---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-284777"
form_type: "8-K"
ticker: "DRTTF"
cik: "0001340476"
company_name: "DIRTT ENVIRONMENTAL SOLUTIONS LTD"
filed_at: "2022-11-14T23:59:59+00:00"
generated_at: "2026-06-21T19:42:55.997399+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-22-284777
- form_type: 8-K
- ticker: DRTTF
- cik: 0001340476
- company_name: DIRTT ENVIRONMENTAL SOLUTIONS LTD
- filed_at: 2022-11-14T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1340476/000119312522284777/0001193125-22-284777-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1340476/000119312522284777/d423722d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-284777
- JSON: https://secwatch.observer/filing/0001193125-22-284777.json
- Plain text: https://secwatch.observer/filing/0001193125-22-284777.txt

## Key facts
- Earnings Releases
  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
  source text: • 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1340476/000119312522284777/0001193125-22-284777-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.