Core Insights - Zedcor Inc. reported record quarterly revenue of $16.0 million and Adjusted EBITDA of $5.7 million for Q3 2025, marking a 75% year-over-year increase in revenue and a 68% increase in Adjusted EBITDA [5][8][10] Financial Performance - Revenue for Q3 2025 was $16.0 million, up from $9.2 million in Q3 2024, reflecting a 75% increase year-over-year and an 18% increase quarter-over-quarter [5][8][9] - Adjusted EBITDA for the same period was $5.7 million, compared to $3.4 million in Q3 2024, representing a 68% increase [5][10] - The Adjusted EBITDA margin was 36%, driven by strong contribution margins in Canada and continued growth in the US [5][10] Operational Highlights - The company deployed 469 new MobileyeZTM security towers in Q3 2025, bringing the total fleet to 2,351 towers, with a focus on US expansion [5][15] - The US market accounted for 36% of total revenue in Q3 2025, with strong demand for security towers and ongoing conversations with enterprise customers [3][5] - Fleet utilization rates remained strong, indicating effective operational management and customer demand [5][11] Strategic Initiatives - Zedcor is expanding its operations in the US, particularly in major Texas cities and other southern US markets, to meet growing demand for its services [15][24] - The company is diversifying its customer base across various industries, reducing reliance on any single customer [15][24] - Continued investment in manufacturing capabilities has allowed Zedcor to produce security towers at an increased rate, with a focus on managing supply chains effectively [15][26][27] Market Outlook - The company anticipates sustained growth driven by increased infrastructure spending and rising incidents of theft and vandalism across North America [24][26] - Zedcor's innovative technology and commitment to customer service position it well to disrupt the traditional security industry [24][26] - The company aims to maintain a Net Funded Debt to EBITDA ratio of no more than 3.00:1.00 and a Fixed Charge Coverage Ratio of no less than 1.15:1.00 [25]