DIRTT Reports Second Quarter 2026 Financial Results

CALGARY, Alberta, July 29, 2026 (GLOBE NEWSWIRE) -- DIRTT Environmental Solutions Ltd. (“DIRTT”, the “Company”, “we”, “our”, “us” or “ours”) (TSX: DRT; OTCQX: DRTTF), a leader in industrialized construction, today announced its financial results for the three and six months ended June 30, 2026. All financial information in this news release is presented in U.S. dollars, unless otherwise stated.

Second Quarter 2026 Highlights and Recent Developments * Revenue of $40.3 million in the second quarter of 2026, an increase of 4% from the second quarter of 2025. * Gross profit and gross profit margin for the second quarter of 2026 was $14.0 million or 34.7% of revenue, an increase from $10.8 million or 27.8% of revenue for the same period of 2025. * Net income after tax for the second quarter of 2026 was $1.1 million compared to net loss after tax of $6.6 million for the same period of 2025. * Adjusted EBITDA(1) for the second quarter of 2026 was $4.7 million, or 11.8% of revenue, an increase of $6.8 million from $(2.0) million or (5.2%) of revenue for the second quarter of 2025. Higher Adjusted EBITDA was mainly driven by a $3.1 million increase in Adjusted Gross Profit(1), offset by a decrease in operating expenses (excluding reorganization costs and stock-based compensation) of $3.5 million. * Following recent tariff revisions announced by the U.S. Government earlier in the quarter, the Company believes it is no longer subject to certain tariffs under Section 232 of the Trade Expansion Act of 1962 on steel and aluminum. We incurred $0.3 million in tariffs and related costs for the quarter ended June 30, 2026 compared to $2.0 million in the same period of 2025. * Liquidity, comprising unrestricted cash and available borrowings, was $21.5 million at June 30, 2026, compared to $32.1 million at December 31, 2025. * On February 2, 2026, the Company’s 10-week trial against Falkbuilt Ltd. (“Falkbuilt”), Messrs. Smed and Loberg and several other former DIRTT employees alleging breaches of restrictive covenants, fiduciary duties, employment duties and confidentiality commenced. DIRTT is pursuing damages and losses it suffered in Canada, the U.S., and abroad in the Court of King’s Bench of Alberta. An additional three weeks of trial began July 20, 2026. * On June 30, 2026, the Company amended the employment agreements for Scott Robinson and Adrian Zarate to extend their respective terms as Executive Chairman of the Board and Chief Transformation Officer through December 31, 2026. (1) See “Non-GAAP Financial Measures”