Zedcor Provides Operations Update, Highlighting Record Quarterly Growth of Fleet Size, Geographic Expansion in the U.S. and Significant Manufacturing Milestones
Calgary, Alberta--(Newsfile Corp. - January 14, 2025) - Zedcor Inc. (TSXV: ZDC) (the "Company" or "Zedcor") is pleased to provide a year-end operations update, demonstrating continued execution on growth of fleet size, ongoing U.S. expansion, and progress on manufacturing activities. Specifically, the Company highlights:
MobileyeZ™ tower fleet hit 1,333 at year-end 2024, a record quarterly expansion of 182 units from the end of the third quarter 2024, with greater than 80% of new units allocated to U.S. operations
Expanded to Atlanta in Q4 2024, while expansion in other US regions continues to progress with improved presence in Houston, Dallas, San Antonio and Austin, as well as Denver, and Phoenix
Currently at 97% utilization in the U.S., with sustained strong utilization in Canada over 90%, as the Company remains focused on highly profitable growth
Manufacturing capabilities have improved markedly, averaging more than 15 units per week in Q4 and the Company has the ability to manufacture 100 towers per month in Q1 2025
Zedcor's fleet size expanded significantly in Q4 2024, exiting December at 1,333, representing 62% growth year-over-year. This growth was driven by strong, sustained demand in both Canada and the U.S., while pent-up demand from its diversified customer base in the U.S. accounted for more than 80% of the tower fleet in Q4 2024.
Zedcor's U.S. expansion continues to advance, as growth has accelerated in Texas with 100 towers fulfilled in Q4 2024 from its operations in Houston, Dallas, San Antonio and Austin. Additionally, after entering Denver in Q2 2024, 45 units were fulfilled in the Q4 2024, while the Company also recorded its first tower sales in Phoenix and Las Vegas during the quarter. The expansion continued into Atlanta and planning has commenced to enter major metros in Florida in 2025.
Manufacturing capabilities improved significantly during the quarter, averaging more than 15 units per week in Q4 2024, with the capability to manufacture 100 towers per month in Q1 2025. This will provide the Company with the ability to add its targeted 1,200 new units into the fleet by the end of 2025. Zedcor has expanded the manufacturing operations in Houston by doubling the floor space in order to streamline assembly and will open a new, state-of-the-art 24/7 Live, Verified Monitoring center in Houston in the first half of 2025.
Todd Ziniuk, President and CEO of Zedcor, commented: "We delivered another quarter of accelerated sequential growth, while prudently rolling out operations in new geographies in the U.S. We have a proven template for our hub and spoke model, serving customers from centralized manufacturing facilities with local sales and servicing teams. This allows us to deliver industry-leading solutions, at the highest level of quality and service. Our 1,200 tower growth target for 2025 allows us to supply anticipated demand. We are also excited about expanding our enterprise sales presence in 2025 and our 1,200 tower growth target doesn't consider contributions from these potential customers. We are engaging in discussions with some of the largest corporations in the U.S. to discuss our competitive differentiation and how our proactive solutions can help to solve security challenges."
About Zedcor Inc.
Zedcor Inc. is disrupting the traditional physical security industry through its proprietary MobileyeZTM security towers by providing turnkey and customized mobile surveillance and live monitoring solutions to blue-chip customers across North America. The Company continues to expand its established platform of over 1,300 MobileyeZ™ towers in Canada and the United States, with emphasis on industry leading service levels, data-supported efficiency outcomes, and continued innovation. Zedcor services the Canadian market through equipment and service centers currently located in British Columbia, Alberta, Manitoba, and Ontario. The Company continues to advance its U.S. expansion which now has the capacity to service markets throughout the Midwest with locations throughout Texas and in Denver, Colorado, with a location in Phoenix, Arizona and Atlanta, Georgia anticipated in the first half of 2025.
Forward-Looking Statements and Information
Certain statements included in this press release constitute forward-looking statements or forward-looking information. Forward-looking statements or information can be identified by terminology such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "budget", "should", "project", or similar words suggesting future outcomes or expectations. In particular, forward-looking statements and information contained in this press release, include, but are not limited to, the expansion of Zedcor's Security and Surveillance business, including the addition of a new monitoring centre in Houston, Texas, fleet expansion of 1,200 units in 2025, marketing of security services and expansion of Zedcor's customer base, including to enterprise customers, expansion of the Company's service offering to other geographic regions, including Phoenix, Arizona, Las Vegas, Nevada and in major metropolitan centres in Florida. Although the Company believes that the expectations implied in such forward-looking statements or information are reasonable, undue reliance should not be placed on these forward-looking statements or information because the Company can give no assurance that such statements or information will prove to be correct. Forward-looking statements or information are based on current expectations, estimates and projections that involve a number of assumptions about the future and uncertainties, including the following: current forecasts and anticipated utilization rates; the availability of debt and equity financing; the completion of the monitoring centre facility in Houston, Texas and the timing thereof; the ability of the Company to obtain an adequate supply of the equipment required to construct towers; the availability of skilled personnel; and the level of competition in the marketplaces and industries in which the Company operates. Although management of the Company believes these expectations and assumptions reflected in these forward-looking statements or information to be reasonable, there can be no assurance that any forward-looking statements or information will be proved to be correct. Actual results may differ materially from those anticipated in such statements or information as a result of risk factors including, but not limited to, the following: the ability of the Company to obtain debt and equity capital on terms acceptable to the Company; economic downturns or unfavorable market conditions, including from inflation, rising interest rates or supply chain disruptions and/or political or market uncertainty; customer acquisition and retention risks; the existence of competitive risks inherent in the Company's business; fluctuations in foreign currency exchange rates; fluctuations in interest rates; stock market volatility; and third party credit risk.
For this purpose, any statements or information contained herein that are not statements or information of historical fact may be deemed to be forward-looking statements or information and readers should not place undue reliance on such forward-looking statements or information. The forward-looking statements or information contained in this press release are made as of the date hereof and the Company assumes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new contrary information, future events or any other reason, unless the Company is required by any applicable securities laws. The forward-looking statements or information contained in this press release are expressly qualified by this cautionary statement.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
