DIRTT Environmental Solutions Ltd.
Financial Statements (IFRS) · Amounts in CAD
Income Statement
Balance Sheet
Cash Flow
| Line Item | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 |
|---|---|---|---|---|
| Total Revenue | 174.3M | 181.9M | 172.2M | 147.6M |
| Operating Revenue | 174.3M | 181.9M | 172.2M | 147.6M |
| Cost Of Revenue | 109.9M | 122.4M | 144.0M | 124.1M |
| Gross Profit | 64.4M | 59.5M | 28.2M | 23.5M |
| Selling General And Administration | 45.8M | 49.2M | 56.7M | 66.3M |
| General And Administrative Expense | 22.9M | 24.0M | 29.7M | 35.3M |
| Research And Development | 5.3M | 5.8M | 7.6M | 8.2M |
| Other Operating Expenses | 7.4M | 9.1M | 1.7M | -2.1M |
| Operating Expense | 58.5M | 64.1M | 66.0M | 72.5M |
| Operating Income | 5.9M | -4.6M | -37.8M | -49.0M |
| EBIT | 19.2M | -9.3M | -49.8M | -50.7M |
| Interest Expense | 4.0M | 4.9M | 5.2M | 3.1M |
| Interest Expense Non Operating | 4.0M | 4.9M | 5.2M | 3.1M |
| Interest Income | 1.6M | 490,000 | 51,000 | 77,000 |
| Interest Income Non Operating | 1.6M | 490,000 | 51,000 | 77,000 |
| Net Interest Income | -2.4M | -4.4M | -5.1M | -3.1M |
| Other Income Expense | 11.8M | -5.2M | -12.0M | -1.8M |
| Special Income Charges | 8.8M | -4.6M | -13.5M | -1.4M |
| Restructuring And Mergern Acquisition | 1.1M | 3.0M | 13.5M | 0.00 |
| Gain On Sale Of Security | 3.0M | -626,000 | 1.4M | -335,000 |
| Pretax Income | 15.2M | -14.3M | -54.9M | -53.9M |
| Tax Provision | 448,000 | 332,000 | 21,000 | -204,000 |
| Tax Effect Of Unusual Items | 340,953 | -2.1M | 0.00 | -6,733 |
| Net Income From Continuing And Discontinued Operation | 14.8M | -14.6M | -55.0M | -53.7M |
| Net Income From Continuing Operation Net Minority Interest | 14.8M | -14.6M | -55.0M | -53.7M |
| Net Income Including Noncontrolling Interests | 14.8M | -14.6M | -55.0M | -53.7M |
| Net Income Common Stockholders | 14.8M | -14.6M | -55.0M | -53.7M |
| Net Income | 14.8M | -14.6M | -55.0M | -53.7M |
| EBITDA | 25.8M | -391,000 | -34.7M | -36.2M |
| Normalized EBITDA | 14.0M | 4.8M | -22.6M | -34.5M |
| Reconciled Depreciation | 6.6M | 8.9M | 15.1M | 14.5M |
| Basic EPS | 0.08 | -0.13 | -0.55 | -0.55 |
| Diluted EPS | 0.07 | -0.13 | -0.55 | -0.55 |
| Basic Average Shares | 190.5M | 116.1M | 99.8M | 96.8M |
| Diluted Average Shares | 240.2M | 116.1M | 99.8M | 96.8M |
| Total Unusual Items | 11.8M | -5.2M | -12.0M | -1.8M |
| Total Unusual Items Excluding Goodwill | 11.8M | -5.2M | -12.0M | -1.8M |
| Tax Rate For Calcs | 0.03 | 0.40 | 0.00 | 0.00 |
| Normalized Income | 3.4M | -11.5M | -42.9M | -51.9M |
| Diluted NI Availto Com Stockholders | 14.8M | -14.6M | -55.0M | -53.7M |
| Gain On Sale Of Ppe | 0.00 | 7.1M | 0.00 | 0.00 |
| Impairment Of Capital Assets | 530,000 | 8.7M | 0.00 | 1.4M |
| Net Income Continuous Operations | 14.8M | -14.6M | -55.0M | -53.7M |
| Net Non Operating Interest Income Expense | -2.4M | -4.4M | -5.1M | -3.1M |
| Other Gand A | 19.9M | 21.7M | 25.5M | 30.6M |
| Other Special Charges | -10.4M | -- | -- | -- |
| Reconciled Cost Of Revenue | 109.9M | 122.4M | 144.0M | 124.1M |
| Salaries And Wages | 3.0M | 2.3M | 4.3M | 4.7M |
| Selling And Marketing Expense | 22.9M | 25.2M | 26.9M | 31.0M |
| Total Expenses | 168.4M | 186.5M | 210.0M | 196.6M |
| Total Operating Income As Reported | 4.2M | -16.6M | -59.0M | -61.9M |
| Line Item | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 |
|---|---|---|---|---|
| Cash And Cash Equivalents | 29.3M | 24.7M | 10.8M | 60.3M |
| Cash Cash Equivalents And Short Term Investments | 29.3M | 24.7M | 10.8M | 60.3M |
| Accounts Receivable | 19.5M | 15.8M | 13.9M | 14.1M |
| Receivables | 19.9M | 16.3M | 21.8M | 17.5M |
| Inventory | 15.1M | 16.6M | 22.3M | 18.5M |
| Prepaid Assets | -- | -- | -- | 4.4M |
| Other Current Assets | 2.6M | 4.0M | 3.8M | 4.4M |
| Current Assets | 67.2M | 63.5M | 62.1M | 103.8M |
| Gross PPE | 157.8M | 170.0M | 181.4M | 191.8M |
| Accumulated Depreciation | -112.2M | -115.1M | -109.4M | -109.2M |
| Net PPE | 45.6M | 54.9M | 72.0M | 82.6M |
| Goodwill | -- | -- | -- | 0.00 |
| Goodwill And Other Intangible Assets | 2.5M | 2.5M | 4.4M | 7.4M |
| Other Intangible Assets | 2.5M | 2.5M | 4.4M | 7.4M |
| Other Non Current Assets | 2.9M | 3.5M | 5.1M | 5.7M |
| Total Non Current Assets | 51.1M | 60.8M | 81.5M | 95.6M |
| Total Assets | 118.2M | 124.3M | 143.7M | 199.4M |
| Current Debt | 281,000 | 762,000 | 745,000 | 937,000 |
| Current Debt And Capital Lease Obligation | 6.3M | 6.3M | 9.3M | 9.5M |
| Accounts Payable | 11.2M | 12.4M | 8.9M | 7.8M |
| Payables | 12.8M | 14.4M | 12.4M | 12.1M |
| Payables And Accrued Expenses | 16.4M | 20.2M | 19.9M | 22.8M |
| Current Accrued Expenses | 3.6M | 5.8M | 7.5M | 10.7M |
| Current Deferred Revenue | 4.0M | 5.3M | 4.9M | 2.4M |
| Other Current Liabilities | -- | 184,000 | 139,000 | -- |
| Current Liabilities | 29.6M | 33.7M | 36.0M | 37.1M |
| Long Term Debt | 21.7M | 54.9M | 52.9M | 55.8M |
| Long Term Debt And Capital Lease Obligation | 46.1M | 83.5M | 89.7M | 94.6M |
| Long Term Capital Lease Obligation | 24.4M | 28.6M | 36.8M | 38.8M |
| Total Non Current Liabilities Net Minority Interest | 46.1M | 83.5M | 89.7M | 94.6M |
| Total Liabilities Net Minority Interest | 75.6M | 117.2M | 125.7M | 131.7M |
| Common Stock | 219.0M | 196.1M | 191.3M | 181.8M |
| Capital Stock | 219.0M | 196.1M | 191.3M | 181.8M |
| Additional Paid In Capital | 8.2M | 8.0M | 9.0M | 13.2M |
| Retained Earnings | -166.1M | -180.9M | -166.3M | -111.3M |
| Gains Losses Not Affecting Retained Earnings | -18.5M | -16.1M | -16.1M | -15.9M |
| Other Equity Adjustments | -18.5M | -16.1M | -16.1M | -15.9M |
| Common Stock Equity | 42.6M | 7.1M | 18.0M | 67.8M |
| Stockholders Equity | 42.6M | 7.1M | 18.0M | 67.8M |
| Total Equity Gross Minority Interest | 42.6M | 7.1M | 18.0M | 67.8M |
| Total Capitalization | 64.3M | 62.0M | 70.9M | 123.6M |
| Net Tangible Assets | 40.0M | 4.7M | 13.6M | 60.4M |
| Tangible Book Value | 40.0M | 4.7M | 13.6M | 60.4M |
| Working Capital | 37.6M | 29.8M | 26.1M | 66.7M |
| Invested Capital | 64.6M | 62.7M | 71.6M | 124.5M |
| Total Debt | 52.3M | 89.7M | 99.0M | 104.1M |
| Net Debt | -- | 30.9M | 42.8M | 10.3M |
| Share Issued | 193.6M | 120.0M | 111.5M | 97.2M |
| Ordinary Shares Number | 193.6M | 120.0M | 111.5M | 97.2M |
| Allowance For Doubtful Accounts Receivable | -99,000 | -101,000 | -126,000 | -130,000 |
| Assets Held For Sale Current | 0.00 | 1.6M | 0.00 | -- |
| Capital Lease Obligations | 30.3M | 34.1M | 45.4M | 47.4M |
| Current Capital Lease Obligation | 6.0M | 5.5M | 8.6M | 8.6M |
| Current Deferred Liabilities | 6.1M | 6.4M | 5.5M | 3.2M |
| Current Provisions | 899,000 | 923,000 | 1.3M | 1.6M |
| Gross Accounts Receivable | 19.6M | 15.9M | 14.1M | 14.2M |
| Income Tax Payable | 0.00 | 289,000 | 0.00 | -- |
| Inventories Adjustments Allowances | -863,000 | -1.7M | -1.2M | -646,000 |
| Leases | 36.8M | 38.3M | 39.8M | 47.6M |
| Line Of Credit | 0.00 | 0.00 | 0.00 | 0.00 |
| Machinery Furniture Equipment | 27.4M | 28.1M | 27.5M | 28.6M |
| Non Current Deferred Liabilities | -- | -- | -- | 0.00 |
| Non Current Deferred Taxes Liabilities | -- | -- | -- | 0.00 |
| Other Current Borrowings | 281,000 | 762,000 | 745,000 | 937,000 |
| Other Payable | 1.5M | 1.7M | 3.4M | 4.3M |
| Other Properties | 93.5M | 103.5M | 114.2M | 115.5M |
| Other Receivables | 416,000 | 484,000 | 7.9M | 87,000 |
| Properties | 0.00 | 0.00 | 0.00 | 0.00 |
| Raw Materials | 14.2M | 16.8M | 22.2M | 18.4M |
| Restricted Cash | 243,000 | 355,000 | 3.4M | 3.1M |
| Taxes Receivable | -- | -- | 291,000 | 3.4M |
| Total Tax Payable | 0.00 | 289,000 | 0.00 | -- |
| Treasury Shares Number | -- | 0.00 | -- | -- |
| Work In Process | 1.8M | 1.5M | 1.3M | 715,000 |
| Line Item | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 |
|---|---|---|---|---|
| Operating Cash Flow | 7.3M | 14.8M | -44.3M | -31.2M |
| Cash Flow From Continuing Operating Activities | 7.3M | 14.8M | -44.3M | -31.2M |
| Depreciation And Amortization | 6.6M | 8.9M | 15.1M | 14.5M |
| Depreciation Amortization Depletion | 6.6M | 8.9M | 15.1M | 14.5M |
| Stock Based Compensation | 3.0M | 2.3M | 3.3M | 4.2M |
| Deferred Tax | -- | 0.00 | 0.00 | -414,000 |
| Deferred Income Tax | -- | 0.00 | 0.00 | -414,000 |
| Change In Working Capital | -5.8M | 14.6M | -6.5M | 2.2M |
| Changes In Account Receivables | -4.0M | -1.8M | -179,000 | -2.1M |
| Change In Receivables | -3.9M | 5.6M | -4.6M | 1.5M |
| Change In Inventory | 447,000 | 6.0M | -4.7M | -2.4M |
| Change In Payables And Accrued Expense | -2.7M | 2.1M | 260,000 | 2.7M |
| Change In Payable | -- | -- | -- | 2.7M |
| Change In Other Working Capital | -- | -- | 2.5M | 601,000 |
| Change In Other Current Liabilities | -859,000 | 484,000 | 2.5M | 1.6M |
| Other Non Cash Items | 1.5M | 698,000 | 676,000 | 352,000 |
| Capital Expenditure | -3.2M | -3.4M | -4.5M | -14.6M |
| Purchase Of PPE | -1.4M | -1.2M | -2.4M | -11.8M |
| Net PPE Purchase And Sale | -1.4M | -1.2M | -2.2M | -11.8M |
| Investing Cash Flow | -1.9M | 7.7M | -4.0M | -14.1M |
| Cash Flow From Continuing Investing Activities | -1.9M | 7.7M | -4.0M | -14.1M |
| Issuance Of Debt | 0.00 | 0.00 | 647,000 | 64.9M |
| Repayment Of Debt | -21.5M | -11.6M | -2.5M | -1.8M |
| Net Issuance Payments Of Debt | -21.5M | -11.6M | -1.8M | 63.1M |
| Issuance Of Capital Stock | 21.3M | 0.00 | 2.0M | 0.00 |
| Repurchase Of Capital Stock | -39,000 | 0.00 | 0.00 | -- |
| Net Common Stock Issuance | 21.2M | 0.00 | 2.0M | 0.00 |
| Common Stock Payments | -39,000 | 0.00 | 0.00 | -- |
| Financing Cash Flow | -415,000 | -11.6M | -874,000 | 62.5M |
| Cash Flow From Continuing Financing Activities | -415,000 | -11.6M | -874,000 | 62.5M |
| Effect Of Exchange Rate Changes | -597,000 | -13,000 | -11,000 | 458,000 |
| Changes In Cash | 5.0M | 10.9M | -49.2M | 17.1M |
| Beginning Cash Position | 25.1M | 14.2M | 63.4M | 45.8M |
| End Cash Position | 29.5M | 25.1M | 14.2M | 63.4M |
| Free Cash Flow | 4.2M | 11.4M | -48.8M | -45.8M |
| Income Tax Paid Supplemental Data | 754,000 | -- | -- | -- |
| Interest Paid Supplemental Data | 2.9M | 4.0M | 4.4M | 1.5M |
| Asset Impairment Charge | 530,000 | 8.7M | 0.00 | 1.4M |
| Capital Expenditure Reported | -1.8M | -2.2M | -2.1M | -2.8M |
| Change In Account Payable | -- | -- | -- | 2.7M |
| Change In Accrued Expense | -- | -- | -- | 948,000 |
| Change In Interest Payable | -- | -- | -- | 948,000 |
| Change In Prepaid Assets | 1.2M | 474,000 | 129,000 | -1.1M |
| Common Stock Issuance | 21.3M | 0.00 | 2.0M | 0.00 |
| Gain Loss On Sale Of PPE | 0.00 | -7.1M | 0.00 | 12,000 |
| Long Term Debt Issuance | 0.00 | 0.00 | 647,000 | 64.9M |
| Long Term Debt Payments | -21.5M | -11.6M | -2.5M | -1.8M |
| Net Foreign Currency Exchange Gain Loss | -3.2M | 1.1M | -1.8M | 112,000 |
| Net Income From Continuing Operations | 14.8M | -14.6M | -55.0M | -53.7M |
| Net Intangibles Purchase And Sale | 249,000 | 11.1M | 263,000 | 461,000 |
| Net Long Term Debt Issuance | -21.5M | -11.6M | -1.8M | 63.1M |
| Net Other Financing Charges | -162,000 | -26,000 | -1.0M | -652,000 |
| Net Other Investing Changes | 1.0M | -398,000 | -443,000 | -496,000 |
| Operating Gains Losses | -13.2M | -5.9M | -1.9M | 124,000 |
| Proceeds From Stock Option Exercised | -- | -- | -- | 0.00 |
| Sale Of Intangibles | 249,000 | 11.1M | 263,000 | 461,000 |
| Sale Of PPE | 15,000 | 14,000 | 227,000 | 18,000 |