Business
BuildDirect Announces Investor Webinar and Provides Corporate Update
BuildDirect Announces Investor Webinar and Provides Corporate Update Canada NewsWire ...
About this update from Builddirect.com Technologies Inc
[{"type":"text","content":"\n \n \n \n BuildDirect Announces Investor Webinar and Provides Corporate Update\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Jan. 17, 2023\n \n \n /CNW/ - BuildDirect.com Technologies Inc. (TSXV: BILD) (\"BuildDirect\" or the \"Company\"), a leading omnichannel building material retailer, is pleased to provide the following corporate update.\n \n \n \n \n \n \n \n \n \n \n BuildDirect Investor Webinar\n \n \n \n The Company will be hosting an investor webinar on\n \n Wednesday, January 18, 2023\n \n , at\n \n 1:00 PM (EST)\n \n to discuss BuildDirect's key business highlights and growth outlook for 2023.\n \n \n \n Webinar Details:\n \n \n \n \n Date & Time:\n \n Wednesday, January 18, 2023, at\n \n 1:00 PM (EST)\n \n \n \n Speakers:\n \n Shawn Wilson, CEO of BuildDirect and\n \n Matthew Alexander\n \n , Interim CFO of BuildDirect\n \n \n Click the link below to register for the webinar.\n \n \n \n https://us02web.zoom.us/webinar/register/WN_RNtQBAsGRVqCCJU-EkIrug\n \n \n \n \n \n Adjusted EBITDA and 'Pro' Customer Revenue Growth\n \n \n \n The Company achieved substantial EBITDA growth as highlighted by the Company's adjusted EBITDA of\n \n US$0.86M\n \n for the 9 months ending\n \n September 30, 2022\n \n , an increase of 211% as compared to the same period last year as a result of shifting its focus on the 'Pro' customer market. Additionally, the Company's Q3 2022 Pro revenue of\n \n US$19.4 million\n \n , which increased 5.6% quarter-over-quarter and 19.6% year-over-year, underscores BuildDirect's ongoing efforts to grow its Pro customer base (see the news release of the Company dated\n \n November 16, 2022\n \n ).\n \n \n \n Operating Cost Reductions\n \n \n \n As part of the Company's Pro-focused sales strategy, the Company has made cost reductions in the third quarter of 2022 by decreasing its marketing spend and fixed costs which are expected to reduce annualized operating expenses by\n \n US$2 million\n \n without affecting BuildDirect's Pro revenue growth (See the news relea...