Nautical Ventures Group (NVG) has achieved near EBITDA breakeven, less than a year after the company was acquired by Vision Marine Technologies.
Vision Marine’s overall net loss also improved by nearly 57% to $1,864,924 for the second quarter of the company’s fiscal year.
The EBITDA loss was $2,140,022, an imrovement of 9% compared to $2,350,718 in Q1.
The company had a gross profit of $4,397,468 with a 30% margin, up from 27% with revenue of $14,531,484.
Since the acquisition of NVG, Vision Marine has reduced the company’s inventory by more than $10.6 million, from $35.1 million to $24.5 million and reduced floor plan financing by $23.8 million from $42 million to $18.2 million.
Inventory and leverage reduction
Real estate footprint has been decreased from six to four properties, with two additional properties targeted for sale over the remainder of the current fiscal year.
The EBITDA loss has reduced from $235,477 in Q1 2026 to $2,760 in Q2 2026, with $3.8 million cash generated from the real estate monetisation initiatives and additional cost savings expected from the footprint rationalisation.
A continued focus will be placed on transitioning NVG to sustained EBITDA-positive operations while continuing inventory and leverage reduction.
Higher-margin sales
In addition, there will be a focus on executing additional real estate monetisation initiatives and expanding higher-margin sales and service offerings.
“The transformation of NVG has been both rapid and measurable,” said Alexandre Mongeon, chief executive officer.
“In less than a year, we have significantly reduced inventory, deleveraged the balance sheet and brought the segment to near EBITDA breakeven.
“This validates our operating model and positions us for continued performance improvement.”
