Q2 2025 DIRTT Environmental Solutions Ltd Earnings Call Transcript

Jul 31, 2025 / 02:00PM GMT

Release Date Price: C$0.82 (-8.89%)

Transcript 8-K10-Q

Key Points

Positve

DIRTT Environmental Solutions Ltd (DRTTF) has a 12-month forward sales pipeline of $311 million, marking a 12% increase from earlier in the year.
The company has implemented a strategic integrated solutions team to support partners and expand into new market segments, resulting in successful project wins.
DIRTT's on-time in-full delivery performance reached 99% in Q2, indicating high operational efficiency.
The company has introduced innovative products like the One-Hour Fire-rated wall and freestanding office pods, expanding its market reach.
DIRTT's safety record is strong, with a total recordable incident rate 62% lower than the industry average, earning recognition as an excellence awardee for Canada's Safest Employers Awards.

Negative

Revenues for the second quarter were $38.9 million, a decrease of 6% compared to the same period in 2024.
Gross profit margin decreased significantly from 37.3% to 27.8% due to tariff duties and lower revenue volumes.
The company reported a net loss after tax of $6.6 million for the second quarter of 2025, compared to a net income of $0.6 million in the same period of 2024.
Adjusted EBITDA for the second quarter of 2025 was a $2 million loss, a decrease from a $3.2 million adjusted EBITDA in the second quarter of 2024.
Operating expenses increased by 6% from the same quarter last year, driven by litigation costs and compensation expenses.

Operator

Thank you for standing by. This is the conference operator. Welcome to the DIRTT Environmental Solutions second-quarter 2025 financial results conference call. (Operator Instructions) The conference is being recorded. I would now like to turn the conference over to Kristin Bradfield, Senior Vice President of Marketing and Communications. Please go ahead.

Kristin Bradfield

DIRTT Environmental Solutions Ltd - Senior Vice President, Marketing and Communications

Thank you, operator, and good morning, everyone. Welcome to today's call to discuss DIRTT's second-quarter 2025 results. Joining me on the call today will be Benjamin Urban, CEO; and Fareeha Khan, CFO.

Today's call will include forward-looking statements within the meaning of applicable Canadian and United States securities laws. These statements are based on the company's current intent, expectations and projections. They are not guarantees of future performance. In addition, this call will reference non-GAAP results, excluding special items. Please reference our Form 10-Q as filed on July 30,

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