Vision Marine Technologies reports 166 boats sold in 120 days

Vision Marine Technologies (VMAR) reported progress in strengthening its financial position and operational efficiency following the integration of its Florida-based retail and service network, Nautical Ventures. During the 120-day period since the acquisition on June 20, Vision Marine Technologies & Nautical ventures sold 166 boats across all major product categories. Operationally, Nautical Ventures achieved a reduction of its inventory across all major categories while maintaining stable throughput. The company’s renewed focus on its most profitable product segment-adventure boats under 45 feet. The company reports a reduction of more than 40% in floor-plan financing exposure and an inventory decrease exceeding 25%. The sale of two Nautical Ventures properties in North Palm Beach, Florida generated approximately $3.9M in net proceeds for Vision Marine. These proceeds are being reinvested directly into Nautical Ventures’ operations and used to reduce floor-plan financing, supporting continued growth, enhancing dealership performance, and strengthening customer experience. The consolidation is also expected to deliver an estimated $0.8M reduction in annual operating expenses. Combined with the property sale, Vision Marine anticipates aggregate annual savings of approximately $1.6M from these operational moves.