Dr. Phone Fix, one of Canada’s fastest-growing consumer electronics repair and resale platforms, released Thursday its financial results for the three and 12 months ended December 31, 2025 with annual revenue growing by 19% from the previous year.
The company operates a network of 44 corporately owned stores across five Canadian provinces.
“2025 marked a transformational year for Dr. Phone Fix, highlighted by our successful public listing, strong revenue growth, and continued national expansion,” said Piyush Sawhney, Founder and Chief Executive Officer of Dr. Phone Fix.
“We expanded our footprint to 44 corporately owned stores, entered Atlantic Canada through the Geebo acquisition, and strengthened our capital structure through closing an oversubscribed financing. While reported profitability was impacted by one-time listing and transaction expenses, our underlying operating performance continued to improve, supported by strong same-store sales and disciplined cost management.”
“While fourth quarter margins reflected a higher mix of certified pre-owned device sales, this shift is consistent with our strategy to drive higher revenue throughout and expand our market share. Looking ahead, our growth strategy remains focused on a balanced approach of new store openings and targeted acquisitions. With our national platform now established and infrastructure in place, we are focused on leveraging our growing scale, improving unit-level economics, and executing on a disciplined acquisition pipeline in a highly fragmented market.”
Q4 2025 Financial Highlights
- Revenue increased 47% to $3.84 million, compared to $2.60 million in Q4 2024, driven by strong seasonal demand, continued same-store sales growth, and increased certified pre-owned device sales, supported by higher volumes from insurance repair programs.
- Gross profit increased 2% to $1.35 million. Gross margin of 35.1% reflected a higher mix of certified pre-owned device sales, which carry lower margins than repair services, as well as increased device volumes during the quarter.
- Operating expenses (SG&A) were consistent year-over-year at $2.06 million, despite operating additional stores, including the integration of Geebo locations, and increased corporate activity associated with operating as a public company.
- Adjusted EBITDA was $(0.10) million, compared to $0.26 million in Q4 2024. The quarter reflected strong revenue momentum, with short term profitability impacted by strategic capital investments in inventory for further future growth, new store expansion, and integration initiatives. These investments are aligned with the company’s growth strategy and are expected to support improved operating leverage and earnings performance as they mature.
- Cash ended at $0.23 million, reflecting continued investment in working capital and network expansion, including inventory build to support certified pre-owned device demand, drive higher sales volumes, support expanding partnerships, and support the opening of new locations contributing to the current store count.
Full-Year 2025 Financial Highlights
- Revenue increased 19% to $12.15 million, compared to $10.18 million in 2024, driven primarily by organic same-store sales growth across the company’s existing store base. Same-store sales growth is calculated by comparing revenues at locations that have been open for at least 12 months. Contributions from new store openings, acquisitions, and insurance programs were not material to the period, as these initiatives were implemented late in the fourth quarter and had limited operating time to impact results. These initiatives are expected to contribute more meaningfully in 2026.
- Gross profit increased 9% to $5.88 million, compared to $5.40 million last year, with full-year gross margin of 48.3% reflecting increased contributions from certified pre-owned device sales, which carry lower margins than repair services, as well as an evolving product mix across the network.
- Operating expenses (SG&A) increased 5% to $8.12 million, compared to $7.77 million in 2024, reflecting continued investment in infrastructure to support future growth, as well as public company costs. Excluding share-based compensation and listing-related expenses, operating expenses remained well controlled, demonstrating operating discipline as the company scaled its platform.
- Adjusted EBITDA increased 219% to $0.60 million, compared to $0.19 million in 2024, driven by higher revenue and gross profit. This improvement reflects continued progress in the company’s underlying operating model, despite increased operating expenses associated with expansion and public company costs.
Q4 2025 Accomplishments
- Entered Atlantic Canada through the acquisition of Geebo Device Repair, a six-store chain in Nova Scotia, expanding Dr. Phone Fix’s national footprint.
- Completed a $2.57 million non-brokered equity private placement in two tranches, with net proceeds to be used for acquisitions, store expansion, inventory investment, and general working capital purposes.
- Signed new store leases in Alberta and Ontario, supporting continued expansion into high-demand markets.
- Continued to strengthen insurance and OEM partnerships, supporting increased certified pre-owned device volumes and procurement efficiencies across the network.
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