ZenaTech reported Q3 2025 revenue of $4.35 million CAD, a 1,225 % year‑over‑year increase from $327,878 in Q3 2024. The jump reflects a six‑fold rise in nine‑month revenue to $7.73 million CAD, up from $1.29 million in the same period last year. The company’s top‑line growth is the strongest in its history, driven largely by the expansion of its Drone as a Service (DaaS) offering.
DaaS revenue surged to $3.57 million in Q3 2025, compared with zero in the prior year, accounting for the bulk of the record growth. The enterprise SaaS division also grew, reporting $776,908 in revenue, a 137 % increase YoY, as subscription demand expanded in Europe and the Middle East. The combination of high‑margin DaaS contracts and a growing SaaS customer base lifted gross margin to 79.71 %.
Despite the revenue boom, ZenaTech remains unprofitable, reporting a GAAP earnings per share of –$0.34 for the quarter. Net margin contracted to –336.92 %, reflecting heavy investment in technology and acquisitions. Working capital rose to $23.6 million, and cash and marketable securities increased to $19.5 million, giving the company a solid liquidity cushion to fund its growth strategy.
The company completed four DaaS acquisitions during the quarter, accelerating the deployment of AI‑driven flight‑control technologies that underpin its service platform. CEO Shaun Passley noted that “as we continue integrating our recent acquisitions and deploying AI‑driven flight control technologies, we expect sustained growth momentum to continue into 2026.” The acquisitions also broadened the geographic reach of the DaaS network, with a new headquarters established in Orlando, Florida.
Passley emphasized confidence in the company’s strategic plan, stating that ZenaTech is “uniquely positioned to capture market share in both commercial and defense sectors” and that it aims to acquire 25 DaaS‑related companies by mid‑2026. The company also announced its pursuit of Green UAS certification to strengthen its defense business prospects. While the earnings release did not provide new revenue guidance, management reiterated its expectation of continued revenue expansion driven by AI integration and market demand.
ZenaTech’s results underscore the rapid adoption of drone‑based solutions across public and private sectors, with demand for land‑surveying, mapping, and infrastructure inspection services rising sharply. The company’s strong gross margin and growing SaaS subscription base suggest a scalable business model, while the significant cash reserves and working capital position it to sustain investment in AI and acquisitions. Investors will likely view the unprofitable EPS as a short‑term cost of scaling, but the company’s trajectory points toward eventual profitability as the DaaS and SaaS segments mature.
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