Zedcor Inc
XTSX:ZDC

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Zedcor Inc
XTSX:ZDC
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Price: 5.85 CAD Market Closed
Market Cap: CA$617.6m

Zedcor Inc
Investor Relations

Zedcor, Inc. engages in the equipment rental and the waste management business. The company is headquartered in Calgary, Alberta. The company went IPO on 2011-10-03. The firm's Security & surveillance provides technology based remote surveillance, live monitoring and security personnel to customers. The company offers Mobile Surveillance, Fixed Surveillance, Sensor Technology, Security Guards, and Gate & Access Control. The firm's serves sectors, such as construction, mining, oil and gas, pipelines and facilities, office, and commercial and retail.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Nov 13, 2025
AI Summary
Q3 2025

Record Revenue: Zedcor posted record Q3 2025 revenue of $16 million, up 75% year-over-year and 18% quarter-over-quarter.

Strong Profitability: Adjusted EBITDA reached $5.7 million for the quarter, a 68% increase year-over-year, with EBITDA margins steady at 36%.

Tower Growth: The company produced 469 towers in Q3, averaging over 36 per week, and expects to reach the high end of its 1,400 tower year-end target.

US Expansion: Zedcor saw significant growth in both the US and Canada, nearly doubling its US sales team and expanding its tower fleet.

Margin Outlook: Gross margins hit 64%, but management signaled possible near-term margin pressure as US hiring and monitoring center investments ramp up.

Liquidity Boost: The company expanded its banking facility to a $50 million revolver with a $25 million accordion, freeing up cash for growth.

Utilization & Demand: Tower utilization remains robust (above 90%), with strong ongoing demand from both new and existing clients.

Guidance on Track: Management affirmed that growth and performance are tracking to expectations and sees continued runway in all major markets.

Key Financials
Revenue
$16 million
Recurring Revenue
steady (Q3 2025)
Adjusted EBITDA
$5.7 million
EBITDA Margin
36%
Gross Margin
$10.2 million (64% of revenue)
Tower Production (Q3)
469 towers
Average Weekly Tower Production
over 36 towers per week
Tower Fleet Size
over 2,350 at quarter end
Revenue (Nine Months Ended Sep 30, 2025)
$41 million
Adjusted EBITDA (Nine Months Ended Sep 30, 2025)
$14.8 million (36% of revenue)
Net Debt
just under $22.7 million
Net Debt to LTM EBITDA
1.21
Cash Balance (Q3 end)
$1.5 million
Banking Facility
$50 million revolver with $25 million accordion
PP&E
$78.2 million
Adjusted Operating Cash Flow (Q3)
$5.1 million
Earnings Call Recording
Other Earnings Calls

Management

Mr. Todd Michael Ziniuk
President, CEO & Director
No Bio Available
Mr. Amin Ladha
Chief Financial Officer
No Bio Available
Mr. James Leganchuk
Chief Revenue Officer
No Bio Available
Mr. Tony Ciarla
Executive Vice President
No Bio Available
Jan M. Campbell
Corporate Secretary
No Bio Available

Contacts

Address
ALBERTA
Calgary
400, 151 Canada Olympic Road SW
Contacts
+14039305430.0
www.cerfcorp.com