Calgary, Alberta — November 13, 2025 — Leads & Copy — Zedcor Inc. (TSXV: ZDC) has announced its financial and operating results for the three and nine months ended September 30, 2025, featuring record quarterly revenue and adjusted EBITDA.
The company reported record quarterly revenue of $16.0 million, a 75% increase year-over-year and an 18% increase quarter-over-quarter. Adjusted EBITDA also reached a record $5.7 million, marking a 68% increase year-over-year.
The adjusted EBITDA margin was 36%, driven by strong contribution margins in Canada, continued growth in the U.S., and improved operational efficiency from its AI at-the-edge cameras.
Zedcor deployed 469 MobileyeZ™ security towers during the three months ended September 30, 2025, and 1,016 over the nine-month period. These towers were deployed throughout North America, with a focus on expansion in the U.S. The company ended Q3 2025 with a total fleet of 2,351 MobileyeZ™ security towers.
Product innovation continued with deployments of the wall-mounted ZBox units exceeding 150 in Canada. Total fleet utilization rates remained strong throughout the quarter.
U.S. revenue accounted for 36% of total revenue in Q3 2025 and 33% of total revenue for the nine months ended September 30, 2025.
The company successfully continued its revenue growth initiatives during the quarter, reflected in the revenue and Adjusted EBITDA results. Notably, fleet-wide MobileyeZ™ utilization rates remained strong. Zedcor also onboarded several new customers across all operating verticals and continues to experience growing demand in both Canada and the U.S.
The company continues to see strong demand for its security towers in the U.S. and has had conversations with a number of enterprise customers exploring using the company’s technology enabled solutions. Zedcor also achieved growth in Canada, with continued revenue expansion and strong fleet utilization throughout the quarter.
President and CEO of Zedcor, Todd Ziniuk, said delivering record revenue and EBITDA is a testament to how the company’s innovative, technology-enabled security solutions are resonating with customers across North America. He added that the company continues to win business because of its unwavering commitment to customer service.
On February 5, 2025, Zedcor closed a bought deal equity financing for $25,311 at a price of $3.35 per share, issuing 7.6 million common shares. Subsequent to the end of the quarter, the company increased its banking facility from $30.0 million to $50.0 million. This equity funding, along with the increased banking facilities secured in Q4 2025 will continue and allow the company to expedite its growth in the U.S.
Expansion into strategic U.S. markets including all major metros in Texas (Houston, Dallas, San Antonio, Austin, and Midland), Denver, Colorado, Phoenix, Arizona and Las Vegas, Nevada. The company continues to see strong demand for its security services outside of Texas and its locations that have been established for less than a year are seeing rapid growth.
Significant customer wins in the residential home building segment across the U.S. and Canada. Zedcor anticipates demand in this vertical to continue to increase as it expands its footprint in the U.S. This growth in the company’s customer base has decreased the reliance on any one customer.
Zedcor exited Q3 2025 with 1,053 MobileyeZ™ located in the U.S., expanded the base of operations with the ability to serve customers across the southern U.S. and continued positive business development with both existing and new U.S. customers.
The company continued to expand its manufacturing capabilities, producing over 469 Solar MobileyeZ™ Security Towers in three months ended September 30, 2025 and 1,016 during the nine months ended September 30, 2025. Production capacity at the Houston, Texas facility has exceeded internal expectations and has increased to 35-40 towers per week to meet the growing U.S. customer demand.
Zedcor continues to effectively use a mix of cash flow, debt, and the proceeds from its equity financing to build additional MobileyeZ™ security towers to provide surveillance services to our expanding customer base. The company has grown its salesforce across North America in order to keep utilization rates at peak levels for its MobileyeZ™ and continue to expand its service offering to different industries.
Lucas Tomei has been appointed as Corporate Secretary. Mr. Tomei is a partner at Dentons Canada LLP, an international law firm, and has experience in a broad range of corporate finance, mergers and acquisitions, and securities regulatory matters.
Todd Ziniuk, President and Chief Executive Officer
P: (403) 930-5430
E: tziniuk@zedcor.com
Amin Ladha, Chief Financial Officer
P: (403) 930-5430
E: aladha@zedcor.com
Source: Zedcor Inc.
