ZenaTech to acquire Florida flight school for drone pilot training

VANCOUVER - ZenaTech, Inc. (NASDAQ:ZENA) announced Thursday it has signed an offer to acquire a Florida-based FAA-certified flight school that trains professional pilots for FAA Part 61 certification and complex drone operations. The company, which has seen impressive revenue growth of 126.52% over the last twelve months with revenues reaching $3.21 million, continues its expansion strategy despite challenging market conditions. According to InvestingPro analysis, the stock currently trades at $5.29, showing significant volatility with a -42.42% year-to-date return.

The acquisition aims to build an internal team of Part 61-certified pilots as drone regulations evolve, particularly for beyond visual line of sight (BVLOS) operations. This certification level exceeds the more common Part 107 commercial drone credential, which requires only a written test without flight testing.

"This acquisition allows us to train new pilots for our Drone as a Service business and enables our drone command centers to have qualified pilots to take on specialized commercial and major US government and military contracts," said Shaun Passley, ZenaTech CEO, in the press release.

The company noted that certain government and military drone operations, especially those involving BVLOS flights or restricted airspace, require a licensed manned-aircraft pilot in command. This requirement exists because such operations involve complex coordination with air traffic control.

ZenaTech’s primary drone, the ZenaDrone 1000, is a medium-sized vertical takeoff and landing craft capable of carrying approximately 40 kg. The company reports completing paid trials with both the US Air Force and Navy Reserve for critical field cargo delivery applications.

The acquisition is presented as a strategic move to prepare for anticipated regulatory changes as the FAA develops new frameworks for BVLOS operations and specialized cargo drones.

ZenaTech describes itself as a technology company specializing in AI drones, Drone as a Service, enterprise SaaS, and quantum computing solutions with operations across North America, Europe, Taiwan, and UAE. While the company maintains a strong liquidity position with a current ratio of 6.78, InvestingPro data indicates an overall WEAK financial health score, suggesting potential challenges ahead. For detailed analysis and additional insights, including 12+ exclusive ProTips about ZenaTech’s financial position, consider exploring InvestingPro.

The financial terms of the acquisition were not disclosed in the company’s statement. Based on current market analysis from InvestingPro, ZenaTech’s stock appears to be trading above its Fair Value, suggesting investors might want to carefully evaluate the timing of any investment decisions.

In other recent news, ZenaTech, Inc. announced that its entire drone portfolio is now eligible for direct purchase by military field commanders due to a new Department of Defense policy directive. This directive classifies ZenaTech’s drones as Group 1-2 expendable assets, allowing frontline commanders to acquire them without requiring Green or Blue UAS certification. Additionally, ZenaTech is expanding its team for the Clear Sky initiative, which aims to enhance weather forecasting through AI drone swarms and quantum computing. The company plans to hire at least ten specialized engineers to expedite the development of this project. The Clear Sky initiative is anticipated to launch in a beta version soon. ZenaTech’s CEO, Shaun Passley, highlighted the project’s goal to improve predictions of localized and extreme weather events. This development comes as weather disasters in 2024 caused approximately $417 billion in global damages, highlighting the importance of improved forecasting methods.

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