Vision Marine Cuts NVG EBITDA Loss 99% After $23.8M Deleveraging and $10.6M Inventory Reduction
Vision Marine's NVG segment cut inventory from $35.1M to $24.5M and floor plan financing by $23.8M since its June 2025 acquisition, reducing EBITDA loss 99% to $2,760 in Q2 2026. Q2 revenue was $14.53M with 30% gross margin, net loss narrowed 57%, and real estate monetization generated $3.8M.
1. NVG Operational Transformation
Since acquiring Nautical Ventures Group on June 20, 2025, Vision Marine reduced NVG inventory from $35.1M to $24.5M and cut floor plan financing from $42.0M to $18.2M. These actions drove a 99% reduction in NVG EBITDA loss from $235,477 in Q1 to $2,760 in Q2 2026 while optimizing its real estate footprint from six to four properties and generating $3.8M in cash through asset monetization.
2. Q2 Financial Performance
In the quarter ended February 28, 2026, Vision Marine achieved revenue of $14.53M and a 30% gross margin, up from 27%. The company's net loss improved by 56.8% to $1.86M and overall EBITDA loss narrowed by 9% to $2.14M, reflecting stronger operating leverage and a higher-margin product mix.
3. Balance Sheet Strength and Outlook
As of February 28, 2026, Vision Marine held $4.1M in cash and a $10.0M working capital surplus, bolstered by $9.3M in equity financing and $3.8M from real estate sales. Management plans to monetize two additional properties, continue inventory and leverage reduction, and drive NVG to sustained EBITDA-positive operations through expanded higher-margin offerings.