ZenaTech, Inc. (NASDAQ: ZENA)

ZenaTech, Inc. is a technology solutions company that specializes in mission‑critical cloud‑based software applications integrated with smart hardware to deliver innovative solutions across diverse industries. The firm develops, sells and supports enterprise software products such as electronic health records, SCADA/HMI, video surveillance, call center and field service management tools while simultaneously building a drone‑centric business that designs, manufactures and operates unmanned aerial vehicles for services like land surveying, inspection and precision agriculture. Its dual‑focus approach combines recurring software revenue with emerging drone‑as‑a‑service income.

ZenaTech generates revenue primarily through two streams: software licensing and subscription services, and drone‑as‑a‑service offerings. For the year ended December 31, 2025, the company reported total revenue of CAD $12,912,722, of which software contributed $2,806,988 and drone services contributed $10,105,734. Software income comes from sales of perpetual licenses, monthly or annual SaaS subscriptions, and related support contracts across its portfolio of products. Drone revenue is derived from providing turnkey aerial services—such as surveying, mapping, inspection and spraying—on a per‑project or subscription basis, as well as from the sale of drone hardware and associated software bundles.

The company operates through the following segments:

• Enterprise Software-as-a-Service (SaaS): This segment develops, markets and distributes cloud‑based software applications including electronic health records, SCADA/HMI, video surveillance, call center, field service management, safety and compliance, and workplace scheduling tools. Revenue is generated via software licenses, SaaS subscriptions, maintenance and support services.

• Drone Development, Manufacturing, Sales, Distribution and Services: This segment designs, builds and sells unmanned aerial vehicles such as the ZenaDrone 1000, IQ Nano, IQ Square and IQ Quad, and provides drone‑as‑a‑service operations including land surveying, infrastructure inspection, precision agriculture and power‑washing. Income arises from hardware sales, service contracts and data‑analytics offerings tied to drone operations.

Within its software niche, ZenaTech competes with established players such as AdvanceMD, DrChrono EHR, NextGen and Kareo in the electronic health records space, and with firms like Alcumus, gocanvas, EHSInsight, SimPRO and ServiceTitan in safety and compliance management. Its drone business faces competition from DJI, DraganFly, RedCat, AgEagle, AeroVironment, Kratos, Unusual Machines and Volatus. The company’s competitive advantage lies in its tight integration of proprietary hardware with custom software, a growing portfolio of patented technologies (including designs for rapid‑charge and autonomous flight), and a service model that removes the need for customers to own, maintain or certify drone equipment.

ZenaTech serves a diverse customer base that includes approximately 5,000 paying corporate clients across its software lines, ranging from hospitals and healthcare providers to manufacturing plants, government agencies and logistics firms. On the drone side, customers consist of farms in Ireland testing irrigation and crop‑management applications, auto manufacturers and parts suppliers using indoor inventory drones, a multinational energy distribution center employing aerial surveillance, public horse racing courses and golf course operators for venue monitoring, and various municipalities and utility firms availing of power‑washing and infrastructure inspection services. The firm also counts a growing number of commercial and government entities that subscribe to its drone‑as‑a‑service platform for tasks such as surveying, mapping and inspection.