Dr. Phone Fix Canada Corporation, one of Canada’s fastest-growing and award-winning consumer electronics repair and resale platforms, reported on Monday financial results for the three months ended March 31, indicating revenue had increased by 44% from a year ago.
The company operates a network of 44 corporately owned stores across five Canadian provinces.
Financial Results Summary (CAD)
| (all dollar amounts in 000’s) | Three Months Ended Mar 31, 2026 | Three Months Ended Mar 31, 2025 | Variance (%) |
| Revenue | 3,162 | 2,196 | +44 % |
| Gross Profit | 1,621 | 1,210 | +34 % |
| Gross Margin | 51.3 % | 55.1 % | -3.8 pp |
| Operating Expenses (SG&A) | 2,476 | 1,754 | +41 % |
| Adjusted EBITDA(1) | 88 | (13) | n/m |
| Cash | 291 | 1,558 | -81 % |
(1) See Non-GAAP Financial Measure towards the end of this document.
“Q1 reflected continued progress in the execution of our strategy with revenue increasing 44% year-over-year and comparable-store sales increasing 29%, even in what is typically our seasonally weakest quarter,” said Piyush Sawhney, Founder and Chief Executive Officer of Dr. Phone Fix. “We also delivered positive Adjusted EBITDA, generated positive operating cash flow, and continued to improve execution across our national network while integrating recently acquired locations and advancing our OEM, insurance, supplier, repair and certified pre-owned device programs.”
“We have spent the past year building the foundation for a national, carrier-neutral device lifecycle platform. Today, we have 44 corporately owned locations across five provinces, a growing pipeline of acquisition and greenfield opportunities, and a strategy focused on disciplined expansion and stronger unit-level economics through multiple revenue channels.
“Looking ahead, we are focused on disciplined expansion over the next 12-15 months, improving store productivity, integrating acquisitions into our centralized operating platform, and building long-term shareholder value through the continued growth of our national operating platform.”
Q1 2026 Financial Highlights
- Revenue increased 44% to $3.16 million, compared to $2.20 million in Q1 2025. Sales from stores operating in both periods increased on average 29%, contributing approximately $0.7 million of incremental revenue, while stores not open or owned in Q1 2025 contributed approximately $0.3 million of additional revenue.
- Gross profit increased 34% to $1.62 million, compared to $1.21 million in Q1 2025. Gross margin was 51.3%, compared to 55.1% in Q1 2025, reflecting a greater mix of certified pre-owned device sales, which typically carry lower percentage margins than repair services.
- Operating expenses, excluding share-based compensation, increased by approximately $0.4 million compared to Q1 2025, primarily due to the expanded store network, including higher depreciation, and other operating costs associated with additional locations and increased operations.
- Adjusted EBITDA improved to positive $0.09 million, compared to negative $0.01 million in Q1 2025, reflecting higher gross profit and continued progress toward operating leverage.
- Cash generated from operating activities was $0.33 million, compared to cash used in operating activities of $0.12 million in Q1 2025. Cash flow from operating activities before changes in non-cash working capital improved to positive $0.06 million from negative $0.04 million in the prior-year period.
- Net loss improved on a reported basis to $1.17 million, compared to $2.41 million in Q1 2025. The improvement was primarily attributable to the absence of Q1 2025 listing and transaction expenses associated with the Company’s public listing, partially offset by additional operating costs associated with the larger store base and non-cash share-based compensation.
Subsequent to the end of the quarter, the company said it was named to the Financial Times list of “The Americas’ Fastest Growing Companies” for the second consecutive year. The 2026 ranking recognized the top 300 companies across North and South America based on revenue growth between 2021 and 2024, with Dr. Phone Fix ranked #143 overall and one of only 43 Canadian companies included on the list. It announced a non-brokered private placement financing of convertible debenture units for aggregate gross proceeds of up to $2.5 million, with net proceeds intended to support growth initiatives, strategic acquisitions, store expansion and general working capital purposes. It entered into a definitive agreement to acquire the assets of Cell Phone Solutions, an established device repair business based in Saint John, New Brunswick, for a total purchase price of approximately $175,000, including inventory. The acquisition is expected to provide Dr. Phone Fix with an established revenue-generating location in New Brunswick – its sixth province and support the company’s continued Atlantic Canada expansion.
And it secured two additional retail leases in New Brunswick and Ontario, further supporting the company’s strategy of increasing regional density, entering underserved markets and combining disciplined acquisition activity with selective greenfield expansion.
More from Retail Insider:
- Dr. Phone Fix enters New Brunswick market through strategic acquisition and store expansion
- Dr. Phone Fix enters New Brunswick market through strategic acquisition and store expansion
