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Aug 30, 2022

Pro Sales Lead BuildDirect Earnings

BuildDirect.com Technologies Inc. had revenue of $24.1 million for the second quarter of 2022, an increase compared to revenue of $23.4 million in the second quarter of 2021. Gross profit for the quarter was $8.4 million, down 3.8 per cent from $8.8 million in the year-ago period while gross margin was 35 per cent compared to 37.4 per cent in the year-ago period. Earnings before taxes were $600,000 compared to a loss of $700,000 year-over-year. The company says improvements in earnings were due to reallocating resources to the Pro market. Pro revenue reached $19.9 million, representing 82.6 per cent of total revenue at the quarter end. Pro revenues grew six per cent quarter-over-quarter and 21.9 per cent year-over-year due to increased strategic focus on driving Pro market share.

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