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PHOENIX - ZenaTech, Inc. (NASDAQ:ZENA), a $158 million market cap drone technology company whose stock has surged over 64% in the past week, announced Tuesday plans to accelerate expansion of its Phoenix, Arizona-based facilities, tripling the square footage to enable full US drone manufacturing, assembly and testing. According to InvestingPro analysis, the company appears overvalued at current levels.
The company cited recent US policy directives from the White House, Department of Defense, and the "One Big Beautiful Bill" as catalysts for the earlier-than-expected expansion. These policy changes have unlocked federal funding for domestic production, reduced certification barriers, and streamlined procurement processes for drone systems. InvestingPro data shows ZenaTech’s revenue grew 24.5% in the last twelve months, with analysts expecting continued sales growth this year.
"These recent actions represent a historic turning point that gives us the confidence to start substantial facility expansion now," said Shaun Passley, Ph.D., ZenaTech CEO, according to the company’s press release.
ZenaTech is seeking a larger facility to house its Phoenix team, which it plans to grow from seven to approximately 30 employees over the next six to 12 months. This expansion will complement the company’s existing manufacturing facility in Sharjah, UAE.
The new facility will produce ZenaTech’s portfolio of defense and commercial drone offerings, including the ZenaDrone 1000, a medium-sized vertical takeoff and landing (VTOL) drone capable of lifting approximately 40 kg. The company will also manufacture its IQ Square drone for land surveys and outdoor inspections, and the IQ Nano compact indoor drone designed for GPS-denied environments.
ZenaTech also offers Drone as a Service (DaaS), providing government, defense, and commercial users with fully managed drone operations through a subscription model.
The company has completed paid trials with both the US Air Force and Navy Reserve for field cargo delivery applications, according to the statement based on a press release. While ZenaTech’s current ratio of 1.34 indicates adequate liquidity to fund operations, InvestingPro analysis reveals the company is not yet profitable, with analysts forecasting continued losses this year. InvestingPro subscribers have access to 12 additional key insights about ZenaTech’s financial health and growth prospects.
In other recent news, ZenaTech Inc. has made significant strides with the development of its first quantum computing prototype aimed at enhancing AI drone data analysis. This innovation forms part of the company’s Clear Sky project, which focuses on weather forecasting using AI drones. ZenaTech’s internal testing has shown high accuracy in weather predictions when compared to trusted platforms. In addition to this technological advancement, ZenaTech has signed an offer to acquire a California-based civil engineering and land surveying firm, marking its first proposed transaction on the U.S. West Coast. This strategic move is intended to strengthen its presence in California’s agricultural market, leveraging its drone services for precision agriculture. Furthermore, ZenaTech has submitted a Green UAS application for its IQ Nano drone, which could lead to its inclusion on the pre-approved procurement list for U.S. Defense and government buyers. The company also completed the acquisition of Empire Land Surveying in Florida, expanding its presence in the region. In North Carolina, ZenaTech signed an offer to acquire another land surveying company, furthering its strategy to build a national Drone as a Service business.
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