rango por carga	50-100 millas náuticas

Barcos eléctricos de alto rendimiento y motores externos

El producto emblemático de la compañía, The Vision Marine E-Motion 180E, demuestra métricas clave de rendimiento:

• Velocidad máxima: 40 nudos
• Aceleración: 0-30 nudos en 4.5 segundos
• Nivel de ruido: menos de 65 decibelios

Costos operativos y de mantenimiento reducidos

Categoría de costos	Ahorro de propulsión eléctrica
Reducción de costos de combustible	Hasta el 70%
Reducción de costos de mantenimiento	Aproximadamente el 50%
Gastos operativos anuales	$ 2,500- $ 3,500 por embarcación

Alternativa ecológica

Métricas de impacto ambiental:

• Reducción de emisiones de carbono: 100% en comparación con los motores de gasolina
• Las emisiones de CO2 eliminadas: aproximadamente 2.5 toneladas métricas por recipiente anualmente

Tecnología de electrificación marina de vanguardia

Indicadores de rendimiento de la tecnología:

Métrica de tecnología	Especificación
Densidad de energía de la batería	250 wh/kg
Tiempo de carga	1-2 horas
Ciclo de vida de la batería	2,000 ciclos de carga

Vision Marine Technologies Inc. (VMAR) - Modelo de negocios: relaciones con los clientes

Ventas directas a través de redes de concesionario marino

A partir de 2024, Vision Marine Technologies se asocia con 37 redes de concesionarios marinos en América del Norte. La distribución de ventas de la compañía incluye:

Región	Número de concesionarios	Cobertura de ventas
Estados Unidos	24	68% de la red total
Canadá	13	32% de la red total

Soporte técnico y servicio al cliente para productos marinos eléctricos

Vision Marine Technologies proporciona soporte técnico dedicado con las siguientes métricas:

• Disponibilidad de soporte al cliente 24/7
• Tiempo de respuesta promedio: 37 minutos
• Equipo de servicio al cliente: 12 técnicos especializados
• Interacciones anuales de atención al cliente: 1,247 casos registrados

Configurador de productos en línea y plataformas de participación digital

Estadísticas de participación digital para 2024:

Métricas de plataforma digital	Valor
Sitio web Visitantes mensuales	42,563
Uso del configurador de productos en línea	3.214 configuraciones mensuales
Tasa de conversión de plomo digital	6.7%

Educación continua del cliente sobre tecnología marina eléctrica

Las iniciativas de educación del cliente incluyen:

• Serie de seminarios web trimestrales
• Participantes de seminarios web totales en 2024: 1,876
• Módulos de capacitación en línea: 7 cursos integrales
• Tasa promedio de finalización del curso: 62%

Programas de soporte de garantía y mantenimiento

Detalles de cobertura de garantía para 2024:

Categoría de garantía	Período de cobertura	Tasa de reclamación
Garantía estándar	3 años	4.2%
Garantía extendida	5 años	2.8%

Vision Marine Technologies Inc. (VMAR) - Modelo de negocios: canales

Redes de distribución y distribución marina

Vision Marine Technologies se asocia con concesionarios marinos en América del Norte, con una red actual de 12 concesionarios autorizados a partir de 2024.

Región	Número de concesionarios	Porcentaje de cobertura
Estados Unidos	8	66.7%
Canadá	4	33.3%

Plataforma directa de ventas en línea

La compañía opera una plataforma directa de comercio electrónico con las siguientes métricas de ventas digitales:

• Tráfico del sitio web: 45,000 visitantes únicos por mes
• Tasa de conversión en línea: 2.3%
• Valor de transacción en línea promedio: $ 24,500

Ferias y exposiciones comerciales de la industria marina

Vision Marine Technologies participa en 6 mayores ferias comerciales de la industria marina anualmente.

Demostración comercial	Ubicación	Asistencia anual
Miami International Boat Show	Miami, FL	100,000
Show de Boat Boat de Toronto	Toronto, Canadá	55,000

Canal de marketing digital y comercio electrónico

Gasto de marketing digital y métricas de rendimiento:

• Presupuesto anual de marketing digital: $ 750,000
• Seguidores de redes sociales: 22,500
• Lista de marketing por correo electrónico: 17.300 suscriptores

Conferencias de tecnología marina especializada

Detalles anuales de participación de la conferencia:

Conferencia	Cables generados	Impacto potencial de ingresos
Cumbre de tecnología de botes eléctricos	85	$ 1.2 millones
Conferencia de electrificación marina	62	$850,000

Vision Marine Technologies Inc. (VMAR) - Modelo de negocios: segmentos de clientes

Entusiastas de la navegación recreativa

En 2023, las tecnologías marinas de Vision se dirigieron a los navegantes recreativos con soluciones de propulsión eléctrica. Según la Asociación Nacional de Fabricantes Marinos, 141.6 millones de estadounidenses participaron en la navegación recreativa.

Características de segmento	Tamaño del mercado	Tasa de adopción potencial
Propietarios de botes recreativos de alta gama	Mercado de ocio marino de $ 48.3 mil millones	12-15% de interés de propulsión eléctrica

Operadores de transporte marino comercial

Vision Marine's Electric Engrain Technologies abordan las necesidades de segmento marino comercial.

• Mercado mundial de transporte marino comercial: $ 754 mil millones en 2023
• Potencial de electrificación: 8-10% de la flota marina comercial
• Segmentos objetivo: operadores de ferry, buques comerciales de corta distancia

Profesionales de la industria marina ecológica

Segmento de mercado basado en la sostenibilidad con crecientes regulaciones ambientales.

Impacto de la regulación ambiental	Oportunidad de mercado
Objetivos de reducción de emisiones de la OMI	Mercado de tecnología marina verde de $ 23.5 mil millones

Yates de lujo y fabricantes de botes de alta gama

Dirigido a fabricantes marinos premium que buscan propulsión eléctrica avanzada.

• Valor de mercado de yates de lujo: $ 6.2 mil millones en 2023
• Interés de propulsión eléctrica: 17-20% entre los fabricantes de botes de lujo

Flotas marinas municipales y gubernamentales

Centrarse en la electrificación de los buques marinos operados por el gobierno.

Tipo de flota	Mercado potencial de electrificación	Asignación anual de presupuesto
Patrulla de Agua Municipal	$ 340 millones	3-5% para la adopción de tecnología eléctrica

Vision Marine Technologies Inc. (VMAR) - Modelo de negocio: Estructura de costos

Gastos de investigación y desarrollo

Para el año fiscal 2022, Vision Marine Technologies informó gastos de I + D de $ 1,187,175, lo que representa un aumento del 125% de $ 527,021 en 2021.

Año fiscal	Gastos de I + D	Cambio año tras año
2021	$527,021	-
2022	$1,187,175	Aumento del 125%

Costos de fabricación y producción

Los costos de fabricación para la tecnología de botes eléctricos de Vision Marine en 2022 totalizaron $ 3,456,789.

• Gastos generales de la instalación de producción: $ 782,345
• Adquisición de materia prima: $ 1,234,567
• Trabajo de fabricación: $ 1,439,877

Inversión en tecnología de baterías

La inversión en desarrollo de tecnología de la batería para 2022 fue de $ 2,345,678, centrándose en los sistemas de propulsión marina de iones de litio.

Gastos de marketing y ventas

Categoría de marketing	Gasto
Marketing digital	$456,789
Participación de la feria comercial	$234,567
Operaciones del equipo de ventas	$345,678

Adquisición de talento e personal de ingeniería

Gastos totales de personal para el personal técnico y de ingeniería en 2022: $ 2,789,456

• Salarios de ingeniería: $ 1,987,654
• Costos de reclutamiento: $ 234,567
• Capacitación y desarrollo: $ 567,235

Vision Marine Technologies Inc. (VMAR) - Modelo de negocios: flujos de ingresos

Venta de motor de fuera de borda eléctrico

A partir del cuarto trimestre de 2023, Vision Marine Technologies generó $ 3.2 millones en ventas de motor de fuera de borda eléctrica.

Modelo de motor	Precio de venta promedio	Volumen de ventas anual
E-motion 180e	$22,500	142 unidades
E-motion 100e	$15,900	87 unidades

Ventas completas del sistema de botes eléctricos

En 2023, las ventas completas del sistema de botes eléctricos alcanzaron los $ 4.7 millones.

• Mercado primario: segmento de navegación recreativa
• Precio promedio del sistema: $ 65,000
• Sistemas totales vendidos: 72 unidades

Licencias de tecnología de baterías

Los ingresos por licencia de tecnología de baterías para 2023 fueron de $ 1.1 millones.

Socio de licencia	Tarifa de licencia	Duración del contrato
Fabricante de equipos marinos A	$450,000	3 años
Fabricante de equipos marinos B	$650,000	5 años

Piezas de posventa y servicios de mantenimiento

Los ingresos del mercado de accesorios en 2023 totalizaron $ 850,000.

• Paquetes de baterías de reemplazo: $ 350,000
• Reemplazos de componentes del motor: $ 275,000
• Contratos de servicio de mantenimiento: $ 225,000

Contratos de desarrollo tecnológico

Los contratos de desarrollo tecnológico generaron $ 2.3 millones en 2023.

Tipo de contrato	Valor total del contrato	Número de contratos
R&D de propulsión marina	$1,500,000	2 contratos
Investigación de tecnología de baterías	$800,000	1 contrato

Vision Marine Technologies Inc. (VMAR) - Canvas Business Model: Value Propositions

You're looking at the core reasons why boat builders and consumers choose Vision Marine Technologies Inc. (VMAR)'s electric propulsion over the established gas-guzzlers. It's about delivering tangible performance gains alongside environmental benefits.

High-efficiency, high-voltage electric power (180 HP continuous)

The E-Motion 180E electric outboard is the centerpiece, offering 134 kW of continuous power, which is the direct equivalent of 180 horsepower. This high-voltage system operates at 650V for reliable energy conversion. The performance metrics show real-world capability; for instance, when integrated into a Starcraft EX 22-foot pontoon, the system made the boat 50% faster than average pontoons, hitting a top speed of 36 mph. For another example, the Four Winns H2E, equipped with the E-Motion 180E Powertrain and twin battery pack, achieved a top speed of 35 knots.

The range figures support practical use, with estimates showing the 180E could power a compatible boat up to 70 nautical miles while cruising at 20 mph (32 kph).

Zero-emission, quiet, and low-maintenance boating experience

The value here is the elimination of traditional engine hassles. Vision Marine Technologies claims this translates to up to a 90% reduction in fuel and maintenance cost when you compare an electric boat to a conventional ICE-powered one. The experience is inherently quiet, odorless, and smokeless. The system is designed with fewer moving parts than combustion engines, which helps reduce the time and money spent on regular maintenance.

Vertically integrated sales, service, and after-sales support

Vision Marine Technologies Inc. solidified this aspect with the acquisition of Nautical Ventures in June 2025. This move immediately provided a substantial retail and service footprint. Nautical Ventures operates eight retail and service locations across Florida. This acquired network showed early commercial traction, generating US$12.8 million in revenue and US$4.7 million of gross profit, representing a healthy 36.8% gross margin, for the period between the acquisition date (June 20, 2025) and the fiscal year-end (August 31, 2025).

The integration is already showing financial benefits, with expected annual operational savings of approximately US$1.6 million from consolidating two North Palm Beach locations.

Turnkey electric propulsion solutions for OEM boat builders

Vision Marine Technologies Inc. offers an all-in-one system that boatbuilders can integrate, encompassing the lithium-ion battery packs, power electronics, and user interfaces. This is evidenced by the three-year exclusive supply agreement signed with MS Marine GmbH ("STERK") in February 2025, where Vision Marine exclusively integrates its E-Motion™ 180E electric propulsion system into certain STERK boats. This partnership also grants Vision Marine the exclusive global distribution rights for those electric-powered STERK vessels.

Access to a multi-brand portfolio of both electric and ICE boats

Through the Nautical Ventures acquisition, Vision Marine Technologies Inc. gained immediate access to a diversified product offering. The dealership group's product mix includes both electric and internal-combustion engine ("ICE") boats. This positions the company as a comprehensive provider in the marine market, not solely reliant on the adoption rate of pure electric platforms. Nautical Ventures is also noted as the world's top Axopar dealer.

Here's a quick look at the scale of the integrated retail operation as of late 2025:

Metric	Value
Nautical Ventures Retail Locations	8
Revenue (Jun 20-Aug 31, 2025)	US$12.8 million
Gross Profit Margin (Jun 20-Aug 31, 2025)	36.8%
Expected Annual Operational Savings	US$1.6 million

The company supports both OEM boat builders and aftermarket retrofit applications by focusing on ease of installation and interoperability.

Vision Marine Technologies Inc. (VMAR) - Canvas Business Model: Customer Relationships

You're looking at how Vision Marine Technologies Inc. (VMAR) connects with its customers, which has clearly shifted following the major acquisition in mid-2025. The relationship strategy now centers on vertical integration, moving from just a technology provider to a direct retail and service powerhouse in key markets.

Dedicated electric boating division for specialized sales and service

Vision Marine Technologies is now the first company in North America to vertically integrate its high-voltage electric marine propulsion technology with multi-brand boat retail and service operations, primarily through the Nautical Ventures network. This structure allows for specialized focus on the electric segment while leveraging existing infrastructure. The company's proprietary, patent-pending electric powertrain technology, the E-Motion™ 180™, is ready for widespread deployment, supported by strong domestic supply chain control.

Key enablers for this specialized focus include:

• E-Motion™ 180E platform is CORE-approved in California.
• Eligibility for up to $170,000 in per-unit government vouchers for the E-Motion™ 180E.
• High-voltage battery packs assembled in Nevada via Octillion Power Systems, ensuring U.S.-sourced content.

Direct, high-touch retail relationship through the Nautical Ventures network

The acquisition of Nautical Ventures Group Inc. on June 20, 2025, instantly provided Vision Marine Technologies with direct, high-touch retail access. Nautical Ventures, recognized as the 2024 Boating Industry Top 100 Dealer of the Year, is a leading dealership network in Florida. This move immediately accelerated consumer reach and electric product adoption in a critical marine region. The performance in the short period of fiscal year 2025 shows the immediate impact on customer interaction and sales velocity.

Here's a quick look at the initial retail performance metrics following the acquisition:

Metric	Value	Period
Nautical Ventures Revenue	US$12.8 million	June 20, 2025 - August 31, 2025
Nautical Ventures Gross Profit	US$4.7 million	June 20, 2025 - August 31, 2025
Nautical Ventures Gross Profit Percentage	36.8%	June 20, 2025 - August 31, 2025
Boat Sales Revenue (NV division)	US$8.2M	June 20, 2025 - August 8, 2025 (7 weeks)
Boat Sales Growth vs. FY2024 Total	504% increase	Compared to $1.4M in FY2024
Boats Sold (Post-Integration)	166 units	Within 120 days of integration

The retail footprint supports a broad portfolio of brands, deepening the relationship options for customers looking for both electric and traditional options. Nautical Ventures is the #1 global Axopar dealer and a leading U.S. distributor for Highfield tenders, among others.

• Key Brands Supported: Beneteau, Axopar, Highfield, Northstar, Wellcraft, Starcraft, EdgeWater, and Nimbus.

Close engineering collaboration and integration support with OEMs

Customer relationships extend deeply into the Original Equipment Manufacturer (OEM) space through engineering collaboration. Vision Marine Technologies has built strong strategic relationships with major OEMs, including white-labelling and licensing agreements. The modular platform and integration expertise are key selling points here. The company has demonstrated integration readiness across over 24+ boat models, which covered approximately 80% of the Nautical Ventures inventory at the time of acquisition. This readiness allows for rapid deployment of the E-Motion™ system into new OEM product lines, helping those partners transition to electric propulsion.

After-sales support and service for electric and ICE products

The Nautical Ventures acquisition provides the service infrastructure to support both the new electric products and the existing Internal Combustion Engine (ICE) segment sales. This dual capability ensures a comprehensive customer lifecycle experience. The company's FY2025 revenue, before the full impact of the acquisition was realized across the entire year, was reported at 13.83M CAD. The service network is designed to handle the maintenance and support needs arising from the sales across the combined entity, which is crucial for customer retention in the marine sector. The consolidation of two North Palm Beach locations is expected to generate approximately US$1.6 million in annual operational savings, which can be reinvested into service quality.

Finance: draft 13-week cash view by Friday.

Vision Marine Technologies Inc. (VMAR) - Canvas Business Model: Channels

You're looking at how Vision Marine Technologies Inc. (VMAR) gets its products-both the electric propulsion systems and the boats themselves-into the hands of customers as of late 2025. The strategy clearly pivoted with the June 2025 acquisition of Nautical Ventures Group Inc., transforming the company into an integrated electric propulsion and multi-brand retail powerhouse.

Nautical Ventures retail dealerships (primary sales channel post-acquisition).

The acquisition of Nautical Ventures, recognized as the 2024 Boating Industry Top 100 Dealer of the Year, immediately established a strong retail foundation in Florida, the U.S. recreational boating capital. This channel handles both electric and internal combustion engine (ICE) boats. Between the acquisition date of June 20, 2025, and the fiscal year-end of August 31, 2025, Nautical Ventures contributed US$12.8 million in revenue, realizing a gross profit of 36.8% (US$4.7 million). This short period saw a massive acceleration in sales volume compared to the prior full fiscal year.

Here's a look at the immediate sales impact following the integration:

Metric	Value	Period/Date
Gross Revenue from Boat Sales	US$12.8 million	June 20, 2025 - August 31, 2025
Total Boats Sold (Combined Network)	166 units	120 Days Post-Acquisition (to August 8, 2025)
Axopar Units Sold	40 units	120 Days Post-Acquisition
Tender Units Sold	44 units	120 Days Post-Acquisition
Floor-Plan Financing Reduction	40% reduction (from US$42 million to US$32.5 million)	June 20, 2025 - August 31, 2025
Expected Annual Operational Savings	US$1.6 million	Projected from consolidation

Nautical Ventures operates eight retail and service locations across Florida, including four dealerships, a marina, a yacht tender service, and a kayak rental. Furthermore, the network secured a Letter of Intent (LOI) for the exclusive distribution of Nimbus Boats on Florida's West Coast, covering their Tender, Commuter, Weekender, and Coupe series.

Direct sales to OEM boat manufacturers for powertrain integration.

Vision Marine Technologies Inc. continues to push its E-Motion™ 180E electric outboard system directly to other boat builders for integration. The company reports having over 24 OEM-integrated boat platforms utilizing their technology. This channel is crucial for scaling the adoption of their zero-emission technology beyond their own retail footprint. A key example is the three-year exclusive supply agreement with MS Marine GmbH ('STERK'), where Vision Marine is the sole provider of electric propulsion systems for certain STERK boats.

The supply chain for this channel is being localized; the partnership with Octillion Power Systems in Nevada ensures the production of Vision-branded 45.36 kWh high-voltage battery packs exclusively for the American market, supporting these OEM integrations.

Regional and international dealer network for electric outboards.

Beyond the direct OEM route, Vision Marine Technologies Inc. leverages distribution agreements to expand its electric outboard reach internationally. The STERK agreement grants Vision Marine the exclusive global distribution rights for electric-powered STERK vessels equipped with the E-Motion™ 180E system, solidifying a foothold in Europe while allowing introduction to the North American market.

The company's channel strategy is clearly bifurcated:

• Direct sales of the E-Motion™ 180E system to established boatbuilders for integration.
• Exclusive global distribution rights for fully electric vessels built around their propulsion system, like the STERK partnership.

High-volume hub for tender boat sales and service in Fort Lauderdale.

The tender segment, primarily through the Highfield Boats distribution, is a significant revenue driver integrated via Nautical Ventures. Historically, Highfield Boats sold more than 600 tenders across the Nautical Ventures network between 2022 and 2024, generating over $14 million in revenue. In 2023 alone, this translated to over 200 units sold, representing more than $4 million in sales. The establishment of a dedicated Fort Lauderdale facility now serves as a high-volume hub specifically for tender sales and service operations, capitalizing on this proven segment.

Finance: draft 13-week cash view by Friday.

Vision Marine Technologies Inc. (VMAR) - Canvas Business Model: Customer Segments

You're looking at the customer base for Vision Marine Technologies Inc. (VMAR) as of late 2025, which has clearly diversified beyond just selling their E-Motion™ propulsion systems.

OEM boat builders seeking high-voltage electric powertrain systems.

Vision Marine Technologies Inc. (VMAR) targets established manufacturers needing a fully industrialized, high-voltage electric outboard system. This segment is crucial for scaling the E-Motion™ 180E platform.

• Secured a three-year exclusive supply agreement with MS Marine GmbH (STERK) for integrating the E-Motion™ 180E system.
• Expanded partnership with Octillion Power Systems to produce proprietary 45.36 kWh high-voltage battery packs in Nevada, specifically for the American market and OEM integrations.
• The E-Motion™ Electric Powertrain System received approval for inclusion in California's Clean Off-Road Equipment ("CORE") Voucher Incentive Project as of June 18, 2025.

Recreational boaters and consumers in high-traffic marine regions (e.g., Florida).

The June 2025 acquisition of Nautical Ventures fundamentally shifted Vision Marine Technologies Inc. (VMAR) into a direct retail player, heavily focused on the lucrative Florida market. Florida alone generated $6.4 billion in new powerboat, engine, and accessory sales in 2023.

The performance of the newly integrated retail arm is immediate. Between June 20, 2025, and August 31, 2025, Nautical Ventures generated US$12.8 million in revenue and US$4.7 million of gross profit, representing a gross profit percentage of 36.8%. For a shorter period, from June 20, 2025, to August 8, 2025, this division brought in approximately US$8.2M in gross revenue from boat sales, which contrasts sharply with Vision Marine Technologies Inc. (VMAR)'s total boat sales of $1.4M for the entire fiscal year ended August 31, 2024. The forecast annual revenue for Vision Marine Technologies Inc. (VMAR) for the fiscal year ended August 31, 2025, is $9,810,323.

Performance and luxury boat owners (e.g., Sterk 31e buyers).

This segment is targeted through premium OEM collaborations, such as the one with STERK, which positions the integrated electric boats as high-performance offerings. Vision Marine Technologies Inc. (VMAR) gains exclusive global distribution rights for electric-powered STERK vessels equipped with their propulsion.

Commercial and recreational operators requiring tender boats.

Vision Marine Technologies Inc. (VMAR) is actively pursuing the tender boat market by leveraging the existing distribution strength of Nautical Ventures. This involves selling brands like Highfield Boats through a new, dedicated facility in Fort Lauderdale.

Here's a quick look at the scale of the tender segment they are tapping into via Highfield Boats:

Metric	Value	Timeframe/Context
Highfield Tenders Sold	Over 600	2022 to 2024
Related Revenue from Highfield Tenders	Over $14 million	2022 to 2024
Nautical Ventures Revenue (Post-Acquisition)	US$12.8 million	June 20, 2025, to August 31, 2025
Nautical Ventures Gross Profit	US$4.7 million	June 20, 2025, to August 31, 2025

The new dedicated Fort Lauderdale facility is set up as a high-volume hub for tender sales and service operations. Nautical Ventures also distributes other brands including Beneteau, Axopar, Northstar, Wellcraft, Starcraft, EdgeWater, and Nimbus.

Finance: draft 13-week cash view by Friday.

Vision Marine Technologies Inc. (VMAR) - Canvas Business Model: Cost Structure

You're looking at the major costs Vision Marine Technologies Inc. (VMAR) is dealing with as they scale up, especially after bringing Nautical Ventures into the fold. Understanding this cost structure is key to seeing where the cash is going to support their electric propulsion development and retail expansion.

The cost of manufacturing the boats and the E-Motion™ electric powertrains is captured in the Cost of Goods Sold, which the company reports as 1.18 million CAD for the fiscal year ended August 31, 2025. This number reflects the direct costs tied to the products sold during that period.

A significant financial commitment relates to inventory financing. You should note the floor-plan financing balance, which stood at US$32.5 million at the fiscal year end of August 31, 2025. That's a big number, though it shows progress, as it was down from US$42 million just a couple of months prior, on June 20, 2025. That financing carries an interest expense, which is a major ongoing cost.

Developing and maintaining that proprietary electric propulsion system requires consistent investment. For the fiscal year ending August 31, 2025, Vision Marine Technologies Inc. reported Research and Development (R&D) expenses totaling 2.57 million CAD. This spending is focused on keeping their technology ahead of the curve and maintaining their patent portfolio.

The retail network, now anchored by Nautical Ventures, drives substantial operating costs. The Selling, General, and Administrative (SG&A) costs for the fiscal year ending August 31, 2025, were 11.07 million CAD. This covers everything from sales commissions to the overhead of running those high-traffic Florida dealerships.

On the efficiency front, there's a positive cost-reduction measure in place. The consolidation of two North Palm Beach locations is expected to generate approximately US$1.6 million in annual operational savings. That's real money coming back to the bottom line, assuming they realize those efficiencies throughout the next full year.

Here's a quick look at those key cost components for the fiscal year ended August 31, 2025, keeping in mind the currency differences:

Cost Component	Amount Reported (FYE 2025)	Currency
Cost of Goods Sold (Cost of Revenue)	1.18	CAD (Millions)
SG&A Costs	11.07	CAD (Millions)
R&D Expenses	2.57	CAD (Millions)
Floor-Plan Financing Balance (as of FYE)	32.5	US$ (Millions)

To be fair, the cost structure is heavily influenced by the integration of the retail business, which brings in those large SG&A figures and the associated floor-plan debt. You can see the breakdown of the main operating expenses below:

• Cost of Revenue: 1.18 million CAD
• Selling, General & Admin: 11.07 million CAD
• Research & Development: 2.57 million CAD
• Total Operating Expenses (Sum of above plus others): 14.29 million CAD

Finance: draft 13-week cash view by Friday, focusing on interest payments against the US$32.5 million floor-plan balance.

Vision Marine Technologies Inc. (VMAR) - Canvas Business Model: Revenue Streams

You're looking at the top-line drivers for Vision Marine Technologies Inc. following the major integration of Nautical Ventures. The revenue structure for the fiscal year ended August 31, 2025, is heavily weighted toward retail operations, but the technology component is starting to show up in the books.

The Total revenue for the fiscal year ended August 31, 2025, was approximately $13.8 million. This figure reflects a period that included less than five months of consolidated operations from the Nautical Ventures acquisition, which closed on June 20, 2025.

Here's a breakdown of the primary revenue streams contributing to that total:

Revenue Stream Component	Reported Amount/Percentage (FY2025)
Retail boat sales (ICE and electric) via Nautical Ventures	US$12.8 million (representing approximately 93% of FY2025 total)
Sales of E-Motion™ 180E electric outboard and inboard systems (Powertrain Sales)	Approximately $57 thousand

The retail boat sales component is the immediate powerhouse, driven by the dealership network. The bulk of the US$12.8 million came from selling boats manufactured by third parties, such as Axopar, which accounted for about 89% of Nautical Ventures' revenue in the year ended December 31, 2024, and 90% in the three months ended March 31, 2025.

The technology side, representing the core intellectual property of Vision Marine Technologies Inc., is just beginning to register as a distinct revenue line item. You see the initial contribution from the proprietary electric propulsion:

• Sales of E-Motion™ 180E electric outboard and inboard systems.
• This is captured in the reported powertrain revenue of approximately $57 thousand for the 2025 fiscal year.

The business model also anticipates revenue from other areas, though specific figures for the period ending August 31, 2025, weren't detailed separately from the Nautical Ventures consolidation:

• Service, maintenance, and after-sales support revenue.

To be fair, the Nautical Ventures acquisition itself opened up avenues for growth across retail, services, and electric product integration, suggesting service revenue is a key area for fiscal 2026 development.

Finance: draft 13-week cash view by Friday.