Dye & Durham Reported an C$88 Million Net Loss for FY2025
Revenue: C$440.7m. Net loss: C$88.0m. Adjusted EBITDA: C$232.8m. Operating cash flow: C$148.2m. This page explains the differences between net income/loss, Adjusted EBITDA and cash flow — and does not use Adjusted EBITDA and IFRS results interchangeably.
The concise answer
Dye & Durham reported an C$88.0m net loss for FY2025 (the year ended 30 June 2025), on revenue of C$440.7m, with Adjusted EBITDA of C$232.8m and cash flow from operations of C$148.2m. The audited financial statements were filed on 2 February 2026 after a delay, and included prior-period restatements.
- ›FY2025 revenue was C$440.7m; net loss was C$88.0m; Adjusted EBITDA was C$232.8m; operating cash flow was C$148.2m.
- ›The FY2025 audited financial statements were filed on 2 February 2026 after a delay and included prior-period restatements.
- ›FY2025 net loss improved versus FY2024's loss — see the fairness section.
Net loss vs. Adjusted EBITDA vs. cash flow
The bottom-line result after all costs including finance costs, amortization, impairments, restructuring and tax. For FY2025 this was a C$88.0m loss.
Earnings before interest, taxes, depreciation, amortization and management adjustments. For FY2025 this was C$232.8m. It is not comparable to IFRS net income.
Cash generated by operations, a liquidity measure. For FY2025 this was C$148.2m — positive even though the company reported a net loss.
This site does not use Adjusted EBITDA and IFRS results interchangeably. See the EBITDA vs net loss reconciliation and the FY2026 results for the subsequent improvement.
Frequently asked questions
How much did Dye & Durham lose in FY2025?
Dye & Durham reported an C$88.0m net loss for FY2025, on revenue of C$440.7m, with Adjusted EBITDA of C$232.8m and operating cash flow of C$148.2m.
How can there be positive Adjusted EBITDA and a net loss?
Adjusted EBITDA is a non-IFRS measure that excludes finance costs, amortization, impairments, restructuring and stock compensation. After those items, the IFRS result was a net loss. See the EBITDA vs net loss reconciliation.