ZenaTech expands drone services with Florida acquisitions

PALM BEACH - ZenaTech, Inc. (NASDAQ:ZENA) announced Thursday it has signed agreements to acquire two Florida-based companies as part of its strategy to expand its Drone as a Service (DaaS) footprint into new sectors including aviation, defense, and power washing. The drone industry continues to show robust growth, with leading players like AeroVironment showing 14.5% revenue growth in the last twelve months, according to InvestingPro data.

The first acquisition targets a Florida power wash services company operating across multiple counties, which will serve as ZenaTech’s entry point into the U.S. power washing sector. The company plans to use this platform to scale drone-enabled power wash services for airplane maintenance, aviation facilities, and defense infrastructure. This expansion mirrors successful strategies in the drone sector, where established players maintain healthy financial profiles - InvestingPro data shows industry leaders typically maintain strong liquidity positions, with current ratios above 3.5.

The second acquisition involves a land surveying firm with over 30 years of history serving Florida developers and homebuilders. This addition aims to enhance ZenaTech’s presence in the Southeast region and expand drone services to additional construction and real estate customers.

"When finalized, these acquisitions will provide diversification and future revenue streams for Drone as a Service across our Southeast and national networks," said Shaun Passley, Ph.D., ZenaTech CEO, according to a company press release.

ZenaTech has already completed eight U.S. acquisitions toward its goal of establishing 25 Drone as a Service locations nationwide by mid-2026. The company’s business model provides on-demand access to drone services for surveying, inspections, maintenance, and other applications without customers needing to invest in hardware, maintenance, or regulatory compliance.

The company’s strategy involves acquiring established firms that can benefit from drone technology innovation while bringing existing customers and recurring revenue streams. The acquisitions are expected to unlock significant revenue potential and diversification across the Southeast region and nationally.

The drone industry continues to expand across government, military, and commercial sectors, with applications ranging from infrastructure inspection and land surveying to environmental monitoring and emergency response. Market leaders in the space maintain robust gross margins around 39%, according to InvestingPro data, indicating strong profit potential in the growing drone services market. For deeper insights into the drone industry and comprehensive analysis of over 1,400 stocks, including detailed Pro Research Reports, consider exploring InvestingPro’s extensive financial metrics and expert analysis tools.

In other recent news, AeroVironment has delivered its P550 unmanned aircraft systems to the U.S. Army as part of the Long-Range Reconnaissance program. The delivery includes multiple systems and training for Army personnel. AeroVironment also announced the completion of a public offering of additional shares, raising $131.3 million in gross proceeds, with net proceeds reported at approximately $126.3 million. Additionally, AeroVironment has partnered with SNC to develop integrated air and missile defense capabilities, focusing on protecting high-value locations against aerial threats. Analysts at Needham have initiated coverage on AeroVironment with a Buy rating, citing the potential in the domestic unmanned aerial systems market. Canaccord Genuity has reiterated its Buy rating for AeroVironment, maintaining a positive outlook on the company’s prospects. These developments highlight AeroVironment’s ongoing strategic initiatives and collaborations in defense technology.

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