ZenaTech set to expand in Florida with new acquisition

VANCOUVER - ZenaTech, Inc. (NASDAQ:ZENA), a company specializing in AI drone technology and Drone as a Service (DaaS) solutions, has announced its intent to acquire a Florida-based land survey engineering firm. This move marks the company’s second acquisition in the Southeast region and is part of its strategy to expand its national DaaS business model. The company, currently valued at $53.31 million in market capitalization, has shown revenue growth of 9.19% over the last twelve months. InvestingPro analysis reveals the stock has experienced significant volatility recently, with additional insights available to subscribers.

The acquisition is aimed at strengthening ZenaTech’s presence in Florida, a state identified by the company as strategic for its year-round flying conditions and favorable innovation environment. The region’s consistent drone regulations and existing government drone use in public safety, disaster response, and transportation monitoring are also seen as advantageous for ZenaTech’s growth. Financial data from InvestingPro shows the company maintains a healthy current ratio of 1.57, though it currently operates at a loss with negative EBITDA of $0.22 million.

ZenaTech’s CEO, Shaun Passley, Ph.D., underscored the significance of the acquisition, stating, "Having two locations in this region will serve as a launchpad to further regional development." He also emphasized the potential for growth paths in various commercial sectors such as agriculture, real estate, construction, and industrial inspection.

The company’s DaaS model is designed to offer customers access to advanced drone technology, including sensors or attachments, on a subscription or pay-per-use basis. This model is expected to reduce upfront costs for customers who would otherwise need to purchase, operate, and maintain their own drones.

Drones are increasingly being used for land surveys, offering more efficient data gathering over large areas with technologies like LiDAR and GPS systems. As per Fact.MR, the global drone surveying market is expected to reach over USD $8 billion by 2030, growing at a CAGR of 15-20%. While ZenaTech trades at a relatively high Price-to-Book ratio of 6.86, InvestingPro subscribers can access detailed valuation metrics and 8 additional ProTips to make informed investment decisions.

ZenaTech, with its portfolio of drone solutions and enterprise software, operates through seven global offices and is expanding its DaaS business model and global partner network. The company’s ZenaDrone 1000 is utilized in agriculture and defense, while the IQ Nano and IQ Square drones serve in inventory management and land surveying applications, respectively.

This expansion strategy reflects ZenaTech’s ambition to capitalize on the growing demand for drone technology in various industries. The information for this article is based on a press release statement.

In other recent news, ZenaTech, Inc. has announced several significant developments. The company has completed the design and production model of its third-generation ZenaDrone 1000, specifically tailored for the U.S. defense and commercial sectors, marking a milestone in its drone technology advancement. Additionally, ZenaTech has signed a Letter of Intent to acquire an Arizona-based land survey company, aiming to boost its Drone as a Service (DaaS) business model in the Southwest region. This acquisition is expected to enhance the delivery of AI drone solutions to businesses and government entities.

In a strategic move, ZenaTech is expanding its presence in the East Asian drone markets through its Taiwan subsidiary, Spider Vision Sensors, by increasing partnerships with local component manufacturers. This expansion is part of the company’s strategy to cater to the growing demand for military defense and commercial drones in Taiwan, Japan, and South Korea. Furthermore, ZenaTech is advancing its Quantum Computing Sky Traffic project, which aims to utilize AI drones and quantum computing for traffic management and weather forecasting. The company plans to hire additional quantum, AI, and hardware engineers to support this initiative.

ZenaTech has also announced the expansion of its workforce to accelerate drone production, adding 35 new positions to its subsidiary, ZenaDrone, to meet increased production demands. The company has conducted paid trials with the U.S. Air Force and Navy, showcasing its drones’ logistics and transportation capabilities. These developments reflect ZenaTech’s ongoing efforts to innovate and expand its footprint in the competitive global drone market.

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