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  5. ZDC: Please comment on the Earnings for Zedcor. [Zedcor Inc.]
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Q: Please comment on the Earnings for Zedcor.
Asked by Valter on November 13, 2025
5i Research Answer:

Sales were a record $16.0M, representing an increase of 75% year-over-year and Adjusted EBITDA was $5.7M, an increase of 68% year-over-year. It deployed 469 MobileyeZTM security towers in the quarter, with a focus on US expansion. US sales were 36% of total sales and and it is demonstrating high fleet utilization and manufacturing scale which is helping to sustain margins despite increased costs. There is some near-term pressure on profits due to a ramp-up in investments, but overall this was a strong quarter. We think that it is down today as the market was pricing in good results for the name, and it trades at an expensive forward P/E of 155X. We think it might consolidate here, but for a long-term hold, we would continue to be comfortable with this name.