Business
BuildDirect Reports Second Quarter 2023 Financial Results
Delivered adjusted EBITDA of $1.06 million for Q2 2023; the Company has delivered six consecutive...
About this update from Builddirect.com Technologies Inc
[{"type":"text","content":"BuildDirect Reports Second Quarter 2023 Financial ResultsDelivered adjusted EBITDA of $1.06 million for Q2 2023; the Company has delivered six consecutive quarters of positive adjusted EBITDA.Delivered gross margins of 39.7% for Q2 2023, an increase of 470 bps year-over-year and 50 bps quarter-over-quarter.Pro revenue reaches $17.4 million for Q2 2023, which represents 88.8% of the Company's total revenue during the first quarter of 2023, an increase of 6.3% year-over-year.Company to host Second Quarter 2023 earnings conference call on Tuesday, August 29, 2023, at 10:00 AM (PDT) / 1:00 PM (EDT).BuildDirect reports in US dollars and in accordance with IFRS.Vancouver, British Columbia--(Newsfile Corp. - August 29, 2023) - BuildDirect.com Technologies Inc. (TSXV: BILD) (\"BuildDirect\" or the \"Company\") a leading omnichannel building material retailer, today announced its financial results for the Second Quarter 2023 (\"Q2 2023\").\"During Q2 2023, BuildDirect continued to produce strong financial results, as highlighted by our sixth consecutive quarter of positive adjusted EBITDA, which increased to $1.06 million for the three months ended June 30, 2023,\" said Shawn Wilson, CEO of BuildDirect.\"As part of our growth strategy, we continue to expand our e-commerce platform and scale our brick-and-mortar operations with a focus on serving Pro customers,\" continued Shawn Wilson. \"With the goal of driving profitability, we aim to maximize cost efficiencies by implementing additional operational initiatives, including insourcing our fulfillment operations in other locations and integrating our technology infrastructure across all business units while minimizing disruption to productivity.\"Second Quarter 2023 Financial Results Conference CallBuildDirect will host a conference call to discuss the Company's financial results.Time: 10:00 AM (PDT) / 1:00 PM (EDT)Date: Tuesday, August 29, 2023Register: https://us02web.zoom.us/webinar/register/WN_0baK8etbQMOoT6bW9y2D9Q. The replay will be available approximately 24 hours after the completion of the conference call. In addition, an archived replay will be available on the Investor Relations section of the Company's website at https://ir.builddirect.com/events-and-presentations.Among other things, BuildDirect will discuss the long-term financial outlook on the conference call and related m...