Dye & Durham Lost C$38.5 Million in FY2026 as Revenue Fell 7%
FY2026 revenue: C$410.7m (down 7% from C$440.7m). Net loss: C$38.5m (improved from C$88.0m). Adjusted EBITDA: C$198.8m (down 15% from C$232.8m). Finance costs: C$147.9m. The annual loss improved substantially even as revenue and Adjusted EBITDA declined.
The concise answer
Dye & Durham reported FY2026 revenue of C$410.7m (down 7% from C$440.7m), a net loss of C$38.5m (improved from C$88.0m), Adjusted EBITDA of C$198.8m (down 15% from C$232.8m), and finance costs of C$147.9m. The annual loss improved substantially even as revenue and Adjusted EBITDA declined. The results also included a gain on the Credas disposal of approximately C$81.5m and a disclosed material weakness in internal controls over financial reporting.
FY2026 financial table
| Metric | FY2026 |
|---|---|
| Revenue | C$410.7M |
| Net loss | C$38.5M |
| Adjusted EBITDA | C$198.8M |
| Operating cash flow | C$153.4M |
| Finance costs | C$147.9M |
| Amortization / depreciation / impairment | C$127.6M |
| Acquisition / restructuring / other costs | C$49.7M |
| Gain on Credas disposal (approx.) | C$81.5M |
Year-on-year comparison
| Metric | FY2025 | FY2026 | Change |
|---|---|---|---|
| Revenue | C$440.7m | C$410.7m | −C$30.1m / −7% |
| Net loss | C$88.0m | C$38.5m | Improved |
| Adjusted EBITDA | C$232.8m | C$198.8m | −15% |
| Operating cash flow | C$148.2m | C$153.4m | +C$5.2m |
| Finance costs | C$132.8m | C$147.9m | +C$15.1m |
- ›FY2026 revenue was C$410.7m, down 7% from C$440.7m.
- ›FY2026 net loss was C$38.5m, improved from C$88.0m in FY2025.
- ›FY2026 Adjusted EBITDA was C$198.8m, down 15% from C$232.8m.
- ›FY2026 finance costs were C$147.9m; operating cash flow was C$153.4m.
- ›The results included a gain on the Credas disposal of approximately C$81.5m.
- ›The company disclosed a material weakness in internal controls over financial reporting.
For the reconciliation from Adjusted EBITDA to net loss, see How can Dye & Durham report nearly C$199m of Adjusted EBITDA and still lose money? For the accounting adjustments and material weakness, see those investigations.
Frequently asked questions
How much did Dye & Durham lose in FY2026?
Dye & Durham reported a C$38.5m net loss for FY2026, on revenue of C$410.7m, with Adjusted EBITDA of C$198.8m and operating cash flow of C$153.4m.
Why did Dye & Durham revenue fall?
FY2026 revenue fell 7% to C$410.7m from C$440.7m in FY2025. Regional and product drivers are discussed on the business segments page; the Credas disposal also affected comparability.
Did the loss improve?
Yes. The FY2026 net loss of C$38.5m improved substantially versus the FY2025 net loss of C$88.0m, even as revenue and Adjusted EBITDA declined.