Dr. Phone Fix Canada Corporation reported on Thursday financial results for the three and nine months ended September 30, 2025, and provided an update on recent corporate developments. The company operates a network of 35 corporately-owned stores across four Canadian provinces.
Dr. Phone Fix is an award-winning, eco-friendly, and customer-centric leader in Canada’s cell phone and electronics repair and pre-owned resale industry. Founded in 2019, Dr. Phone Fix operates 35 corporately owned retail locations across Canada, offering fast and reliable device repairs, certified pre-owned devices, and a wide range of accessories.
Financial Results Summary (CAD)
| (all dollar amounts in 000’s) | Three Months Ended Sept 30, 2025 | Three Months Ended Sept 30, 2024 | Variance (%) | Nine Months Ended Sept 30, 2025 | Nine Months Ended Sept 30, 2024 | Variance (%) |
| Revenue | 3,265 | 2,866 | +14 % | 8,319 | 7,579 | +10 % |
| Gross Profit | 1,747 | 1,596 | +9 % | 4,528 | 4,074 | +11 % |
| Gross Margin | 53.50 % | 55.70 % | -2.20 % | 54.40 % | 53.80 % | +0.60 % |
| Operating Expenses (SG&A) | 1,925 | 1,980 | -3 % | 6,055 | 5,702 | +6 % |
| Adjusted EBITDA | 418 | 149 | +181 % | 700 | -72 | +1066 % |
| Cash & Equivalents | 772 | 535 | +44 % | 772 | 535 | 44 % |
“Q3 demonstrated strong same-store sales performance, stable margins, and meaningful positive EBITDA improvement, supported by continued operational discipline and expanding national partnerships,” said Piyush Sawhney, Chief Executive Officer of Dr. Phone Fix. “Year-to-date, Adjusted EBITDA has reached $0.7 million, an improvement of more than 1,000%, highlighting the strength of our operating model as we scale.”
“Looking ahead, our growth playbook combines measured new store openings with a disciplined M&A strategy to accelerate scale. Today, we operate 35 corporately owned stores. Upon closing our acquisition of substantially all of the assets of Geebo Device Repair Inc. over the coming days, our footprint will expand to 41 stores nationwide, and we are on target to open four additional stores before the end of 2025, bringing us to 45 operating locations by year-end.
“Our strategy remains to target high-quality operators, deepen our procurement and refurbishment capabilities, strengthen insurer and OEM program access, and leverage our proven operating playbook to drive cash generation at the unit level. Taken together, we believe this approach will expand our footprint efficiently, deepen our national coverage, and enhance long-term profitability.”
Q3 2025 Financial Highlights
- Revenue increased 14% to $3.27 million, compared to $2.87 million in Q3 2024, driven primarily by strong same-store sales growth.
- Gross profit increased 9% to $1.75 million. Gross margin of 53.5% reflected normal CPO mix variability due to higher demand for premium devices.
- Operating expenses decreased 3%, despite operating an additional store and expanded corporate activity.
- Adjusted EBITDA increased 181% to $0.42 million, compared to $0.15 million in Q3 2024, driven by higher gross profit and lower salaries and benefits.
- Cash ended at $0.77 million, supported by improved working capital and the March private placement.
Year-to-Date Financial Highlights
- Revenue increased 10% to $8.32 million, compared to $7.58 million in Q3 2024 YTD, with 9% growth from existing stores and 1% from the newest location.
- Gross profit increased 11% to $4.53 million, compared to $4.07 million last year, with year-to-date gross margin improving to 54.4% from 53.8% due to stronger purchasing power and supplier partnerships.
- Operating expenses (SG&A) increased 6% to $6.05 million, compared to $5.70 million in Q3 2024 YTD. Excluding share-based compensation, operating expenses decreased by approximately $0.2 million year-over-year, despite operating an additional store.
- Adjusted EBITDA reached $0.70 million, compared to a loss of $0.07 million last year, reflecting improved gross profit and disciplined expense management.
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