Miami, FL–(Emerging Growth NewsWire – November 12, 2024) – EmergingGrowth.com, a leading independent small cap media portal with an extensive history of providing unparalleled content for the Emerging Growth markets and companies, reports on ZenaTech, Inc. (NASDAQ: ZENA).
ZenaTech, Inc. (NASDAQ: ZENA), just announced that Revenue increased by $166,886, representing a 15% increase for the nine months ended September 30, 2024, as compared to the same period of 2023. Other highlights from the quarter, the company’s first as a Nasdaq listed company included:
- ZenaTech’s subsidiary ZenaDrone received U.S. FAA (Federal Aviation Administration) approval for visual line-of-sight commercial use including testing and evaluation for its ZenaDrone 1000 product for use in land surveying, inspection, monitoring and tracking applications according to FAA specifications. Live drone testing commenced in the Arizona desert and the company is currently expanding its Phoenix offices and local operations in the state.
- The IQ Nano product, a small 10×10 inch autonomous AI drone was launched; it is designed for indoor use by customers including warehousing and logistics facilities to save costs and improve productivity while performing indoor inspection, monitoring applications and inventory management.
- The company announced that a multinational auto parts manufacturer is the first paying customer trial that is currently underway for the IQ Nano solution for autonomous inventory management in one of their US warehouses. The drone reads bar codes collecting inventory information for input into their internal ERP software platforms.
- ZenaTech announced the acquisition of a total of four software companies from two of its associated companies during the third quarter (subject to shareholder and regulatory approval), adding recurring revenue and important functionality to be integrated into its drone solutions. These include: Jadian, a company providing compliance, permit and inspection software for government, health, and retail businesses; DeskFlex, an AI room booking and office space optimization software company; Interactive Systems, a warehouse management software platform including inventory management, e-commerce, order processing, and handheld devices and other interface connections company; and InterlinkONE, a warehouse management solution for maintaining multiple warehouses, software platforms, and software integrations company.
- The company acquired a United States Design Patent for a drone design from an associated company (subject to shareholder and regulatory approval) pertaining to the second-generation drone design used for the ZenaDrone 1000 product, improving flight times, and increasing the payload capacity.
- ZenaTech’s CEO and CTO participated in a Trade Mission to Taiwan and announced that the company is establishing a sensors and component manufacturing facility, and the first Asian office in Taipei, Taiwan to supply components that will be used in ZenaDrone products. The new company, Spider Vision Sensors Ltd., will ensure ZenaDrone’s products are compliant with the U.S. National Defense Authorization Act (NDAA) to enable receiving approved supplier status to sell to the U.S. Military.
- The company’s common shares were cross listed for trading on the Frankfurt Stock Exchange (FSE) under the symbol “49Q” to increase liquidity and build an investor base in Europe, along with its customer base and current operations and offices in Europe.
ZenaTech, Inc. (NASDAQ: ZENA), also recently announced that it has entered into an agreement to acquire Ecker Capital LLC, the holding company for warehouse management software companies InterlinkONE Inc. and Interactive Systems Inc., from ZenaTech’s affiliated company Ameritek Ventures Inc. (OTC: ATVK).
This transaction further expands ZenaTech’s portfolio of SaaS software solutions and customer base and is expected to add to recurring revenues. Combined operating income for the acquired companies were $354K on revenue of $678K for the first nine months of 2024, and $386K on revenue of $949K for FY 2023.
The acquisition of these two software companies will provide important functionality for integration with its ZenaDrone IQ Nano AI drone solution, enabling autonomous inventory management for warehouse and logistics customers. The acquisition is subject to any shareholder and regulatory approvals that may be required.
ZenaTech, Inc. (NASDAQ: ZENA), went public with its shares being approved for trading on the NASDAQ on October 1, 2024. Since then, there has been a slew of accomplishments from this AI drone Solutions company.
The company may have an opportunity to rival others like Amazon.com, (NASDAQ: AMZN) Boeing Co., (NYSE: BA) Joby Aviation, Inc., (NYSE: JOBY) Northrop Grumman Corp., (NYSE: NOC) AeroVironment, Inc., (NASDAQ: AVAV) Kratos Defense & Security Solutions, Inc., (NASDAQ: KTOS) and EHang Holdings, Ltd., (NASDAQ: EH).
The first thing a drone company needs, is to be able to fly legally to evaluate, test and demonstrate its product and solutions. On August 2nd, ZenaTech announced that its subsidiary company, ZenaDrone, has been granted an exemption by the Federal Aviation Authority (FAA) for visual line-of-sight commercial applications and data collection in the United States. Because of this, just six days later, ZenaTech, Inc. (NASADAQ: ZENA) announced that its subsidiary, ZenaDrone, has commenced aerial operations to launch commercial drone services in the US and that it will be setting up Drone-as-a-Service (DaaS) operations, initially through its Phoenix, Arizona office, making its drone hardware and software solutions available to customers for use in land surveying, inspection, monitoring, tracking, and other applications using the ZenaDrone 1000 product.
Just fifteen days after the exemption granted by the FAA, ZenaTech announced that its subsidiary, ZenaDrone, has begun the first US flight testing of the ZenaDrone 1000 drone including new hardware and software configurations in the desert near Phoenix, Arizona.
While the company is completing the FAA application process to receive an aerial spraying license (14 CFR Part 137) for agricultural plant nourishment, soil treatment, and pest control, the ZenaDrone IQ Nano was borne.
ZenaDrone, began the first US trial of the IQ Nano product solution for inventory management on October 15th, beginning with a multinational auto part and components customer. The drone will be reading the bar codes and collecting inventory information as part of a paid trial. The IQ Nano indoor drone is designed for customers with warehouse, logistics and distribution operations to help them save costs and improve productivity by managing various tasks such as taking inventory, turning a weeklong activity into one day.
The ZenaDrone IQ Nano is a 10×10-inch drone designed to perform regular and frequent inspections such as bar code or RFID scanning, facility maintenance inspections, security monitoring, 3D indoor mapping and other applications inside a warehouse or plant facility. The IQ Nano is designed for autonomous use featuring integrated sensors, high-quality cameras, and data collection and analysis. Weighing 1.5kg and with a flight time of up to 20 minutes before utilizing the automatic battery charging station, it is designed for hovering stability and for safety with obstacle avoidance capabilities.
ZenaDrone IQ Nano Features:
Charging pad: Convenient charging solution without cords or cables, making it easier to maintain multiple drones.
Tethered cable: Offers stable power and data connection for longer flight times or hovering in one place for longer periods, for real-time data transmission during indoor inspections.
Safe for indoor use: Equipped with obstacle avoidance and suitable for confined spaces where traditional drones may pose a risk.
Intelligent Battery: IQ Nano is designed to have a flight time up to 20 minutes and features an intelligent flight battery which enhances its time in the air.
Reliable Video: The enhanced video transmission and sensing systems make it highly reliable in gathering visual data in the air.
Retractable landing gear: Enables a compact and streamlined design, improving maneuverability in limited space areas.
Durability: Carbon-fiber shell that can withstand impact without severe damage, and propeller guards provide protection to its rotors to ensure uninterrupted flight.
Portability: Designed to fit in a case for quick deployment from site to site for ease of carrying and designed to be unobtrusive and stackable for storage.
User Friendly Controls: Designed so controls work alongside onboard sensing system and video transmission to provide smooth and intuitive operability even for new pilots
ZenaTech, Inc. (NASDAQ: ZENA) is acquisition minded. On October 23rd, the Company announced that, subject to shareholder and regulatory approvals that may be required, it has entered into an agreement to acquire ZooOffice Inc., the holding company for software companies Jadian and DeskFlex, from ZenaTech’s former parent company. The acquisition of these two software companies will provide important compliance and inspection software as well as scheduling and mapping software that will be incorporated into ZenaTech’s ZenaDrone AI drone solutions and further expands ZenaTech’s portfolio of SaaS software solutions and customer base and is expected to add to recurring revenue in the government sector among others.
Adding Jadian and DeskFlex software capabilities to the ZenaTech portfolio is part of the strategy to offer full stack, integrated AI drone solutions targeted to multiple sectors such as Agriculture. Jadian’s compliance software will be integrated with ZenaDrone drone hardware and sensors to help farmers track and manage regulatory and environmental requirements such as crop traceability, fertilizer and pesticide use, water conservation, and greenhouse gas emissions.
A day later, ZenaTech, Inc. (NASDAQ: ZENA) announced that its subsidiary, ZenaDrone, is acquiring a United States Design Patent for a drone design pertaining to the second-generation drone design used in its ZenaDrone 1000 product. Contained in the patent are designs for rotating arms enabling the rotors to operate at different angles, using the wind for gliding and power preservation for longer flight times. The patent also includes designs for a larger, yet sleeker and more aerodynamic body of the drone, which allows payloads to increase from 20 lbs. to 80 lbs. The design also enables the drone to be better utilized for carrying cargo, spraying, seeding, and adding other hardware attachments for specific uses.
ZenaTech on October 29th, 2024 announced that it will establish a new company in Taiwan to manufacture drone sensors and components for use in the drone products produced by its subsidiary ZenaDrone. The new company, named Spider Vision Sensors Ltd., will ensure ZenaDrone’s products are compliant with the US National Defense Authorization Act (NDAA), an important requirement for the company to win more business with the US Military.
Spider Vision Sensors Ltd. will manufacture drone sensors, electronics, and components such LiDAR (Light Detection and Ranging), thermal, infrared, multi-spectral and hyper sensors, cameras, and PBCs (Printed Circuit Boards). Having in-house manufactured sensors and components will enable ZenaDrone to have a steady supply to fulfill customer orders and drone production needs at its Sharjah, UAE, and future Arizona-based drone manufacturing facilities.
In addition to the launch of the IQ Nano product, It’s ZenaTech’s military aspect that could set them apart.
The US Navy and the Airforce are using ZenaTech’s drones is for transporting critical medical supplies like blood in field operations.
Since the opening of its drone production facility in Dubai, UAE and the debut of the ZenaDrone 1000 at the UMEX Abu Dhabi Trade show, the company has secured US military pilot contracts with the Airforce and Navy.
Secured Military contracts:
The military relies on drones for surveillance, reconnaissance, and intelligence gathering, and the ZenaDrone 1000 offers valuable features for these missions. With an impressive 1-hour flight time, the drone can cover long distances and operate for extended periods, facilitating continuous surveillance and gathering critical intelligence. Its automatic recharging capability ensures minimal downtime, allowing for a swift response to emerging situations and prolonged operational efficiency. The combination of these attributes makes the ZenaDrone 1000 an invaluable asset, enhancing situational awareness and the overall effectiveness of military operations.
Situational Awareness:
The ZenaDrone 1000 revolutionizes military situational assessment with advanced sensors, real-time data streaming, and autonomous reconnaissance. It offers precise enemy positioning, weather forecasting, and terrain analysis, empowering well-informed tactical decisions, and safer mission strategies. As a force multiplier, it optimizes resource allocation, enhances coordination, and mitigates risks, ultimately amplifying the military’s operational effectiveness and success rates.
Post-War Damage Assessment:
The ZenaDrone offers significant advantages for post-war damage assessments in the military. Its rapid and safe aerial reconnaissance capabilities enable real-time visual evaluations of war-damaged zones. Equipped with high-resolution imaging and remote sensing technologies, the drone captures detailed data, aiding in accurate identification of destruction extent and potential hazards. By eliminating the need for personnel deployment in hazardous areas, the ZenaDrone ensures safety and efficiency while covering vast territories. Its data analytics and comparative analysis capabilities further contribute to informed decision-making, facilitating effective recovery and reconstruction strategies.
Many companies have entered the space such as:
Dragonfly, Inc. (NASDAQ: DPRO)
Safe Pro Group, Inc. (NASDAQ: SPAI)
Red Cat Holdings, Inc. (NASDAQ: RCAT)
Maris-Tech, Ltd. (NASDAQ: MTEK)
AgEagle Aerial Systems, Inc. (NYSE: UAVS)
While even further expanding facilities for the third time in 3 years, 2024 marked the commencement of commercial production of drone products, listing on the NASDAQ Capital Markets, and the set-up of a Turkey facility for more advanced drone testing.
The Commercial Drone market has seen a rise in global adaption due to advancements in technology. By application, the commercial drone market is segmented into agriculture & environment, media & entertainment government, and others.
Commercial Drone market expected to grow at 23.7 CAGR (Compound Annual Growth Rate) through 2030
The Company’s ZenaDrone solutions boasts unique features and functions integrated with intelligent algorithms that can retain and recognize information input to satisfy the demand for technological innovation in various industries, including but not limited to the following:
- Agriculture and Farm Plantation
- Environmental Monitoring and Conservation
- Weather Prediction
- Property Management
- Search and Rescue Missions
- Emergency Services
- Livestock Management
- Military Industry
- Security and Surveillance
- Crop Insurance
- Architecture and Construction
- Film and Media Production
- Warehousing and Inventory
- Cargo and Logistics
- Power Lines and Grids
- Renewable Energy
- Oil and Gas Industry
- City Planning
- Industrial Zoning
- Mining Industry
In an industry that never stands still, the Global Military Drones Market is projected to reach an impressive US $53.7 Billion by 2030, up from US $22.3 Billion in 2022. Full report here.
The Military Drone Market Size is expected to reach a value of USD 17.0 Billion by 2027, a rise from 12.0 billion in 2022. Full report here:
We currently have invitations out for many companies to present on our conference including:
About ZenaTech
ZenaTech (Nasdaq: ZENA) (FSE: 49Q) is a technology company specializing in AI drone solutions and enterprise SaaS solutions for mission-critical business applications. Since 2017, the company has leveraged its software development expertise and grown its drone design and manufacturing capabilities through ZenaDrone, to innovate and improve customer inspection, monitoring, safety, security, compliance, and field service processes. With over 100 enterprise software customers using branded solutions in law enforcement, government, and industrial sectors, and drones being implemented in these plus agriculture, defense, and logistics sectors, ZenaTech’s portfolio of solutions help drive exceptional operational efficiencies and cost savings. The company operates through six offices in North America, Europe, and UAE, and a growing global partner network.
About ZenaDrone
ZenaDrone, a wholly owned subsidiary of ZenaTech, develops and manufactures autonomous business drone solutions that can incorporate machine learning software, AI, predictive modeling, and other software and hardware innovations. Created to revolutionize the hemp farming sector, its specialization has evolved to multifunctional drone solutions for industrial surveillance, monitoring, inspection, tracking, and process automation applications. Currently the ZenaDrone 1000 drone is used for crop management applications in agriculture and for critical field cargo applications in the defense sector, and the IQ Nano indoor drone is used for inventory management in the warehouse and logistics sector.
The ZenaDrone 1000 is an autonomous drone, in a quadcopter design with eight rotors, is roughly the size of a boardroom table, is designed for stable flight, maneuverability, heavy lift capabilities, incorporating innovative software technology, AI, sensors, and purpose-built attachments, along with compact and rugged hardware engineered for industrial use. It has been used in the agriculture sector enabling smart farming, plant tracking, and crop management. ZenaDrone’s products have also been piloted in the field with the US military for delivery of temperature-controlled critical medical supplies.
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Safe Harbor
This press release and related comments by management of ZenaTech, Inc. include “forward-looking statements” within the meaning of U.S. federal securities laws and applicable Canadian securities laws. These forward-looking statements are subject to the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. This forward-looking information relates to future events or future performance of ZenaTech and reflects management’s expectations and projections regarding ZenaTech’s growth, results of operations, performance, and business prospects and opportunities. Such forward-looking statements reflect management’s current beliefs and are based on information currently available to management. In some cases, forward-looking information can be identified by terminology such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “aim”, “seek”, “is/are likely to”, “believe”, “estimate”, “predict”, “potential”, “continue” or the negative of these terms or other comparable terminology intended to identify forward-looking statements. Forward-looking information in this document includes, but is not limited to ZenaTech’s expectations regarding its revenue, expenses, production, operations, costs, cash flows, and future growth; expectations with respect to future production costs and capacity; ZenaTech’s ability to deliver products to the market as currently contemplated, including its drone products including ZenaDrone 1000 and IQ Nano; ZenaTech’s anticipated cash needs and it’s needs for additional financing; ZenaTech’s intention to grow the business and its operations and execution risk; expectations with respect to future operations and costs; the volatility of stock prices and market conditions in the industries in which ZenaTech operates; political, economic, environmental, tax, security, and other risks associated with operating in emerging markets; regulatory risks; unfavorable publicity or consumer perception; difficulty in forecasting industry trends; the ability to hire key personnel; the competitive conditions of the industry and the competitive and business strategies of ZenaTech; ZenaTech’s expected business objectives for the next twelve months; ZenaTech’s ability to obtain additional funds through the sale of equity or debt commitments; investment capital and market share; changes in the target markets; market uncertainty; ability to access additional capital; management of growth (plans and timing for expansion); patent infringement; litigation; applicable laws, regulations, and any amendments affecting the business of ZenaTech.
Forward-looking statements are based on certain assumptions and analyses made by the management of ZenaTech in light of its experience and understanding of historical trends and current conditions and other factors management believes are appropriate to consider, which are subject to risks and uncertainties. Although ZenaTech’s management believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect, and actual results may vary materially from the forward-looking information presented. Given these risks and uncertainties underlying the assumptions made, prospective purchasers of ZenaTech’s securities should not place undue reliance on these forward-looking statements.
Further, any forward-looking statement speaks only as of the date on which such statement is made, and, except as required by applicable law, ZenaTech undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for management to predict all such factors and to assess in advance the impact of each such factor on ZenaTech’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement. Potential investors should read this document with the understanding that ZenaTech’s actual future results may be materially different from what is currently anticipated.
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Links for reference:
https://www.alliedmarketresearch.com/commercial-drone-market
https://www.zenadrone.com/military-industry/
ZenaTech Announces Dual Listing of its Shares on the Frankfurt Stock Exchange – ZenaTech
ZenaTech’s AI Drone Company Acquires Drone Design Patent from Former Parent Company – ZenaTech
ZenaTech Announces Approval to List Common Shares on the Nasdaq Capital Market – ZenaTech
