ZenaTech reports 316% revenue jump in Q2, driven by drone services

ZenaTech, Inc. (Nasdaq: ZENA) reported second-quarter revenue of C$9.3 million, a 316% increase year over year, according to a shareholder letter released by the company. All financial figures are in Canadian dollars unless otherwise noted.

Drone as a Service accounted for C$8.6 million, or nearly 93% of total Q2 revenue. First-half revenue reached C$17.7 million, up 425% from the same period a year earlier and approximately 37% above the company's full-year 2025 revenue of C$12.9 million.

The company said it has recorded seven consecutive quarters of sequential revenue growth since Q4 2024, with quarterly revenue rising from approximately C$0.7 million in that period to C$9.3 million in Q2 2026.

ZenaTech completed four acquisitions during Q2, bringing its cumulative Drone as a Service acquisition total to 24 as of June 30. Subsequent deals raised that count to 29, expanding the company's presence into Alberta, Ohio, Idaho, and Georgia. The company now has operations in 14 U.S. states, with additional offices opened in South Korea and the United Kingdom.

The company ended Q2 with C$12.2 million in cash and C$34.6 million in combined cash and marketable securities. Total assets rose 50% to C$149.3 million, and shareholders' equity increased 34% to C$91.4 million.

Enterprise SaaS revenue was C$702,315 in Q2, a roughly 6% increase from the prior-year quarter. The company added NOW Solutions, an HR and payroll software business, during the quarter.

On the defense side, the ZenaDrone 1000, IQ Nano, and IQ Square have entered the cybersecurity phase of the Blue UAS certification process. The company said it received its first confirmed U.S. government defense agency demonstration request. Its Interceptor P-1 counter-drone device, priced at a target of under US$5,000, has entered flight testing.

ZenaTech was added to the Russell 3000 Index in June 2026. Signed acquisition offers across the U.S., Canada, and Australia, if completed, were expected to contribute approximately C$40 million in revenue during the first 12 months following closing, the company stated.

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