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Zedcor Inc.: Building a North American Mobile Security Tower Fleet with Live, Verified Monitoring

Maker Capital Research2026-10-2710 min read
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Mobile Security Services TSX-V: ZDC

Q2 2026 revenue
C$22.7M
vs C$13.5M in Q2 2025 (Aug 12, 2026)
Tower fleet
3,850+
at Jun 30, 2026, utilization above 90%
U.S. revenue share
~54%
of Q2 2026 revenue; C$12.2M, up 180%
Credit facility
C$100M
committed, National Bank of Canada (Oct 13, 2026)

Three things to know

  1. Q2 2026 revenue rose to $22.7 million from $13.5 million a year earlier, with Adjusted EBITDA of $8.8 million and a net loss of $2.3 million (release, August 12, 2026).
  2. The fleet passed 3,850 towers at June 30, 2026, up more than 104% year over year, and U.S. revenue for the first half of 2026 was $21.9 million, above the $21.2 million for all of 2025 (release, August 12, 2026).
  3. Growth is funded mainly with bank debt: net debt was $46.6 million at June 30, 2026, versus $12.2 million a year earlier, and the committed revolver was increased to $100 million on October 13, 2026.

Company Profile

Zedcor Inc. (TSX-V: ZDC) is an Alberta corporation providing technology enabled physical security services in Canada and the United States. According to its Q2 2026 MD&A, it offers live monitoring through its proprietary MobileyeZ security towers, live monitoring of fixed sites, and security personnel.

The core product is the MobileyeZ tower, which the Company manufactures at its Houston facility. Video is streamed to Zedcor's central monitoring station, where alarms are live verified under its Live, Verified Video Monitoring service. Wall-mounted ZBox deployments had passed 225 in Canada, per the April 8, 2026 release.

The Company serves Canada from service centres in British Columbia, Alberta, Manitoba and Ontario, and describes its U.S. service centres as able to service markets nationwide (October 13, 2026 release).

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