DIRTT ENVIRONMENTAL SOLUTIONS LTD (DRTTF) Form 10-Q — Nov 4, 2026
DIRTT reported Q3 2026 revenue of $44.7 million, up 19% year over year, with gross margin improving to 35.1% from 30.4% and Adjusted EBITDA jumping to $6.5 million (14.6% margin) from $1.2 million (3.1%), as tariff costs fell to $0.3 million from $1.9 million. Net income after tax was $17.1 million ($0.09 per share) versus a $3.5 million loss a year ago, but roughly $13.1 million of that came from a non-cash deferred tax asset recognition tied to sustained profitability, not core operations. Operating income of $4.4 million was the more representative operating result, flipping from a $3.7 million loss.
Key figures
- Eps
- 0.09
- Revenue
- 44732000
- Net Income
- 17120000
- Total Debt
- 20620000
- Total Assets
- 109051000
- Cash Position
- 19259000
- Ytd revenue
- $127.5M, +8% YoY
- Q3 gross profit
- $15.7M (35.1% margin vs 30.4%)
- Tariff costs q3
- $0.3M vs $1.9M prior year
- Q3 adjusted ebitda
- $6.5M (14.6% margin) vs $1.2M (3.1%)
- Bdc loan outstanding
- $9.8M (C$15M commitment, matures April 30, 2032, 5.8%)
- Construction partners
- 59 vs 69 a year ago
- Twelve month pipeline
- $290.3M, down 13% YoY
- Rbc facility available
- C$12.0M ($8.4M) undrawn
- Deferred tax asset recognition
- 13100000
- December debentures outstanding
- C$14.8M ($10.4M) due December 31, 2026
AI analysis
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