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BuildDirect.com (BILD) investor relations material
BuildDirect.com Planet MicroCap Showcase: TORONTO 2025 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Market overview and industry dynamics
Flooring industry has a $90 billion TAM, driven mainly by renovation rather than new construction cycles.
Highly fragmented market with many small entities, offering significant consolidation opportunities.
Big box retailers like Home Depot and Lowe's have peaked in the space, leaving room for specialized players.
Commercial, hospitality, and medical segments are also served, not just residential.
Pro customer segment is growing, with 500,000 potential pro customers in the U.S.
Business model and growth strategy
Operates nine Pro Centers and a legacy e-commerce business, with a focus on serving professional contractors.
Growth is driven by both organic expansion and M&A, with a preference for buying when financially advantageous.
Targeting 75 locations and $500 million in revenue, focusing on digital-friendly markets and the Sunbelt.
Pro Centers offer value-added services like co-branded websites and may expand into payment processing.
Plans to enter the tile segment, which represents 35% of the flooring TAM.
Financials and operational efficiency
Current gross revenue is $65 million with a 40% margin, aiming for 55% with direct procurement.
Each location averages $7.5 million in revenue and 12–15% EBITDA, with a scalable corporate platform.
E-commerce business is being scaled back up, targeting a $50 million run rate from the current $15 million.
Asset-light approach with a focus on quick payback periods (2–3 years, ideally 1 year).
Shareholding is tightly held, with over 70% on the inside and institutional side.
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