BuildDirect.Com Technologies Inc.

Good afternoon, everyone, and welcome to BuildDirect's Q4 and full year 2025 earnings conference call. My name is Prit Singh, and I will be your moderator for today. For those unfamiliar, BuildDirect trades on the TSXV under the ticker BUILD, that's B-I-L-D, and on the OTCQB under the ticker B-D-C-T-F. Before we begin, I would like to remind everyone that certain statements made during this call may constitute forward-looking information within the meaning of applicable securities laws. These statements are based on management's current expectations and are subject to risks and uncertainties. Please refer to the detailed forward-looking statements and advisories in today's earnings deck and press release. In addition, please note that all dollar amounts mentioned in this presentation today are in U.S. dollars unless otherwise stated. Following comments from BuildDirect's management team, the call will be open for questions. Questions can be sent in using the Zoom chaining function at the bottom of your screen. If you're calling in to listen to the webinar today, please email your questions directly to ir at builddirect.com. That's ir at builddirect.com. A replay of this call will be available approximately 24 hours after the conclusion of this presentation today. It will be posted on the investor relations section of our website at ir at builddirect.com. With that out of the way, I would like to turn the call over to Sean Wilson, CEO of BuildDirect.

Thank you, Greg, for everyone. Good morning. Thanks for joining us today. So, 2025 was a year of disciplined execution and tangible progress for BuildDirect. Despite a challenging macro environment and industry headwinds, we delivered on our key priorities, gross margin expansion, EBITDA growth, and balance sheet strengthening. As you'll see in today's materials, we grew full-year revenue 1.1% to 66.2 million, expanded gross margin 170 basis points, and increased adjusted EBITDA 39% to 3.1 million. Our pro-center segment continued to scale while e-commerce achieved a full-year EBITDA turnaround of close to 2 million. We also strengthened our liquidity position with 8.2 million in cash and working capital up to 6.1 million. to 8.8 million following a successful 5.2 million equity raise. These results reflect the ability of our omnichannel model and the focus we place on operational efficiency and higher margin product mix. I'll now hand the call over to Kerry to walk through the detailed financial results.

Yeah, thanks very much, Sean, and good morning to everyone. So, let me start with Q4 here, fourth quarter. 2025, Q4 revenue was 16.2 million, down slightly from last year Q4, but with strong margin performance overall. Gross margin expanded 240 basis points to 41.7% and driving gross profits of 6.7 million. Adjusted EBITDA for the quarter reached 0.9 million, up 140% year over year. On a full year basis, the story is even clearer with revenue of 66.2 million, as Sean noted, gross profit of 26.7 million, which is up 5.5%, and adjusted EBITDA of 3.1 million, which was up 39%. Operating cash flow was positive, 2.4 million, and as noted, we ended the year with significantly improved working capital on the balance sheet. So let's break down the business by segment. I think that's probably the next slide. On the e-commerce segment, revenue was $14.3 million, down 5.8% as we deliberately shifted toward higher margin SKUs and direct imports. Gross margin reached a record, 57.8%, and the segment adjusted EBITDA turned positive at 1.5 million for the e-comm segment, over 2 million improvement year over year. The drivers were direct import optimization, meaningful OpEx reductions, and headcount restructuring, that right-sized our current revenue base as we press release in early 2025. Moving on to the next slide in the Pro Center segment, this remains our largest and most stable growth engine. Revenue grew 3% to $51.9 million. Gross margin improved 35 points to 35.6%. And segment-adjusted EBITDA was $5.8 million for the pro centers. We opened the new Orlando Pro Center early in 2025 and continue to integrate recent acquisitions, delivering operating leverage across our network. Advancing to the next slide, slide eight, balance sheet and liquidity. You see that we ended the year with $8.2 million of cash, as Sean noted, up $5.4 million. Networking capital of $8.8 million was up $6.1 million, and the strengthened equity position following the $5.2 million raise. Total debt remains prudent. and we have ample liquidity to support 2026 and our growth initiatives that we expect to undertake. So with that, I will hand it over to Sean for our 2026 priorities and outlook. Sean?