BuildDirect.com Technologies (BILD) Q2 2025 earnings summary

Executive summary

• Q2 2025 revenue reached $16.9 million, up 4.2% year-over-year, with gross margin expanding to 39.9% from 38.2% last year, despite industry headwinds and macroeconomic pressures.

• Net income was $138,000, reversing a loss of $517,000 in Q2 2024, and adjusted EBITDA was $600,000, marking 14 consecutive quarters of positive performance.

• Cash flow from operating activities increased to $529,000, up 495% year-over-year.

• Working capital rose to $3.6 million as of June 30, 2025.

• Expansion included a new Pro Center in Santa Fe Springs, CA, and a bolt-on acquisition in Orlando, FL.

Financial highlights

• Q2 2025 revenue was $16.9 million, gross profit $6.72 million, and gross margin 39.9%, up 170 basis points year-over-year.

• Adjusted EBITDA was $600,000, slightly above last year's $578,000; EBITDA including a $1.2 million tax credit was $1.47 million.

• Operating expenses rose to $6.9 million, mainly due to the new Orlando Pro Center; excluding this, expenses were flat year-over-year.

• Cash and cash equivalents at quarter-end were $4.07 million.

• Operating cash flow improved to $529,000 from $89,000 in Q2 2024.

Outlook and guidance

• Growth plan focuses on scaling e-commerce, expanding the Pro Center footprint in North America, and launching a pro marketing funnel.

• E-commerce business targeted to double or triple its current run rate, with higher growth rates expected starting Q4 2025.

• Well-capitalized after C$7M financing to pursue organic growth and accretive M&A.

• No immediate plans for new equity raises; growth to be funded through existing cash, debt facility, and operating cash flow.

• Management targets continued positive adjusted EBITDA and cash flow.