Vision Marine Technologies Granted Two U.S. Patents Securing Core Electric Marine Architecture [Accessibility Statement] Skip NavigationMONTREAL, Feb. 26, 2026 /PRNewswire/ -- Vision Marine Technologies Inc. (NASDAQ: VMAR) ("Vision Marine" or the "Company"), an electric marine technology company specializing in high-voltage marine propulsion, together with its retail network, Nautical Ventures, an award-winning Florida-based dealership group, today announced that the United States Patent and Trademark Offic ...

Core Insights - Ocean Power Technologies, Inc. has received a Purchase Order of approximately $1.5 million from the United States Coast Guard for the installation and deployment of buoy systems [1] - This order is expected to contribute to near-term revenues as installation and deployment activities commence, supporting the Department of Homeland Security's maritime security missions [2][5] Group 1: Order Details - The Purchase Order completes the acquisition cycle and enables the near-term fielding of the systems [2] - Under the scope of work, the company will execute deployment, commissioning, and operational activation to ensure the systems are fully integrated and mission-ready [3] Group 2: Strategic Focus - The company is expanding its focus on defense and security, allowing for deeper engagement with customers and a better understanding of their mission challenges [4] - This strategic emphasis aligns with the updated doctrine of the U.S. Department of Homeland Security and the U.S. Department of Defense to strengthen Homeland Defense [4] Group 3: Product Offerings - Ocean Power Technologies provides intelligent maritime solutions and services for various markets, including defense and security, oil and gas, science and research, and offshore wind [6] - The company's PowerBuoy® platforms offer clean and reliable electric power and real-time data communications for remote maritime and subsea applications [6]

Core Viewpoint - Vision Marine Technologies Inc. has filed a new U.S. patent application to support the development of its high-voltage electric marine powertrain platform, which includes a modular mechanical integration system for pairing electric motors with conventional outboard lower units [1] Company Developments - The patent application is aimed at enhancing the integration of electric motors in marine environments, addressing alignment tolerances and operational loads [1] - Vision Marine has recently acquired Nautical Ventures, a Florida-based dealership group, which will support its retail network [1]

Core Viewpoint - Vision Marine Technologies has filed a new U.S. patent application to enhance its high-voltage electric marine powertrain platform, focusing on structural integration with conventional outboard assemblies, which will facilitate broader compatibility and reduce development costs for boat manufacturers [1]. Group 1: Patent Filing and Technology - The patent application relates to a structural integration system that allows electric motors to be paired with traditional outboard assemblies while ensuring precise alignment and load management under marine conditions [1]. - This innovation supports reliable torque transfer and long-term durability without the need for proprietary lower units, enabling electric propulsion to integrate with existing outboard architectures [1]. - Vision Marine's intellectual property portfolio now includes 14 pending patent applications focused on high-voltage electric marine propulsion systems, reinforcing its strategy to secure proprietary technology for recreational use [1]. Group 2: Commercial and Strategic Implications - The patent filing supports the company's ability to apply a standardized high-voltage propulsion architecture across various outboard formats, promoting scalable production and efficient training for service teams [1]. - By securing the mechanical interface between the motor and lower unit, the company enhances its control over system performance and lifecycle support [1]. - The strategic focus is on creating a unified electric marine powertrain system rather than relying on disconnected third-party components, aligning technology development with market access for a durable and scalable platform [1].

Core Insights - Coda Octopus reported a consolidated net revenue increase of 30.7% for fiscal year 2025, reaching $26.6 million compared to $20.3 million in fiscal year 2024 [28][29] - The company operates three main business segments: marine technology, defense engineering services, and acoustics, sensors, and materials [4][10] - The marine technology segment generated 49.8% of total revenue, with a focus on underwater imaging technologies and real-time information platforms [4][5] Financial Performance - Total revenue for the marine technology business was $13.2 million, reflecting a 3.2% increase from the previous year [28] - The defense engineering services business saw a revenue increase of 5.6%, totaling $7.9 million [12][29] - The newly acquired acoustics, sensors, and materials business contributed $5.4 million, accounting for 20.4% of consolidated revenue [28][34] Product Highlights - The Echoscope, a flagship imaging sonar, is crucial for underwater applications and represents a significant revenue source, contributing 71.9% of marine technology revenue [11][15] - The NanoGen series, a new ultra-compact sonar, is designed for various underwater platforms and aims to enhance the company's market share in defense applications [7][18] - The Diver Augmented Vision Display (DAVD) system is gaining traction in both defense and commercial diving sectors, with a focus on enhancing safety and efficiency [9][21] Market Dynamics - The marine technology business is positioned to capitalize on the growing demand for AI-enabled autonomous capabilities in the subsea market [5][16] - The defense sector accounted for 46% of the core business revenue, indicating a strategic shift towards defense-related opportunities [35][62] - The company is actively pursuing broader adoption of its technologies in international markets, particularly in Europe [41][52] Strategic Initiatives - Coda Octopus aims to pivot its revenue model towards multi-year program-based adoption, focusing on recurring sales and long-term revenue streams [37][62] - The company is exploring potential acquisitions to enhance its growth strategy and expand its market presence [37][63] - The successful completion of the DAVD hardening program is expected to facilitate broader military adoption and operational use [24][41]

Financial Data and Key Metrics Changes - Consolidated net revenue for fiscal year 2025 increased by 30.7% to $26.6 million, compared to $20.3 million in fiscal year 2024 [23][25] - Gross profit rose to $17.7 million from $14.2 million, with a consolidated gross margin of 66.5%, down from 69.8% in the previous year [25][26] - Operating income increased by 26.6% to $4.5 million, with an operating margin of 17.1%, slightly down from 17.6% [28] Business Line Data and Key Metrics Changes - Marine technology business revenue increased by 3.2% to $13.2 million, contributing 49.8% of consolidated net revenue [4][23] - Defense engineering services revenue rose by 5.6% to $7.9 million [25] - The newly acquired Acoustic Sensors and Materials business generated $5.4 million, contributing 20.4% to consolidated net revenue [23][11] Market Data and Key Metrics Changes - In the marine technology business, 46% of revenue came from the defense sector, while 54% was from the commercial marine sector [9][31] - Hardware sales increased by 30.5% to $9.5 million, with significant growth in Asia, where sales rose by approximately 7.7% [9][10] Company Strategy and Development Direction - The company aims to pivot its revenue model towards a multi-year program-based adoption model, focusing on recurring sales and long-tail revenue [33] - The launch of the NanoGen series sonar is positioned as a core real-time perception sensor for AI-enabled autonomous platforms [32][14] - The company is actively seeking to complete acquisitions to enhance growth and shareholder value [64] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth in the defense sector, which is seen as a key area for future revenue [31][60] - The company anticipates that procurement decisions for active opportunities will be made in early 2026, with initial deliveries expected to align with customer deployment schedules [17][16] - Management highlighted the importance of broader adoption of DAVD technology outside the U.S. as a critical benchmark for growth [47] Other Important Information - The company had $28.7 million in cash and cash equivalents as of October 31, 2025, with no debt [29] - Total operating expenses increased by 24.0% to $13.1 million, primarily due to the addition of Precision Acoustics Limited and currency translation effects [27] Q&A Session Summary Question: Updates on deliveries to the Indian Navy - Management was unclear about the Indian Navy deliveries and did not confirm any new customer relationships [35] Question: Progress in Europe regarding DAVD systems - Management confirmed the delivery of two systems to a European navy and expressed excitement about potential larger orders following training [36][37] Question: Cumulative deliveries of the untethered DAVD system - In fiscal 2025, the company achieved $3.7 million in DAVD revenue and anticipates beating this in fiscal 2026, pending approval for operational use [39][40] Question: Offshore commercial demand environment outlook - Management noted a significant uptick in rental opportunities in Q4 and emphasized the importance of the defense market for future growth [59][60]

Financial Data and Key Metrics Changes - Consolidated net revenue for fiscal year 2025 increased by 30.7% to $26.6 million from $20.3 million in fiscal year 2024 [23][25] - Gross profit rose to $17.7 million, with a gross margin of 66.5%, down from 69.8% in the previous year [25][26] - Operating income increased by 26.6% to $4.5 million, with an operating margin of 17.1% [28] Business Line Data and Key Metrics Changes - Marine technology business revenue increased by 3.2% to $13.2 million, contributing 49.8% of consolidated net revenue [4][23] - Defense engineering services revenue grew by 5.6% to $7.9 million [25] - Acoustic Sensors and Materials business, added in October 2024, generated $5.4 million, contributing 20.4% to consolidated net revenue [23][25] Market Data and Key Metrics Changes - 46% of marine technology business revenue came from the defense sector, while 54% was from the commercial marine sector [31] - Hardware sales in the marine technology business increased by 30.5% to $9.5 million [9] - Rental assets were underutilized, impacting gross profit margins due to changes in U.S. policy on offshore renewables [10] Company Strategy and Development Direction - The company aims to pivot the revenue model of the marine technology business towards a multi-year program-based adoption model [33] - Focus on increasing market share in underwater imaging sensors within the defense sector, leveraging the unique capabilities of the Echoscope and DAVD technologies [6][12] - The launch of the NanoGen series sonar is positioned as a core real-time perception sensor for AI-enabled autonomous platforms [14][32] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth potential in the defense sector, highlighting the importance of securing contracts and expanding market presence [31][60] - The company anticipates procurement decisions for active opportunities in early 2026, with expectations for initial deliveries to commence within the 2026 fiscal year [17] - Management noted the challenges posed by the global policy environment but emphasized the solid financial results achieved [4][23] Other Important Information - The company has $28.7 million in cash and cash equivalents with no debt, representing an increase from $22.5 million the previous year [29] - The acquisition of Precision Acoustics Limited is expected to enhance capabilities in underwater acoustics and position the company for larger defense contracts [8][11] Q&A Session Summary Question: Updates on deliveries to the Indian Navy - Management was unclear about the specifics regarding the Indian Navy and did not confirm any new customer relationships [35] Question: Progress in Europe and future orders - Management expressed excitement about delivering systems to a European navy and anticipated that training would catalyze further adoption [36][37] Question: Cumulative deliveries of the DAVD untethered system - In fiscal 2025, the company achieved $3.7 million in DAVD revenue and expects to exceed this in fiscal 2026, pending approval for operational use [39][40] Question: Foreign navies testing DAVD - Management highlighted the importance of U.S. Navy approval for broader adoption and mentioned involvement with multiple foreign navies [42][46] Question: Next generation Echoscope customer feedback - Management reported strong interest in the NanoGen series, indicating it is a game changer for various markets [50][51]

Financial Data and Key Metrics Changes - Consolidated net revenue for fiscal year 2025 increased by 30.7% to $26.6 million from $20.3 million in fiscal year 2024 [24] - Gross profit rose to $17.7 million, with a gross margin of 66.5%, down from 69.8% in the previous year [25] - Operating income increased by 26.6% to $4.5 million, with an operating margin of 17.1% [29] - Net income after taxes was $4.1 million, or $0.37 per diluted share, compared to $3.6 million or $0.32 per diluted share in fiscal year 2024 [30] Business Line Data and Key Metrics Changes - Marine technology business generated $13.2 million in revenue, a 3.2% increase from $12.8 million in fiscal year 2024 [24] - Defense engineering services revenue increased by 5.6% to $7.9 million [25] - The newly acquired Acoustic Sensors and Materials business contributed $5.4 million, accounting for 20.4% of consolidated net revenue [24][31] Market Data and Key Metrics Changes - 46% of marine technology business revenue came from the defense sector, while 54% was from the commercial marine sector [32] - Hardware sales in the marine technology business increased by 30.5% to $9.5 million [9] - Revenue from Asia, a key market, rose by approximately 7.7% to $5.9 million [9] Company Strategy and Development Direction - The company aims to pivot the revenue model of the marine technology business towards a multi-year program-based adoption model [34] - Focus on increasing market share in underwater imaging sensors within the defense sector, leveraging the unique capabilities of the Echoscope and DAVD technologies [6][32] - The launch of the NanoGen series sonar is positioned as a core real-time perception sensor for AI-enabled autonomous platforms [33] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth potential in the defense sector, highlighting the importance of securing contracts and expanding market presence [32] - The company anticipates procurement decisions for active opportunities in early 2026, which could lead to recurring production contracts and sustained growth [17] - Management noted challenges in the commercial marine market due to changes in U.S. policy affecting offshore renewables, impacting rental asset utilization [10] Other Important Information - The company completed a hardening program for the untethered DAVD system, which is expected to facilitate broader adoption in the military diving market [20] - The acquisition of Precision Acoustics Limited enhances the company's capabilities in underwater acoustics, positioning it for larger defense contracts [8] Q&A Session Summary Question: Updates on deliveries to the Indian Navy - Management was unclear about the Indian Navy deliveries and did not confirm any new customer relationships [37] Question: Progress in Europe regarding DAVD systems - Two systems were delivered to a European navy, with training scheduled, which is expected to catalyze further adoption [39] Question: Cumulative deliveries of the untethered DAVD system - In fiscal 2025, the company achieved $3.7 million in DAVD revenue and anticipates beating this in fiscal 2026, pending approval for operational use [41][42] Question: Offshore commercial demand environment outlook - The commercial marine market is expected to see good opportunities, with a noted uptick in rental sales in Q4 [59] Question: Capital allocation priorities with $28 million in cash - The company plans to pursue accretive acquisitions as a primary means of growth and return to investors [65]

Core Insights - A significant shift is occurring in the small-cap sector, particularly for companies valued under $2 billion, as they transition from R&D to mass commercialization and revenue generation by January 2026 [3][4] - The small-cap market presents a higher risk and volatility compared to blue-chip stocks, but offers substantial growth potential for companies that successfully execute their business models [4] - Kraken Robotics has made headlines with a $35 million order for subsea battery technology, indicating a strong demand for its SeaPower technology and validating its leadership in marine defense systems [6][8] Company Highlights - Kraken Robotics specializes in ultra-high-resolution sensors and subsea batteries, catering to defense contractors and offshore energy clients [6] - The recent $35 million battery orders from three customers exceed Kraken's entire Q3 2025 revenue of $31.3 million, showcasing a significant acceleration in demand [7] - The subsea batteries developed by Kraken require specialized engineering, confirming the company's technology as a preferred standard for autonomous underwater vehicles (AUVs) [9] Industry Developments - Enovix Corporation has completed critical testing of its high-volume manufacturing line, enabling scalability for mass-commercial production [8] - Aehr Test Systems is pivoting its business model to meet the growing demand for reliability and burn-in testing of artificial intelligence processors [8]

HOUSTON, Jan. 16, 2026 /PRNewswire/ -- Fleetzero, a marine technology company building hybrid and electric propulsion systems for ships, today announced a $43 million Series A financing and the opening of a new manufacturing and R&D facility in Houston, Texas. The capital will be used to expand manufacturing of Fleetzero's Leviathanâ"¢ hybrid and electric marine propulsion system, which is being deployed globally on commercial vessels. Continue Reading "Hybrid and electric propulsion systems are simply chea ...