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ZenaTech Reports Over 500% Increase in Year-Over-Year Revenue for Second Quarter of 2025 and Over 250% Increase in Revenue for the First Six Months of Year
Globenewswire· 2025-08-12 11:30
Core Insights - ZenaTech, Inc. reported a transformative second quarter in 2025, achieving a 500% year-over-year revenue increase and a 250% revenue increase for the first half of the year compared to the same period last year [1][6][9] Financial Overview - Record revenue for Q2 2025 reached $2.24 million, a 503% increase from $371,049 in Q2 2024 [6] - Revenue for the first half of 2025 was $3.38 million, up 251% from $962,428 for the same period in 2024 [6] - Drone as a Service (DaaS) contributed $1.98 million in revenue for the first half, alongside $1.39 million from enterprise SaaS [6] - Cash reserves increased to $10.29 million as of June 30, 2025, up from $3.75 million at year-end 2024 [6] - Total assets grew to $52.94 million from $34.65 million at December 31, 2024, reflecting the impact of acquisitions and technology investments [7] Operational Highlights - The company completed six acquisitions in the US land surveying and engineering sector, creating a nationwide platform for drone-powered solutions [6][7] - ZenaTech launched Zena AI, a specialized AI development center for defense applications, and submitted applications for Green UAS certification for its drones [4][6] - The company is expanding its manufacturing capabilities in the US to meet growing demand, including plans to triple its facility size in Phoenix [13] Market Position and Outlook - ZenaTech is well-positioned to expand its range of drone services in the US and globally, with a strong platform for long-term growth [9] - The demand for drone technology and software solutions is rapidly increasing, supported by new government policy directives in the US [9] - The company aims to achieve sustainable profitability as drone adoption accelerates globally, with a pipeline of target acquisitions to reach a total of 25 DaaS-related companies by mid-2026 [13]
ZenaTech Reports Nearly Double Revenue Year-Over-Year for the First Quarter of 2025
Globenewswire· 2025-05-15 11:30
Core Insights - ZenaTech, Inc. reported a strong financial performance in Q1 2025, with revenues nearly doubling, up 92% to $1.13 million compared to $591,379 in Q1 2024, driven by acquisitions and organic growth in software and drone segments [3][6] - The company launched its Drone as a Service (DaaS) business segment, aiming for a national and global presence [3][4] - ZenaTech is focused on long-term growth investments, which led to an increase in general and administrative expenses to $5.75 million in Q1 2025 from approximately $0.7 million in Q1 2024 [6] Financial Performance - Total revenues for Q1 2025 reached $1.13 million, a 92% increase from $591,379 in Q1 2024 [6] - General and administrative expenses rose to $5.75 million in Q1 2025, primarily due to investments in sales and marketing, new hires, and professional services [6] Business Development - The DaaS segment grew through the acquisition of two land survey drone servicing companies, Weddle Surveying and KJM Land Surveying, and five additional Letters of Intent for acquisitions were signed during the quarter [6] - ZenaTech acquired Othership, a UK workplace management software company, to enhance its enterprise SaaS offerings [6] Product Development - ZenaDrone finalized the third-generation design of the ZenaDrone 1000 and moved the IQ Square drone from prototype to manufacturing [6] - The company is developing a heavy-lift gas-powered ZD 1000 model for US defense applications and has commenced testing on a new high-density drone battery and proprietary communications system [6] Strategic Positioning - ZenaTech aims to disrupt legacy businesses, such as land surveys, through its DaaS model and has a pipeline of over 20 acquisitions planned for the next 12 months [4] - The company is preparing for Green UAS and Blue UAS certification to sell to the US Military and is implementing necessary cybersecurity practices [6]