Business
Zedcor Inc. Reports Record Q1 2026 Revenue of $19.4 Million and Adjusted EBITDA of $7.6 Million
Revenue increased 69% and Adjusted EBITDA increased 86% year-over-year for Q1 2026; U.S. revenue ...
About this update from Zedcor Inc
[{"type":"text","content":"Zedcor Inc. Reports Record Q1 2026 Revenue of $19.4 Million and Adjusted EBITDA of $7.6 MillionRevenue increased 69% and Adjusted EBITDA increased 86% year-over-year for Q1 2026; U.S. revenue exceeded Canadian revenue for the first time ever as total MobileyeZTM fleet grew to 3,261 unitsQ1 2026 AT A GLANCEQ1 2026Q1 2025Change / CommentaryRevenue$19.4M$10.3MRecord quarterly revenue, +69% YoY and +9% QoQ, driven by U.S. expansion and new customer wins across logistics, retail, and core verticals.Adjusted EBITDA(1)$7.6M$4.1MRecord quarterly EBITDA, +86% YoY and +8% QoQ, driven by U.S. expansion and continued scale.Adjusted EBITDA(1) Margin39%36%300 bps of margin expansion YoY, driven by U.S. operating scale, strong Canadian contribution margins, and AI-at-the-edge cost efficiencies in monitoring.Adj. FCF Before Changes in Non-Cash Working Capital(1)$6.4M$3.6M+80% YoY; cash generation scaling alongside EBITDA, supporting continued reinvestment in fleet growth.MobileyeZTM Towers Manufactured47522943.2 towers/week vs. 17.6 in Q1 2025 - output more than doubled despite a 2-week production shutdown during the quarter due to facility move.MobileyeZTM Total Fleet Size3,2611,566+108% YoY; growth concentrated in U.S. markets, particularly Texas and the broader Sunbelt.Weekly Production Capacity~50~25Capacity roughly doubled with the opening of a larger Houston facility, supporting accelerated U.S. deployment in 2026.U.S. Fleet Size1,878 564+233% YoY; U.S. now represents ~58% of the total MobileyeZ fleet.Canadian Fleet Size1,3831,002+38% YoY; sustained growth across established Canadian branches U.S. Revenue Proportion50%29%U.S. revenue of $9.7M surpassed Canadian revenue for the first time in the Company's history.Net Debt (Net Cash)$31.6M($1.0M)Reflects Q1 2026 credit facility and equity raise to fund growth; $43.2M remains undrawn.1 See Financial Measures Reconciliations below Calgary, Alberta--(Newsfile Corp. - May 20, 2026) - Zedcor Inc. (TSXV: ZDC) (\"Zedcor\" or the \"Company\") is pleased to announce its financial and operating results for the three months ended March 31, 2026, highlighted by record quarterly revenue, record quarterly Adjusted EBITDA, continued MobileyeZTM fleet expansion, increased U.S. contribution, and continued strong performance in Canada.In Q1 2026, Zedcor generated revenue of $19.4 million, up 6...