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DIRTT Environmental Solutions
DIRTT Environmental Solutions (DRTT) investor relations material
DIRTT Environmental Solutions Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary6 Nov, 2025
Executive summary
Q3 2025 marked a return to positive adjusted EBITDA and improving margins, supported by cost reduction and tariff mitigation, despite a 13% year-over-year revenue decline due to order delays and tariffs.
The Transformation Office was established to drive strategic transformation, operational efficiency, and cost improvements, incurring $2.6 million in reorganization expenses.
Construction Services division was formalized, contributing $50 million to the $333 million 12-month forward pipeline, with notable wins from clients like Google and Exxon.
The 12-month forward sales pipeline increased 20% since January 2025, reaching $333–$333.5 million, with 49% from repeat customers.
Net loss after tax was $3.5 million, compared to net income of $7.1 million in Q3 2024.
Financial highlights
Q3 2025 revenue was $37.7 million, down 13% year-over-year; product revenue was $36.7 million and service revenue $1.0 million.
Gross profit margin was 30.4% in Q3 2025, up from 27.8% in Q2 2025 but down from 38.8% in Q3 2024; adjusted gross profit margin was 33.1%.
Adjusted EBITDA was $1.2 million (3.1% margin), down from $4.1 million (9.4%) in Q3 2024.
Operating expenses (excluding special items) decreased 17% year-over-year to $11.8 million; sales and marketing and G&A expenses also declined.
Liquidity at quarter-end was $32.3 million, including $26.1 million cash and $6.2 million undrawn ABL facility.
Outlook and guidance
Q4 2025 revenue expected between $48–$52 million; adjusted EBITDA forecasted at $5–$7 million.
12-month forward pipeline at $333–$333.5 million, up 20% from January 2025.
Construction Services division represents $50 million of the pipeline and is expected to contribute more than 10% of revenue in 2026.
Transformation Office program to continue into 2026, aiming for cost improvements and productivity gains.
Management expects continued operating leverage and margin improvement as revenue scales.
Quantify expected operating leverage from transformation
How does Construction Services alter market access?
Pipeline conversion rate outlook with CS growth?
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Next DIRTT Environmental Solutions earnings date
Q4 202526 Feb, 2026
DIRTT Environmental Solutions
Next DIRTT Environmental Solutions earnings date
Q4 202526 Feb, 2026
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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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