Zedcor Inc. Reports Record Q1 2026 Revenue of $19.4 Million and Adjusted EBITDA of $7.6 Million

Zedcor reported first-quarter 2026 financial results on May 20, 2026. The headline numbers show a company in rapid expansion mode: revenue hit a record $19.4 million, a 69% increase year-over-year, and Adjusted EBITDA surged 86% to $7.6 million. For the first time in the company’s history, US revenue ($9.7M, or 58% of the total MobileyeZ fleet) eclipsed its Canadian operations. The total security tower fleet reached 3,261 units, more than doubling from the prior year. The company also noted it recently closed a $30.5 million equity raise at $6.00 per share and expanded its credit facility to $75 million total committed borrowing, with $43.2 million remaining undrawn. Strategically, Zedcor made a $2.033 million investment in an AI-native software developer to bolster its video management platform, signaling a move into higher-value, technology-enabled services.

The most recent news represents a continuation of an impressive operational trajectory but does not contain a genuinely new, market-moving surprise. The quarterly results are record-breaking, yet they align closely with the growth cadence the company has been telegraphing for several quarters. Revenue growth of 69% YoY is strong but a deceleration from the 73% YoY growth reported for Q4 2025 and the 75% reported for Q3 2025. Critically, the company posted a net loss of $278,000, a swing from a $622,000 profit a year earlier. This loss, despite record revenue and EBITDA, underscores that growth is coming with rising costs, higher depreciation, and increased financing expenses. The Adjusted EBITDA margin improved to 39% from 36%, which is a positive sign of operating leverage, but it has not yet translated into consistent, GAAP-based profitability.

The market appears to have anticipated much of this performance. The stock is trading at $6.46, just marginally above the $6.00-per-share price from the February 2026 equity raise. This suggests that while the company is executing on its stated plan, the current share price already reflects a premium for that execution. The news is positive, but it is an expected, incremental update on a well-understood growth narrative. The previous news items show a company that has been systematically raising capital, expanding its credit facility, and deploying towers at a breakneck pace. There is no element of surprise. Therefore, the impact is routine.

• Zedcor Inc. provides technology-enabled security solutions, primarily through its proprietary MobileyeZ mobile security tower units. These towers feature video surveillance, analytics, and real-time monitoring.
• The flagship project is the aggressive, ongoing scaling of its security-as-a-service fleet across North America. The company manufactures its own towers, with new facilities in Houston, Texas, boosting production capacity to over 50 units per week.
• Development has shifted from a Canadian-centric model to a majority US-focused operation, with deployments across Texas, California, Florida, and other key states. The customer base includes residential home builders, logistics, and retail.