ZenaTech Inc. (NASDAQ: ZENA) reported full-year 2025 revenue of $12.9 million, representing a 558% increase from $2.0 million in 2024, according to a shareholder letter from CEO Shaun Passley.

The Vancouver-based technology company, which specializes in AI drone solutions and enterprise software, completed 20 acquisitions during 2025. Total assets grew 188% to $99.8 million, while cash and reserves increased 301% to $15.1 million. The company reported a net loss of $45.2 million for the year.

The newly launched Drone as a Service segment contributed $10.1 million in revenue, representing 78% of total consolidated revenue in its first full year of operations. The segment operates through 19 acquired land survey, mapping, inspection and cleaning companies across the United States, United Kingdom and Canada. ZenaTech has since expanded to 24 DaaS locations globally.

The Enterprise SaaS Software segment generated $2.8 million in revenue, a 43% increase over 2024. This segment includes workplace scheduling, medical records, law enforcement data management and warehouse management solutions across 12 software brands.

ZenaTech established manufacturing facilities in Ukraine, Taiwan, the UAE and Mesa, Arizona during 2025. The company is developing counter-drone systems including the ZenaDrone 2000 and Interceptor P-1, with the latter planned to be priced under $5,000. Three of the company's drone models are in the Green UAS certification process, a precursor to Blue UAS certification required for U.S. Defense procurement contracts.

The company added quantum navigation software enabling drone operations in GPS-denied environments and introduced the IQ Quad drone specifically designed for land surveys. Working capital increased 439% to $18.3 million, while property, plant and equipment grew from approximately $417,000 to $11.7 million.

ZenaTech operates across North America, Europe, the Middle East and Asia, providing drone solutions for agriculture, logistics, surveillance and defense applications.