Canada · Delayed Price · Currency is CAD BuildDirect.com Technologies Earnings Call Transcripts
Fiscal Year 2026
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Revenue rose 16% year-over-year to CAD 19.7 million in Q2 2026, driven by acquisitions, while same-store sales declined amid industry softness. Gross margin held at 39.2%, and Adjusted EBITDA turned positive. Integration of recent acquisitions is progressing well, supporting future growth.
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The meeting confirmed quorum, reviewed audited financials, and approved all motions, including director elections, auditor reappointment, and the amended equity incentive plan. Four directors were elected by acclamation and governance procedures were followed.
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The company is executing a roll-up strategy in the fragmented flooring industry, acquiring and integrating local businesses with a focus on capital efficiency and rapid payback. Operational synergies, disciplined deal sourcing, and a scalable platform underpin growth, with regional expansion prioritized in Florida and the Midwest.
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Q1 2026 saw revenue decline 3% year-over-year to CAD 14.6 million, but gross margin remained strong at 40.2% and operating cash flow was positive. Recent acquisitions, including TOA, are expected to drive future growth and margin expansion.
Fiscal Year 2025
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Revenue grew 1.1% to $66.2M with gross margin and adjusted EBITDA up significantly year-over-year. Liquidity improved after a $5.2M equity raise, and the company is focused on M&A and margin expansion amid ongoing macro headwinds.
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Q3 2025 saw 6.5% revenue growth, margin expansion, and 23% higher adjusted EBITDA, driven by strong ProCenter and e-commerce execution. Cash position improved to $8.8M after an equity raise, while disciplined M&A and working capital efficiency remain key priorities.
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Aiming to consolidate the fragmented $90B flooring market, the business targets 75 locations and $500M revenue by focusing on pro customers, organic growth, and strategic acquisitions. Operational efficiency, scalable platforms, and value-added services drive expansion.
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Q2 2025 saw 4.2% revenue growth to $16.9M, margin expansion to 39.9%, and a return to profitability. E-commerce and Pro Center segments both grew, with new acquisitions and a strong balance sheet supporting future expansion.
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The meeting confirmed quorum, approved audited financials, reappointed auditors, and elected four directors by acclamation. Strategic focus remains on M&A and expanding e-commerce and Pro Centers. No additional questions or comments were raised.
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Q1 2025 saw revenue of $15.1M and gross margin rise to 41.3%, with adjusted EBITDA at $650K. Expansion included a Florida acquisition and new Pro Center, while cost-cutting and a major supply agreement support future growth. Management increased share ownership, aligning interests.
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The flooring market remains highly fragmented and stable, with a focus on pro customers and inventory-driven acquisitions. Expansion leverages e-commerce as a market entry tool, with disciplined capital allocation and rapid payback targets for new locations. Recent acquisitions and operational improvements have positioned the business for scalable, profitable growth.
Fiscal Year 2024
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Q4 and full-year 2024 saw stable gross margins and improved cost efficiency despite a 9.4% revenue decline, with adjusted EBITDA of $2.2 million. Expansion continued via new proCenters and a key acquisition, while a new credit facility and cost savings support disciplined growth in 2025.
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Q3 2024 saw $17M in revenue, a 7.8% year-over-year decline but a 4.9% sequential increase, with gross margin at 38.3% and positive adjusted EBITDA. Strategic focus remains on expanding Pro Centers, enhancing e-commerce, and pursuing capital-efficient M&A.
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Q2 2024 revenue declined 15% year-over-year to $16.2M, but gross margin remained strong at 38.2% and Adjusted EBITDA stayed positive. Strategic e-commerce enhancements and cost reductions position the company for future growth, with optimism for a market rebound as interest rates fall.