Business
Zedcor Inc. Reports Quarterly Results, Including $10.3 million in Revenue and $4.0 million in Adjusted EBITDA for the Fourth Quarter 2024
Calgary, Alberta--(Newsfile Corp. - April 10, 2025) - Zedcor Inc. (TSXV: ZDC) ("Zedcor" or the "C...
About this update from Zedcor Inc
[{"type":"text","content":"Zedcor Inc. Reports Quarterly Results, Including $10.3 million in Revenue and $4.0 million in Adjusted EBITDA for the Fourth Quarter 2024Calgary, Alberta--(Newsfile Corp. - April 10, 2025) - Zedcor Inc. (TSXV: ZDC) (\"Zedcor\" or the \"Company\") is pleased to announce its financial and operating results for the three and twelve months ended December 31, 2024. Highlights include:Record quarterly revenue of $10.3 million, representing an increase of 78% year-over-year and 12% quarter-over-quarterRecord quarterly Adjusted EBITDA of $4.0 million, representing an increase of 185% year-over-year and 18% quarter-over-quarterAdjusted EBITDA margin increased to 39%, despite significant scaling costs out of the U.S., driven by strong contribution margins in Canada and increased operational efficiency from its AI at-the-edge camerasDeployed 186 MobileyeZTM security towers during the three months ended December 31, 2024 and 512 MobileyeZTM security towers during the year ended December 31, 2024; these security towers were deployed throughout North America and realized total fleet utilization rates above 90% for the quarter U.S. revenue exceeded 20% of total revenues for Q4 2024The Company expects to be largely insulated from tariffs as manufacturing is based in Houston, Texas and camera costs have been locked in for 2025, while there have been no signs of demand waning, despite the geopolitical risks in the marketZedcor generated revenue of $10.3 million and $33.0 million for the three and twelve months ended December 31, 2024, respectively, and Adjusted EBITDA of $4.0 million and $12.0 million. Revenue and Adjusted EBITDA generated in the quarter were both record highs for the Company. Furthermore, the Company successfully continued its customer diversification and revenue growth efforts during the quarter, which was reflected in the revenue and Adjusted EBITDA results. Zedcor generated record daily revenue from its fleet of MobileyeZTM security towers while successfully deploying 186 new MobileyeZTM towers throughout North America, with growth focused in Texas. Notably, fleet-wide MobileyeZTM utilization rate exceeded 90% for the quarter.The U.S. accounted for more than 20% of the Company's fourth quarter revenue. The utilization rate for the fleet of security towers in the U.S. is near 100% capacity and the Company is starting to build ...