DIRTT ENVIRONMENTAL SOLUTIONS LTD

Foreign Filer

DRTTFCIK 0001340476OTCNon-AcceleratedSmaller ReportingServices-Prepackaged SoftwareA0CAFY ends Dec 31

Period

FY 2025

Revenue

$168.85M

Net Income

$-14.45M

Total Assets

$102.50M

Equity

$28.54M

Shares Out

193.68M

Op. Cash Flow

$-192.0K

Business

DIRTT ENVIRONMENTAL SOLUTIONS LTD designs and manufactures adaptable, sustainable construction systems for workplaces, educational, and healthcare environments. It offers a portfolio of configurable products and tools, including solid, glass and combination walls, Leaf Folding Walls, headwalls, doors, casework, timber, modular electrical and network systems, access floors, ICE design and manufacturing software and ICEreality tools. Key business components include its DIRTT Construction Partner network, an Integrated Solutions go-to-market team, and in-house manufacturing operations. The company primarily serves North American clients through internal sales and an international partner network.

Summary from filing dated 2025-02-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenue	169	174	182	172	148
Total cost of sales	113	110	122	144	124
Gross profit	55	64	60	28	23
Sales and marketing	21	23	25	27	31
General and administrative	24	20	22	25	31
Operations support	8	7	8	9	9
Reorganization	5	1	3	13	0
Technology and development	5	5	6	8	8
Stock-based compensation	3	3	2	4	5
mpairment charge on lease facilities (refer Note 5)	3	530,000	9	0	—
Gain on disposal of lease	−858,000	0	0	—	—
Related party expense	0	0	2	0	0
Total operating expenses	67	60	76	87	85
Operating (loss) income	−11	4	−17	−59	−62
Interest income	941,000	2	490,000	51,000	77,000
Gain on extinguishment of convertible debt	24,000	10	0	0	—
Foreign exchange (loss) gain	−2	3	−626,000	1	−335,000
Interest expense	−2	−4	−5	−5	—
Government subsidies	0	0	236,000	8	11
Gain on sale of software and patents	0	0	7	0	0
Nonoperating Income (Expense)	−3	11	2	4	8
Net (loss) income before tax	−14	15	−14	−55	−54
Current and deferred income tax expense	507,000	448,000	332,000	21,000	210,000
Net (loss) income after tax	−14	15	−15	−55	−54
Net (loss) income per share - basic	−0.08	0.08	−0.13	−0.55	−0.55
Net (loss) income per share - diluted	−0.08	0.07	−0.13	−0.55	−0.55
Weighted average number of shares outstanding (basic)	191	191	116	99,826	96,826
Weighted average number of shares outstanding (diluted)	191	240	116	99,826	96,826

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2023 2023-09-30	FY 2022 2022-12-31
Cash and cash equivalents	20	29	25	—	11
Restricted cash	249,000	243,000	355,000	—	3
Trade and accrued receivables, net of expected credit losses of $0.1 million at December 31, 2025 and December 31, 2024	22	19	16	—	14
Other receivables	716,000	416,000	484,000	—	8
Inventory	16	15	17	—	22
Prepaids and other current assets	3	3	4	—	4
Total Current Assets	62	67	64	—	62
Property, plant and equipment, net	15	20	15	—	42
Net book value	3	3	2	—	4
Operating lease right-of-use assets, net	19	25	30	6	30
Other assets	3	3	3	—	5
Total Assets	103	118	124	—	144
Accounts payable and accrued liabilities	19	16	20	—	20
Other liabilities	5	3	2	—	2
Customer deposits and deferred revenue	4	4	5	—	5
Current portion of long-term debt and accrued interest	23	359,000	841,000	—	3
Current portion of lease liabilities	5	6	5	—	6
Total Current Liabilities	57	30	34	—	36
Long-term debt	220,000	22	55	—	62
Long-term lease liabilities	17	24	28	—	28
Total Liabilities	74	76	117	—	126
Common shares, unlimited authorized without par value, 191,912,548 issued and outstanding at December 31, 2025 and 193,605,237 issued and outstanding at December 31, 2024	215	219	196	—	191
Additional paid-in capital	11	8	8	—	9
Accumulated other comprehensive loss	−17	−19	−16	—	−16
Accumulated deficit	−181	−166	−181	—	−166
Total Shareholders Equity	29	43	7	—	18
Total Liabilities and Shareholders Equity	103	118	124	—	144

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net income (loss) for the period	−14	15	−15	−55	−54
Depreciation and amortization	6	7	9	15	15
Impairment charge on lease facilities	3	530,000	—	—	—
Stock-based compensation	3	3	2	3	4
Foreign exchange loss (gain)	2	−3	1	−2	112,000
Accretion of convertible debentures	338,000	1	698,000	676,000	352,000
Loss on disposal	160,000	422,000	153,000	−133,000	12,000
Trade and accrued receivables	−3	−4	−2	−179,000	−2
Other receivables	−292,000	113,000	7	−4	4
Inventory	−55,000	447,000	6	−5	−2
Prepaid and other assets, current and long term	−96,000	1	474,000	129,000	−1
Accounts payable and accrued liabilities	3	−3	2	260,000	3
Other liabilities	2	−12,000	−421,000	−109,000	−213,000
Customer deposits and deferred revenue	−543,000	−1	243,000	2	601,000
Current portion of long-term debt and accrued interest	−10,000	−437,000	−40,000	−149,000	948,000
Lease liabilities	−2	830,000	702,000	231,000	283,000
Net cash flows (used in) provided by operating activities	−192,000	7	15	−44	−31
Purchase of property, plant and equipment, net of accounts payable changes	−2	−1	−1	−2	−12
Capitalized software development expenditures	−2	−2	−2	−2	−2
Other asset expenditures	−833,000	−153,000	−398,000	−443,000	—
Recovery of software development expenditures	372,000	249,000	127,000	263,000	461,000
Proceeds on sale of property, plant, and equipment	0	15,000	14,000	227,000	—
Proceeds on sale of assets held for sale	0	1	0	0	—
Proceeds on sale of software and patents	0	0	11	0	0
Net cash flows (used in) provided by investing activities	−4	−2	8	−4	−14
Common share repurchase	−4	−39,000	0	0	—
Repayment of long-term debt	−395,000	−21	−12	−2	−2
Net proceeds received from Rights Offering	0	21	0	0	—
Employee tax payments on vesting of RSUs	−198,000	−162,000	−26,000	−1	−652,000
Net cash flows (used in) financing activities	−5	−415,000	−12	−874,000	62
Effect of foreign exchange on cash, cash equivalents and restricted cash	−60,000	−597,000	−13,000	−11,000	458,000
Net increase (decrease) in cash, cash equivalents and restricted cash	−9	4	11	−49	18
Interest paid	−1	−3	−4	−4	−2
Income taxes paid	−242,000	−754,000	4,000	3	433,000

Filings

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Frequently asked questions

What is DIRTT ENVIRONMENTAL SOLUTIONS LTD's CIK number?

DIRTT ENVIRONMENTAL SOLUTIONS LTD's SEC CIK number is 0001340476 (1340476). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find DIRTT ENVIRONMENTAL SOLUTIONS LTD's SEC filings?

All of DIRTT ENVIRONMENTAL SOLUTIONS LTD's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

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