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VANCOUVER - ZenaTech, Inc. (NASDAQ:ZENA), a $94 million market cap drone technology company whose stock has gained strongly over the past three months, announced Tuesday it has submitted a Green UAS application for its IQ Nano drone and completed its sixth U.S. land survey company acquisition. According to InvestingPro data, the company has shown impressive revenue growth of nearly 25% in the past year, though 12 more exclusive ProTips are available to subscribers.
The Green UAS application, if approved, would add ZenaTech’s IQ Nano drone to the pre-approved procurement list for U.S. Defense and government buyers. According to the company, the certification process typically takes several months and is administered by the AUVSI drone association. Analysts tracking the company have set an $8.98 price target, suggesting significant upside potential from current levels.
Green UAS certification is required by government buyers seeking secure, non-Chinese systems. ZenaTech described it as a steppingstone to Blue UAS certification, which the company plans to pursue next for access to sensitive government and military facilities.
The company also acquired Empire Land Surveying, a Pensacola, Florida-based firm with over 20 years of experience in topographic, boundary, and control surveys. This acquisition follows ZenaTech’s January 2025 purchase of KJM Land Surveying and expands its presence in Northwest Florida.
The IQ Nano indoor drone, available in 20×20-inch and 30×30-inch sizes, is designed for autonomous inspections including barcode scanning, facility maintenance, security monitoring, and 3D indoor mapping. The drone weighs approximately 1.5kg with a flight time of at least 20 minutes before requiring recharging.
ZenaTech offers these capabilities through its Drone as a Service (DaaS) business model, providing subscription-based or pay-per-use access to drone technology without customers needing to purchase, operate, or maintain the equipment themselves.
The company stated it plans to complete approximately 20 more land survey company acquisitions in the next 12 months as part of its strategy to build a national DaaS business.
This information is based on a press release statement issued by ZenaTech. InvestingPro analysis indicates the company currently trades below its Fair Value, though it maintains a moderate debt level with a current ratio of 1.34. Investors seeking deeper insights into ZenaTech’s financial health and growth prospects can access comprehensive analysis through InvestingPro’s advanced metrics and tools.
In other recent news, ZenaTech, Inc. has announced several strategic moves and product developments. The company has signed offers to acquire land surveying firms in both North Carolina and Virginia. These acquisitions aim to expand ZenaTech’s Drone as a Service (DaaS) business model in these regions, enhancing its capabilities in land surveying and civil engineering. Financial terms of these acquisitions were not disclosed. Additionally, ZenaTech launched the ZenaDrone IQ Nano, a compact autonomous drone designed for defense applications, featuring capabilities such as HD and thermal imaging, and AI-powered anomaly detection.
ZenaTech is also accelerating the development of its Counter-Unmanned Aircraft System technology for the ZenaDrone 1000 platform, following a White House executive order emphasizing the need for U.S.-made drone systems. The company plans to file a patent for this technology and expand its engineering and defense teams. In response to the same executive order, ZenaTech is ramping up production of its ZenaDrone 1000 and IQ series drones. This move is expected to meet increased demand as the order aims to streamline FAA approvals and prioritize domestic drones for government procurement. These developments highlight ZenaTech’s ongoing efforts to enhance its product offerings and expand its market presence.
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