Financial Statements — VMAR
Balance Sheet
(in millions CAD)| Metric | Q3
2025 | Q2
2025 | Q1
2025 | Q3
2024 | Q2
2024 |
|---|
| Cash & Equivalents | 10.89 | 15.32 | 0.96 | 0.34 | 1.19 |
| Inventory | 7.11 | 7.17 | 6.31 | 5.49 | 4.78 |
| Total Current Assets | 21.71 | 25.66 | 10.56 | 8.96 | 10.29 |
| Goodwill | -- | -- | -- | 4.43 | 5.43 |
| Total Non-current Assets* | 2.79 | 2.61 | 2.70 | 8.18 | 11.04 |
| Total Assets | 24.50 | 28.27 | 13.26 | 17.14 | 21.33 |
| Total Current Liabilities | 5.53 | 2.36 | 3.66 | 4.00 | 5.02 |
| Total Non-current Liabilities* | 2.08 | 2.18 | 0.46 | 9.42 | 9.91 |
| Total Liabilities | 7.61 | 4.54 | 4.13 | 13.42 | 14.94 |
| Retained Earnings | (77.95) | (70.81) | (67.20) | (61.96) | (58.93) |
| Total Stockholder Equity | 16.89 | 23.73 | 9.13 | 3.72 | 6.40 |
* Derived from reported values
Income Statement
(in millions CAD) (except per-share rows)| Metric | Q3
2025 | Q2
2025 | Q1
2025 | Q3
2024 | Q2
2024 |
|---|
| Total Revenue | 0.29 | 0.11 | 0.14 | 1.06 | 0.73 |
| Cost of Revenue* | 0.25 | 0.11 | 0.19 | 0.61 | 0.51 |
| Gross Profit | 0.03 | (0.01) | (0.05) | 0.45 | 0.22 |
| Research & Development | 0.74 | 0.79 | 0.25 | 0.63 | 0.33 |
| Selling, General & Admin | 0.45 | 0.47 | 0.38 | 0.59 | 0.71 |
| Total Operating Expenses | -- | -- | -- | 3.66 | 8.67 |
| Pretax Income | (7.15) | (3.62) | (1.57) | (3.21) | (8.45) |
| Tax Provision | -0.00 | (0.01) | 0.02 | (0.18) | (0.04) |
| Net Income | (7.14) | (3.61) | (1.59) | (3.03) | (8.41) |
| Basic EPS | (6.53) | (5.57) | (1.97) | (2.50) | (7.20) |
| Diluted EPS | (6.53) | (5.57) | (1.97) | (2.50) | (7.20) |
* Derived from reported values
Cash Flow Statement
(in millions CAD)| Metric | Q3
2025 | Q2
2025 | Q1
2025 | Q3
2024 | Q2
2024 |
|---|
| Operating Cash Flow | (15.44) | (11.53) | (5.71) | (11.14) | (9.96) |
| Investing Cash Flow | (0.45) | (0.09) | (0.01) | 0.60 | (0.25) |
| Financing Cash Flow | 26.72 | 26.88 | 6.62 | 7.51 | 8.03 |
