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Vision Marine Technologies Inc. (VMAR)

NasdaqGS - NasdaqGS Real-time price. Currency in USD
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9.10-0.18 (-1.94%)
At close: 4:00PM EST
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Trade prices are not sourced from all markets
Previous close9.28
Open9.62
Bid9.09 x 800
Ask9.12 x 800
Day's range9.00 - 9.66
52-week range8.31 - 17.90
Volume126,266
Avg. volume399,163
Market cap72.894M
Beta (5Y monthly)N/A
PE ratio (TTM)N/A
EPS (TTM)N/A
Earnings dateN/A
Forward dividend & yieldN/A (N/A)
Ex-dividend dateN/A
1y target est19.98
  • Vision Marine Provides Update on E-Motion Powertrain Initiatives And Other Corporate Developments
    GlobeNewswire

    Vision Marine Provides Update on E-Motion Powertrain Initiatives And Other Corporate Developments

    Headway on Key Growth Efforts Reaffirms Vision’s Technology Edge and Strengthens Growth ProspectsMONTREAL, Feb. 26, 2021 (GLOBE NEWSWIRE) -- Vision Marine Technologies, Inc. (Nasdaq: VMAR) (“Vision” or the “Company”), a leader in transforming the global boating market by designing and manufacturing environmentally friendly electric boats and propulsion systems, provided an update on its new marketing initiatives and corporate developments since the Company’s initial public offering in November of 2020. “Since our IPO just three months ago, the Company has made tremendous strides in growing our existing business and furthering our reputation as a disruptive world class nautical technology company,” said Alex Mongeon, Co-Founder and Chief Executive Officer of Vision. Mongeon continued, “We believe the market for our E-Motion powertrain systems continues to expand. The National Marine Manufacturers Association (NMMA) recently reported that U.S. boat sales reached a 13-year high in 2020 while outboard engine sales reached the highest level in 20 years, and that it expects these strong sales to continue in 2021. Vision’s technology positions us well to take advantage of what we believe is a continuing sea change increase in consumer demand, as well as the growing desire by consumers, regulators and municipalities to reduce the environmental impact associated with traditional internal combustion engines. With our recent strategic acquisition of MAC Engineering, Vision has acquired cutting edge next-gen technology and design teams which will expand our market leadership and competitive advantage for years to come.” Highlights of Recent Corporate Developments Accelerated marketing efforts with OEMs for sales of E-Motion powertrain systems, building on the more than 1,000 units for which the Company has received Letters of Intent (LOIs). Vision expects to begin converting these LOIs to sales in the coming quarters.Acquired MAC Engineering’s intellectual property relating to marine outboard electronic systems. MAC is a pioneering designer of innovative electric propulsion systems for automotive, industrial, military and nautical applications. MAC’s CEO Xavier Montagne, a visionary designer and the “brains” behind numerous electric vehicle powertrains and battery management systems, has joined Vision as Chief Technology Officer.More than doubled the number of boats on order during the last six months, as compared with the same year ago period, significantly expanding its market share lead in electric boats;Partnered with Tourism Quebec and Transport Canada to provide up to 30 electric boats for rental and water taxi operations along a 30 km section of waterways near the city of Montreal.Signed a purchase order with Boat Fix, Inc. enabling Vision to outfit its electric powerboat fleet with Boat Fix’s customized telematics devices as well as a monitoring software application and customer support services.Planned exhibitions and demonstrations at world-renowned trade shows, including the Vancouver Boat Show (February 24-27), the Carefree Boat Club Conference (March 8-10), the Venice Boat Show and e-Regatta (May 29-June 5) and more.Scheduled to present at multiple upcoming investor conferences, including Maxim Emerging Growth Conference (March 17-18), Planet MicroCap. Showcase (April 21-22) and others. Mongeon added, “Our cash position, coupled with our debt free capital structure, technological expertise and first mover speed-to-market, have positioned us well to expedite E-Motion electric boat powertrain sales while continuing to make progress on high-value R&D initiatives. Our growing boat sales business both fuels further growth and serves as a highly effective showcase for our proprietary powertrain systems. We look forward to providing additional updates with more details on our progress as we are able to.” About Vision Marine TechnologiesVision Marine Technologies, Inc., an ESG principled company, strives to change and be a contributing factor in fighting the problem of waterway pollution by disrupting the boating industry with electric power, contributing to zero pollution, zero emission, wave less water, and a noiseless environment. Our flagship outboard powertrain (E-Motion) is the first fully electric outboard powertrain system that combines an advanced battery pack, inverter, and high efficiency motor with proprietary union assembly between the transmission and the electric motor design and extensive control software. Our E-Motion technologies used in this powertrain system are designed to improve the efficiency of the outboard powertrain and, as a result, increase range and performance. Vision continues to design, innovate, manufacture, and sell our handcrafted, high performance, environmentally friendly, electric recreational powerboats to recreational customers. The design and technology applied to our boats results in far greater and enhanced performance, higher speeds, and longer range. Simply stated, a smoother ride than a traditional ICE motorboat. Forward-Looking StatementsThe statements contained in this press release that are not historical facts are forward-looking statements. The forward-looking statements are subject to various risks, uncertainties, assumptions, or changes in circumstances that are different to predict or quantify. Actual results may differ materially from these expectations due to changes in global, regional, or local economic, business, competitive, market, regulatory and other factors, many of which are beyond Vision’s control. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in Vision’s filings with the SEC, including its registration statement on Form F-1, as amended from time to time, under the caption “Risk Factors.” Any forward-looking statement in this press release speaks only as of the date of this release. Vision undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws. https://visionmarinetechnologies.com Company Contact:Bruce Nurse(800) 871-4274bn@v-mti.com Investor Relations Contact:Gateway Investor RelationsSean McGowan and Tom Colton(949) 574-3860VMAR@gatewayir.com

  • Vision Marine Acquires Complimentary Intellectual Property Assets from MAC Engineering, a Ground-Breaking Designer of Electric Vehicle Propulsion and Battery Management Systems
    GlobeNewswire

    Vision Marine Acquires Complimentary Intellectual Property Assets from MAC Engineering, a Ground-Breaking Designer of Electric Vehicle Propulsion and Battery Management Systems

    Acquisition significantly strengthens Vision’s leadership in electric boat powertrainsMONTREAL, Feb. 23, 2021 (GLOBE NEWSWIRE) -- Vision Marine Technologies, Inc. (Nasdaq: VMAR) (“Vision Marine” or the “Company”), a leader in transforming the boating market by designing and manufacturing environmentally friendly electric boats and propulsion systems, is pleased to announce today that it has acquired MAC Engineering's intellectual property relating to marine outboard electronic systems. MAC Engineering, the European distributor of the UQM brand, and one of the global leaders in medium and high-power electric motors in the USA, is the highly regarded designer of propulsion and battery management systems and components for electric vehicles. Under the terms of the transaction, Vision Marine has acquired all of MAC’s electric technological components, know-how and software relating to the manufacture, production, use, sale, rental and distribution of marine outboard electronic systems. Vision Marine is also pleased to announce that Xavier Montagne, Chief Executive Officer of MAC Engineering, will be joining Vision Marine as its Chief Technology Officer. In his role as CTO, Montagne will oversee all design and operations of Vision Marine’s revolutionary E-Motion powertrain, the first fully electric 180 hp integrated outboard system. In his role as CEO and Senior Engineer at MAC Engineering, Mr. Montagne was responsible for electronic architecture design, product selection, integration, fine tuning, optimization, and overall performance. Prior to MAC Engineering, Mr. Montagne was senior designer for Foresee Power, Panasonic, and Saft in Europe, designing low and high voltage battery management systems. Mr. Montagne was involved in the development of the sports version of the Renault ZOE, using his expertise to help design the powertrain definition, conception, and assembly. This technology, used in the automotive sports and concept car market, will soon be implemented into Vision Marine’s own electric propulsion system. This car has been used to open Formula E shows and was driven by the legendary French race car driver Alain Prost. Xavier Montagne commented, “I am very excited to be joining the Vision Marine team and to be able to continue working with such an interesting and forward-looking company. We share a passion for delivering superior performance in electric boats, and I look forward to further solidifying Vision’s leadership in this arena by rolling out our disruptive powertrain to OEMs.” “The acquisition of MAC Engineering’s marine propulsion intellectual property significantly adds to Vision Marine’s already formidable in-house capabilities to deliver what we believe to be the best performing and most efficient powertrain systems for electric boats, across our proprietary platform.” said Alex Mongeon, Co-Founder and Chief Executive Officer of Vision Marine. Mongeon continued, “Xavier is a leader in electric propulsion development and has worked on many of the leading electric propulsion projects around the world. I am excited to add his expertise to our team so that we can continue to innovate and to be at the cutting edge of the marine propulsion technology industry.” About Vision Marine Technologies, Inc. Vision Marine Technologies, Inc., is an ESG principled company, committed to fighting the problem of waterway pollution by disrupting the boating industry through the introduction of the first fully electric 180hp integrated outboard powertrain system (“E-Motion”). E-Motion combines an advanced battery pack, inverter, and high efficiency motor with proprietary union assembly between the transmission and the electric motor design and extensive control software. Our technologies used in this E-Motion powertrain system are designed to improve the efficiency of the outboard powertrain and, as a result, increase range and performance. Vision also continues to design, innovate, manufacture, and sell a broad variety of handcrafted, environmentally friendly, electric powerboats to the recreational consumer. The design and technology applied to our boats results in far greater and enhanced performance, higher speeds, and longer range. Together, Vision’s electric powerboats and flagship E-motion propulsion system result in zero pollution, zero emission and a noiseless environment. Simply stated, a smoother and cleaner ride than traditional gasoline or diesel motorboats. For more information on the Company, please visit: https://visionmarinetechnologies.com About Mac Engineering Headquartered in Paris, France, MAC Engineering is a design office specializing in embedded systems, with more than 10 years of expertise in automotive, industrial, military and nautical applications. For two years, Mac has been the European distributors and integrators of UQM electric motors as well as numerous reducers, gearboxes, transfer boxes and bridges which allow the company to take charge of the design and complete production of electric propulsion chains. For more information, please visit the company’s website: www.mac-engineering.fr. Forward-Looking StatementsThe statements contained in this press release that are not historical facts are forward-looking statements. The forward-looking statements are subject to various risks, uncertainties, assumptions, or changes in circumstances that are different to predict or quantify. Actual results may differ materially from these expectations due to changes in global, regional, or local economic, business, competitive, market, regulatory and other factors, many of which are beyond Vision’s control. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth under the caption “Risk Factors” in Vision’s Annual Report on Form 20-F, filed with the SEC on December 31, 2020, as such factors may be updated from time to time in Vision’s periodic filings with the SEC. Any forward-looking statement in this press release speaks only as of the date of this release. Vision undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws. Company Contact:Bruce Nurse(800) 871-4274bn@v-mti.com Investor Relations Contact:Gateway Investor RelationsSean McGowan and Tom Colton(949) 574-3860VMAR@gatewayir.com

  • GlobeNewswire

    Vision Marine Signs Purchase Order with Boat Fix to Furnish Its Electric Powerboats and E-Motion Motors with Customized Telematics Devices and Monitoring Software

    MONTREAL, CANADA, Jan. 28, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire – Vision Marine Technologies, Inc. (Nasdaq: VMAR) (“Vision” or the “Company”) a leader in transforming the boating market by designing and manufacturing environmentally friendly electric boats and propulsion systems, is pleased to announce that it has signed a purchase order with Boat Fix, Inc. (“Boat Fix”), a leading boat maintenance and tracking services provider, to outfit its electric powerboat fleet with Boat Fix’s customized telematics devices as well as a monitoring software application and customer support and services. Based in Fairfield, CT, Boat Fix provides technology tools that empower any boat user to remotely access information about their boats, including 24/7 monitoring of essential functions, alarm response and mechanical support. The purchase order is the first step in a strategic alliance where Boat Fix will supply Vision with the devices and software for all boats produced by Vision as well as for its OEM customers purchasing Vision’s E-Motion propulsion system. “In the realm of electric boat manufacturers, few companies offer the quality and performance of a Vision electric vessel,” said Alastair Crawford, Founder, Boat Fix. “One of the unique challenges of electric propulsion is that the charge remaining in the battery is dependent on speed and therefore, unlike a fuel gauge, it is hard to know how much range you have left. In addition to providing our standard vessel monitoring, we have created a solution that will make sure users have the runtime to get where they are going so, they can enjoy the quiet and serenity of an electric boat.” Alex Mongeon, Co-Founder and Chief Executive Officer of Vision, stated, “Our purchase order with Boat Fix is just another step in the process of making our boats and propulsion systems the safest and best choice for customers. With the Boat Fix system installed on our products, boaters can enjoy a greater level of security and confidence in the water. For our OEM customers, we believe the increased control and oversight into their data will allow them to better manage their time and resources.” About Boat Fix, Inc. Founded nearly 30 years ago, Boat Fix, Inc. is headquartered in Connecticut, and operates in the US and the UK. The membership and monitoring services include 24/7 customer support, and continuous monitoring of essential boat functions, alarm response, GPS tracking and access to mechanical support. The services can be tracked and activated via a user-friendly app. To learn more, please visit BF’s website: http://www.boatfix.biz/. About Vision Marine Technologies, Inc. Vision Marine Technologies, Inc., is committed to fighting the problem of waterway pollution by disrupting the boating industry through the introduction of the first fully electric 180hp integrated outboard powertrain system (“E-Motion”). E-Motion combines an advanced battery pack, inverter, and high efficiency motor with proprietary union assembly between the transmission and the electric motor design and extensive control software. Our technologies used in this E-Motion powertrain system are designed to improve the efficiency of the outboard powertrain and, as a result, increase range and performance. Vision also continues to design, innovate, manufacture, and sell a broad variety of handcrafted, environmentally friendly, electric powerboats to the recreational consumer. The design and technology applied to our boats results in far greater and enhanced performance, higher speeds, and longer range. Together, Vision’s electric powerboats and flagship E-motion propulsion system result in zero pollution, zero emission and a noiseless environment. Simply stated, a smoother and cleaner ride than traditional gasoline or diesel motorboats. For more information on the Company, please visit: https://visionmarinetechnologies.com Forward-Looking Statements The statements contained in this press release that are not historical facts are forward-looking statements. The forward-looking statements are subject to various risks, uncertainties, assumptions, or changes in circumstances that are different to predict or quantify. Actual results may differ materially from these expectations due to changes in global, regional, or local economic, business, competitive, market, regulatory and other factors, many of which are beyond Vision’s control. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in Vision’s filings with the SEC, including the Annual Report on the 20-F, as amended from time to time, under the caption “Risk Factors.” Any forward-looking statement in this press release speaks only as of the date of this release. Vision undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws. https://visionmarinetechnologies.com Company Contact:Bruce Nurse(800) 871-4274bn@v-mti.com Investor Relations Contact:Gateway Investor RelationsSean McGowan and Tom Colton(949) 574-3860VMAR@gatewayir.com