ZenaTech Reports 15% Revenue Growth and Strategic Expansion in Q3 2024

ZenaTech, Inc. reported a 15% revenue increase for the nine months ended September 30, 2024, compared to the same period in 2023, marking its first quarter as a Nasdaq-listed company. The company's subsidiary, ZenaDrone, received U.S. FAA approval for visual line-of-sight commercial use of its ZenaDrone 1000 product, enabling testing and evaluation in land surveying, inspection, monitoring, and tracking applications. Live drone testing has commenced in the Arizona desert, with the company expanding its Phoenix offices and local operations.

During the quarter, ZenaTech launched the IQ Nano, a small 10x10 inch autonomous AI drone designed for indoor use in warehousing and logistics facilities. This product aims to reduce costs and improve productivity through indoor inspection, monitoring, and inventory management. A multinational auto parts manufacturer has initiated the first paying customer trial for the IQ Nano solution, using the drone to read bar codes and collect inventory information for integration into internal ERP software platforms.

ZenaTech announced the acquisition of four software companies from associated companies, subject to shareholder and regulatory approval. These acquisitions include Jadian, which provides compliance, permit, and inspection software; DeskFlex, an AI room booking and office space optimization software company; Interactive Systems, a warehouse management software platform; and InterlinkONE, a warehouse management solution for multiple warehouses and software integrations. These additions are expected to enhance recurring revenue and functionality for ZenaTech's drone solutions.

The company also acquired a United States Design Patent for a drone design from an associated company, pertaining to the second-generation ZenaDrone 1000 product, which improves flight times and increases payload capacity. ZenaTech's CEO and CTO participated in a Trade Mission to Taiwan, announcing the establishment of a sensors and component manufacturing facility and the first Asian office in Taipei. The new company, Spider Vision Sensors Ltd., will ensure compliance with the U.S. National Defense Authorization Act (NDAA), enabling approved supplier status for sales to the U.S. Military.

To increase liquidity and build an investor base in Europe, ZenaTech's common shares were cross-listed on the Frankfurt Stock Exchange (FSE) under the symbol "49Q." The company's growth strategy focuses on product innovation, regulatory compliance, and strategic acquisitions, positioning it for expanded market reach and operational efficiencies. For more information, refer to the Company's Form 6-K filed on November 14, 2024, accessible on the SEC website.