DIRTT Sees 4% Q4 Revenue Rise, 36.6% Gross Margin and Forecasts $194M–$209M in FY2026
DIRTT reported Q4 revenue of $50.9 million, up 4% year-over-year, with gross profit margin rising to 36.6% from 35.9% and adjusted EBITDA increasing to $6.2 million despite a $3.7 million net loss driven by $7.6 million of reorganization and impairment charges. The company held $32.1 million in total liquidity and issued FY2026 guidance of $194 million–$209 million in revenue with $26 million–$31 million in adjusted EBITDA.
1. Q4 Financial Results
DIRTT posted Q4 revenue of $50.9 million, a 4% increase from Q4 2024. Gross profit margin improved to 36.6% from 35.9%, and adjusted EBITDA rose to $6.2 million, while a net loss of $3.7 million reflected $7.6 million in reorganization and impairment charges.
2. Liquidity and Capital Structure
At quarter-end, DIRTT held $32.1 million in total liquidity, including $20.3 million in unrestricted cash and $11.8 million in undrawn ABL capacity. The company secured a letter of offer for up to CAD 15 million from BDC, receiving a first tranche of CAD 5.5 million.
3. Guidance and Strategic Initiatives
Management issued FY2026 guidance of $194 million–$209 million in revenue and $26 million–$31 million in adjusted EBITDA, excluding unforeseen tariff changes. Leadership highlighted transformation initiatives—such as DIRTT Construction Services and a stratified partner strategy—and recent commercial wins, including projects with Google and U-Haul, as drivers of long-term growth.