Q3 Revenue Up 14% YoY; Year-to-Date Adjusted EBITDA Grows to $0.70M; Company Completes Oversubscribed $2.57M Financing and Signs Definitive Agreement to Enter Atlantic Canada
EDMONTON, AB, Nov. 27, 2025 /CNW/ - Dr. Phone Fix Canada Corporation (TSXV: DPF.V) ("Dr. Phone Fix" or the "Company") today reported 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.
Financial Results Summary (CAD)
(all dollar amounts Three Three Variance Nine Nine Variance
in 000's) Months Months (%) Months Months (%)
Ended Ended Ended Ended
Sept Sept Sept 30, Sept 30,
30, 30, 2025 2024
2025 2024
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(1) 418 149 +181 % 700 -72 +1066 %
Cash & Equivalents 772 535 +44 % 772 535 44 %
(1) See "Non-GAAP Financial Measure" towards the end
of this press release.
"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."
Mr. Sawhney continued, "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.
Q3 2025 Accomplishments
-- Expanded partnership with Assurant (July 2025), further strengthening
nationwide CPO device sales channels and deepening insurer-driven
customer volume.
-- Recognized nationally for sustainability leadership, earning the
designation of Canada's "Sustainable Business of the Year."
-- Over 30,000 reviews and a 4.9-star network rating, reinforcing Dr. Phone
Fix as one of Canada's most trusted electronics repair brands.
Subsequent to Quarter-End
-- Exclusive partnership with the Alberta Motor Association (November 2025),
giving AMA's one million+ members discounted access to Dr. Phone Fix
repair services across Alberta.
-- Definitive agreement to acquire Geebo Device Repair Inc., a six-store
chain in Nova Scotia, expanding Dr. Phone Fix into Atlantic Canada for
the first time. Closing is expected over coming days.
-- Two new store leases signed, one in Alberta and one in Ontario, with
openings scheduled over the coming months.
-- Completion of an oversubscribed $2.57 million non-brokered private
placement in two tranches, supporting growth capital for acquisitions,
store expansion, and partnership investments.
-- Strengthened industry partnerships, including insurance/OEM program
expansion, which continue to enhance procurement economies and increase
high-volume CPO throughput.
About Dr. Phone Fix
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. The Company maintains strong relationships with OEMs and certified suppliers to ensure high-quality service and product offerings.
Dr. Phone Fix is traded on the TSX Venture Exchange under the symbol "DPF"
NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
Non-GAAP Financial Measure
This press release contains a specified financial measures that is a non-GAAP financial measure and does not have standardized meaning as prescribed by International Financial Reporting Standards ("IFRS"). These reported amounts and their underlying calculations are not necessarily comparable or calculated in an identical manner to a similarly titled measure of other companies issuers where similar terminology is used. Readers are cautioned that such financial measure should not be construed as an alternative to or more meaningful than the most directly comparable GAAP IFRS measure with respect to indicators evaluating the Company's performance. This measure has been described and presented in this press release in order to provide shareholders and potential investors with additional information regarding the Company's liquidity and its ability to generate funds to finance its operations and should not be considered in isolation.
Adjusted EBITDA is used by management and investors to analyze the Company's profitability based on the Company's principal business activities regardless of how these activities are financed, assets are depreciated and amortized, and results are taxed in various jurisdictions or subject to entity specific tax planning. Below is a reconciliation of net loss to the non-GAAP financial measure of Adjusted EBITDA:
(all dollar amounts Three Months Three Months Nine Months Nine Months
in 000's) Ended Sept Ended Sept Ended Sept Ended Sept
30, 2025 30, 2024 30, 2025 30, 2024
Net loss (497) (843) (3,994) (2,744)
Add (subtract):
Interest expense 327 301 895 1,014
Income tax expense
(recovery) (4) (10) (6) (19)
Depreciation 524 515 1,570 1,531
Share-based
compensation 33 - 544 -
Listing and
Transaction
expenses 7 - 1,602 -
Fair value
adjustments - 168 - 161
Government
assistance income - - - (40)
Interest included in
operating income 27 18 90 24
Adjusted EBITDA 418 149 700 (72)
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