What happened
ZenaTech, Inc. (NASDAQ: ZENA) said second-quarter revenue rose 316% year over year to C$9.3 million. First-half revenue was C$17.7 million, up 425% from the same period last year, in the October 1 shareholder letter from CEO Shaun Passley, Ph.D. Drone as a Service contributed C$8.6 million in the quarter, or nearly 93% of total revenue, and C$16.4 million in the first half.
The company said signed acquisition offers in the U.S., Canada and Australia could add about C$40 million in revenue during the first 12 months after closing if completed. ZenaTech said it closed four land survey and legacy service business acquisitions in Q2 and had 24 cumulative DaaS acquisitions at June 30, rising to 29 to date.
Key numbers
| Metric | Latest | Change | Source |
|---|---|---|---|
| Second-quarter revenue | C$9.3 million | +316% | SEC 6-K Exhibit 99.1 |
| First-half revenue | C$17.7 million | +425% | SEC 6-K Exhibit 99.1 |
| Drone as a Service revenue in Q2 | C$8.6 million | SEC 6-K Exhibit 99.1 | |
| Cash at quarter end | C$12.2 million | SEC 6-K Exhibit 99.1 | |
| Total assets | C$149.3 million | +50% | SEC 6-K Exhibit 99.1 |
| Shareholders' equity | C$91.4 million | +34% | SEC 6-K Exhibit 99.1 |
Why it matters
OptimistFi's case is that ZenaTech needs repeatable commercial demand before financing pressure gets more expensive, and this filing improves that case on growth. First-half revenue of C$17.7 million was C$4.8 million higher than full-year 2025 revenue of C$12.9 million. The company also said total assets rose 50% to C$149.3 million and shareholders' equity rose 34% to C$91.4 million.
ZenaTech ended the quarter with C$12.2 million in cash, C$34.6 million in combined cash and marketable securities, and C$24.3 million in working capital.
The risk is concentration. DaaS generated nearly 93% of quarterly revenue, and the extra revenue from the signed offers depends on closing. Enterprise SaaS revenue was C$702,315 in Q2 and C$1.29 million in the first half, compared with C$1.39 million a year earlier. ZenaTech said it has posted seven straight quarters of sequential revenue growth since Q4 2024.
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What's next
ZenaTech said ZenaDrone 2000 flight testing is expected to begin in the first quarter of 2027. That would support the defense pipeline. A delay would push that revenue path further out. The company also said it expects more updates on ZenaDrone 2000 as milestones are reached and the prototype build is finished. ZenaTech said it is working to close the signed acquisition offers in the U.S., Canada and Australia.
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Sources
- SEC 6-K Exhibit 99.1 — ZenaTech Letter to Shareholders Outlines 316% Q2 Revenue Growth and Seventh Consecutive Quarter of Sequential Growth
- SEC 6-K Exhibit 99.2 — ZenaTech Advances ZenaDrone 2000 Heavy-Lift Interceptor Toward Flight Testing for Counter-UAS and Maritime Defense
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Originally published on OptimistFi, evidence-first equity research. More at optimistfi.com.
