ZenaTech Stock: What the Company Does and What Drives the Shares
ZenaTech is a Canadian drone and software company based in Vancouver. Its zenatech stock trades on the Nasdaq Capital Market under the ticker ZENA, with secondary listings in Frankfurt and Mexico. Most of its revenue now comes from Drone as a Service (DaaS), a network of land-surveying and inspection firms it has bought and equipped with drones.
The company is growing fast through acquisitions. It is also loss-making, and the share count has risen sharply. Every figure below is dated.
The information in this article is provided for educational purposes only and does not constitute financial advice. Consult a financial advisor before making investment decisions.
Table of Contents
Risk warning: The value of shares can fall as well as rise, and you may get back less than you invest. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This article is general information and should not be treated as investment advice.
What is ZenaTech?
ZenaTech, Inc. describes itself as a technology company focused on AI drone platforms for commercial and government markets, including defence. It runs two operating businesses. One is DaaS, the drone services network. The other is a legacy enterprise software (SaaS) division. Dr Shaun Passley chairs the board and serves as CEO, as named in the Q2 2026 results release.
ZenaTech key facts
| Item | Detail |
|---|---|
| Company | ZenaTech, Inc. |
| Base | Vancouver, British Columbia |
| zenatech ticker symbol | ZENA |
| Main exchange | Nasdaq Capital Market |
| Other listings | Frankfurt Stock Exchange (49Q), Mexican Stock Exchange (ZENA) |
| Listing date | 1 October 2024 (direct listing) |
| Segment | Drone services and hardware, plus enterprise software |
| Latest report | Q2 2026, released 29 September 2026 |
| Dividend | None paid |
Source: BNN Bloomberg, TipRanks, Stock Analysis, 11 November 2026.
What ZenaTech does and how it makes money
So, how does zenatech make money? Mostly through surveying. ZenaTech buys established surveying firms and adds its own drones and software to their work. Customers pay for services.
Drone as a Service
DaaS sells drone surveying and inspection. It also offers maintenance and precision agriculture. ZenaTech closed its 29th DaaS acquisition on 15 September 2026, a Georgia firm with solar customers, according to the company announcement. The network now reaches four continents, per the 6 November 2026 release.
Drone hardware and software
The ZenaDrone subsidiary makes the ZenaDrone 1000 and the IQ series of smaller drones. The software division has 13 brands. In Q2 2026 it earned about C$0.70 million, up 6%, per the October 2026 letter to shareholders.
ZenaTech stock: ticker, exchange and how it is traded
The shares trade in US dollars on Nasdaq, 14:30 to 21:00 UK time. They opened at US$10.00 on the first day, as TipRanks reported. The company reports in Canadian dollars.
ZenaTech share price and share data on 10 November 2026
| Item | Value |
|---|---|
| Close, 4:00 pm EST | US$0.70 |
| Intraday low on 6 November 2026 | US$0.58 (record low) |
| All-time high, 26 November 2024 | US$12.43 |
| Market capitalisation | About US$140.9 million |
| Shares outstanding | 201.34 million |
| Change in share count, one year | +121.69% |
| Beta (5 years) | 7.47 |
| Short interest | 6.91% of shares outstanding |
Source: Stock Analysis statistics, Stock Analysis price history, StockScan. Past performance is not a reliable indicator of future results.
Performance since listing
ZENA has traded only since October 2024, so the table shows every period available. Only 2025 covers a full calendar year. The other two listed rows are part-year periods.
| Year | Year-end close (US$) | Change |
|---|---|---|
| 2021 | Not listed | n/a |
| 2022 | Not listed | n/a |
| 2023 | Not listed | n/a |
| 2024 (from 1 October) | 7.58 | About -24% from the US$10.00 opening trade |
| 2025 | 3.20 | -57.8% |
| 2026 (to 10 November) | 0.70 | About -78% |
Source: StockScan price history. Past performance is not a reliable indicator of future results.
What has moved the shares
Some large moves in 2026 came on days with funding news or company updates. Others came on days without a company release.
| Date | Close (US$) | Day change | Event that day or before |
|---|---|---|---|
| 15 May 2026 | 1.52 | About -28% | Registered direct offering of about US$25 million at US$2.12 |
| 9 October 2026 | 1.11 | -15.91% | Volume of 9.98 million shares |
| 26 October 2026 | 0.90 | -11.74% | 2027 breakeven target published |
| 2 November 2026 | 0.73 | -16.22% | Lowest close since listing at the time |
| 10 November 2026 | 0.70 | +5.33% | Second session after the 6 November record low |
Source: Stock Analysis price history, Simply Wall St via Yahoo Finance. Past performance is not a reliable indicator of future results.
Trading involves risk.
Recent results and news
Revenue has grown from one quarter to the next for seven quarters in a row, per the October 2026 letter to shareholders. Losses have grown as well. Our guide to fundamental analysis of stocks explains how such figures can be compared.
Revenue and losses
| Period | Revenue | Net loss | Release date |
|---|---|---|---|
| FY2025 | C$12.9 million (+558%) | C$45.2 million | 29 April 2026 |
| Q2 2026 | C$9.3 million (+316%) | C$22.5 million | 29 September 2026 |
| H1 2026 | C$17.7 million (+425%) | C$49.1 million | 29 September 2026 |
| Q3 2026 (preliminary) | C$13.4 to 14.8 million | Not yet reported | 13 October 2026 |
Source: FY2025 release, Q2 2026 release, Q3 estimate, 26 October 2026 release (H1 net loss). Past performance is not a reliable indicator of future results. The Q3 range is an unaudited estimate. Forecasts are not a reliable indicator of future performance.
The FY2025 loss included C$18.1 million of non-cash charges, per the FY2025 release. At 30 June 2026, cash stood at C$12.2 million, or C$34.6 million with marketable securities, per the Q2 2026 release.
Company news timeline
- On 15 September 2026 ZenaTech closed its 29th DaaS acquisition.
- On 13 October 2026 it reported 27.1% organic growth at firms bought in 2025.
- On 26 October 2026 it set adjusted EBITDA breakeven in 2027 as an internal planning goal.
- On 4 November 2026 it signed nearly US$1 million of utility solar contracts.
- On 6 November 2026 it won school solar contracts worth over US$110,000.
In its 26 October 2026 release, the company describes the 2027 target as "an internal management planning goal" and states that it does not constitute a forecast. Utility follow-on revenue depends on project schedules, as the 4 November release notes. Stock Analysis estimates final Q3 results for 24 November 2026, a date the company has yet to confirm.
Revenue grew more than sixfold in 2025, and the company reported a net loss of C$45.2 million for the year. The share count also more than doubled in the year to November 2026, so each share now represents a smaller stake in the company.
ZenaTech and the drone theme
Drones now make up almost the whole business. In Q3 2024 DaaS revenue was zero.
| Period | DaaS revenue | Share of total revenue |
|---|---|---|
| Q3 2024 | C$0 | 0% |
| Q3 2025 | C$3.57 million | About 82% |
| FY2025 | C$10.1 million | About 78% |
| H1 2026 | C$16.4 million | About 93% |
Source: ZenaTech releases for Q3 2025, FY2025 and Q2 2026. Past performance is not a reliable indicator of future results.
Government and defence customers
Three ZenaDrone models had entered the cybersecurity phase of Blue UAS certification, a process used for US defence procurement, as the company reported on 19 May 2026. The ZenaDrone 1000 has had paid trials with the US Air Force and Navy Reserve. A purchase order has yet to be announced.
For a wider view of the sector, see our overview of drone company stocks.
Main competitors
Many listed drone stocks belong to companies that build drones or drone systems. ZenaTech earns most of its revenue from services. In surveying, it also competes with traditional surveying firms.
| Company | Ticker | Business focus |
|---|---|---|
| AeroVironment | NASDAQ: AVAV | Unmanned aircraft systems for government customers |
| Ondas Holdings | NASDAQ: ONDS | Autonomous drone systems and private networks |
| Red Cat Holdings | NASDAQ: RCAT | Drone maker for government and enterprise buyers |
| Draganfly | NASDAQ: DPRO | Drones and drone services |
Source: Stock Analysis profiles of AVAV, ONDS, RCAT, DPRO.
Trading involves risk.
Risks to keep in mind
The pros and cons below are drawn from the figures in this profile.
| Pros | Cons |
|---|---|
| Revenue rose 425% in H1 2026 | H1 2026 net loss of C$49.1 million |
| 27.1% organic growth at 2025 acquisitions | Growth still depends on buying firms |
| Nearly 93% of H1 2026 revenue came from DaaS | Defence sales are unproven so far |
| Net cash of about US$3.25 million (Stock Analysis, 26 October 2026) | Share count up 121.69% in one year |
Source: Q2 2026 release, 26 October 2026 release, Stock Analysis. Past performance is not a reliable indicator of future results.
- Volatility is extreme, with a five-year beta of 7.47.
- Losses continue, and breakeven is only an internal goal for 2027.
- New share sales have diluted existing holders.
- Integrating 29 acquired firms may prove harder than planned.
- Many contracts are small and depend on customer schedules.
- Changes to drone rules or government approvals could slow sales.
- The share price has stayed below US$1 since late October 2026.
While the company is loss-making, its price-earnings ratio has little meaning, so some market participants look at sales multiples and cash burn instead.
Ways to gain exposure to shares
Admirals offers shares and CFDs on shares, as well as CFDs on Forex, indices and commodities. Available instruments are listed in the platform, and this profile does not imply that ZENA is offered. A demo account uses virtual funds, and results may differ from live trading. See also how to start investing in stock markets.
Frequently Asked Questions
What does ZenaTech do?
ZenaTech runs drone surveying and inspection services through acquired firms. It also makes drones and sells enterprise software.
Where is ZenaTech stock traded?
The main listing is the Nasdaq Capital Market. Secondary listings are on the Frankfurt Stock Exchange and Mexican Stock Exchange.
What is ZenaTech's ticker symbol?
The Nasdaq ticker is ZENA. In Frankfurt the shares trade as 49Q, and in Mexico they trade as ZENA.
Is ZenaTech profitable?
ZenaTech is loss-making. Its H1 2026 net loss was C$49.1 million, and adjusted EBITDA breakeven is an internal 2027 goal.
Does ZenaTech pay dividends?
ZenaTech has paid zero dividends since listing. Its cash goes into acquisitions and drone development, while the business remains loss-making.
When will ZenaTech report Q3 2026 results?
The date is unconfirmed. One data provider estimates 24 November 2026, and the company gave preliminary revenue on 13 October.
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Sources
- ZenaTech Reports 425% First Half and 316% Second-Quarter Revenue Growth, Finviz, accessed 11 November 2026.
- ZenaTech Reports Record 558% Revenue Growth for Full Year 2025, Finviz, accessed 11 November 2026.
- ZenaTech Reports Over 27% Organic Growth and Estimates Q3 2026 Revenue, Finviz, accessed 11 November 2026.
- ZenaTech Letter to Shareholders, Finviz, accessed 11 November 2026.
- ZenaTech Signs Nearly US$1 Million in Solar Survey Contracts for a US Utility, Finviz, accessed 11 November 2026.
- ZenaTech Enters Solar Surveying Market with US School Contract Wins, BNN Bloomberg, accessed 11 November 2026.
- ZenaTech Closes 29th Drone as a Service Acquisition, Generation NT, accessed 11 November 2026.
- ZenaTech Reports Record Revenue Growth in Q3 2025, ZenaTech, accessed 11 November 2026.
- ZenaTech Targets Adjusted EBITDA Breakeven in 2027 (26 October 2026 release), Stocktwits, accessed 11 November 2026.
- ZenaTech Advances Three ZenaDrone Platforms Through Blue UAS Certification Pathway, ZenaTech, accessed 11 November 2026.
- ZenaTech Opens at $10.00 Following Direct Listing on Nasdaq, TipRanks, accessed 11 November 2026.
- A Look at ZenaTech (ZENA) Valuation, Simply Wall St via Yahoo Finance, accessed 11 November 2026.
- ZenaTech (ZENA) Statistics, Stock Analysis, accessed 11 November 2026.
- ZenaTech (ZENA) Stock Price History, Stock Analysis, accessed 11 November 2026.
- Zenatech Inc (ZENA) Stock Price History, StockScan, accessed 11 November 2026.
- AeroVironment Company Profile, Stock Analysis, accessed 11 November 2026.
- Ondas Company Profile, Stock Analysis, accessed 11 November 2026.
- Red Cat Holdings Company Profile, Stock Analysis, accessed 11 November 2026.
- Draganfly Company Profile, Stock Analysis, accessed 11 November 2026.
