It is possible that the Amazon Ring commercial security announcement could be a factor for ZDC's drop. AMZN revealed a commercial mobile security product at CES 2026, which could create increased competition for ZDC.
We also note that in ZDCs corporate update today, it appears that while weekly production capacity (50) of its towers expanded compared to prior quarter numbers, its fleet growth saw a mild decline its growth rate compared to prior quarters (Q1 +18% QoQ, Q2 +20% QoQ, Q3 +25% QoQ, Q4 (today's report) +18% QoQ). We do not view this as a glaring signal, but the slight contraction in growth could represent a signal fro some investors, but we view the production capacity increase and sales team growth as more of a positive signal than its deployed fleet numbers.