Acquisitions Drive BuildDirect Revenues

BuildDirect Technologies Inc., an omnichannel building material retailer, had revenues of $21.7 million in the fourth quarter of 2022, a decline of 1.4 per cent from $22 million in the prior-year quarter. However, gross profit rose 14.1 per cent to $7.9 million compared to the same quarter the previous year. Total revenue was $92.2 million for the full year, an increase of 1.6 per cent year over year, largely driven by immediate revenue contribution from the acquisition of Superb. The independent retailers segment contributed 67 per cent of total revenue and increased by $19.9 million year over year, again largely driven by the acquisition of Superb. Full-year pro revenue reached $77 million for year-over-year growth of 35 per cent. It was driven by an overall shift in strategy to focus on the more profitable pro customer base.