DIRTT ENVIRONMENTAL SOLUTIONS LTD

For the period ended Jun 30, 2025. Filed Jul 30, 2025.

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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2025 · Filed Jul 30, 2025

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Contents

Interim Condensed Consolidated Statement of Cash Flows

(Unaudited – Stated in thousands of U.S. dollars)

For the Three Months Ended June 30, · For the Six Months Ended June 30,
2025 · 2024 · 2025 · 2024
Cash flows from operating activities:
Net (loss) income for the period	(6,602)	596			(7,263)		3,641
Adjustments:
Depreciation and amortization	1,547	1,521			3,027		3,055
Impairment charge on Rock Hill Facility	-	-			-		530
Stock-based compensation	594	427			1,333		1,102
Foreign exchange loss (gain)	1,809	(493)			2,065		(1,471)
Gain on extinguishment of convertible debt	(7)	-			(14)		(2,931)
Accretion of convertible debentures	91	205			175		385
Loss on disposal	-	290			115		290
Changes in operating assets and liabilities:
Trade and accrued receivables	(632)	(1,955)			2,661		(1,989)
Other receivables	(420)	(146)			(667)		(149)
Inventory	(727)	634			(76)		1,231
Prepaid and other assets, current and long term	(582)	(1,111)			(565)		326
Accounts payable and accrued liabilities	1,263	1,487			(431)		(2,585)
Customer deposits and deferred revenue	(286)	(168)			(657)		(2,370)
Current portion of long-term debt and accrued interest	7	59			(3)		(93)
Lease liabilities	23	297			62		628
Net cash flows (used in) provided by operating activities	(3,922)	1,643			(238)		(400)
Cash flows from investing activities:
Purchase of property, plant and equipment, net of accounts payable changes	(503)	(319)			(801)		(663)
Capitalized software development expenditures	(451)	(482)			(930)		(924)
Other asset expenditures	(85)	(53)			(91)		(132)
Recovery of software development expenditures	60	-			114		121
Proceeds on sale of property, plant, and equipment	-	10			-		10
Proceeds on sale of assets held for sale	-	-			-		1,025
Net cash flows (used in) investing activities	(979)	(844)			(1,708)		(563)
Cash flows from financing activities:
Common share repurchases	(488)	-			(3,993)		-
Repayment of long-term debt	(94)	(19)			(190)		(5,093)
Net proceeds received from Rights Offering	-	-			-		21,273
Employee tax payments on vesting of RSUs	(60)	(131)			(60)		(207)
Net cash flows (used in) provided by financing activities	(642)	(150)			(4,243)		15,973
Effect of foreign exchange on cash, cash equivalents and restricted cash	200	(109)			1		(339)
Net (decrease) increase in cash, cash equivalents and restricted cash	(5,343)	540			(6,188)		14,671
Cash, cash equivalents and restricted cash, beginning of period	28,686	39,230			29,531		25,099
Cash, cash equivalents and restricted cash, end of period	23,343	39,770			23,343		39,770
Supplemental disclosure of cash flow information:
Interest paid	(351)	(673)			(709)		(1,678)
Income taxes paid	1	(411)			(4)		(411)
The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within
the consolidated balance sheet.			As at June 30,
2025 · 2024
Cash and cash equivalents				23,100		39,529
Restricted cash				243		241
Total cash, cash equivalents and restricted cash				23,343		39,770

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.