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DIRTT Environmental Solutions (DRTT) investor relations material

DIRTT Environmental Solutions Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary31 Jul, 2025

Executive summary

  • Q2 2025 revenue declined 6% year-over-year to £38.9M ($38.9M), impacted by macroeconomic headwinds and new tariffs on aluminum and steel.

  • Net loss after tax was $6.6M (17.0% margin), compared to net income of $0.6M (1.4% margin) in Q2 2024.

  • Adjusted EBITDA was a $2.0M loss (-5.2% margin), down from a $3.2M gain (7.7% margin) in Q2 2024, driven by higher expenses and lower gross profit.

  • Twelve-month forward sales pipeline surpassed $300M, up 12% from January 1, 2025, and 7% from April 1, 2025, with strong growth in Integrated Solutions.

  • Strategic initiatives and product innovations are underway, with management optimistic about growth and recovery.

Financial highlights

  • Gross profit margin fell to 27.8% from 37.3% year-over-year, with adjusted gross profit margin at 30.4% in Q2 2025.

  • Tariff-related costs totaled $2.0M (5.1% of revenue), significantly impacting margins.

  • Operating expenses increased 6% year-over-year, mainly due to higher litigation and compensation costs.

  • Cash flows used in operations were $(3.9)M in Q2 2025.

  • Liquidity stood at $31.1M as of June 30, 2025, including $8M undrawn ABL credit facility.

Outlook and guidance

  • Q3 2025 expected to reflect similar tariff pressures and customer behavior as Q2, with revenue under pressure and delayed contracts.

  • Tariff mitigation actions and price increases are expected to offset impacts by Q4, with a return to positive adjusted EBITDA anticipated.

  • Twelve-month forward pipeline is at its highest in over two years, with Integrated Solutions pipeline up 20% year-to-date.

  • Order conversion is expected to normalize over the next two quarters as markets adjust to new tariffs.

  • Focus remains on revenue expansion, product innovation, and operational efficiency.

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Frequently asked questions

DIRTT Environmental Solutions Ltd. is a Canada-based company specializing in the design and manufacturing of customizable interior construction solutions. The company uses a proprietary technology platform to produce prefabricated modular walls, doors, millwork, and other architectural components tailored to client specifications. DIRTT serves a range of sectors, including healthcare, education, corporate, and hospitality, offering sustainable and efficient building solutions that reduce construction time and waste. The company is headquartered in Calgary, Alberta, and its shares are listed on the NASDAQ.

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