Also trades as: ZDCAF (OTC) · $vol 0M

C$5.23 ($3.67)

-0.05 (-0.95%)

Weekly Expected Move ±5.3%

C$5 C$5 C$5 C$5 C$6

TSXV · Industrials · Security & Protection Services · Tech Score Buy · Power 63 · C$580.2M mcap · 89M float · 0.244% daily turnover

Analysis Technicals Weather Peers

Revenue

$33M +32.6% ▲

5Y CAGR: +14.2%

Gross Profit

$19M +56.2% ▲

5Y CAGR: +31.8%

Operating Income

$3M -13.0% ▼

Net Income

$2M -38.6% ▼

EPS (Diluted)

$0.02 -48.1% ▼

EBITDA

$11M +18.1% ▲

5Y CAGR: +27.4%

View Full Income Statement

Line Item	FY2020	FY2021	FY2022	FY2023	FY2024
Revenue	$14M	$14M	$22M	$25M	$33M
YoY Growth	-18.9%	-1.5%	+63.1%	+12.6%	+32.6%
Cost of Revenue	$9M	$7M	$11M	$13M	$14M
Gross Profit	$4M	$6M	$11M	$12M	$19M
Gross Margin	32.2%	45.6%	48.7%	49.8%	58.6%
R&D Expenses	$0	$0	$0	$0	$0
SG&A Expenses	$3M	$3M	$5M	$9M	$14M
Operating Expenses	$4M	$4M	$7M	$9M	$16M
Operating Income	$293K	$2M	$5M	$4M	$3M
Operating Margin	2.1%	14.4%	22.4%	15.4%	10.1%
Interest Expense	$3M	$3M	$1M	$2M	$2M
Income Before Tax	-$5M	-$2M	$4M	$3M	$2M
Tax Expense	-$88K	$0	-$2M	$0	$0
Net Income	-$5M	-$4M	$6M	$3M	$2M
Net Margin	-34.0%	-28.8%	27.1%	10.7%	4.9%
EPS (Diluted)	$-0.08	$-0.07	$0.08	$0.03	$0.02
EBITDA	$4M	$4M	$8M	$9M	$11M
Shares Outstanding	55M	58M	73M	79M	93M

Line Item	FY2024 Q3	FY2024 Q4	FY2025 Q1	FY2025 Q2	FY2025 Q3	FY2025 Q4	FY2026 Q1	FY2026 Q2
Revenue	$9M	$10M	$11M	$14M	$16M	$18M	$19M	$23M
Cost of Revenue	$4M	$4M	$4M	$5M	$6M	$8M	$9M	$11M
Gross Profit	$5M	$7M	$7M	$8M	$10M	$10M	$10M	$12M
Gross Margin	59.2%	65.8%	63.6%	62.8%	63.5%	56.1%	52.0%	51.3%
R&D Expenses	$0	$0	$0	$0	$0	$0	$0	$0
SG&A Expenses	$4M	$5M	$5M	$6M	$8M	$9M	$9M	$13M
Operating Expenses	$4M	$5M	$6M	$7M	$9M	$9M	$9M	$13M
Operating Income	$1M	$1M	$1M	$1M	$784K	$999K	$1M	-$1M
Operating Margin	11.9%	13.9%	9.7%	7.4%	4.9%	5.6%	5.4%	-5.5%
Interest Expense	$391K	$504K	$438K	$531K	$516K	$915K	$1M	$1M
Income Before Tax	$310K	$380K	$622K	$460K	$131K	-$247K	-$478K	-$2M
Tax Expense	$0	$0	$0	$0	$0	-$2M	-$200K	$204K
Net Income	$310K	$380K	$622K	$460K	$131K	$2M	-$278K	-$2M
Net Margin	3.4%	3.7%	5.4%	3.4%	0.8%	8.4%	-1.4%	-10.1%
EPS (Diluted)	$0.00	$0.00	$0.01	$0.00	$0.00	$0.01	$-0.00	$-0.02
EBITDA	$2M	$3M	$3M	$4M	$4M	$5M	$6M	$5M
Shares Outstanding	101M	101M	107M	112M	112M	106M	108M	111M

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