The massive revenue growth validates the DaaS acquisition strategy, but the widening net loss and material weakness warrant caution. Watch for defense contract wins (AUVSI Xponential May 11-14) and margin improvement as drone conversions mature. The stock may react positively to revenue growth but remain volatile due to cash burn.
Price Chart
Executive Summary
ZenaTech reported FY2025 revenue of $12.9M (up 558% YoY) driven by its Drone-as-a-Service segment, but net loss widened to $45.2M due to non-cash derivative charges and scaling costs. The company also announced multiple acquisitions, Ukraine manufacturing expansion, and defense trade show engagements, highlighting growth momentum but also significant cash burn and a material internal control weakness.
Key Facts
- FY2025 revenue: $12.9M, +558% YoY from ~$2.0M
- Net loss: $45.2M vs $4.5M in FY2024, includes $18.1M non-cash derivative charges
- DaaS segment contributed $10.1M (78% of total revenue) in first full year
- Total assets grew 188% to $99.8M; cash & reserves $15.1M
- Material weakness in internal controls disclosed (from prior 20-F)
- Completed 20 acquisitions in FY2025, 21st acquisition in April 2026
- Registered Phoenix Aero LLC in Ukraine for counter-UAS manufacturing
- Q4 2025 revenue $5.2M, +670% YoY
Financial Impact
Revenue surged 558% to $12.9M, but net loss ballooned to $45.2M, largely from non-cash items; working capital positive at $18.3M
Risk Factors
- Continued net losses and cash burn may require additional financing
- Material weakness in internal controls could delay SEC filings or raise governance concerns
- Ukraine manufacturing expansion faces geopolitical and execution risks
- Integration of 20+ acquisitions may strain operations and margins
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 14 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001376474-26-000331 |
| Document: zt_ex99z9.htm | 0001376474-26-000331 |
| Document: zt_ex99z2.htm | 0001376474-26-000331 |
| Document: zt_ex99z5.htm | 0001376474-26-000331 |
| Document: zt_ex99z6.htm | 0001376474-26-000331 |
| Document: zt_ex99z3.htm | 0001376474-26-000331 |
| Document: zt_ex99z1.htm | 0001376474-26-000331 |
| Document: zt_ex99z4.htm | 0001376474-26-000331 |
| Document: zt_ex99z7.htm | 0001376474-26-000331 |
| Document: zt_6k.htm | 0001376474-26-000331 |
| Document: zt_ex99z8.htm | 0001376474-26-000331 |
| Document: 0001376474-26-000331-index-headers.html | 0001376474-26-000331 |
| Document: 0001376474-26-000331-index.html | 0001376474-26-000331 |
| Document: 0001376474-26-000331.txt | 0001376474-26-000331 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 14, 2026 13d ago | 6-K | $1.12 | awaiting T+20 | — | $0.9200 (−17.86%) |
Oct 8, 2026 18d ago | 424B5 | $1.11 | awaiting T+20 | — | $0.9200 (+17.12%) |
Oct 8, 2026 19d ago | 6-K | $1.32 | awaiting T+20 | — | $0.9200 (−30.30%) |
Oct 6, 2026 20d ago | 6-K | $1.35 | awaiting T+20 | — | $0.9200 (−31.85%) |
Oct 2, 2026 25d ago | 6-K | $1.28 | awaiting T+20 | — | $0.9200 (−28.12%) |
Sep 29, 2026 28d ago | Press Release | $1.47 $0.9200 | ▲ +37.41% | ▲ +38.13% | $0.9200 (+37.41%) |
Sep 15, 2026 6w ago | Press Release | $1.41 $1.07 | ▼ −24.11% | ▼ −27.09% | $0.9200 (−34.75%) |
Jul 20, 2026 14w ago | 6-K | $1.51 $2.04 | ▲ +35.10% | ▲ +32.54% | $0.9200 (−39.07%) |
Jul 16, 2026 14w ago | Press Release | $1.53 $2.13 | ▲ +39.22% | ▲ +35.60% | $0.9200 (−39.87%) |
Jun 30, 2026 17w ago | Press Release | $1.50 $1.37 | ▼ −8.67% | ▼ −7.64% | $0.9200 (−38.67%) |
US Market Status
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