Vision Marine Technologies Inc. (VMAR) Revenue History
Annual and quarterly revenue from 2018 to present
VMAR Revenue Over Time (2018–2025)
VMAR Revenue Growth History
4 of 7 years with positive growth- FY2018 revenue growth
- N/A
- FY2019 revenue growth
- +122.7%
- FY2020 revenue growth
- -18.2%
- FY2021 revenue growth
- +47.6%
- FY2022 revenue growth
- +118.1%
- FY2023 revenue growth
- -25.1%
- FY2024 revenue growth
- -33.8%
- FY2025 revenue growth
- +267.6%
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $14.5M | +13576.7% |
| Q1 2026 | $15.7M | +10875.8% |
| Q4 2025 | $13.3M | +1224.7% |
| Q3 2025 | $279K | -56.3% |
| Q2 2025 | $106K | -85.6% |
| Q1 2025 | $143K | -85.4% |
| Q4 2024 | $1.0M | -53.4% |
| Q3 2024 | $637K | +36.6% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2023)
VMAR's revenue distribution by segment and geography for fiscal year 2023
By Product/Segment
VMAR Revenue Analysis (2018–2025)
Current Revenue & Growth
As of June 22, 2026, Vision Marine Technologies Inc. (VMAR) generated trailing twelve-month (TTM) revenue of $43.8 million, reflecting explosive growth of +13576.7% year-over-year. The most recent quarter (Q2 2026) recorded $14.5 million in revenue, down 7.4% sequentially.
Historical Growth Trajectory
VMAR's 5-year compound annual growth rate (CAGR) stands at +42.5%, indicating outstanding long-term growth trajectory. The 3-year CAGR of +22.2% is below the 5-year average, signalling a growth deceleration in recent years. Vision Marine Technologies Inc.'s highest annual revenue of $13.8 million was recorded in 2025, an all-time high.
Revenue by Segment
VMAR's revenue is primarily driven by Boat rental and boat club membership revenue (100%). With over half of revenue concentrated in Boat rental and boat club membership revenue, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Consumer Cyclical sector peers — including MPAA (+4.3% YoY), MBUU (+8.8% YoY), and HZO (-7.4% YoY) — VMAR has outperformed the peer group in revenue growth. Compare VMAR vs MPAA →
VMAR Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| VMARCurrent | $44M | +13576.7% | +42.5% | -74.6% | |
 MPAA | $790M | +4.3% | +7.9% | 8.3% | |
 MBUU | $808M | +8.8% | +4.3% | 2.7% | |
 HZO | $2.3B | -7.4% | +8.9% | 4.5% | |
 BC | $5.4B | +8.3% | +4.3% | -0.7% | |
 MCFT | $284M | +9.8% | -4.8% | 4.0% |
VMAR Historical Revenue Data (2018–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $13.8M | +267.6% | $296K | 2.1% | $-10,313,590 | -74.6% |
| 2024 | $3.8M | -33.8% | $-2,843,937 | -75.6% | $-16,406,456 | -436.0% |
| 2023 | $5.7M | -25.1% | $953K | 16.8% | $-20,357,876 | -358.2% |
| 2022 | $7.6M | +118.1% | $3.1M | 41.0% | $-13,184,683 | -173.8% |
| 2021 | $3.5M | +47.6% | $1.4M | 40.4% | $-12,705,012 | -365.2% |
| 2020 | $2.4M | -18.2% | $562K | 23.8% | $-2,101,255 | -89.2% |
| 2019 | $2.9M | +122.7% | $914K | 31.7% | $335K | 11.6% |
| 2018 | $1.3M | - | $403K | 31.2% | $-6,224 | -0.5% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
8+ years return with dividends reinvested.
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Peer Comparison
Compare growth, multiples, and margins vs sector.
VMAR — Frequently Asked Questions
Quick answers to the most common questions about buying VMAR stock.
Is VMAR's revenue growth accelerating or slowing?
VMAR revenue growth is accelerating. TTM revenue reached $44M, up +13576.7% year-over-year — ahead of the 5-year CAGR of +42.5%. This indicates the business is expanding faster than its historical baseline.
What is VMAR's revenue history from 2018 to 2026?
Vision Marine Technologies Inc. (VMAR) revenue history spans 2018 to 2026. TTM revenue as of 2026 is $44M, growing at +13576.7% YoY. The 5-year CAGR is +42.5%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is VMAR's long-term revenue growth rate (CAGR)?
Vision Marine Technologies Inc.'s 5-year revenue CAGR of +42.5% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +13576.7% is above this long-term average. CAGR is the most reliable measure of sustained revenue momentum for VMAR.
Why does VMAR's quarterly revenue fluctuate?
VMAR quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Vision Marine Technologies Inc.'s revenue data from 2018 to 2026 shows full historical quarterly detail on this page.
How is VMAR's revenue distributed by segment?
VMAR reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does VMAR's revenue compare to industry peers?
Vision Marine Technologies Inc. (VMAR) with TTM revenue of $44M and +13576.7% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.