Welcome to our dedicated page for DIRTT Environmental Solutions Ltd. news (Ticker: DRTT), a resource for investors and traders seeking the latest updates and insights on DIRTT Environmental Solutions Ltd. stock.
DIRTT Environmental Solutions Ltd. (NASDAQ: DRTT, TSX: DRT) is a pioneer in industrialized construction, offering innovative prefab interior solutions for diverse sectors including corporate, government, education, and healthcare. Headquartered in Calgary, Alberta, DIRTT operates manufacturing facilities across Phoenix, Savannah, Kelowna, and Calgary, and collaborates with distribution partners globally.
DIRTT's cutting-edge approach to construction emphasizes customization and adaptability, enabling faster, cleaner builds that significantly reduce the carbon footprint. Their award-winning solutions are designed to be highly flexible, allowing organizations to reconfigure spaces rapidly in response to evolving needs. This adaptability is crucial in today's fast-paced business environment.
Recently, DIRTT formed a strategic partnership with Arthroto, a startup dedicated to transforming unused office spaces into sustainable residential and mixed-use housing. This collaboration aims to address urgent housing needs through prefabrication methodologies, ensuring efficiency, reduced labor, and minimal waste. As Arthroto leverages DIRTT's advanced construction systems, they are set to revolutionize the housing industry by providing affordable, eco-friendly solutions.
In addition to its innovative partnerships, DIRTT has also achieved significant milestones in the education sector. Working with construction partners Construkt and ID+A, DIRTT secured over $6 million in projects with esteemed institutions like Armstrong School District, Western Kentucky University, and Berea College. These projects highlight DIRTT's ability to deliver modern, dynamic learning environments within tight deadlines, showcasing their expertise in prefabricated interior construction.
Financially, DIRTT remains robust, as evidenced by their continuous growth and strategic expansions. The appointment of Fareeha Khan as the new CFO marks a new chapter in their financial leadership, promising further stability and innovation in their fiscal management.
DIRTT's commitment to sustainability and technological integration positions them as a leading force in the industrialized construction industry. By providing comprehensive interior solutions that align with modern environmental and economic demands, DIRTT continues to set new standards in construction efficiency and adaptability.
DIRTT Environmental Solutions Ltd. (TSX: DRT, NASDAQ: DRTT) announced an expansion of its litigation against Falkbuilt, initiated by its founders. The company has filed a federal lawsuit in Texas accusing Falkbuilt of unlawfully using confidential information and causing market confusion. DIRTT is also appealing a Utah court's decision regarding convenience in hearings and seeks $25 million in damages in Canada. Additionally, DIRTT is involved in a patent infringement case against Falkbuilt in Illinois, alleging that Falkbuilt's software infringes DIRTT's patents.
DIRTT Environmental Solutions Ltd. (NASDAQ: DRTT, TSX: DRT) has announced the opening of a new manufacturing plant in Rock Hill, South Carolina, with an investment of approximately $18.5 million. This facility spans 130,000 square feet and can be expanded to 260,000 square feet to meet increasing demand for customizable construction solutions. The new plant aims to enhance production efficiency, reduce shipping costs, and improve service for clients on the Eastern seaboard. Initially, it will employ 25 full-time workers.
DIRTT Environmental Solutions Ltd. (NASDAQ: DRTT, TSX: DRT) has announced its participation in upcoming investment conferences, including the 18th Annual Craig-Hallum Institutional Investor Conference on June 2, 2021, and the Roth Capital Partners 7th Annual ROTH London Conference on June 21-22, 2021. Both conferences will be held virtually, allowing DIRTT to engage with institutional investors. Investors can access the updated presentation on DIRTT's website.
DIRTT utilizes proprietary ICE® software to offer customized interior construction solutions, aiming for efficiency and sustainability in its manufacturing process.
DIRTT Environmental Solutions Ltd. (NASDAQ: DRTT) announced that all resolutions, including the election of eight directors, were approved during its annual shareholder meeting held on May 6, 2021. Notably, Michael T. Ford received 99.53% approval, while Steven E. Parry garnered only 78.80%, indicating some shareholder dissent. The detailed voting results will be made available on SEDAR and EDGAR. DIRTT leverages its proprietary ICE® technology for efficient interior space design and manufacturing, with operations across North America.
DIRTT Environmental Solutions Ltd. (Nasdaq: DRTT) reported its Q1 2021 financial results, revealing a revenue of $29.5 million, down 28% from $41 million in Q1 2020. The company experienced a net loss of $12.5 million, compared to a loss of $5.3 million in the same quarter last year. Gross profit margin was 11.4%, significantly down from 27.6% YoY. Adjusted EBITDA showed a loss of $11.4 million, reflecting ongoing impacts from the COVID-19 pandemic. Despite these challenges, there are signs of increasing customer engagement and optimism for revenue recovery in Q2 2021.
DIRTT Environmental Solutions Ltd. (NASDAQ: DRTT) will release its first quarter 2021 financial results on May 5, 2021, after market close. An earnings call and webcast for investors is scheduled for May 6, 2021, at 8:00 a.m. MDT, hosted by CEO Kevin O’Meara and CFO Geoff Krause. The company uses proprietary ICE® software for customizable interior environments, with manufacturing facilities in Phoenix, Savannah, and Calgary. The annual shareholder meeting will also take place on May 6, at 10:00 a.m. MDT.
DIRTT Environmental Solutions has appointed Jim Lynch and Diana Rhoten to its board of directors. Lynch, a leader in construction software, has extensive experience in advancing digital workflows and BIM standards. Rhoten, with a background in human-centered design, has successfully transformed businesses. Their appointments are part of the Board's renewal efforts aimed at driving innovation and growth. The company also announced Wayne Boulais' retirement from the Board, praising his significant contributions over the past five years. DIRTT leverages proprietary software for customizable interior environments.
DIRTT Environmental Solutions Ltd. (Nasdaq: DRTT) reported its financial results for Q4 and the full year 2020, revealing a 21% decline in Q4 revenue to $42.2 million and a 31% drop in full-year revenue to $171.5 million due to COVID-19 impacts. Despite a net loss of $4.2 million in Q4, both gross profit and adjusted gross profit margins improved. The company maintains a cash balance of $45.8 million as of year-end 2020. The management anticipates market recovery in commercial construction starting in H2 2021, although uncertainty remains due to ongoing pandemic effects.
DIRTT Environmental Solutions Ltd. (NASDAQ: DRTT, TSX: DRT) will release its 2020 year-end financial results on February 24, 2021, after market close. A conference call and webcast for investors is scheduled for February 25, 2021, at 8:00 a.m. MST (10:00 a.m. EST), hosted by key executives. DIRTT utilizes proprietary software to enhance the design and construction of customizable interior environments, aiming for efficiency in cost and timelines. The company operates manufacturing facilities in Phoenix, Savannah, and Calgary.
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