Dirtt Environmental Solutions Ltd · TSX:DRT

Dirtt Environmental Solutions — Q2 2023 Earnings Presentation

13 slides from Dirtt Environmental Solutions's earnings presentation, Aug 2, 2023

  1. Slide 1: Second Quarter 2023 Supplemental Information

    SECOND QUARTER 2023 SUPPLEMENTAL INFORMATION 2023 08 03 © DIRTT ALL RIGHTS RESERVED 1

  2. Slide 2: Advisory: Cautionary Statement Regarding Forward-Looking Statements

    ADVISORY CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS Certain statements contained in this presentation (this “presentation”) are “forward-looking statements” within the meaning of “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and Section

  3. Slide 3: Non-GAAP Financial Measures

    NON-GAAP FINANCIAL MEASURES Our consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). These GAAP financial statements include non-cash charges and other charges and benefits that we believe are unusual or

  4. Slide 4: Benjamin Urban, CEO

    BENJAMIN URBAN, CEO DIRTT is back “We have more work to do, however we have better line of sight to consistent profitability and growth with Q2 results proving that out. The excitement and energy at DIRTT is as high as it has been in a long time. ” Key Highlights: • Broadening our partner network an

  5. Slide 5: Brad Little, CFO

    BRAD LITTLE, CFO Financial condition is continuing to improve. “The rapid improvement in our financial condition is a direct outcome from the hard work from each of our teams in executing upon the pricing, cost reduction and cash initiatives over the past year." Key Financial Highlights: • Adjusted

  6. Slide 6: Gross Profit and Adjusted Gross Profit Margin

    Gross Profit and Adjusted Gross Profit Margin 1 Gross Profit Margin and Adjusted Gross Profit1 Margin Second Quarter 2023 Highlights: 40.0% • Price increases announced in late-2021 and mid-2022 have served 35.0% 36.2% 36.2% to offset the prolonged inflationary impacts on nearly all input costs, incl

  7. Slide 7: Operating Expenses Breakdown

    Operating Expenses Breakdown1 Second Quarter 2023 Operating Expense Summary: Quarterly Expense Breakdown • Reductions in Operating Costs across all categories as a $9,000 result of reorganization activities undertaken in 2022 and 2023. 2022 includes costs associated with the $7,777 $8,000 contested

  8. Slide 8: Adjusted EBITDA

    Adjusted EBITDA1 1 See Non-GAAP Financial Measures © DIRTT ALL RIGHTS RESERVED 8

  9. Slide 9: Net Income (Loss)

    Net Income (Loss) © DIRTT ALL RIGHTS RESERVED 9

  10. Slide 10: Liquidity and Additional Financial Highlights

    Liquidity and Additional Financial Highlights ($ thousands) June 30, 2023 December 31, 2022 Liquidity Cash and cash equivalents 18,864 10,821 • $18.9 million of cash and cash equivalents as of June 30, 2023 due to Restricted cash 2,980 3,418 improved operational performance, receipt of AWI proceeds,

  11. Slide 11: Summary of Consolidated Financial Results

    Summary of Consolidated Financial Results For the period ended June 30 Three months Six months ($ thousands, except per share amounts) 2023 2022 % Change 2023 2022 % Change Revenue 44,753 44,701 0% 81,461 82,987 (2%) Gross profit 14,557 6,276 132% 23,239 9,563 143% Gross profit margin 32.5% 14.0% 13

  12. Slide 12: Non-GAAP Financial Measures

    Non-GAAP Financial Measures The following tables present a reconciliation for the three and six months ended June 30, 2023 and June 30, 2022 of our non-GAAP measures to the most directly comparable GAAP measures, being Adjusted EBITDA to net income (loss) and Adjusted Gross Profit to gross profit. F

  13. Slide 13: © DIRTT ALL RIGHTS RESERVED

    © DIRTT ALL RIGHTS RESERVED 13

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