Quarterly ResultMay 6, 2026, 05:07 PM
DIRTT Q1 Revenue $42.4M, Net Loss $3.3M; Maintains 2026 Guidance
AI Summary
DIRTT Environmental Solutions Ltd. reported Q1 2026 financial results, with revenue increasing 3% to $42.4 million. However, the company's net loss after tax widened to $3.3 million, and Adjusted EBITDA decreased to $1.4 million. Despite these declines, DIRTT maintained its full-year 2026 revenue and Adjusted EBITDA guidance, citing a 16% increase in its twelve-month forward-looking pipeline. The company also announced the repayment of convertible debentures, received financing from BDC, and saw management changes.
Key Highlights
- Q1 2026 revenue increased 3% to $42.4 million from $41.3 million in Q1 2025.
- Q1 2026 net loss after tax was $3.3 million, compared to a $0.7 million net loss in Q1 2025.
- Adjusted EBITDA for Q1 2026 decreased to $1.4 million (3.3% of revenue) from $2.1 million (5.1% of revenue) in Q1 2025.
- Liquidity was $25.1 million at March 31, 2026, down from $32.1 million at December 31, 2025.
- Repaid C$16.6 million ($12.1 million) convertible debentures on January 31, 2026.
- Received $6.9 million from BDC financing, with a third C$5.0 million disbursement expected in H2 2026.
- Maintained 2026 revenue guidance of $194.0 - $209.0 million and Adjusted EBITDA guidance of $26.0 - $31.0 million.
- Twelve-month forward-looking pipeline grew 16% year-over-year to approximately $338 million.