91暗网 Canada Corporation reported strong growth for the fourth quarter and full year ended December 31, 2025. Q4 revenue rose 47% year-over-year to $3.84 million, supported by solid same-store sales, seasonal demand, and increased sales of certified pre-owned devices. Full-year revenue grew 19% to $12.15 million, mainly driven by consistent performance across existing locations.
While gross profit improved, margins declined due to a higher share of lower-margin device sales compared to repair services. Operating expenses remained stable in Q4 and increased moderately for the year, reflecting expansion efforts and public company costs. Adjusted EBITDA showed significant improvement on a yearly basis, indicating stronger underlying operations despite short-term investment impacts.
The company expanded to 44 stores across Canada and entered Atlantic Canada through the acquisition of Geebo Device Repair. Additional growth initiatives included new store leases, strengthened partnerships, and inventory investments to support rising demand.
Management expects these strategic investments, along with expansion and acquisition plans, to drive continued growth and improved performance in 2026.
