BuildDirect.com Technologies (BILD) Q3 2025 earnings summary

Executive summary

• Q3 2025 revenue rose 6.5% year-over-year to $18.1M, with gross margin up to 38.95% and adjusted EBITDA up 23.23% to $0.97M, marking 15 consecutive quarters of positive adjusted EBITDA.

• Achieved double-digit adjusted EBITDA growth and improved gross margin, driven by operational discipline, strong ProCenter performance, and omni-channel alignment.

• E-commerce and ProCenter models are fully integrated, supporting higher conversion and scalable growth.

• Orlando Pro Center integration exceeded expectations, with $1.6M in open orders for Q4 and commercial sales surpassing targets.

• Working capital increased to $8.6M and cash reserves grew to $8.8M, supported by a C$7.0M capital raise.

Financial highlights

• Q3 2025 revenue was $18.1M, up from $16.97M in Q3 2024, with gross profit at $7.04M and gross margin improving to 38.95%.

• Adjusted EBITDA grew 23% year-over-year to $0.97M, while net loss increased to $0.95M, mainly due to non-cash items.

• Cash balance at quarter-end was $8.8M, up $6.5M from year-end 2024, reflecting equity raise and improved cash flow.

• Working capital rose to $8.6M, up 219% year-over-year.

• Adjusted EBITDA margin increased to 5.36% from 4.63% year-over-year.

Outlook and guidance

• Growth will be driven by e-commerce expansion, disciplined tuck-in acquisitions, and ProElite Program scaling across all markets in 2026.

• Focus on integrating $5–$15M revenue businesses with inventory-backed valuations for rapid impact.

• Plans to accelerate growth by expanding Pro Centers, enhancing the e-commerce platform, and capturing synergies from acquisitions.

• Emphasis on organic growth, working capital efficiency, and steady tuck-in acquisitions.