BuildDirect.com Technologies (BILD) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenue was $15.1 million, with a gross margin of 41.3% and adjusted EBITDA of $650,000, reflecting operational efficiency and margin improvement.

• The company is expanding its North American footprint through organic growth and acquisitions, targeting a highly fragmented $90 billion flooring market.

• Leveraging a hybrid brick-and-mortar and e-commerce model, the company aims to drive operational efficiencies and capture demand.

• Achieved 13 consecutive quarters of positive adjusted EBITDA.

• Strategic focus includes consolidating the industry, expanding into adjacent home improvement categories, and building a scalable platform.

Financial highlights

• Q1 2025 revenue was $15.1 million, down 3.2% year-over-year, with gross profit up 2.2% to $6.22 million and gross margin rising to 41.3% from 39.1%.

• Adjusted EBITDA improved to $650,000 from just over $500,000 in Q1 2024, a 28.9% increase.

• Net loss was $0.89 million, narrowed by 50.3% year-over-year.

• Cash position at quarter-end was $3.5 million, up $1.2 million year-over-year.

• Working capital stood at $2.5 million at March 31, 2025.

Outlook and guidance

• No formal guidance for 2025 due to the opportunistic M&A strategy, but management targets $15–$20 million in acquired revenue for the year.

• Plans to expand the Pro Center network in the U.S. and Canada, focusing on disciplined, profitable growth and operational efficiency.

• Committed to EBITDA growth through operational improvements and working capital discipline.

• Seasonality impacts Q4 and Q1, especially in Michigan, but is less pronounced in other regions.