Vision Marine Technologies Inc. (VMAR) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Cash from Operations | -1.49M | 1.85M | 1.89M | -5.37M | -5.82M | -5.71M | -506.41K | -1.18M | -5.85M | -4.1M | -2.63M | -4.16M | -3.26M | -3.95M | -1.48M | -1.56M | -4.45M | -3.51M | -370.62K | -3.35M |
| Operating CF Margin % | -10.23% | 11.81% | 14.24% | -1927.45% | -5475.87% | -3994.87% | -50.44% | -184.84% | -795.84% | -419.69% | -122.17% | -892.11% | -389.07% | -282.16% | -43.12% | -78.15% | -589.43% | -285.22% | -16.11% | -446.17% |
| Operating CF Growth % | 74.45% | 132.44% | 473.86% | -355.75% | 0.59% | -39.14% | 80.76% | 71.7% | -79.43% | -3.9% | -77.5% | -166.69% | 26.64% | -12.67% | -300.11% | 53.37% | -77.24% | -73.21% | -194.22% | - |
| Net Income | -1.86M | -4.31M | -9.31M | -9.8M | -3.61M | -1.59M | -3.65M | -3.03M | -8.41M | 1.03M | -4.29M | -3.1M | -6.7M | -6.79M | -4.05M | -1.4M | -4.24M | -3.43M | -3.55M | -4.81M |
| Depreciation & Amortization | 1.18M | 782.84K | 353.99K | 197.47K | 129.95K | 136.12K | 217.29K | 264.87K | 264.44K | 275.84K | 268.27K | 273.44K | 252.52K | 266.67K | 232.83K | 240.91K | 246.77K | 235K | 191.81K | 77.55K |
| Stock-Based Compensation | 354.02K | 0 | 0 | 16.17K | 380.86K | 138.32K | 28.13K | 46.27K | 247.25K | 74.33K | 84.09K | 628.92K | 110.29K | 312.88K | 153.76K | 367.05K | 584.37K | 1.59M | 1.9M | 1.82M |
| Deferred Taxes | -9K | -3.16K | 11.01K | -23.89K | -9.05K | 22.29K | 20.69K | -170.32K | -48.97K | -56.86K | -71.89K | -201.85K | -17.14K | 10K | 205.36K | 86.08K | -68.58K | 35.47K | -258.45K | -26.38K |
| Other Non-Cash Items | -2.17M | 396.24K | 6.58M | 4.33M | -1.03M | -1.07M | 921.94K | 731.92K | 5.32M | -4.97M | 1.03M | -1.45M | 3.15M | -65.7K | 134.15K | -212.36K | 773.03K | 112.6K | 570.71K | 10.71K |
| Working Capital Changes | 1.02M | 4.99M | 4.25M | -85.22K | -1.68M | -3.34M | 1.96M | 975K | -3.23M | -448.2K | 356.28K | -320.9K | -54.35K | 2.31M | 1.84M | -641.19K | -1.75M | -2.06M | 772.11K | -419.05K |
| Change in Receivables | -112.62K | 31.4K | 244.3K | -71.17K | -138.04K | 217 | 184.59K | -105.49K | 123.97K | 50.16K | 32.55K | -131K | -147.49K | 167.65K | 52.56K | -312.2K | 288.45K | -181.63K | 113.99K | -184.48K |
| Change in Inventory | 1.3M | 5.5M | 3.58M | 138.61K | -821.54K | -99.72K | -720.88K | -853.1K | -1.47M | -737.18K | 273.95K | -200.94K | 115.83K | -540.63K | 1.15M | -232.58K | -235.71K | -798.08K | -579.35K | -160.51K |
| Change in Payables | 0 | 685.79K | 932.75K | 0 | 0 | 0 | 0 | 0 | 0 | 203.2K | -1.01M | -112.8K | 0 | 0 | 0 | 0 | 0 | -1M | 1.11M | -133.29K |
| Cash from Investing | -300.41K | 3.76M | 1.89M | -493.95K | -80.44K | -8.61K | 12.05K | 850.69K | -258.46K | 11.33K | -104.51K | -221.55K | -67.76K | -143.2K | -298.11K | -148.3K | -412.06K | -106.03K | -5.35M | -3.6M |
| Capital Expenditures | -258.87K | -75.29K | -13.21K | -381.27K | -27.76K | -6.8K | -71.48K | -218.33K | -207.93K | -39.2K | -104.51K | -221.55K | -268.96K | -343.79K | -495.39K | -148.16K | -415.99K | -148.58K | -359.59K | -196.27K |
| CapEx % of Revenue | 1.78% | 0.48% | 0.1% | 136.85% | 26.13% | 4.76% | 7.12% | 34.25% | 28.27% | 4.01% | 4.85% | 47.48% | 32.08% | 24.55% | 14.41% | 7.42% | 55.15% | 12.09% | 15.63% | 26.16% |
| Acquisitions | 0 | 0 | 1.9M | 0 | 0 | 0 | 96.19K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -41.54K | 3.83M | 0 | -112.68K | -52.68K | -1.81K | -12.66K | 1.07M | -50.52K | 50.52K | 0 | 0 | 201.2K | 200.58K | 197.28K | -136 | 3.93K | 42.55K | -4.98M | -3.4M |
| Cash from Financing | 3.55M | -10.73M | -3.98M | -219.33K | 20.26M | 6.62M | 216.18K | -516.22K | 6.45M | 1.58M | 4.56M | 1.81M | 5.79M | -75.93K | -250.13K | -192.04K | 80.46K | -69 | -163.07K | -48.89K |
| Debt Issued (Net) | -5.64M | 71.47K | -228.1K | -219.33K | -99.89K | -64.43K | 114.3K | -516.22K | -90.86K | -205.12K | -367.99K | -731.72K | 672.85K | -94.64K | -260.13K | -192.04K | 250.57K | -176.84K | -317 | -48.89K |
| Equity Issued (Net) | 9.26M | 0 | 6.24M | 0 | 20.36M | 6.79M | -1.78M | 0 | 0 | 1.78M | 4.95M | 2.54M | 5.1M | 18.71K | 10K | 0 | 0 | 0 | -136.04K | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -74.97K | -10.8M | -9.99M | 0 | 0 | -102.02K | 1.88M | 0 | 6.55M | 0 | -18.71K | 0 | 18.71K | 0 | 0 | 0 | -170.11K | 176.77K | -26.71K | 0 |
| Net Change in Cash | 1.76M | -5.62M | -502.25K | -6.08M | 14.36M | 900.45K | -278.18K | -843.77K | 343.1K | -2.52M | 1.82M | -2.58M | 2.46M | -4.17M | -2.03M | -1.9M | -4.78M | -3.61M | -5.89M | -6.99M |
| Free Cash Flow | -1.81M | 1.79M | 1.88M | -5.75M | -5.9M | -5.72M | -590.56K | -1.45M | -6.06M | -4.14M | -2.74M | -4.38M | -3.53M | -4.29M | -1.98M | -1.71M | -4.86M | -3.66M | -730.21K | -3.54M |
| FCF Margin % | -12.49% | 11.42% | 14.17% | -2064.31% | -5551.58% | -4000.89% | -58.82% | -227.03% | -824.11% | -423.7% | -127.02% | -939.59% | -421.15% | -306.71% | -57.53% | -85.57% | -644.58% | -297.31% | -31.74% | -472.33% |
| FCF Growth % | 69.24% | 131.33% | 419.04% | -297.39% | 2.68% | -38.03% | 78.42% | 66.99% | -71.65% | 3.51% | -38.34% | -156.53% | 27.38% | -17.5% | -170.92% | 51.77% | -61.66% | -78.95% | -348.76% | - |
| FCF per Share | -22.60 | 143.64 | 762.79 | -2104.33 | -3643.33 | -31426.98 | -14403.80 | -62923.17 | -275491.64 | -197326.71 | -144037.84 | -243589.39 | -220682.63 | -268404.69 | -123643.13 | -106824.88 | -324162.87 | -243668.07 | -48680.73 | -236271.87 |
| FCF Conversion (FCF/Net Income) | 0.80x | -0.43x | -0.20x | 0.77x | 1.60x | 3.59x | 0.14x | 0.39x | 0.69x | -4.04x | 0.60x | 1.35x | 0.48x | 0.58x | 0.36x | 0.81x | 1.20x | 1.00x | 0.10x | 0.71x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 4.17K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |