BuildDirect Third Quarter Revenues Fall

BuildDirect.com Technologies Inc. had revenue of $22 million for the third quarter of 2022, an 8.5 per cent decrease over revenue of $24.1 million in the third quarter of 2021. The professional segment revenue was $19.4 million for the quarter, representing 88.2 per cent of total revenue at the quarter end. Professional revenues grew 5.6 per cent quarter-over-quarter and 19.6 per cent year-over-year due to increased strategic focus on driving professional market share. Overall gross profit for the quarter was $6.9 million with a gross margin of 31.4 per cent, this compares to gross margin of $8.4 million with a gross margin of 35 per cent in the year-ago period.