DIRTT Q2 revenue $44.7M, net loss $19.3M; CFO retires, GC departs

DIRTT ENVIRONMENTAL SOLUTIONS LTD

2022-Q2 EPS reported -$0.49 revenue$82,987,000

Revenue of $44.7M; gross profit margin 14.0% (adjusted 18.9%); net loss $19.3M.
Adjusted EBITDA of -$9.4M; total liquidity $31.0M with $19.7M cash.
CFO Geoffrey Krause retired July 27; entitled to termination payments.
General Counsel Charles Kraus terminated without cause; replacement Nandini Somayaji appointed.
Nandini Somayaji named SVP Talent, General Counsel and Corporate Secretary effective July 27.

item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Nandini Somayaji

Senior Vice President, Talent, General Counsel and Corporate Secretary

DRTTF · DIRTT ENVIRONMENTAL SOLUTIONS LTD

Effective: 2022-07-27
Filed: July 28, 2022, 7:59 PM ET

On July 24, 2022, the Company’s Board of Directors appointed Nandini Somayaji to serve as the Company’s Senior Vice President, Talent, General Counsel and Corporate Secretary, effective July 27, 2022.

Departed

Charles R. Kraus

Senior Vice President, General Counsel and Corporate Secretary

DRTTF · DIRTT ENVIRONMENTAL SOLUTIONS LTD

Effective: 2022-07-27
Successor: Nandini Somayaji
Filed: July 28, 2022, 7:59 PM ET

On July 27, 2022, Charles R. Kraus’s employment with the Company and his appointment as Senior Vice President, General Counsel and Corporate Secretary of the Company ceased pursuant to the without just cause termination provisions of Mr. Kraus’ Executive Employment Agreement with the Company.

Departed

Geoffrey D. Krause

Chief Financial Officer

DRTTF · DIRTT ENVIRONMENTAL SOLUTIONS LTD

Effective: 2022-07-27
Filed: July 28, 2022, 7:59 PM ET

On July 27, 2022, Geoffrey D. Krause announced, and the Board accepted, his retirement as Chief Financial Officer of the Company.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Nandini Somayaji was appointed as Senior Vice President, Talent, General Counsel and Corporate Secretary at DIRTT ENVIRONMENTAL SOLUTIONS LTD.

Action: appointed
Role: Senior Vice President, Talent, General Counsel and Corporate Secretary

Exact text from the filing

On July 24, 2022, the Company’s Board of Directors appointed Nandini Somayaji to serve as the Company’s Senior Vice President, Talent, General Counsel and Corporate Secretary, effective July 27, 2022.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Charles R. Kraus departed as Senior Vice President, General Counsel and Corporate Secretary at DIRTT ENVIRONMENTAL SOLUTIONS LTD.

Action: ceased
Role: Senior Vice President, General Counsel and Corporate Secretary

Exact text from the filing

On July 27, 2022, Charles R. Kraus’s employment with the Company and his appointment as Senior Vice President, General Counsel and Corporate Secretary of the Company ceased pursuant to the without just cause termination provisions of Mr. Kraus’ Executive Employment Agreement with the Company.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Geoffrey D. Krause retired as Chief Financial Officer at DIRTT ENVIRONMENTAL SOLUTIONS LTD.

Action: retired
Role: Chief Financial Officer

Exact text from the filing

On July 27, 2022, Geoffrey D. Krause announced, and the Board accepted, his retirement as Chief Financial Officer of the Company.

View on SEC.gov

DIRTT ENVIRONMENTAL SOLUTIONS LTD filing history →

Source: SEC EDGAR

accession 0001193125-22-203784

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