BuildDirect Achieves Strong Fiscal 2024 Results and Expands Market Presence

BuildDirect.com Technologies Inc ( (TSE:BILD) ) has shared an announcement.

BuildDirect reported strong financial results for the fiscal year 2024, achieving $2.2 million in adjusted EBITDA and a gross margin of 38.7%. The company reduced its operating expenses by $2.3 million and secured a CAD$9.5 million credit facility, positioning itself for continued growth. Strategic expansions included opening new Pro Centers in Brighton, Michigan, and Richmond, British Columbia, with further growth in California and the Southeast through acquisitions. These moves aim to enhance the company’s market presence and operational efficiency, supporting long-term growth and stakeholder value.

More about BuildDirect.com Technologies Inc

BuildDirect.com Technologies Inc is a leading omnichannel building material retailer, focusing on both e-commerce and brick-and-mortar operations. The company specializes in flooring building materials and installation services, with a market focus on expanding its Pro Center network and enhancing its commercial reach.

YTD Price Performance: 124.14%

Average Trading Volume: 23,607

Technical Sentiment Signal: Sell

Current Market Cap: C$54.64M

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