DIRTT Q3 revenue $46.7M (+37% YoY), gross margin 15.0%; net loss improves; $3M private placement from major holders

DIRTT ENVIRONMENTAL SOLUTIONS LTD

2022-Q3 EPS reported -$0.57 revenue$129,734,000

Revenue rose 37% YoY to $46.7M; gross margin improved 780 bps to 15.0% (7.2% prior year).
Net loss improved 56% to $(6.7)M; Adjusted EBITDA improved 60% to $(5.4)M.
Total sales pipeline grew to $395M as of Oct 1, 2022 (+10% from July 1, 2022).
Private placement: up to 8.87M shares at higher of Nasdaq close or TSX VWAP; gross proceeds ~$3.0M.
Largest shareholders 22NW and 726 backstop any rights offering in next 12 months to minimum $2M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

DIRTT ENVIRONMENTAL SOLUTIONS LTD reported the quarter ended September 30, 2022 results: revenue $46.7 million, net income $(6.7) million.

Period: the quarter ended September 30, 2022
Revenue: $46.7 million
Net income: $(6.7) million
Result: reported results

Exact text from the filing

• Revenue rose 37% to $46.7 million for the quarter, compared to the prior year’s third quarter, and 5% compared to second quarter 2022. • Gross profit margin rose 780 bps to 15.0% for the quarter, compared to 7.2% in the prior year’s third quarter and 14% in the second quarter 2022 driven by improved demand, pricing and manufacturing costs. • Net loss improved to $(6.7) million by $8.7 million, or 56%, from the prior year’s third quarter and by $12.6 million, or 65%, from second quarter 2022.

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Source: SEC EDGAR

accession 0001193125-22-284777

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