Vision Marine launches stock repurchase program

MONTRÉAL - Vision Marine Technologies Inc. (NASDAQ:VMAR), a leader in electric marine propulsion, has announced the approval of a stock repurchase program. The Board of Directors has authorized the buyback of up to 5% of the company’s issued and outstanding common shares. The announcement comes as the stock trades at $0.98, having declined nearly 99% over the past year according to InvestingPro data.

The initiative comes as the company acknowledges the current market challenges for microcap stocks. Alexandre Mongeon, Co-Founder and CEO of Vision Marine, expressed that the stock price does not reflect the true value and future potential of the company. This view aligns with InvestingPro analysis, which suggests the stock is currently undervalued, though investors should note the company’s weak overall financial health score. The repurchase program aims to reinforce shareholder value and the company’s commitment to leading the marine industry with its electric powertrain solutions.

Under the program, Vision Marine may repurchase shares through a 10b-18 trading plan at its discretion. The specifics of the repurchases, including timing and quantity, will be determined by the plan. As of February 20, 2025, Vision Marine reported having 9,813,429 common shares outstanding and a cash balance of roughly US$10.6 million. InvestingPro data shows the company maintains more cash than debt on its balance sheet, with a healthy current ratio of 2.88x, though it’s worth noting the company is quickly burning through its cash reserves.

Vision Marine Technologies is at the forefront of transforming the marine industry with its proprietary E-Motion™ electric powertrain system. The company’s mission is to revolutionize recreational boating by offering sustainable, emission-free experiences on the water. Despite current challenges, analysts anticipate significant sales growth this year, with revenue projected to more than double according to InvestingPro forecasts.

The press release also contains forward-looking statements that are subject to risks and uncertainties, which might affect the company’s ability to carry out the stock repurchase program as planned. These statements are based on management’s current expectations and assumptions.

This news is based on a press release statement and reflects the company’s strategic movements in the stock market. Vision Marine’s filings with the Securities and Exchange Commission (SEC), including its Annual Report on Form 20-F for the year ended August 31, 2024, provide further details on the company’s plans and financial status.

In other recent news, Vision Marine Technologies Inc. has reported several significant developments. The company has secured approximately $5.8 million through a private placement of securities, with the proceeds earmarked for working capital and general corporate purposes. This funding round is part of Vision Marine’s strategy to continue its innovations in the electric boating sector. Additionally, Vision Marine has filed a patent application for a new Battery Authentication Encryption Technology, aimed at enhancing the security and data analysis capabilities of its E-Motion™ Electric Powertrain system. This technology is designed to prevent unauthorized component substitutions and improve product performance.

Vision Marine has also announced a partnership with Massimo Group to produce a 30-foot electric pontoon platform, integrating its E-Motion™ 180E Powertrain System. This collaboration is intended to meet the growing demand for environmentally friendly watercraft in the U.S. pontoon boat market. Furthermore, Vision Marine has appointed finance expert Pierre-Yves Terrisse to its Board of Directors, aiming to bolster its financial strategy and market expansion efforts. These recent developments highlight Vision Marine’s ongoing commitment to advancing electric propulsion technology and expanding its market presence.

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