BuildDirect Sees First Quarter Revenue Increase

BuildDirect had revenues of $24.4 million for the first quarter of 2022, a 1.6 per cent increase quarter-over-quarter and 16.8 per cent year-over-year. Pro revenue for the quarter was $18.7 million, representing 76.6 per cent of total revenue at the quarter end. Pro revenues grew 14.7 per cent quarter-over-quarter due to increased strategic focus on driving pro market share. Gross profit was $8.7 million, a 15.4 per cent increase from the previous quarter and 18.1 per cent year-over-year. Gross margin increased by 430 basis points to 35.8 per cent compared to the previous quarter.