Latest news with #ShawnWilson
Business Journals
30-05-2025
- Business
- Business Journals
Building together: How strategic partnerships strengthen housing solutions
In communities across the country, the need for housing continues to grow. No single developer, nonprofit, or public agency can meet this demand alone. Today's most effective housing solutions go beyond construction — they rely on collaboration to meet the various needs of the holistic population. At Ryan Companies, we've seen how strategic partnerships between private developers and mission-driven organizations lead to more inclusive, meaningful results. These partnerships combine capacity with local insight and help unlock opportunities that wouldn't be possible otherwise. Highland Bridge in Saint Paul, Minnesota, offers a strong example. This 122-acre redevelopment of a former Ford plant is evolving into a vibrant neighborhood that will include 3,800 residences, 20 percent of which are affordable. Achieving that level of affordability was possible only through intentional collaboration with affordable housing developers. These organizations brought deep experience in affordable housing finance and community engagement. Ryan provided complementary expertise, including site development, infrastructure delivery, financial modeling, and vertical construction. Together, the team pursued funding opportunities and built a shared vision focused on long-term community value. For larger firms like ours, working alongside an Affordable Housing Developer with local expertise brings more than project feasibility. It broadens our understanding, strengthens our approach, and deepens our commitment to community impact. Partnerships like these also support long-term affordability and integration, helping to ensure that housing is connected to schools, parks, jobs, and transit. These collaborations also benefit our peers. Shawn Wilson, founder and president of Blue Sky Communities, a Florida-based affordable housing developer, explains: 'Most affordable housing gets built as a one-off standalone property in a marginal (or even blighted) area. We want to move toward grander collaborations with cities and large developers where we can integrate our residents more fully into the surrounding neighborhood.' Blue Sky's work across Florida demonstrates the power of these relationships. The Adderley in Tampa, for example, delivers 128 affordable homes for families in a high-opportunity area. The project, backed by local and federal funding, addresses a critical housing gap while contributing to the revitalization of the surrounding neighborhood. Cross-sector partnerships like these open new avenues for investment and creativity. By combining funding sources, land access, design capabilities, and community knowledge, projects become more financially and socially sustainable. When each partner brings a specific strength to the table, the results are more impactful and better aligned with community needs. This model also helps address a frequent challenge in affordable housing: true integration. When developers and nonprofits collaborate from the start, it leads to thoughtful site planning, a higher standard of design, and better alignment with the surrounding community. For Ryan, seeking out partnerships is not just a business strategy but a reflection of our values. We are committed to working with community-based organizations and developers led by women and people of color. These relationships promote equity in both process and outcome, ensuring that new development reflects the diversity of the communities we serve. expand Ryan Companies photo As the conversation around affordability continues, the role of public-private-nonprofit collaboration is more important than ever. Whether through mixed-income developments, housing integrated with services, or neighborhoods planned with long-term affordability in mind, partnerships provide a more resilient foundation. The real estate industry has an opportunity to do more than produce housing units. Through thoughtful collaboration, we can help create places that are inclusive, stable, and full of opportunity — for everyone. Let's connect to discuss how Ryan can create lasting value for your business. Founded in 1938, Ryan Companies is a national real estate firm offering development, design, construction, capital markets and management services across sectors like health care, industrial, office and multifamily. With 1,700+ team members in 17 offices, Ryan delivers integrity-driven projects nationwide. Jon Paul Bacariza is the corporate leader of Ryan in the Florida office, providing direction to our development, design, construction, real estate management and capital markets teams throughout the region. Bacariza draws on strengths of leaders on his team while developing and executing a plan to source new opportunities and continue building Ryan's success throughout his region. He provides strategic vision in earning projects that best align with Ryan's expertise and future goals.
Yahoo
29-05-2025
- Business
- Yahoo
BuildDirect Reports First Quarter 2025 Financial Results
Delivered $0.65 million in adjusted EBITDA in Q1 2025, extending the Company's track record to 13 straight quarters of positive performance. Delivered gross margin of 41.3% in Q1 2025, an increase of 220 bps year-over-year. Working capital decreased by $0.2 million to $2.5 million at March 31, 2025 from $2.7 million at December 31, 2024. Opened a new Pro Center in California and completed the acquisition of key flooring assets in Florida to expand market reach in key U.S. regions. Company to host First Quarter 2025 financial results conference call on Friday, May 30, 2025 at 10:30 AM (PDT) / 1:30 PM (EDT). BuildDirect reports in US dollars and in accordance with IFRS Accounting Standards. Vancouver, British Columbia--(Newsfile Corp. - May 29, 2025) - Technologies Inc. (TSXV: BILD) ("BuildDirect" or the "Company") a leading omnichannel building material retailer, today announced its financial results for the First Quarter Ended March 31, 2025 ("Q1 2025"). "BuildDirect delivered solid financial performance in the first quarter of 2025, generating $0.65 million in adjusted EBITDA and marking our 13th consecutive quarter of positive results," said Shawn Wilson, CEO of BuildDirect. "Our gross margin of 41.3%, an increase of 220 basis points year-over-year, reflects our more efficient and higher margin core inventory profile across our businesses." Shawn added, "We also continued to execute on our strategic growth priorities by opening a new Pro Center in California and acquiring key flooring assets in Florida to expand our footprint in key U.S. regions with strong demand fundamentals. These actions support our long-term objective of driving sustainable, profitable growth and enhancing shareholder value." BuildDirect First Quarter 2025 Financial Results Conference Call Date: Friday, May 30, 2025Time: 10:30 AM (PDT) / 1:30 PM (EDT)Live Webinar: The replay will be available approximately 24 hours after the completion of the conference call. In addition, an archived replay will be available on the Investor Relations section of the Company's website at Among other things, the Company will discuss the long-term financial outlook on the conference call and related materials will be available on the Company's website at Investors should carefully review the factors, assumptions, risks, and uncertainties included in such related materials concerning such as the long-term financial outlook. First Quarter 2025 Financial Highlights A. Financial Position The following table summarizes the Company's financial position at March 31, 2025 and December 31, 2024. As at As atMarch 31, December 31, 2025 2024 Change Cash and cash equivalents $ 3,490,258$ 2,347,491$ 1,142,766Working capital (1)2,519,793 2,712,617 (192,824 ) Total assets26,736,784 27,752,963 (1,016,179 ) Total liabilities24,428,422 24,597,974 (169,552 ) Total shareholders' equity2,308,362 3,154,989 (846,627 ) Common shares outstanding42,040,123 42,032,706 7,417 B. Financial Results The following table summarizes the Company's selected financial results for the three months ended March 31, 2025 and 2024. Three months ended Three months endedMarch 31, March 31, 2025 2024 Change Revenue $ 15,088,846$ 15,589,852$ (501,006 ) Income (loss) from operations(155,299 )(316,981 )161,682Comprehensive income (loss)(885,905 )(589,324 )(296,581 ) Adjusted EBITDA (1)650,104 504,230 145,874Basic and diluted loss per share $ (0.02 ) $ (0.01 ) $ (0.01 ) C. Revenue and Gross Profit per Segment The Company reports results in two segments: (1) E-Commerce and (2) Pro Centers. We measure each reportable operating segment's performance based on revenue. The E-Commerce segment relates to our on-line platform while the Pro Center segment includes sales and installation revenue from bricks and mortar operations. The E-Commerce and Pro Center segments contributed 28% and 72% of the Company's revenue respectively in Q1 2025 compared to 27% and 73% of the Company's revenue, respectively, in Q1 2024. The following table summarizes Revenue and Gross Profit per Segment for the three months ended March 31, 2025, and 2024. Three months ended March 31, 2025 E-Commerce Pro Centers Total Revenue $ 4,221,406$ 10,867,440$ 15,088,846 Cost of goods sold2,032,088 6,832,086 8,864,174 Gross profit2,189,318 4,035,354 6,224,672 Gross profit %51.9% 37.1% 41.3%Three months ended March 31, 2024 E-Commerce Pro Centers Total Revenue $ 4,266,314$ 11,323,538$ 15,589,852 Cost of goods sold2,260,291 7,238,610 9,498,901 Gross profit2,006,023 4,084,928 6,090,951 Gross profit %47.0% 36.1% 39.1% D. Working Capital March 31, December 31, 2025 2024 Total current assets $ 16,556,019$ 16,910,668 Total current liabilities14,036,226 14,198,051 Working capital $ 2,519,793$ 2,712,617 E. Quarterly Financial Information USD Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 (Unaudited) Revenue 15,088,846 16,723,578 16,968,564 16,182,846 15,589,852 Gross Profit 6,224,672 6,562,882 6,503,404 6,184,756 6,090,951 Gross Margin % 41.3% 39.2% 38.3% 38.2% 39.1% Net Loss (885,905) 243,237 (384,414) (517,029) (589,324) Net Earnings (loss) p/s: Basic and diluted EPS (0.02) 0.01 (0.01) (0.01) (0.01) EBITDA(1) 345,803 396,232 711,775 573,376 486,772 Adjusted EBITDA(1) 650,104 376,331 786,410 578,326 504,230 Subsequent events to Q1 2025 On April 23, 2025, BuildDirect entered into a supply agreement valued at up to US$2 million with a North American customer in the sports, entertainment, and recreation sector to provide high-performance flooring products for use in active-use facilities. On May 9, 2025, BuildDirect completed a CAD$775,000 secured loan with its insider lender, Lyra Growth Partners Inc., with all proceeds used by the Company to fund loans ("Management Loans") to senior executives for the purpose of purchasing existing common shares in a private sale transaction with no new shares issued from treasury. 2025 Outlook As part of the Company's growth strategy, BuildDirect is actively pursuing a combination of new location builds and targeted strategic acquisitions that align with its operational and financial objectives. Looking forward, BuildDirect remains committed to strengthening its geographic footprint, deepening supplier relationships, and expanding service capabilities to better serve its growing base of professional customers. BuildDirect is also focused on driving EBITDA growth through operational improvements, working capital discipline, and the continued build-out of its commercial sales channel. With a strong foundation in place and a clear path forward, BuildDirect is well-positioned to scale efficiently and capture market share in both core and emerging regions. About BuildDirect BuildDirect (TSXV: BILD) is an expanding omnichannel building materials retailer, specializing in Pro Centers-strategic distribution hubs designed to serve professional contractors and trades. The Company is actively scaling its footprint through a combination of organic growth and strategic acquisitions, driving efficiency and market expansion. For more information, visit Forward-Looking Information: This press release contains statements which constitute "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"), including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking statements are often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions. These statements reflect management's current beliefs and expectations and are based on information currently available to management as at the date hereof. Forward-looking statements in this press release may include, without limitation, statements relating to BuildDirect being in a strong position to keep building; BuildDirect's ongoing pursuit of a model focused on growing the Pro Center network, creating operating leverage and staying disciplined on returns; the Company building or acquiring strong locations, expanding its commercial reach, and growing EBITDA through better execution; the Company's acceleration of growth through the exploration a combination of new location builds and targeted strategic acquisitions; the Company's expansion of its geographic footprint, deepening supplier relationships, and enhancing its service capabilities for professional customers; the Company's delivery of strong returns and capturing market share in both core and emerging regions; the Company's focus on driving EBITDA growth through improved operational efficiency and the continued development of its commercial sales channel; the Company being well-positioned to scale profitably while maintaining a high standard of customer service; and BuildDirect's unwavering commitment to pursue sustainable growth, operational excellence, and long-term value creation for its stakeholders. Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Among those factors are changes in consumer spending, inflation, availability of mortgage financing and consumer credit, changes in the housing market, changes in trade policies, tariffs or other applicable laws and regulations both locally and in foreign jurisdictions, availability and cost of goods from suppliers, fuel prices and other energy costs, interest rate and currency fluctuations, retention of key personnel and changes in general economic, business and political conditions and other factors referenced under the "Risks and Uncertainties" section of our MD&A. These forward-looking statements may be affected by risks and uncertainties in the business of the Company and general market conditions. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release reflect the Company's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and BuildDirect assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law. Reference is made in this press release to the following non-GAAP measures: Adjusted EBITDA and Working Capital. These non-GAAP measures are commonly used by investors and other interested parties to evaluate the Company's financial performance and are employed by the Company to measure its operating and economic performance and to assist in business decision-making. These non-GAAP measures do not have any standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other issuers. These measures are provided as additional information to complement those IFRS measures by providing further understanding of the results of operations from management's perspective. Accordingly, these measures should not be considered in isolation nor as a substitute for analysis of the financial information reported under IFRS. Refer also to appendix tables, "Q1 2025" of this press release as well as our Management's Discussion and Analysis for definitions and reconciliations of non-IFRS measures to the nearest IFRS measures. NON-IFRS MEASURES This announcement refers to certain non-IFRS measures. These measures are not recognized measures under IFRS, and do not have a standardized meaning prescribed by IFRS Accounting Standards and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS Accounting Standards measures by providing further understanding of our results of operations from management's perspective. Accordingly, these measures should not be considered in isolation nor as a substitute for analysis of our financial information reported under IFRS Accounting Standards. We use non-IFRS measures including "EBITDA" and "Adjusted EBITDA". Management uses these non-IFRS measures in order to facilitate operating performance comparisons from period to period, to prepare annual operating budgets and forecasts, and to determine components of management compensation. As required by Canadian securities laws, we reconcile these non-IFRS measures to the most comparable IFRS Accounting Standards measures in this announcement. See below regarding definitions and reconciliation of these non-IFRS measures to the relevant reported measures. We define EBITDA as net income or loss before interest, income taxes and amortization. Adjusted EBITDA removes fair value adjustment of convertible debt and warrants, fair value adjustment of inventory, restructuring expenses, non-recurring bad debt expense, foreign exchange gains and losses, and share-based compensation items from EBITDA. We are presenting these measures because we believe that our current and potential investors, and many analysts, use them to assess our current and future operating results and to make investment decisions. Management uses these measures in managing the business and making decisions. EBITDA and adjusted EBITDA are not intended as substitutes for IFRS measures. Three months ended Three months endedMarch 31, March 31, 2025 2024Total loss and comprehensive loss $ (885,905 ) $ (589,324 ) Add: Interest Expense, Net342,170 307,760Income Tax Expense119,000 67,500Depreciation and amortization770,538 700,836EBITDA345,803 486,772EBITDA - % (1)2.3% 3.1% Add (deduct): Stock-based compensation34,865 64,180Change in fair value of warrants130,569 (3,039 ) Foreign exchange (gain) loss18,853 (43,683 ) Restructuring costs120,014 - - -Adjusted EBITDA $ 650,104$ 504,230Adjusted EBITDA - % (2)4.3% 3.2% (1) EBITDA % is a ratio of EBITDA divided by Total Revenue(2) Adjusted EBITDA % is a ratio of Adjusted EBITDA divided by Total Revenue Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. For further information:Shawn Wilson, CEOshawnwilson@ BuildDirect Investor Relationsir@ Condensed Consolidated Interim Statements of Financial Position(Unaudited)(Expressed in United States dollars)As at March 31, 2025 As at December 31, 2024 Assets Current assets: Cash and cash equivalents $ 3,490,258 $ 2,347,491 Short-term investments 200,000 445,415 Trade and other receivables (note 4) 3,013,944 3,694,821 Inventories (note 5) 8,980,077 9,619,963 Prepaid materials, expenses, and deposits 871,740 802,978 Total current assets 16,556,019 16,910,668 Non-current assets : Property and equipment (note 6) 687,935 607,699 Intangible assets (note 7) 1,472,529 1,882,891 Right-of-use assets (note 8) 2,231,243 2,562,647 Non-current deposits 434,040 434,040 Goodwill (note 7) 2,530,622 2,530,622 Deferred tax asset 2,824,396 2,824,396 Total non-current assets 10,180,765 10,842,295 Total Assets $ 26,736,784 $ 27,752,963 Liabilities and Shareholders' Equity Current liabilities: Accounts payable and accrued liabilities (note 9) $ 7,191,878 $ 8,500,775 Income taxes payable 809,973 707,584 Current portion of lease (note 10) 975,734 1,154,315 Deferred revenue (note 11) 1,456,273 1,385,993 Debt - current (note 12) 3,602,368 2,449,384 Total current liabilities 14,036,226 14,198,051 Non-current liabilities: Lease liability (note 10) 1,592,304 1,695,228 Debt - non-current (note 12) 8,604,855 8,640,727 Warrants (note 13) 195,037 63,968 Total non-current liabilities 10,392,196 10,399,923 Shareholders' equity: Share capital (note 14) 123,143,637 123,136,971 Share based payment reserve 11,547,807 11,515,195 Deficit (132,383,082) (131,497,177) Total Shareholders' equity 2,308,362 3,154,989 Total Liabilities and Equity $ 26,736,784 $ 27,752,963 Condensed Consolidated Interim Statements of Operations and Comprehensive Loss(Unaudited)(Expressed in United States dollars) For the three months ended March 31 2025 2024 Revenue (note 16)$ 15,088,846 $ 15,589,852 Cost of goods sold (note 5)8,864,174 9,498,901 Gross Profit6,224,672 6,090,951 Operating expenses: Fulfillment costs895,598 997,767 Selling and marketing1,415,059 1,362,557 Administration3,298,776 3,346,772 Depreciation and amortization770,538 700,836 6,379,971 6,407,932 Profit (loss) from operations(155,299) (316,981) Other income (expense): Interest income6,440 22,102 Interest expense(348,610) (329,862) Rental income- 56,195 Fair value adjustment of warrants (note 13)(130,569) 3,039 Restructuring costs (note 20)(120,014) - Foreign exchange gain (loss)(18,853) 43,683 (611,606) (204,843) Loss before income taxes(766,905) (521,824) Income tax (expense) recovery(119,000) (67,500) Total loss and comprehensive loss for the period$ (885,905) $ (589,324) Deficit, beginning of period$ (131,497,177) $ (130,249,647) Deficit, end of period$ (132,383,082) $ (130,838,971) Loss per share: Basic and diluted loss per share (note 21)(0.02) (0.01) Condensed Consolidated Interim Statement of Changes in Equity (Deficiency)(Unaudited)(Expressed in United States dollars) For the three months ended March 31, 2025 and 2024Common Shares Share based payment reserve Deficit TotalNumber Amount Balance - December 31, 2023 41,941,535 $ 123,109,599 $ 11,323,580 $ (130,249,647) $ 4,183,532 Issuance of share capital (note 15) 7,843 3,720 - - 3,720 Loss and comprehensive loss for the period - - - (589,324) (589,324) Share-based payment expense (note 15) - - 64,180 - 64,180 Balance - March 31, 2024 41,949,378 123,113,319 11,387,760 (130,838,971) 3,662,108 Balance - December 31, 2024 42,032,706 $ 123,136,971 $ 11,515,195 $ (131,497,177) $ 3,154,989 Issuance of share capital (note 15) - - - - - Exercise of options 7,417 6,666 (2,253) - 4,413 Loss and comprehensive loss for the period - - - (885,905) (885,905) Share-based payment expense (note 15) - - 34,865 - 34,865 Balance - March 31, 2025 42,032,123 $ 123,143,637 $ 11,547,807 $ (132,383,082) $ 2,308,362 Condensed Consolidated Interim Statement of Cash Flows(Unaudited)(Expressed in United States dollars)For the three months ended March 312025 2024Cash provided by (used in):Operating activities: Loss for the period $ (885,905) $ (589,324) Add (deduct) items not affecting cash: Depreciation 763,042 700,836 Income tax expense 119,000 67,500 Stock-based compensation expense 34,865 64,180 Other interest and finance cost 269,487 295,175 Interest paid on leases 40,556 34,687 Interest earned on lease receivables - (22,102) Fair value adjustment on warrants 131,069 (3,039) Unrealized foreign exchange (515) (39,794) Change in non-cash working capital (note 17) 312,716 664,774 Income taxes paid (16,611) (1,000) Total operating activities 767,704 1,171,893Investing activities: Purchase of property and equipment (101,014) (29,329) Principal received on lease receivables - 70,551 Total investing activities (101,014) 41,222Financing activities: Proceeds from exercise of options 4,413 3,720 Deferred financing costs (72,939) - Interest paid (53,917) (99,766) Principal lease payments (322,060) (347,479) Promissory note repayment (311,250) (311,250) Deferred consideration repayment - (675,000) Loan advances 1,233,123 - Loan repayments (1,293) (239,581) Total financing activities 476,077 (1,669,356) Increase/(decrease) in cash and cash equivalents 1,142,767 (456,241) Cash and cash equivalents, beginning 2,347,491 2,601,893 Cash and cash equivalents, end $ 3,490,258 $ 2,145,652 To view the source version of this press release, please visit
Yahoo
22-05-2025
- Business
- Yahoo
New Boys and Girls Club to open at Michigan Central
The Brief A new hub is set to launch at Michigan Central for hundreds of young people. The Boys and Girls Clubs work to help young people, primarily those who face obstacles, reach their full potential. DETROIT (FOX 2) - A new hub is set to launch at Michigan Central, exploring an exciting opportunity for hundreds as the Boys and Girls Clubs of Southeastern Michigan expand. What they're saying The Boys and Girls Clubs work to help young people, primarily those who face obstacles, reach their full potential. "Super excited to announce our next Boys and Girls Club, it's gonna be the Michigan Central Boys and Girls Club," said President & CEO Shawn Wilson. "A big piece of that is workforce. We've been training kids in our neighborhood around artificial intelligence, advanced manufacturing, mobility, and tech." Expanding to Michigan Central means even more opportunities. "This gives our youth an opportunity to go to the next level. If they're looking to become entrepreneurs, now they're really plugged into a bigger ecosystem that allows them to learn what that means as they're creating their own inventions," said Wilson. Local perspective Michigan Central is excited to roll out the red carpet. "It's really a two-way street. It's creating an ecosystem where we get value from seeing things through the kids' eyes—the future, what they're interested in—and how do we ensure that they have a pathway to being interns for some of the startups here," said Michigan Central Chief Operating Officer Carolina Pluszczynski. It's creating a pathway to the future. "How do we keep advancing it? How do we make sure that our community around us is ready for it and really can take on those technologies?" she said.
Yahoo
17-04-2025
- Business
- Yahoo
BuildDirect Reports Fourth Quarter and Year Ended December 31, 2024 Financial Results
Delivered $2.2 million in adjusted EBITDA in Fiscal 2024, extending the Company's track record to 12 straight quarters of positive performance. Delivered gross margin of 38.7% in Fiscal 2024, an increase of 18 bps year-over-year. Total operating expenses in Fiscal 2024 decreased by $2.3 million to $26.3 million, or 8.0% year-over-year, driven by disciplined cost control and operational efficiencies. Working capital decreased by $0.1 million to $2.7 million at December 31, 2024 from $2.8 million at December 31, 2023. Secured a total capacity of CAD$9.5 million in a Revolving Credit Facility from the Royal Bank of Canada. Opened a new Pro Center in Brighton, Michigan and completed build-out and optimization of the Pro Center in Richmond, British Columbia in 2024; strategic groundwork enabled the successful launch of two additional locations in early 2025. Company to host Fourth Quarter and Year Ended December 31, 2024 earnings conference call on April 17, 2025 at 1:30 PM (PDT) / 4:30 PM (EDT). BuildDirect reports in US dollars and in accordance with IFRS Accounting Standards. Vancouver, British Columbia--(Newsfile Corp. - April 17, 2025) - Technologies Inc. (TSXV: BILD) ("BuildDirect" or the "Company") a leading omnichannel building material retailer, today announced its financial results for the Fourth Quarter ("Q4 2024") and full-year audited financial results for the year ended December 31, 2024 ("FY 2024"). "In 2024, we stayed focused on what matters: improving margins, controlling costs, and growing where it makes sense," said Shawn Wilson, CEO of BuildDirect. "This marks our 12th straight quarter of positive adjusted EBITDA. We cut $2.3M in annual operating expenses, expanded gross margin, and made smart investments in inventory and new locations, including our latest opening in Brighton, Michigan, to support long-term growth. With a new credit facility in place, we're in a strong position to keep building." "Since year end, we've opened a new location in California and completed an asset acquisition, with Anchor Flooring and Supply LLC and Yorkshore Sales and Marketing Inc. to strengthen our presence in the Southeast," Shawn continued. "It's a solid deal that fits our model: grow the Pro Center network, create operating leverage, and stay disciplined on returns." Shawn added, "We're focused on scaling the right way-by building or acquiring strong locations, expanding our commercial reach, and growing EBITDA through better execution." Fourth Quarter and Full Year 2024 Financial Results Conference Call Date: Thursday, April 17, 2025Time: 1:30 PM (PDT) / 4:30 PM (EDT) Live Webinar: The replay will be available approximately 24 hours after the completion of the conference call. In addition, an archived replay will be available on the Investor Relations section of the Company's website at Among other things, BuildDirect will discuss its long-term financial outlook on the conference call and related materials will be available on the Company's website at Investors should carefully review the factors, assumptions, risks and uncertainties included in such related materials concerning such long-term financial outlook. Q4 2024 and FY 2024 Highlights\ A. Financial PositionThe following table summarizes the Company's financial position for the years as at December 31, 2024, and 2023: To view an enhanced version of this graphic, please visit: (1) A non-IFRS measure. See "Non-IFRS measures" for definitions and reconciliation of non-IFRS measures to the relevant IFRS Accounting Standards B. Financial ResultsThe following table summarizes the Company's financial results for the three and twelve months ended December 31, 2024, and 2023: To view an enhanced version of this graphic, please visit: To view an enhanced version of this graphic, please visit: C. Revenue and Gross Profit per SegmentThe Company reports its results in two segments: (1) BuildDirect and (2) Acquired Retailers ("Retailers"). We measure each reportable operating segment's performance based on revenue. Our BuildDirect segment comprises sales through our BuildDirect e-commerce and brick and mortar operations. Our Retailers segment comprises sales of flooring building materials through our acquired brick and mortar locations and includes installation services. The BuildDirect and Retailers segments contributed 25.2% and 74.8% in Q4 2024, compared to 22.5% and 77.5% in Q4 2023. Likewise, the BuildDirect and Retailers segments contributed 23.2% and 76.8% of our sales, respectively, in 2024 compared to 27.3% and 72.7% of our sales, respectively, in 2023. The following table summarizes revenue and gross profit per Segment for Q4 2024 and Q4 2023: To view an enhanced version of this graphic, please visit: To view an enhanced version of this graphic, please visit: Consolidated revenue in Q4 2024 was $16,723,578 compared to $16,916,952 in Q4 2023, a decrease of $193,374 or 1.1%. Revenue in Q4 2024 for BuildDirect was $4,206,535 compared to $3,800,051 for the same period in the prior year, an increase of $406,484 or 10.7%. The increase can be attributed to the Company's strategy to shift its e-commerce product mix to higher margin, direct-sourced products with inventory levels to support the shift. Q4 2024 revenue for Retailers was $12,517,044 compared to $13,116,901 for the same period in the prior year, a decrease of $599,857 or 4.6%. This decrease can be attributed to weaker housing remodeling and new construction activities, posited to be driven by higher mortgage interest rates. Consolidated gross profit in Q4 2024 was $6,562,881 compared to $5,957,814 in the same period in the prior year, an increase of $605,067 or 10.2%. The increase can be attributed to higher revenue in the BuildDirect segment and higher gross margin in the Retailers segments. In addition, gross profit percentage increased 4.0% in Q4 2024 to 39.2% compared to 35.2% in Q4 2023. D. Quarterly Financial Information(1) To view an enhanced version of this graphic, please visit: (1)A non-IFRS measure. See 'Non-IFRS Measures' for definitions and reconciliation of non-IFRS measures to the relevant IFRS Accounting Standards. The preceding table provides selected quarterly financial information that is unaudited, but reflects all adjustments of a normal, recurring nature which are, in our opinion, necessary to present a fair statement of the results of operations for the periods presented. Quarter-to quarter comparisons of our financial results are not necessarily meaningful and should not be relied upon as an indication of future performance. The Company has maintained positive Adjusted EBITDA through changing its strategy to focus on the more profitable Pro Customer base, optimizing e-commerce operations and reduce operating expenses. 2025 Outlook In 2025, BuildDirect is pursuing a focused and disciplined growth strategy aimed at expanding its Pro Center network and unlocking greater operating leverage across its platform. With a proven track record of scalable and profitable operations, the company will look to accelerate growth through the exploration of a combination of new location builds and targeted strategic acquisitions. As part of this strategy, and subsequent to year-end, BuildDirect opened a new Pro Center in California and completed the acquisition of key flooring assets from Anchor Flooring and Supply Company LLC ("Anchor") and Yorkshore Sales and Marketing Inc. ("Yorkshore"), marking its expansion in the Florida market. For the 12-month period ending December 31, 2024, Anchor and Yorkshore reported consolidated, unaudited revenue of US$5.8 million and EBITDA of US$661,000 as previously disclosed. Looking ahead, BuildDirect remains committed to expanding its geographic footprint, deepening supplier relationships, and enhancing its service capabilities for professional customers. Each new location and acquisition is carefully aligned with the company's goal of delivering strong returns and capturing market share in both core and emerging regions. In parallel, BuildDirect is focused on driving EBITDA growth through improved operational efficiency and the continued development of its commercial sales channel. By optimizing its infrastructure and leveraging data-driven decision-making, the company is well-positioned to scale profitably while maintaining a high standard of customer service. These initiatives reflect BuildDirect's unwavering commitment to pursue sustainable growth, operational excellence, and long-term value creation for its stakeholders. About BuildDirect BuildDirect (TSXV: BILD) is an expanding omnichannel building materials retailer, specializing in Pro Centers-strategic distribution hubs designed to serve professional contractors and trades. The Company is actively scaling its footprint through a combination of organic growth and strategic acquisitions, driving efficiency and market expansion. For more information, visit Forward-Looking Information: This press release contains statements which constitute "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"), including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking statements are often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions. These statements reflect management's current beliefs and expectations and are based on information currently available to management as at the date hereof. Forward-looking statements in this press release may include, without limitation, statements relating to BuildDirect being in a strong position to keep building; BuildDirect's ongoing pursuit of a model focused on growing the Pro Center network, creating operating leverage and staying disciplined on returns; the Company building or acquiring strong locations, expanding its commercial reach, and growing EBITDA through better execution; the Company's acceleration of growth through the exploration a combination of new location builds and targeted strategic acquisitions; the Company's expansion of its geographic footprint, deepening supplier relationships, and enhancing its service capabilities for professional customers; the Company's delivery of strong returns and capturing market share in both core and emerging regions; the Company's focus on driving EBITDA growth through improved operational efficiency and the continued development of its commercial sales channel; the Company being well-positioned to scale profitably while maintaining a high standard of customer service; and BuildDirect's unwavering commitment to pursue sustainable growth, operational excellence, and long-term value creation for its stakeholders. Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Among those factors are changes in consumer spending, inflation, availability of mortgage financing and consumer credit, changes in the housing market, changes in trade policies, tariffs or other applicable laws and regulations both locally and in foreign jurisdictions, availability and cost of goods from suppliers, fuel prices and other energy costs, interest rate and currency fluctuations, retention of key personnel and changes in general economic, business and political conditions and other factors referenced under the "Risks and Uncertainties" section of our MD&A. These forward-looking statements may be affected by risks and uncertainties in the business of the Company and general market conditions. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release reflect the Company's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and BuildDirect assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law. Reference is made in this press release to the following non-GAAP measures: Adjusted EBITDA and Working Capital. These non-GAAP measures are commonly used by investors and other interested parties to evaluate the Company's financial performance and are employed by the Company to measure its operating and economic performance and to assist in business decision-making. These non-GAAP measures do not have any standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other issuers. These measures are provided as additional information to complement those IFRS measures by providing further understanding of the results of operations from management's perspective. Accordingly, these measures should not be considered in isolation nor as a substitute for analysis of the financial information reported under IFRS. Refer also to appendix tables, "Q4 2024 and FY 2024 Highlights" of this press release as well as our Management's Discussion and Analysis for definitions and reconciliations of non-IFRS measures to the nearest IFRS measures. NON-IFRS MEASURES This announcement refers to certain non-IFRS measures. These measures are not recognized measures under IFRS, and do not have a standardized meaning prescribed by IFRS Accounting Standards and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS Accounting Standards measures by providing further understanding of our results of operations from management's perspective. Accordingly, these measures should not be considered in isolation nor as a substitute for analysis of our financial information reported under IFRS Accounting Standards. We use non-IFRS measures including "EBITDA" and "Adjusted EBITDA". Management uses these non-IFRS measures in order to facilitate operating performance comparisons from period to period, to prepare annual operating budgets and forecasts, and to determine components of management compensation. As required by Canadian securities laws, we reconcile these non-IFRS measures to the most comparable IFRS Accounting Standards measures in this announcement. See below regarding definitions and reconciliation of these non-IFRS measures to the relevant reported measures. We define EBITDA as net income or loss before interest, income taxes and amortization. Adjusted EBITDA removes fair value adjustment of convertible debt and warrants, fair value adjustment of inventory, restructuring expenses, non-recurring bad debt expense, foreign exchange gains and losses, and share-based compensation items from EBITDA. We are presenting these measures because we believe that our current and potential investors, and many analysts, use them to assess our current and future operating results and to make investment decisions. Management uses these measures in managing the business and making decisions. EBITDA and adjusted EBITDA are not intended as substitutes for IFRS measures. To view an enhanced version of this graphic, please visit: (1) EBITDA % is a ratio of EBITDA divided by Total Revenue(2) Adjusted EBITDA % is a ratio of Adjusted EBITDA divided by Total Revenue Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. For further information:Shawn Wilson, CEOshawnwilson@ BuildDirect Investor Relationsir@ Consolidated Statements of Financial Position(Expressed in United States dollars) To view an enhanced version of this graphic, please visit: Consolidated Statements of Operations and Comprehensive Loss(Expressed in United States dollars) To view an enhanced version of this graphic, please visit: Consolidated Statements of Changes in Equity(Expressed in United States dollars) To view an enhanced version of this graphic, please visit: Consolidated Statements of Cash Flows(Expressed in United States dollars) To view an enhanced version of this graphic, please visit: To view the source version of this press release, please visit Sign in to access your portfolio
Yahoo
11-04-2025
- Business
- Yahoo
BuildDirect.com Technologies Inc. Fourth Quarter and Full Year 2024 Conference Call
Vancouver, British Columbia--(Newsfile Corp. - April 11, 2025) - Technologies Inc. (TSXV: BILD) ("BuildDirect" or the "Company"), a leading omnichannel building material retailer, today announced that the Company will report its fourth quarter and full year 2024 financial results before the market open on Thursday, April 17, 2025. Management will host a conference call and webcast to discuss the Company's financial results at 1:30 PM (PDT) / 4:30 PM (EDT) on the same day. BuildDirect Fourth Quarter and Full Year 2024 Financial Results Conference Call Date: Thursday, April 17, 2025Time: 1:30 PM (PDT) / 4:30 PM (EDT) Live Webinar: The Company will host a Q&A session during the webinar. The replay will be available approximately 24 hours after the completion of the live webinar on the Investor Relations section of BuildDirect's website at About BuildDirect BuildDirect (TSXV: BILD) is a leading omnichannel building material retailer. BuildDirect connects North American home improvement B2B and B2C organizations, and homeowners with quality building materials and services through its robust global supply chain network. BuildDirect's growth trajectory, strong product offering, and proprietary heavyweight delivery network are delivering value today, solidifying its position as an innovative player in the home improvement industry. For more information, visit For further information: Shawn Wilson, CEO1.778.382.7748BuildDirect Investor Relationsir@ Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. To view the source version of this press release, please visit Sign in to access your portfolio
