DIRTT (TSX:DRT) is a leading technology-driven manufacturer of highly customized interiors. The company combines proprietary design, configuration, and manufacturing software with integrated in-house manufacturing of innovative prefabricated interior construction solutions and advanced manufacturing practices to provide a unique, end-to-end solution for the interior construction industry.
The company’s software provides accurate design, drawing, specification, pricing, and manufacturing process information, allowing rapid production of high-quality custom solutions using fewer resources than traditional manufacturing methods. DIRTT’s goal is to create customizable, highly functional and higher-quality spaces faster, more efficiently and with a better overall customer experience than traditional construction methods.
DIRTT’s name stands for “doing it right this time” and reflects the company’s mandate of finding a better way to build by placing as much value on the environment and people as it does on flexible, functional, high-quality design and construction.
Significant growth potential
Construction is a major global industry. In the United States (U.S.) alone, the value of construction put in place in 2020 was over $1 trillion, of which over $650 billion was attributable to non-residential construction and over $350 billion was attributable to residential construction. In 2021, construction spending in the U.S. is expected to increase by 3%.
The predicted growth in offsite construction is supported by geographic concentration of construction projects, influx of new market entrants, increasing project complexity, and greater use of data analytics. These trends combined with the prioritization of lows costs and resource efficiency are driving companies to focus on innovation to improve productivity in the construction industry.
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Comprehensive service solutions
DIRTT is a building process powered by technology. It offers a comprehensive interior construction solution that addresses the challenges commonly associated with traditional interior building methods, including ineffective budgeting, cost overruns, labour shortages, inconsistent quality, unplanned change orders, and time delays. DIRTT’s short and precise manufacturing times and strong network of dealer partners allows for the completion of an interior construction solution in as little as 30 days, from visualization and completion of design to move in.
The flexibility and adaptability of DIRTT’s solutions complements the company’s strategy, which focuses on several priorities. These include identifying and pursuing client segments that are aligned with DIRTT’s value proposition, driving continuous innovation in DIRTT’s solutions, delivering technology-enabled manufacturing processes that facilitate short lead times, and pursuing ongoing development and support of DIRTT’s distribution partner network to ensure reliable execution.
Advanced proprietary technology
With the power of the company’s software, DIRTT offers flexible design, cost certainty, and short lead times. This enables DIRTT to integrate with a project in a way that removes the need for several steps required in conventional construction, thereby reducing on-site construction activity and waste and allowing for faster and more efficient project completion.
Regional partner network
The company’s network of DIRTT partners and sales representatives allows the company greater geographic reach and helps build awareness of DIRTT in the interior construction market. The company’s partners drive brand awareness and give the company broader market reach.
Overall, DIRTT is very well positioned in the industry and the markets in which it operates.
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