$DRTTF · DIRTT ENVIRONMENTAL SOLUTIONS LTD
DIRTT Environmental Solutions filed its Q3 FY2026 10-Q. Revenue rose 18.6% YoY to $44.7M, gross margin expanded to 35.1% from 30.4%, and operating income swung to $4.4M from a $3.7M loss. Net income of $17.1M ($0.09 diluted EPS) was heavily boosted by a $13.0M current and deferred income tax recovery, versus a $157K expense a year earlier.
- Q3 revenue rose 18.6% YoY to $44.7M; nine-month revenue up 8% to $127.5M.
- Gross margin expanded to 35.1% from 30.4% a year ago.
- Operating income swung to $4.4M from a $3.7M loss.
- Net income of $17.1M included a $13.0M deferred tax recovery.
- Total liabilities fell to $66.9M from $74.0M at year-end 2025.
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A long-loss-making interior-construction firm posted its first meaningful profit, but the gain leans on a one-time tax benefit rather than core operations.
The interior-construction supplier's margin and revenue gains contrast with a still-soft North American construction backdrop flagged in its own risk factors.
Profitability hinges partly on a one-time $13.0M tax recovery; core pre-tax income was just $4.1M. Tariff, CUSMA, and recession risks could pressure raw-material costs and demand.