The sharp guidance downgrade is the dominant signal, indicating that near-term demand is weaker than previously expected. Traders should watch for further project delays and monitor the Q3 earnings call for updates on pipeline conversion and the impact of the ongoing Falkbuilt trial.
Price Chart
Executive Summary
DIRTT reported Q2 2026 revenue of $40.3M (+4% YoY) and net income of $1.1M, a significant improvement from a $6.6M loss in Q2 2025. However, the company sharply downgraded its full-year 2026 guidance, cutting the revenue outlook by ~9% to $175-185M and Adjusted EBITDA to $21-25M, citing macroeconomic headwinds and delayed project timing. The guidance cut overshadows the operational improvements, signaling a material slowdown in near-term demand.
Key Financial Metrics
Key Facts
- Q2 2026 revenue was $40.3M, up 4% YoY from $38.9M.
- Net income was $1.1M vs a net loss of $6.6M in Q2 2025.
- Adjusted EBITDA was $4.7M (11.8% of revenue), up from -$2.0M in Q2 2025.
- Full-year 2026 guidance was downgraded: revenue to $175-185M (from $194-209M) and Adjusted EBITDA to $21-25M (from $26-31M).
- Liquidity was $21.5M at June 30, 2026, down from $32.1M at Dec 31, 2025.
- Tariff costs fell to $0.3M in Q2 2026 from $2.0M in Q2 2025.
Financial Impact
Guidance cut of ~$19M at the midpoint on revenue and ~$5.5M on Adjusted EBITDA vs prior outlook.
Risk Factors
- Further project delays and weaker-than-expected pipeline conversion.
- Ongoing Falkbuilt litigation could result in material costs or adverse outcomes.
- Continued macroeconomic headwinds, including tariff and raw material price volatility.
- Declining liquidity ($21.5M) could constrain operations if the downturn persists.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-324175 |
| Document: drttf-20260729.htm | 0001193125-26-324175 |
| Document: 0001193125-26-324175-index-headers.html | 0001193125-26-324175 |
| Document: 0001193125-26-324175-index.html | 0001193125-26-324175 |
| Document: 0001193125-26-324175.txt | 0001193125-26-324175 |
| 8-K Data (Synthetic) | 0001193125-26-324175 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 23, 2026 4w ago | 8-K | $0.5710 | awaiting T+60 | — | $0.5600 (−1.93%) |
Jul 29, 2026 12w ago | 8-K | $0.5940 $0.5584 | ▲ +5.99% | ▲ +8.71% | $0.5600 (+5.72%) |
Jul 2, 2026 16w ago | 8-K | $0.5400 $0.5710 | ▲ +5.74% | ▲ +1.92% | $0.5600 (+3.70%) |
May 6, 2026 24w ago | 8-K | $0.5450 $0.6816 | ▼ −25.06% | ▼ −21.23% | $0.5600 (−2.75%) |
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