Reported Earnings • May 07
First quarter 2026 earnings released: US$0.017 loss per share (vs US$0.003 loss in 1Q 2025) First quarter 2026 results: US$0.017 loss per share (further deteriorated from US$0.003 loss in 1Q 2025). Revenue: US$42.4m (up 2.8% from 1Q 2025). Net loss: US$3.27m (loss widened 395% from 1Q 2025). Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 6.8% growth forecast for the Building industry in North America. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Duyuru • Apr 28
DIRTT Environmental Solutions Ltd. to Report Q1, 2026 Results on May 06, 2026 DIRTT Environmental Solutions Ltd. announced that they will report Q1, 2026 results After-Market on May 06, 2026 Reported Earnings • Feb 27
Full year 2025 earnings released: US$0.076 loss per share (vs US$0.078 profit in FY 2024) Full year 2025 results: US$0.076 loss per share (down from US$0.078 profit in FY 2024). Revenue: US$168.9m (down 3.1% from FY 2024). Net loss: US$14.4m (down 198% from profit in FY 2024). Over the last 3 years on average, earnings per share has increased by 108% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Duyuru • Feb 26
DIRTT Environmental Solutions Ltd. Provides Earnings Guidance for the Year 2026 DIRTT Environmental Solutions Ltd. provided earnings guidance for the year 2026. For the year, the company expects revenue between $194.0 and $209.0 million. Duyuru • Feb 24
DIRTT Environmental Solutions Ltd., Annual General Meeting, May 07, 2026 DIRTT Environmental Solutions Ltd., Annual General Meeting, May 07, 2026. Duyuru • Jan 13
Dirtt Environmental Solutions Announces Executive Changes, Effective January 12, 2026 DIRTT Environmental Solutions announced two updates to its executive leadership team. Rich Hunter, President and Chief Operating Officer, has departed from the Company effective January 12, 2026. Rich Hunter joined DIRTT at a pivotal moment and was instrumental in the turnaround of manufacturing processes, including significant safety improvements and reduction of defects. DIRTT Environmental Solutions has welcomed Aaron Merkin to the executive leadership team in a newly created Chief Technology Officer role, effective January 12, 2026. Merkin brings extensive technology leadership experience spanning private equity-backed ventures to Fortune 500 corporations. Merkin was most recently Chief Technology Officer at Fortive, a global industrial technology leader, and has worked at companies including IBM, Dell, and Honeywell. Duyuru • Nov 27
DIRTT Environmental Solutions Ltd. Appoints Scott Robinson as Executive Chairman of the Board and Adrian Zarate as Chief Transformation Officer, Effective November 26, 2025 DIRTT Environmental Solutions Ltd. announced two strategic short-term appointments to accelerate the Company’s transformation strategy. Scott Robinson has been appointed Executive Chairman of the Board and Adrian Zarate has been appointed Chief Transformation Officer, each effective November 26, 2025. Mr. Robinson has served on the Board of Directors since April 2022 and was appointed as Chairman of the Board in June 2024. In his new role as Executive Chairman, Mr. Robinson will coordinate the execution of the strategic plan established by the Board and executive team, execute on business and operational transformation initiatives and oversee the work of the newly appointed Chief Transformation Officer. In connection with this appointment, the Board has appointed Holly Hess Groos as Lead Independent Director. Mr. Zarate, who has served on DIRTT’s Board of Directors since July 2025 as the director nominee of 22NW Fund, LP (22NW), will remain on the Board and will step down from the Corporate Governance and Compensation Committee. He will also resign from his employment at 22NW effective immediately. Shally Pannikode, an independent member of the Board, will be appointed to the Corporate Governance and Compensation Committee. As Chief Transformation Officer, Mr. Zarate will collaborate with Mr. Robinson and the Company's executive team to implement financial aspects of the Company’s transformation plan. In connection with his appointment as Chief Transformation Officer, Mr. Zarate entered into an employment agreement with the Company for an initial term ending on June 30, 2026. Duyuru • Nov 07
DIRTT Environmental Solutions Ltd. Provides Earnings Guidance for the Fourth Quarter of 2025 DIRTT Environmental Solutions Ltd. provided earnings guidance for the fourth quarter of 2025. For the period, Company expects revenue between $48.0 million and $52.0 million. Reported Earnings • Nov 07
Third quarter 2025 earnings released: US$0.018 loss per share (vs US$0.037 profit in 3Q 2024) Third quarter 2025 results: US$0.018 loss per share (down from US$0.037 profit in 3Q 2024). Revenue: US$37.7m (down 13% from 3Q 2024). Net loss: US$3.48m (down 149% from profit in 3Q 2024). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Building industry in North America. Over the last 3 years on average, earnings per share has increased by 119% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Duyuru • Oct 29
DIRTT Environmental Solutions Ltd. to Report Q3, 2025 Results on Nov 05, 2025 DIRTT Environmental Solutions Ltd. announced that they will report Q3, 2025 results After-Market on Nov 05, 2025 Duyuru • Jul 31
DIRTT Environmental Solutions Ltd. Appoints Adrian Zarate to the Board of Directors, Effective July 30, 2025 DIRTT Environmental Solutions Ltd. announced that Mr. Adrian Zarate has been appointed to the Company’s Board of Directors effective July 30, 2025. Mr. Zarate will be the nominee director for 22NW Fund, LP (“22NW”), DIRTT’s largest shareholder, pursuant to the Support and Standstill Agreement among DIRTT, 22NW and WWT Opportunity #1 LLC dated August 2, 2024. Mr. Zarate is a capital structure analyst at 22NW, LP, where he focuses on investments across a range of industry verticals. Mr. Zarate previously worked as an investment banker at Greenhill & Co., LLC and as a credit investor at Nuveen (TIAA-CREF). Mr. Zarate holds a BA in Economics from Columbia University and an MBA in Finance from The Wharton School. Duyuru • Jul 23
DIRTT Environmental Solutions Ltd. to Report Q2, 2025 Results on Jul 30, 2025 DIRTT Environmental Solutions Ltd. announced that they will report Q2, 2025 results at 4:00 PM, Eastern Standard Time on Jul 30, 2025 Duyuru • May 02
DIRTT Environmental Solutions Ltd. announced delayed annual 10-K filing On 05/01/2025, DIRTT Environmental Solutions Ltd. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Duyuru • Feb 27
DIRTT Environmental Solutions Ltd. Maintains Earnings Guidance for the Year 2025 DIRTT Environmental Solutions Ltd. maintained earnings guidance for the year 2025. For the year, the company expects Revenue in the range of $194 million to $209 million. Duyuru • Feb 25
DIRTT Environmental Solutions Ltd., Annual General Meeting, May 09, 2025 DIRTT Environmental Solutions Ltd., Annual General Meeting, May 09, 2025. Duyuru • Feb 18
DIRTT Environmental Solutions Ltd. to Report Q4, 2024 Results on Feb 26, 2025 DIRTT Environmental Solutions Ltd. announced that they will report Q4, 2024 results at 4:00 PM, US Eastern Standard Time on Feb 26, 2025 Duyuru • Nov 27
DIRTT Environmental Solutions Ltd. Announces Board and Committee Changes DIRTT Environmental Solutions Ltd. announced that Holly Hess Groos is joining the DIRTT Board of Directors effective November 26, 2024 and will also serve as the Chair of the Audit Committee. Effective November 26, 2024, Scott Robinson, current Board Chair and Audit Committee Chair, will step down from his role as Audit Committee Chair. Ms. Groos is a senior financial executive. She retired from Verizon after a 30-year tenure in various leadership roles, including CFO of Verizon Wireless, Head of Internal Audit, SVP Business Excellence, Operational Excellence and Treasurer of Verizon. Ms. Groos earned a Bachelor of Science (Business Administration /Accounting) from Miami University. She is a Certified Public Accountant from the State of Ohio, a Lean Six Sigma Blackbelt and a member of AICPA. Duyuru • Oct 23
DIRTT Environmental Solutions Ltd. to Report Q3, 2024 Results on Nov 06, 2024 DIRTT Environmental Solutions Ltd. announced that they will report Q3, 2024 results After-Market on Nov 06, 2024 Duyuru • Sep 12
DIRTT Environmental Solutions Ltd. Promotes Richard Hunter as President On September 11, 2024, the board of directors of DIRTT Environmental Solutions Ltd. appointed Richard Hunter to serve as President, effective immediately. Mr. Hunter, 63, has served as the Company’s Chief Operating Officer since August of 2022 and will continue in that position alongside his new responsibilities. As President, he will focus on defining the Company’s corporate strategy, leading technology and furthering innovation. As the Company’s Chief Operating Officer, Mr. Hunter has had a significant impact on DIRTT during this time. Mr. Hunter has driven operational efficiencies that have improved gross margins, optimized procurement and improved manufacturing, delivery and quality. Mr. Hunter started his career at General Motors Corporation, spending 19 years in the automotive industry in a variety of roles, including Sales Manager and Plant Manager. He then worked for industrial based companies including Danaher, Crane, and Trinity Industries as General Manager, VP of Operations, Chief Manufacturing Officer, and President. Prior to DIRTT, Mr. Hunter was President and COO at Forterra. Mr. Hunter holds a Master of Business Administration from Purdue University, a Master of Science degree in Manufacturing Management from Kettering University (formerly General Motors Institute), and a Bachelor of Science degree in Mechanical Engineering from Michigan State University. This newly created executive leadership role reflects the company’s continued focus on growth and excellence in manufacturing. Duyuru • Aug 07
DIRTT Environmental Solutions Ltd. Unveils Major ICE® Software Update, Transforming User Experience and Project Management DIRTT Environmental Solutions Ltd. announced the release of ICE Manager, the most significant update to its software platform to date. This software update introduces two key components: the new ICE Manager and the Design Editor application, both developed to revolutionize user engagement with the ICE platform. These advancements streamline the update process and enable continuous value delivery, positioning DIRTT's partners and clients at the forefront of industrialized construction technology. Key Features of ICE Manager: Seamless Updates: ICE Manager automates updates, eliminating the need for manual downloads and installations, ensuring uninterrupted workflows; Enhanced Project Management: Users can manage multiple versions of ICE, offering greater flexibility and control over project timelines; and Frequent Value Releases: The system supports smaller, more frequent updates, allowing DIRTT to deliver new products, features, and enhancements as soon as they are ready. Duyuru • Jul 25
DIRTT Environmental Solutions Ltd. to Report Q2, 2024 Results on Aug 07, 2024 DIRTT Environmental Solutions Ltd. announced that they will report Q2, 2024 results at 4:00 PM, US Eastern Standard Time on Aug 07, 2024 Duyuru • Jul 02
DIRTT Environmental Solutions Ltd. Announces Board of Directors Changes DIRTT Environmental Solutions Ltd. announced that its Board of Directors has elected Scott Robinson to serve as Board Chair. Mr. Robinson has served on the Board since 2022, as Chair of the Audit Committee and member of the Enterprise Risk Management Committee. He assumes the role previously held by Ken Sanders, who is retiring from the DIRTT Board effective June 30, 2024. Duyuru • Apr 23
DIRTT Environmental Solutions Ltd. to Report Q1, 2024 Results on May 08, 2024 DIRTT Environmental Solutions Ltd. announced that they will report Q1, 2024 results After-Market on May 08, 2024 Duyuru • Feb 28
DIRTT Environmental Solutions Ltd., Annual General Meeting, May 09, 2024 DIRTT Environmental Solutions Ltd., Annual General Meeting, May 09, 2024. Duyuru • Feb 13
DIRTT Environmental Solutions Ltd. to Report Fiscal Year 2023 Results on Feb 21, 2024 DIRTT Environmental Solutions Ltd. announced that they will report fiscal year 2023 results After-Market on Feb 21, 2024 Duyuru • Nov 08
DIRTT Environmental Solutions Ltd. to Report Q3, 2023 Results on Nov 09, 2023 DIRTT Environmental Solutions Ltd. announced that they will report Q3, 2023 results After-Market on Nov 09, 2023 Recent Insider Transactions • Sep 22
Independent Director recently bought CA$62k worth of stock On the 19th of September, Shaun Noll bought around 105k shares on-market at roughly CA$0.59 per share. This transaction amounted to 9.2% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$218k more in shares than they have sold in the last 12 months. Duyuru • Sep 21
DIRTT Environmental Solutions Ltd. announced that it has received CAD 17.262885 million in funding from 22NW, LP DIRTT Environmental Solutions Ltd announced a private placement of 6% convertible unsecured subordinated debentures due 2026 for the gross proceeds of CAD 10,426,837 and 6.25% convertible unsecured subordinated debentures due 2026 for the gross proceeds of CAD 6,836,048 on September 19, 2023. The transaction included participation from returning investor 22NW Fund, LP, a fund managed by 22NW, LP. The debentures can be converted at the option of the investor at any time before certain specified dates into 7,314,885 shares. The investor would own 28,671,295 shares, being 25.7% of the issued and outstanding shares. New Risk • Aug 04
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 55% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (20% increase in shares outstanding). Market cap is less than US$100m (CA$65.8m market cap, or US$49.3m). Reported Earnings • Aug 04
Second quarter 2023 earnings released: EPS: US$0.02 (vs US$0.22 loss in 2Q 2022) Second quarter 2023 results: EPS: US$0.02 (up from US$0.22 loss in 2Q 2022). Revenue: US$44.8m (flat on 2Q 2022). Net income: US$2.21m (up US$21.5m from 2Q 2022). Profit margin: 4.9% (up from net loss in 2Q 2022). Revenue is forecast to grow 4.3% p.a. on average during the next 2 years, compared to a 4.1% growth forecast for the Building industry in North America. Over the last 3 years on average, earnings per share has fallen by 36% per year whereas the company’s share price has fallen by 32% per year. Duyuru • Jul 18
DIRTT Environmental Solutions Ltd. to Report Q2, 2023 Results on Aug 02, 2023 DIRTT Environmental Solutions Ltd. announced that they will report Q2, 2023 results After-Market on Aug 02, 2023 Duyuru • Jun 01
DIRTT Environmental Solutions Ltd. Announces Executive Changes DIRTT Environmental Solutions Ltd. announced the departure of Mark Greffen, DIRTT’s Chief Technology Officer. Mr. Greffen has played an integral role over his 18-year tenure at DIRTT, holding various key positions within software and technology. In 2019, he assumed the position of Senior Vice President, Software Development, and later that year took on the role of Chief Technology Officer. Throughout his tenure, Mr. Greffen has been at the forefront of driving technological innovation at DIRTT, leading the development and integration of software into the company's digital construction approach. His contributions have been instrumental in the development and implementation of DIRTT's ICE® software. After careful consideration, Mr. Greffen has decided to pursue new opportunities and prioritize spending more time with his family, leading to his departure from DIRTT effective June 8, 2023. Concurrently, James Mulawyshyn, a seasoned DIRTT veteran with 14 years of experience and currently serving as Vice President, Technology, will assume the position of Senior Vice President, Technology. Reported Earnings • May 10
First quarter 2023 earnings released: US$0.12 loss per share (vs US$0.27 loss in 1Q 2022) First quarter 2023 results: US$0.12 loss per share (improved from US$0.27 loss in 1Q 2022). Revenue: US$36.7m (down 4.1% from 1Q 2022). Net loss: US$11.4m (loss narrowed 50% from 1Q 2022). Revenue is forecast to grow 8.3% p.a. on average during the next 2 years, compared to a 4.5% growth forecast for the Building industry in North America. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 30% per year, which means it has not declined as severely as earnings. Reported Earnings • Feb 24
Full year 2022 earnings released: US$0.63 loss per share (vs US$0.63 loss in FY 2021) Full year 2022 results: US$0.63 loss per share. Revenue: US$172.2m (up 17% from FY 2021). Net loss: US$55.0m (loss widened 2.4% from FY 2021). Duyuru • Feb 14
DIRTT Environmental Solutions Ltd. to Report Q4, 2022 Results on Feb 22, 2023 DIRTT Environmental Solutions Ltd. announced that they will report Q4, 2022 results at 4:00 PM, US Eastern Standard Time on Feb 22, 2023 Board Change • Feb 10
No independent directors There are 8 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 8 new directors. No experienced directors. No highly experienced directors. No independent directors (8 non-independent directors). Director Scott Ryan is the most experienced director on the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Duyuru • Jan 28
DIRTT Announces Departure of Jeff Dopheide as Chief Revenue Officer DIRTT announced the departure of Jeff Dopheide as the Company’s Chief Revenue Officer. Mr. Urban will oversee the company’s commercial function as part of his role as CEO. He brings extensive interior construction and business development experience with him from his previous role at one of DIRTT’s largest Construction Partners. There, he helped grow and diversify the business, expand into new market areas, develop strategic distribution partnerships, and deliver innovative interiors for large global clients. Duyuru • Dec 02
DIRTT Environmental Solutions Ltd. announced that it has received $2.773584 million in funding from 726 BF LLC, 726 BC LLC, 22NW, LP and other investors On November 30, 2022, DIRTT Environmental Solutions Ltd. closed the transaction. The company has issued 8,667,449 common shares at a price of $0.32 per common share for gross proceeds for $2,773,583.68. 22NW Fund, LP subscribed to 1,562,500 shares in the transaction. 22NW, LP owns 17,456,665 shares, representing 17.9% of the issued and outstanding shares. Duyuru • Nov 15
DIRTT Environmental Solutions Ltd. announced that it expects to receive $3 million in funding from 726 BF LLC, 726 Bc LLC, 22NW, LP and other investors DIRTT Environmental Solutions Ltd. entered into irrevocable subscription agreements for up to 8,871,494 common shares for gross proceeds of approximately $3,000,000 on November 14, 2022. The transaction will include participation from 726 BF LLC, 726 Bc LLC, 22NW Fund, LP, a fund managed by returning investor 22NW, LP and all the directors and executive officers of the company. The subscription price for such common shares will be equal to the greater of the closing bid price of the common shares on the Nasdaq on November 14, 2022, and the volume weighted average trading price of the common shares on the TSX, converted to United States dollars based on the Bank of Canada daily exchange rate, for the five trading days immediately following the announcement, being November 15 to November 21. The transaction is subject to standard regulatory approvals, including the approval of the Toronto Stock Exchange. Duyuru • Nov 11
DIRTT Environmental Solutions Ltd. announced delayed 10-Q filing On 11/10/2022, DIRTT Environmental Solutions Ltd. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Duyuru • Nov 09
DIRTT Environmental Solutions Ltd. to Report Q3, 2022 Results on Nov 14, 2022 DIRTT Environmental Solutions Ltd. announced that they will report Q3, 2022 results at 4:00 PM, US Eastern Standard Time on Nov 14, 2022 Duyuru • Oct 21
DIRTT Environmental Solutions Ltd. Appoints Jeff Dopheide as Chief Revenue Officer DIRTT Environmental Solutions Ltd. announced Jeff Dopheide as its new Chief Revenue Officer, effective November 15, 2022. Jeff will lead sales and partner development efforts, driving exceptional experiences for DIRTT’s clients and collaborators. Jeff brings over 30 years of sales and distribution experience to DIRTT from large companies including North American Pipe Corporation, Certainteed Corporation, and Armstrong World Industries. In these roles, Jeff has worked extensively with owners, general contractors, architects, designers, and distributors. Most recently, Jeff provided consulting services focused on business strategy and sales excellence for several multi-national building products manufacturers. He has a long track record of working with channel partners to enhance the client experience. Jeff holds a Bachelor of Science degree in Industrial Management from Georgia Institute of Technology and is a Six Sigma Blackbelt. Duyuru • Oct 06
Co-Founder Geoff Gosling Returns to DIRTT Environmental Solutions Ltd DIRTT Environmental Solutions Ltd. welcomed Co-founder Geoff Gosling back to DIRTT. Gosling co-founded DIRTT in 2004 with the idea of an efficient, agile, and sustainable way to build interior spaces and went on to have immeasurable impact on DIRTT’s growth and success. Through a set of guiding principles, Gosling helped establish DIRTT as a unique construction system, differentiated from anything that came before it. Gosling created the original concept of an agile construction system that serves as the backbone for all DIRTT solutions. With the ability to adapt and repurpose DIRTT spaces, sustainability has been a core tenet of DIRTT’s value since inception. Gosling is the inventor behind most of product patents and some of most impactful innovations. Duyuru • Sep 15
DIRTT Environmental Solutions Receives Non-Compliance Letter from Nasdaq On September 7, 2022, DIRTT Environmental Solutions Ltd. (the Company") received a letter from Nasdaq Stock Market (Nasdaq") that the Company has not been in compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5450(a)(1) for a period of 30 consecutive business days. This notice has no immediate effect on the listing of the Company's stock on the Nasdaq Global Select Market. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company is provided a compliance period of 180 calendar days from the date of the Notice to regain compliance with the minimum closing bid price requirement. If the Company does not regain compliance during the compliance period, the Company may be afforded a second 180 calendar day period to regain compliance if the Company elects to transfer to the Nasdaq Capital Market. To qualify, the Company must meet the continued listing requirement for market value of publicly-held shares and all other initial listing standards for the Nasdaq Capital Market (with the exception of the bid price requirement) and notify Nasdaq of its intent to cure the deficiency. The Company can achieve compliance with the minimum bid price requirement if, during either compliance period, the closing bid price per share of the Company's common stock is at least $1.00 for a minimum of ten consecutive business days. The Company intends to monitor the closing bid price of its stock and assess potential actions to regain compliance. Duyuru • Aug 24
DIRTT Announces Temporary Suspension of Operations at Rock Hill, SC Facility DIRTT announced the suspension of operations at its manufacturing facility in Rock Hill, South Carolina. With sufficient capacity for current and expected production requirements at its facilities in Savannah, Georgia and Calgary, Alberta, the decision is part of the Company’s ongoing focus on realigning the organization, driving efficiency, and improving profitability. DIRTT will continue to assess its capacity requirements and will evaluate options to resume operations at the Rock Hill facility as volume demand continues to expand. Duyuru • Aug 19
DIRTT Announces Chief Financial Officer Changes DIRTT (or the ‘Company’) to welcome Brad Little as its new Chief Financial Officer, effective August 23, 2022. Working out of DIRTT’s headquarters in Calgary, Alberta, Brad will lead the finance team as DIRTT continues to realign the organization and actively reinvest to focus on their strengths, building agile environments designed to help their clients navigate change. Brad brings over 20 years of progressive experience in finance with companies including Black Mountain Sand, Cornerstone Building Brands, Willbros, Technip, and PricewaterhouseCoopers. In addition to leadership roles in publicly-traded companies, Brad has built deep knowledge of integrated manufacturing for construction through nearly 7 years with Cornerstone. With previous CFO experience, Brad is adept at ensuring financial strategy aligns with the broader goals of the business. DIRTT’s outgoing CFO, Geoffrey Krause, recently announced his intention to retire from the Company effective September 30, 2022. They thank Geoff for all his contributions to DIRTT over more than 4 years with the Company and for his support through this leadership transition. Duyuru • Aug 16
DIRTT Appoints Richard Hunter as its New Chief Operating Officer, Effective August 29, 2022 DIRTT (or the 'Company') announced that Richard Hunter as its new Chief Operating Officer, effective August 29, 2022. Based at DIRTT’s headquarters in Calgary, Alberta, Rich will lead manufacturing and operational efficiency to drive success for DIRTT’s clients and construction partners. Rich brings nearly 40 years of manufacturing leadership and experience to DIRTT following a tenured career with large manufacturing companies, including Forterra, Trinity Industries, Terex Corporation, Danaher Corporation, Delphi Corporation, and General Motors Corporation. Most recently, Rich provided consulting services focused on business transformation and growth. Rich holds an MBA in Operations and Strategic Planning from Purdue University, a Master of Science degree in Manufacturing Management from Kettering University (formerly General Motors Institute), and a Bachelor of Science degree in Mechanical Engineering from Michigan State University. Duyuru • Aug 06
DIRTT Environmental Solutions Ltd. Announces Resignation of Mary Garden from the Board of Directors DIRTT Environmental Solutions Ltd. announced that Mary Garden has provided her resignation from the Board of Directors, effective August 5, 2022. Following Ms. Garden’s departure, Scott Robinson will serve as Chair of the Audit Committee and Scott Ryan will serve as Chair of the Enterprise Risk Management Committee. Duyuru • Jul 30
DIRTT Environmental Solutions Ltd. Provides Revenue Guidance for the Full Year 2022 DIRTT Environmental Solutions Ltd. provided revenue guidance for the full year 2022. For the period, the company expects revenue to be between $175 million and $185 million, the midpoint of which represents an approximate 22% increase over 2021 revenue. Reported Earnings • Jul 28
Second quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2022 results: US$0.22 loss per share (down from US$0.12 loss in 2Q 2021). Revenue: US$44.7m (up 8.8% from 2Q 2021). Net loss: US$19.3m (loss widened 98% from 2Q 2021). Revenue exceeded analyst estimates by 3.5%. Earnings per share (EPS) missed analyst estimates by 7.3%. Over the next year, revenue is forecast to grow 22%, compared to a 13% growth forecast for the industry in Canada. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 56 percentage points per year, which is a significant difference in performance. Duyuru • Jul 08
DIRTT Environmental Solutions Ltd. to Report Q2, 2022 Results on Jul 27, 2022 DIRTT Environmental Solutions Ltd. announced that they will report Q2, 2022 results After-Market on Jul 27, 2022 Duyuru • Jun 05
DIRTT Environmental Solutions Ltd. Announces Management Changes DIRTT Environmental Solutions Ltd. announced On June 3, 2022, Jeffrey Calkins' employment with the Company and his appointment as Chief Operating Officer of the company ceased pursuant to the without just cause termination provisions of Mr. Calkins' Executive Employment Agreement with the company. On June 3, 2022, Jennifer Warawa's employment with the Company and her appointment as Senior Vice President & Chief Commercial Officer of the Company ceased pursuant to the without just cause termination provisions of Ms. Warawa's Executive Employment Agreement with the company. Duyuru • Jun 04
DIRTT Environmental Solutions Ltd. Announces Departure of Jeffrey Calkins as Interim Co-CEO DIRTT Environmental Solutions Ltd. announced the departure of Jeffrey Calkins as Interim Co-CEO. Reported Earnings • May 06
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: US$0.27 loss per share (down from US$0.15 loss in 1Q 2021). Revenue: US$38.3m (up 30% from 1Q 2021). Net loss: US$23.0m (loss widened 84% from 1Q 2021). Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) missed analyst estimates by 54%. Over the next year, revenue is forecast to grow 19%, compared to a 11% growth forecast for the industry in Canada. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 55 percentage points per year, which is a significant difference in performance. Duyuru • May 05
DIRTT Environmental Solutions Ltd. Appoints Jeffrey Metcalf as Interim CFO, Effective May 9, 2022 DIRTT Environmental Solutions Ltd. announced the appointment of Jeffrey Metcalf to interim CFO, effective May 9, 2022. Duyuru • Apr 28
22NW Fund Provides Information to Shareholders of DIRTT Environmental On April 26, 2022, 22NW Fund, LP issued a press release commenting on the results announced at DIRTT Environmental Solutions Ltd.'s 2022 annual and special meeting of shareholders held on April 26, 2022. 22NW Fund stated that the voting results indicate that shareholders have elected 22NW Fund's entire 7-member slate to the Company's Board of Directors. 22NW Fund added that the Company's new Board would include Aron English, Cory Mitchell, Ken Sanders, Douglas Edwards, Mary Garden, Scott Robinson, and Scott Ryan. Duyuru • Apr 27
DIRTT Environmental Solutions Ltd. Announces Executive Changes DIRTT Environmental Solutions Ltd. announced shareholders at its annual and special meeting of shareholders held on April 26, 2022 and elected Charlie Chiappone, Aron R. English, Cory J. Mitchell, Douglas A. Edwards, Mary Garden, Scott L. Robinson, Scott C. Ryan and Ken Sanders as Director. Duyuru • Mar 06
22NW Prevails Against Complaints by DIRTT’s Board On March 4, 2022, 22NW Fund, LP provided an update on its efforts to bring change to DIRTT Environmental Solutions Ltd. On November 16, 2021, 22NW, requisitioned a special meeting of the shareholders of the Company to remove 6 of the current members of the board of directors of the Company and replace them with 6 qualified individuals. 22NW fully intends to pursue all actions and reserves all rights with respect to the requisition. Further, it intends to continue to solicit shareholders for the election of its director candidates at the annual and special meeting, in an effort to reconstitute the Board. In addition, 22NW demanded that the Board discontinue its harmful actions and not pursue any additional delay tactics or unnecessary wasteful expenditures. Recent Insider Transactions • Mar 04
Key Executive recently bought CA$600k worth of stock On the 1st of March, Todd Lillibridge bought around 250k shares on-market at roughly CA$2.40 per share. This was the largest purchase by an insider in the last 3 months. This was Todd's only on-market trade for the last 12 months. Reported Earnings • Feb 26
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: US$0.63 loss per share (down from US$0.13 loss in FY 2020). Revenue: US$147.6m (down 14% from FY 2020). Net loss: US$53.7m (loss widened 375% from FY 2020). Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) also surpassed analyst estimates by 14%. Over the next year, revenue is forecast to grow 28%, compared to a 11% growth forecast for the industry in Canada. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance. Duyuru • Feb 24
DIRTT Environmental Solutions Ltd. Provides Revenue Guidance for the First Quarter of 2022 DIRTT Environmental Solutions Ltd. provides revenue guidance for the first quarter of 2022. For the quarter, the company expects revenue to be between $38 million and $42 million. Duyuru • Jan 16
Shaun Noll Provides Information to Shareholders of DIRTT Environmental On January 14, 2022, Shaun Noll announced that 726 BF LLC, Peter Briger, 726 BC LLC, Matthew Briger, and Shaun Noll each have granted their revocable proxy to Aron R. English, John Ferguson, Ryan Nebel, and Rebecca Van Derlaske to vote Shaun Noll’ common shares in favor of the director nominees proposed by 22NW Fund, LP and certain of its affiliates in that definitive proxy statement at DIRTT Environmental Solutions Ltd.’s annual shareholders meeting. Duyuru • Jan 07
22NW Fund Provides Update on Requisition of DIRTT Environmental Shareholder Meeting On January 6, 2021, 22NW Fund, LP provided an update on its requisition of a shareholders meeting of DIRTT Environmental Solutions Ltd. 22NW Fund stated that on December 9, 2021, it had submitted to the Company a term sheet for a settlement proposal related to the requisition. 22NW Fund stated that the proposal was not accepted by the Company’s board of directors, which offered no reasons for the rejection of the proposal nor did the Board offer a counter proposal to 22NW Fund. 22NW Fund added that rather than contacting 22NW Fund to discuss its concerns regarding the Company or attempting to settle with 22NW Fund, the Board and its Special Committee have instead filed a complaint with the Alberta Securities Commission against 22NW Fund alleges breaches of securities laws by 22NW Fund and potentially other institutional shareholders of the Company. 22NW Fund stated that it has delivered a response to the Complaint to the Alberta Securities Commission on December 16, 2021. In that response, 22NW Fund identified numerous facts refuting the Complaint. Duyuru • Dec 23
22NW Provides Update on DIRTT Shareholder Meeting Requisition On December 21, 2021, 22NW Fund, LP provided an update on its requisition for a meeting of shareholders of DIRTT Environmental Solutions Ltd. 22NW Fund stated that on December 9, 2021, it had submitted to the Company a term sheet for a settlement proposal under which Todd Lillibridge, Denise Karkkainen, and Steve Parry would retire from the Company’s board of directors to be replaced by Aron English, Ken Sanders, and Scott Robinson. 22NW Fund added that under the settlement proposal, 22NW Fund would agree to support the director nominees of the Board at the Company’s 2022 AGM. 22NW Fund stated that it was a condition of the proposal that it be accepted no later than December 15, 2021. 22NW Fund added that if the Company accepted the proposal, the requisition would be withdrawn. The Proposal was not accepted by the Board. 22NW Fund stated that the Company has responded to the requisition by attacking the business reputations of not only 22NW Fund but other Company shareholders as well. 22NW Fund added that calling the meeting for a date more than 5 months from the making of the requisition is a calculated affront to the substance and spirit of the requisition right under the Business Corporations Act (Alberta). 22NW Fund stated that as a shareholder with far more at stake than the Board in the Company’s success, 22NW Fund intends to preserve its rights in relation to the requisition and as a shareholder, which may include recourse to securities regulators and Alberta courts. Duyuru • Nov 24
22NW Fund Provides Information to the Shareholders On November 22, 2021, 22NW Fund, LP has requisitioned a shareholder meeting pursuant to the Business Corporations Act to remove 6 current directors of DIRTT Environmental Solutions Ltd. and replace them with 6 new directors. The resolutions to be voted upon by the shareholders of the Company at the Meeting, which were included in the requisition. In the requisition, 22NW has requested that the Meeting be held no later than January 21, 2022. 22NW has prepared and filed this circular in order that it may at this time have discussions with Canadian shareholders regarding its intention to solicit proxies to approve the director resolutions in compliance with the solicitation requirements under applicable Canadian corporate and securities laws. Reported Earnings • Nov 05
Third quarter 2021 earnings released: US$0.18 loss per share (vs US$0.025 loss in 3Q 2020) The company reported a poor third quarter result with increased losses, weaker revenues and weaker control over costs. Third quarter 2021 results: Revenue: US$34.1m (down 26% from 3Q 2020). Net loss: US$15.4m (loss widened US$13.3m from 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Aug 14
Insider recently bought CA$313k worth of stock On the 12th of August, Aron English bought around 65k shares on-market at roughly CA$4.81 per share. In the last 3 months, there was an even bigger purchase from another insider worth CA$324k. Insiders have collectively bought CA$679k more in shares than they have sold in the last 12 months. Reported Earnings • Aug 05
Second quarter 2021 earnings released: US$0.12 loss per share (vs US$0.003 profit in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2021 results: Revenue: US$41.1m (down 2.5% from 2Q 2020). Net loss: US$9.74m (down US$10.0m from profit in 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 95 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Jul 18
Insider recently bought CA$324k worth of stock On the 16th of July, Peter Briger bought around 60k shares on-market at roughly CA$5.43 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$396k more in shares than they have sold in the last 12 months. Recent Insider Transactions Derivative • Jun 24
Chief Financial Officer exercised options and sold CA$151k worth of stock On the 17th of June, Geoffrey Krause exercised options to acquire 34k shares at no cost and sold these for an average price of CA$4.49 per share. This trade did not impact their existing holding. Since March 2021, Geoffrey has owned 59.07k shares directly. Company insiders have collectively sold CA$677k more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • May 21
Senior VP recently sold CA$75k worth of stock On the 17th of May, Charles Kraus sold around 19k shares on-market at roughly CA$4.05 per share. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought CA$163k more than they sold in the last 12 months. Executive Departure • May 12
Independent Director has left the company On the 6th of May, Wayne Boulais' tenure as Independent Director ended after 6.0 years in the role. As of December 2020, Wayne personally held 75.00k shares (CA$233k worth at the time). A total of 3 executives have left over the last 12 months. Major Estimate Revision • May 12
Consensus EPS estimates fall to -US$0.32 The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from US$170.6m to US$155.4m. Losses expected to increase from -US$0.17 to -US$0.32. Building industry in Canada expected to see average net income growth of 28% next year. Consensus price target down from CA$3.12 to CA$3.00. Share price fell 8.5% to CA$3.89 over the past week. Reported Earnings • May 07
First quarter 2021 earnings released: US$0.15 loss per share (vs US$0.063 loss in 1Q 2020) The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2021 results: Revenue: US$29.5m (down 28% from 1Q 2020). Net loss: US$12.5m (loss widened 135% from 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Duyuru • Mar 02
DIRTT Environmental Solutions Ltd., Annual General Meeting, May 06, 2021 DIRTT Environmental Solutions Ltd., Annual General Meeting, May 06, 2021. 