BuildDirect.com Technologies Inc. Provides Preliminary Unaudited Results for the Fourth Quarter of 2024

Newsfile Corp.

Tue, Jan 28, 2025, 5:30 AM 5 min read

Vancouver, British Columbia--(Newsfile Corp. - January 28, 2025) - BuildDirect.com Technologies Inc. (TSXV: BILD) ("BuildDirect" or the "Company"), a leading omnichannel building material retailer, is pleased to announce preliminary unaudited financial results for the Company's three-months ended December 31, 2024 ("Q4 2024"), ahead of its audited Q4 2024 and full year 2024 earnings release anticipated in April 2025.

Preliminary Unaudited Q4 2024 Financial Highlights are as follows:

Revenue for Q4 2024 is expected to be in the range of $16.0 million to $16.9 million;
Gross Profit for Q4 2024 is expected to be in the range of $6.0 million to $6.7 million;
Gross Profit Margin for Q4 2024 is expected to be in the range of 36% to 40%.

The Company anticipates reporting its audited Q4 2024 and full year, twelve-months ending December 31, 2024 ("FY 2024") results and holding a conference call to discuss the results in April 2025 and will communicate the date of the earnings release and conference call shortly.

About BuildDirect

BuildDirect (TSXV: BILD) is a leading omnichannel building material retailer. BuildDirect connects North American home improvement B2B and B2C organizations, and homeowners with quality building materials and services through its robust global supply chain network. BuildDirect's growth trajectory, strong product offering, and proprietary heavyweight delivery network are delivering value today, solidifying its position as an innovative player in the home improvement industry. For more information, visit www.builddirect.com.

Preliminary Financial Information:

The Company's expectations for its Q4 2024 revenue, gross profit and gross profit margin are based on the Company's anticipated financial results for the three-month period ended December 31, 2024. The Company's expected financial results are unaudited and preliminary estimates that:

(i) are based on information available to management as of the date of hereof and management's initial review of operating results for the three-month period ended December 31, 2024; (ii) are subject to the Company's closing and review procedures and the completion and approval of the Company's consolidated financial statements for the three and twelve month periods ended December 31, 2024 and such estimates may differ materially from the actual results; and (iii) do not present all information necessary for an understanding of the Company's financial condition as of, and the Company's results of operations for, such periods and should not be used as a substitute for the Company's consolidated financial statements for the three and twelve-month periods ended December 31, 2024 and 2023. The preliminary expected financial information set forth above constitutes forward-looking statements upon which you should not place undue reliance because they may prove to be materially inaccurate. The Company does not intend to update such financial information prior to the release of its audited Q4 2024 and FY 2024 results anticipated in April 2025. The anticipated financial results are subject to the same limitations and risks as discussed under "Forward Looking Statements" below. Accordingly, the Company's anticipated financial results for such periods may change upon the completion and approval of the financial statements for such periods and the changes could be material.

Forward-Looking Information:

This press release contains statements which constitute "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"), including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking statements are often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions. These statements reflect management's current beliefs and expectations and are based on information currently available to management as at the date hereof.

Forward-looking statements in this press release may include, without limitation, statements relating to the Company's expected revenue, gross profit and gross profit margin for Q4 2024.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Among those factors are changes in consumer spending, inflation, availability of mortgage financing and consumer credit, changes in the housing market, changes in trade policies, tariffs or other applicable laws and regulations both locally and in foreign jurisdictions, availability and cost of goods from suppliers, fuel prices and other energy costs, interest rate and currency fluctuations, retention of key personnel and changes in general economic, business and political conditions and other factors referenced under the "Risks and Uncertainties" section of our MD&A. These forward-looking statements may be affected by risks and uncertainties in the business of the Company and general market conditions.

These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release reflect the Company's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and BuildDirect assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

For further information:
Shawn Wilson,
Chief Executive Officer
1.778.382.7748

BuildDirect Investor Relations
ir@builddirect.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/238668

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