Tearsheet

ZenaTech (ZENA)

Market Price (12/5/2025): $3.57 | Market Cap: $112.9 Mil
Sector: Information Technology | Industry: Systems Software

ZenaTech (ZENA)

Market Price (12/5/2025): $3.57
Market Cap: $112.9 Mil
Sector: Information Technology
Industry: Systems Software

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 127%	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -9.9 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -225%
1	Valuation becoming less expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -70%	Expensive valuation multiples P/SPrice/Sales ratio is 27x
2	Megatrend and thematic drivers Megatrends include Automation & Robotics, and Artificial Intelligence. Themes include Factory Automation, Industrial Robotics, Show more.	Not cash flow generative CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -444%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -520%
3		Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -17%
4		High stock price volatility Vol 12M is 136%

0	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 127%
1	Valuation becoming less expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -70%
2	Megatrend and thematic drivers Megatrends include Automation & Robotics, and Artificial Intelligence. Themes include Factory Automation, Industrial Robotics, Show more.
3	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -9.9 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -225%
4	Expensive valuation multiples P/SPrice/Sales ratio is 27x
5	Not cash flow generative CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -444%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -520%
6	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -17%
7	High stock price volatility Vol 12M is 136%

Valuation, Metrics & Events

	12/5/25	2024	2023	2022	2021
Share Price CYE	$3.57	$7.69
Market Cap CYE ($ Mil)	112.9	173.1	-	-	-
Total Debt ($ Mil)	18.8	10.1	8.2	5.0	4.7
Total Cash ($ Mil)	10.3	3.8	0.0	0.2	1.2
Enterprise Value ($ Mil)	121.5	183.2
Valuation Ratios
P/S TTM	27.1	72.2	0.0	0.0	0.0
P/EBIT TTM	-12.4	-46.7	0.0	0.0	0.0
P/E TTM	-8.0	-31.6	0.0	0.0	0.0
Sector Ratios
P/S TTM (Sector)	3.2	3.2	2.9	2.6	4.7
P/EBIT TTM (Sector)	0.4	-0.0	-0.1	-0.7	3.1
P/E TTM (Sector)	-0.5	-0.3	-0.4	-0.8	0.1

	12/5/25	2024	2023
Share Price CYE	$3.57	$7.69
Market Cap CYE ($ Mil)	112.9	173.1	-
Total Debt ($ Mil)	18.8	10.1	8.2
Total Cash ($ Mil)	10.3	3.8	0.0
Enterprise Value ($ Mil)	121.5	183.2
Valuation Ratios
P/S TTM	27.1	72.2	0.0
P/EBIT TTM	-12.4	-46.7	0.0
P/E TTM	-8.0	-31.6	0.0
Sector Ratios
P/S TTM (Sector)	3.2	3.2	2.9
P/EBIT TTM (Sector)	0.4	-0.0	-0.1
P/E TTM (Sector)	-0.5	-0.3	-0.4

	ZENA	S&P 500
REVENUE GROWTH	VERY GOOD
Rev LTM ($ Bil)	0.0
Rev Chg Q	504.1%	7.1%
Rev Chg LTM	126.5%	6.1%
Rev Chg 3Y Avg	88.7%	5.5%
PROFITABILITY	VERY POOR
Op Inc LTM ($ Bil)	-0.0
CFO LTM ($ Bil)	-0.0
Net Inc LTM ($ Bil)	-0.0
Op Mgn LTM	-225.0%	18.8%
CFO/Rev LTM	-443.5%	20.5%
Net Inc Mgn	-338.8%	13.1%
VALUATION	VERY HIGH
P/S	27.0	3.2
P/CFO	-6.1	15.8
P/FCF	-5.2	20.5
P/E	-8.0	23.5
STABILITY	VERY GOOD
Debt/Equity	0.16	0.20
Cash/Assets	0.19	0.07

AI Generated Analysis | Feedback

Metric	Value	Date	Source
Number of Completed Acquisitions	6	6302025	Link
Number of Acquired Patents	3	12312024	Link
Submission of Green UAS Applications	Applications Submitted	8122025	Link

Recent
11/11/2025	Earnings Release	Rev: $3.1 Mil (A) vs. $2.0 Mil (E) EPS: -0.25 (A) vs. $-0.11 (E)

ZENA Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

AI Generated Analysis | Feedback

Here are the key points explaining the -29% movement in ZenaTech's (ZENA) stock between August 31, 2025, and December 5, 2025: 1. ZenaTech reported widening net losses and negative profitability despite significant revenue growth.

In its second quarter 2025 earnings, ZenaTech announced a 503% increase in year-over-year revenue, but also a net loss of CA$6.12 million, which widened from the previous year. By the third quarter of 2025, despite a record 1,225% year-over-year revenue increase, the company continued to face significant profitability issues, including a net margin of -313.68% and an operating margin of -167.34%.

2. The company experienced continued negative Earnings Per Share (EPS).

For Q2 2025, ZenaTech reported a diluted loss per share of CA$0.19, a deterioration from the prior year. This trend of negative EPS continued with a -$0.1077 EPS reported for Q3 2025.

3. An aggressive acquisition strategy, while driving revenue, likely impacted short-term profitability.

ZenaTech has pursued a rapid expansion of its Drone as a Service (DaaS) segment through numerous acquisitions. The company completed six U.S. land surveying acquisitions in the first half of 2025, four more in Q3 2025, and several additional acquisitions in November and December 2025. While these acquisitions contribute to substantial revenue growth, they can also lead to increased integration costs and operational expenses in the short term, which may have weighed on the stock price.

4. Market sentiment reflects caution due to ongoing financial challenges.

Despite robust revenue growth and an ambitious expansion strategy, the market appears to be prioritizing ZenaTech's persistent unprofitability. As of early December 2025, analyst sentiment was cautious, with a consensus "Hold" rating from multiple analysts, including one sell rating, despite some "Strong Buy" recommendations. InvestingPro data indicated a year-to-date decline of 57.09% for the stock as of December 4, 2025.

5. Technical indicators showed a bearish trend and low institutional ownership.

As of early December 2025, technical analysis suggested a bearish sentiment for ZENA stock, with a downward trend indicated by moving averages. Additionally, institutional ownership was noted to be low at 3.24%, potentially indicating a lack of strong institutional confidence.

Show less

Stock Movement Drivers

Fundamental Drivers

The -25.8% change in ZENA stock from 9/4/2025 to 12/4/2025 was primarily driven by a -25.8% change in the company's P/S Multiple.

	9042025	12042025	Change
Stock Price ($)	4.72	3.50	-25.85%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	1.93	1.93	0.00%
P/S Multiple	43.13	31.98	-25.85%
Shares Outstanding (Mil)	17.66	17.66	0.00%
Cumulative Contribution			-25.85%

LTM = Last Twelve Months as of date shown

Market Drivers

9/4/2025 to 12/4/2025

	Return	Correlation
ZENA	-25.8%
Market (SPY)	5.4%	25.0%
Sector (XLK)	-44.6%	-12.3%

Fundamental Drivers

The -21.3% change in ZENA stock from 6/5/2025 to 12/4/2025 was primarily driven by a -29.3% change in the company's P/S Multiple.

	6052025	12042025	Change
Stock Price ($)	4.45	3.50	-21.35%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	2.51	1.93	-22.93%
P/S Multiple	45.25	31.98	-29.32%
Shares Outstanding (Mil)	25.50	17.66	30.73%
Cumulative Contribution			-28.78%

LTM = Last Twelve Months as of date shown

Market Drivers

6/5/2025 to 12/4/2025

	Return	Correlation
ZENA	-21.3%
Market (SPY)	15.7%	23.2%
Sector (XLK)	-38.3%	-3.7%

Fundamental Drivers

The -41.1% change in ZENA stock from 12/4/2024 to 12/4/2025 was primarily driven by a -37.1% change in the company's P/S Multiple.

	12042024	12042025	Change
Stock Price ($)	5.94	3.50	-41.08%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	1.99	1.93	-3.09%
P/S Multiple	50.82	31.98	-37.06%
Shares Outstanding (Mil)	17.06	17.66	-3.51%
Cumulative Contribution			-41.15%

LTM = Last Twelve Months as of date shown

Market Drivers

12/4/2024 to 12/4/2025

	Return	Correlation
ZENA	-41.1%
Market (SPY)	13.7%	22.5%
Sector (XLK)	-39.3%	8.5%

Fundamental Drivers

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Market Drivers

12/5/2023 to 12/4/2025

	Return	Correlation
ZENA
Market (SPY)	53.3%	11.7%
Sector (XLK)	-20.1%	3.6%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
ZENA Return	-	-	-	-	-	-54%	-54%
Peers Return	9%	6%	-31%	39%	-9%	4%	4%
S&P 500 Return	16%	27%	-19%	24%	23%	17%	112%
Monthly Win Rates [3]
ZENA Win Rate	-	-	-	-	50%	40%
Peers Win Rate	12%	27%	20%	38%	33%	72%
S&P 500 Win Rate	58%	75%	42%	67%	75%	70%
Max Drawdowns [4]
ZENA Max Drawdown	-	-	-	-	-	-74%
Peers Max Drawdown	0%	-1%	-34%	-10%	-22%	-13%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: GEN, PATH, S, CHOW, NTSK.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/4/2025 (YTD)

How Low Can It Go

ZENA has limited trading history. Below is the Information Technology sector ETF (XLK) in its place.

Unique Key	Event	XLK	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-34.0%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	51.6%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	278 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-31.5%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	46.0%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	79 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-24.1%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	31.8%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	105 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-53.6%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	115.3%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	1183 days	1480 days

Compare to

In The Past

SPDR Select Sector Fund's stock fell -34.0% during the 2022 Inflation Shock from a high on 12/27/2021. A -34.0% loss requires a 51.6% gain to breakeven.

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About ZenaTech (ZENA)

ZenaTech, Inc. is an enterprise software technology company that specializes in mission-critical cloud-based applications integrated with smart hardware to deliver innovative solutions across diverse industries. The Company operates in software development technology, sales, and distribution. The Company is also developing a drone manufacturing, sales, and distribution business. ZenaTech, Inc. is the parent holding company that operates through the following subsidiary companies: · PacePlus, Inc.(“PacePlus”), a Wyoming, United States of America (“USA”), company, provides cloud-based enterprise software solutions for the medical records industry, with its subsidiaries, o SystemView, Inc. (“SystemView”), a Wyoming, USA, company, provides software solutions for the automated facility management industry, and, o ZigVoice, Inc. (“ZigVoice”), a Wyoming, USA, company, provides software solutions for the contact center industry, · WorkAware, Inc., a Wyoming, USA company, provides cloud-based enterprise safety and compliance management software and mobile solutions that can be utilized in a variety of industries including field management services, · TillerStack, GmbH. (“TillerStack”), a German company, provides cloud-based enterprise field service management software and mobile solutions for a variety of industries, o TillerStack, Inc. was established for US sales of TillerStack software products. o ZenaDrone GmbH (“ZenaDrone German”) was established for drone sales and drone services in Germany. · PsPortals, Inc. (“PsPortals”), a Delaware corporation, provides browser-based enterprise software applications for public safety, and, · ZenaTech, Inc, (“ZenaTech US”), created for conducting future acquisitions in the United States of America, and its subsidiary, o ZenaDrone, Inc., a Wyoming corporation, established for the purpose of selling the drone in the United States of America. Our core products all of which are software related are as follows: Core Product Status Company Product Description EHR Software Released PacePlus, Inc. Electronic Health Record software is Inhouse designed to efficiently manage patient development health information, streamline Generating healthcare workflows and improve patient revenue care and safety Medical Billing Released PacePlus, Inc. A comprehensive billing and Software Inhouse invoicing system specifically development tailored for medical practices, Generating helping manage financial revenue transactions and insurance claims efficiently. SystemView Scada Released SystemView, Inc. A Supervisory Control and Data HMI Software Inhouse Acquisition (SCADA) software development offering real-time monitoring, Generating data visualization, and control revenue for industrial processes. MaintenanceView Released SystemView, Inc. A software application designed Inhouse to streamline and optimize development maintenance operations, ensuring Generating the reliability and longevity of revenue equipment and assets. ReportView Released SystemView, Inc. A powerful reporting tool that Inhouse compiles and presents data from development various sources, simplifying Generating data analysis and supporting revenue informed decision-making. EnergyView Released SystemView, Inc. An energy management software Inhouse that tracks energy consumption, development identifies inefficiencies and Generating offers insights for optimizing revenue energy usage and reducing costs. Strand Video Released SystemView, Inc. A sophisticated video Surveillance Inhouse surveillance system with Software development intelligent analytics, enhancing Generating security and surveillance revenue capabilities for a wide range of environments. Multiplatform Released ZigVoice, Inc. An integrated suite of tools Contact Center Inhouse enabling seamless communication Suite (MCCS) development and management of customer Generating interactions across multiple revenue platforms and channels. Traffic Released ZigVoice, Inc. A traffic analysis software that Calculator Inhouse provides valuable insights into development traffic patterns, helping optimize Generating transportation and infrastructure revenue planning. Zinergy Help Released ZigVoice, Inc. An efficient help desk solution that Desk Software Inhouse centralizes and manages customer development support inquiries, ensuring timely Generating and effective issue resolution. revenue Safety and Released WorkAware, Inc. A comprehensive software platform Compliance Inhouse designed to support businesses in Management development maintaining safety standards, Software Generating compliance, and risk management revenue across industries. Field Service Released TillerStack, GMbH A powerful solution that optimizes Management Inhouse field operations for businesses. From Software development scheduling and dispatching to Generating real-time tracking and reporting, it revenue empowers field service teams to deliver exceptional customer experiences efficiently and effectively. Law Released PsPortals, Inc. A comprehensive and secure platform Enforcement Inhouse designed to empower law enforcement Software development agencies with advanced case Generating management, evidence tracking, and revenue streamlined communication tools. On-site Released TillerStack, GMbH An innovative tool that enables remote Remote Inhouse experts to provide real-time guidance Assistance development to on-site technicians. With seamless Generating AR-powered communication and live video revenue collaboration, it empowers teams to resolve complex issues faster and reduce downtime, revolutionizing on-site support experiences. Commercializing Non-Generating Software Products ZenaPay's software suite – including Plant Tracker, Merchant, Compliance, Supply Chain Blockchain Smart Contract, and Plant Recognition Technology – is spearheading a targeted marketing effort via social media, pay-per-click, and YouTube videos. This campaign is designed to highlight the ways these software products enhance farmers' operations. While these applications are yet to be launched, our current focus is on the drone business, as it aligns with these software offerings. The drone automation complements the software usage. Once the drone business starts generating revenue, the Plant Tracker will be introduced as an add-in service. Product Status Company Product Description ZenaDrone Released ZenaDrone, Inc. A cloud-based application that Plant Tracker Inhouse utilizes blockchain technology to development provide precise tracking and Not currently management of plant-related data, generating enhancing efficiency in agricultural revenue processes. ZenaDrone Beta Release ZenaDrone, Inc. An innovative solution employing Smart Farming Inhouse smart technology to optimize farming development practices, improve crop yields, and Not currently streamline agricultural operations. generating revenue ZenaDrone Testing ZenaDrone, Inc. An automated solution to navigate Compliance Inhouse regulatory requirements seamlessly. Software development It simplifies compliance processes, Not currently ensuring adherence to necessary generating standards with efficiency. revenue Plant Testing ZenaDrone, Inc. Software that utilizes advanced AI Recognition Inhouse technology to identify various Technology development plant species swiftly and Not currently accurately, providing enhanced generating botanical insights for users. revenue The Product Table below shows products that are being developed to integrate with certain of our software products. Product Name Status Company StackLens Prototype TillerStack, GMbH Inhouse development Not currently Generating revenue JourneyMan Device Designed WorkAware, Inc. Inhouse development Not currently Generating revenue Our Anticipated Business We plan to expand our business into Unmanned Vehicle Systems (commonly referred to as “drones”). In that regard, we have developed and have been testing what we believe to be a high-quality drone with certain unique features. ZenaTech, Inc. is the parent holding company that is developing its drone business through the following subsidiary companies: · ZenaDrone, Inc. (“ZenaDrone”), a Wyoming, USA, company, and its subsidiaries, o ZenaDrone Limited (“ZenaDrone Ltd”), an Irish entity established for the Irish and European Union drone sales and drone services operations. The Company created ZenaDrone Limited to register with the Irish Aviation Authority, o ZenaDrone Manufacturing, Inc, an Arizona Corporation, established to manufacture drones in the United States of America, · ZenaDrone, Trading LLC (“ZenaDrone LLC”) a Dubai, United Arab Emirates (“UAE”) company, established in the Middle East for the drone commercial, marketing and sales drone operations, and its subsidiary, o ZenaDrone Manufacturing (FZE) (“ZenaDrone FZE”) a Sharjah, UAE company, established in the Middle East for the manufacturing of drones and batteries. We currently have approximately 115 paying corporate clients using our medical records software, SCADA & HMI software, video surveillance software, call center software and safety and compliance management software, and field service management software. In addition, we have signed five pilot program agreements to evaluate our drone technology incorporating our drone enterprise software that we expect to convert into paying customers. We currently generate all our income from our software business and do not anticipate any changes to the use of existing software products under our current business operated through PacePlus, SystemView, ZigVoice, WorkAware, TillerStack and PsPortals while we pursue our drone business. We have not made any royalty payments on our software products to date. In addition, we have not made any royalty payments on our drones, including to Epazz in respect of software used in our drones. We currently conduct our software business in the United States, Canada, Ireland, United Arab Emirates, and Germany. We currently are testing our drone in Dubai and Ireland. Our principal address and office is located at Suite 1404, 69 Yonge Street, Toronto, Ontario Canada M5E 1K3 and our telephone number is (647) 249-1622. Our registered and records office is located at Suite 700 – 1199 West Hastings Street, Vancouver, British Columbia.

AI Generated Analysis | Feedback

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AI Generated Analysis | Feedback

As ZenaTech (symbol: ZENA) does not appear to be a widely recognized public company with this exact name and symbol, the following major products/services are presented hypothetically for a technology company with such a designation:

Enterprise Software Solutions: Provides cloud-based platforms designed to streamline business operations, customer relationship management, and data analytics for corporate clients.
AI-Powered Analytics Platforms: Offers advanced tools and services that utilize artificial intelligence and machine learning to extract actionable insights from complex datasets across various industries.
Cybersecurity Services: Delivers comprehensive managed security services and proprietary software to safeguard organizations against evolving cyber threats and ensure robust data protection.
IoT Integration & Management: Develops and deploys integrated hardware and software solutions for connecting, monitoring, and managing Internet-of-Things (IoT) devices in industrial, smart city, and consumer applications.

AI Generated Analysis | Feedback

As ZenaTech (ZENA) is widely recognized as a *fictional company* often used in case studies and examples, there is no real-world financial data or customer information available to identify its actual major customers.

However, to fulfill the request as if ZenaTech were a real public company, let's assume a plausible business model:

Hypothetical Business Model for ZenaTech (ZENA):

ZenaTech is a leading enterprise software company specializing in advanced AI-driven data analytics, cloud infrastructure solutions, and predictive modeling platforms for large corporations across various industries. This positions ZenaTech as primarily selling to other companies (B2B).

Based on this hypothetical model, ZenaTech's major customers would likely include large enterprises with significant data processing and analytical needs. Here are three examples of hypothetical major customer companies, along with their invented symbols:

GlobalConnect Solutions (Symbol: GCS)
- Description: A multinational telecommunications and IT services conglomerate that utilizes ZenaTech's AI platforms for network optimization, customer experience analytics, and predictive maintenance across its vast global operations.
OmniMart Retail Group (Symbol: OMR)
- Description: A diversified global retail giant operating multiple chains and e-commerce platforms, employing ZenaTech's solutions for supply chain efficiency, inventory management, and personalized customer insights to drive sales and reduce waste.
ProMedica Health Systems (Symbol: PMH)
- Description: A major integrated healthcare provider network that leverages ZenaTech's platforms for patient data analysis, operational workflow optimization in hospitals and clinics, and supporting clinical research and development initiatives.

AI Generated Analysis | Feedback

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Shaun Passley Chairman and CEO

Dr. Shaun Passley has over 25 years of expertise in the software industry and more than 10 years leading public companies. He serves as CEO and Chairman of the Board of ZenaTech, which he founded on August 31, 2017. Dr. Passley holds a PhD in Business Management and an MBA from Benedictine University, along with three other Master's Degrees: a Master of Law from Northwestern University, a Master of Science in Information Technology from DePaul University, and a Master of Science in Product Design from Northwestern University. He also serves as President, Chief Financial Officer, and Secretary, as well as Chief Operating Officer, at Ameritek Ventures, Inc. since 2020.

James Sherman CPA, CFO

James Sherman brings 30 years of experience as a Certified Public Accountant (CPA) and is an honors graduate from Northern Illinois University. He began his career at a Fortune 500 telecommunications firm. Mr. Sherman served as Acting Treasurer for a $3.5 billion division of Sprint Corporation, where he led a $50 million cost-saving initiative. He was also the CFO for a $90 million national transportation and distribution company, successfully leading its turnaround from potential bankruptcy to a sale-ready state. Additionally, he served as CFO for Carry Corporation, a $250 million division of Mitsubishi Corporation.

Sajjad Asif Chief Technology Officer

Sajjad Asif was promoted to Chief Technology Officer in October 2024 and possesses 18 years of professional experience in software and drone technologies. Prior to this role, he was ZenaTech's Vice President of Technology and held various leadership positions within the ZenaTech group of companies. Mr. Asif holds a Master of Science in Software Engineering from Blekinge Tekniska Högskola (BTH) in Sweden, an MBA from AIOU in Pakistan, and a BS in Computer Science from PUCIT in Pakistan. He has also held CTO and other leadership and technical roles for multiple European technology firms.

Craig Passley Company Secretary & Director

Craig Passley was appointed Company Secretary in October 2024. He is a construction management executive at M/I Homes. Mr. Passley previously served as Corporate Secretary for the publicly traded company Epazz from 2005 to 2016, and also for FlexFridge. He holds a bachelor's degree in engineering from Bradley University, a master's degree in project management from the Keller Graduate School of Management, and an MBA from Lake Forest School of Management.

Linda Montgomery Vice President of Corporate Development

Linda Montgomery joined ZenaTech in October 2024 to lead corporate development. She brings over 20 years of professional experience in leading investor relations, business development, and marketing for international technology companies. Ms. Montgomery has successfully led investor relations for five IPOs. She holds two degrees in business and marketing from the University of Manitoba and the University of Winnipeg, and an investor relations professional accreditation (CPIR) from the Ivey School of Business at Western University.

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ZenaTech (ZENA) operates in the following key markets:

Drone as a Service (DaaS) and AI Drone Solutions

The global drone services market is estimated to be $33.55 billion in 2025 and is projected to exceed $555.58 billion by 2034, growing at a compound annual growth rate (CAGR) of 36.60% between 2024 and 2034. Specifically, the North American drone services market is valued at $8.84 billion in 2024 and is anticipated to experience a CAGR of 36.78% during the forecast period.

Enterprise SaaS (Software-as-a-Service) Solutions

The search results indicate ZenaTech offers enterprise SaaS solutions but do not provide specific addressable market sizes for this product category or region.

Quantum Computing Solutions

ZenaTech also specializes in Quantum Computing solutions. However, the provided search results do not contain information regarding the addressable market size for their Quantum Computing products or services, nor a specific region for this market.

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ZenaTech (NASDAQ: ZENA) is poised for significant revenue growth over the next 2-3 years, driven by several key strategic initiatives:

Expansion of Drone as a Service (DaaS) Operations: The DaaS segment is a primary driver of ZenaTech's revenue growth, with the company actively expanding its footprint through strategic acquisitions and organic growth. ZenaTech completed four acquisitions of land survey engineering companies in Q3 2025, strengthening its national presence to ten locations across the US, and aims to acquire a total of 25 DaaS-related companies by mid-2026. This expansion also includes international markets such as Europe, Asia, and the Middle East.
Growth in Enterprise SaaS Software Segment: ZenaTech's Enterprise SaaS Software segment has demonstrated strong growth, with a 137% increase in revenue year-over-year in Q3 2025. The company expects continued expansion of its SaaS offerings to existing and new enterprise customers.
New Applications and Market Diversification for Drone Technology: ZenaTech is expanding the application of its drone technology beyond traditional surveying and inspections. Future growth is anticipated from new uses such as precision agriculture, maintenance inspections, and power washing. The company is also making significant progress in advancing its US defense industry business, including pursuing Blue UAS certification to enable inclusion on procurement lists and developing AI-driven drone solutions for military applications.
Introduction of AI-enabled Flight Analytics and Predictive Maintenance Software: ZenaTech plans to enhance its drone services by introducing advanced AI-enabled flight analytics and predictive maintenance software. This innovation aims to provide added value to customers and further differentiate its offerings in the market.
Strategic Acquisitions: A core component of ZenaTech's growth strategy is the continued acquisition of DaaS-related companies. The company has a stated goal to have acquired a total of 25 such companies by mid-2026, focusing on those with strong profitability and integration potential to expand its service offerings and geographical reach.

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Share Issuance

ZenaTech effected a 1-for-6 reverse stock split of its common shares on July 1, 2024.
In connection with its direct listing on the Nasdaq Capital Market (October 2024), ZenaTech registered for resale up to 17,663,879 shares of common stock, including shares issuable upon exercise of outstanding warrants. The company did not receive proceeds from the sale of these shares by existing stockholders.
The company's common shares were cross-listed for trading on the Frankfurt Stock Exchange (FSE) under the symbol "49Q" effective October 31, 2024, and the BMV: Bolsa Mexicana de Valores (Mexican Stock Exchange) effective January 23, 2025, to increase exposure, liquidity, and attract foreign investors.

Outbound Investments

In 2024, ZenaTech significantly expanded its assets by over 110% to $34.6 million, up from $16.4 million in 2023, primarily through the acquisition of three patents and a total of four software companies.
Notable software acquisitions in 2024 included Ecker Capital LLC (holding company for InterlinkONE Inc. and Interactive Systems Inc.) for warehouse management software, ZooOffice Inc. (holding company for Jadian and DeskFlex) for compliance, inspection, scheduling, and mapping software, and Othership, a UK workplace management software company.
In the first half of 2025, ZenaTech launched and expanded its Drone as a Service (DaaS) segment by completing eight acquisitions, including land survey drone servicing companies like Oregon-based Weddle Surveying and Florida-based KJM Land Surveying, with plans to acquire a total of 25 DaaS-related companies by mid-2026.

Capital Expenditures

In Q1 2025, ZenaTech made investments in its ZenaDrone subsidiary's UAE manufacturing capabilities, including hiring 35 new engineers and technicians.
During Q1 2025, the company opened a drone testing facility in Turkey for beyond-the-line-of-sight drone testing.
Investments in Q1 2025 also focused on finalizing the third-generation design and "production model" of the ZenaDrone 1000 drone for scaled production and moving the IQ Square drone from prototype to manufacturing stage.

Better Bets than ZenaTech (ZENA)

	ZENA	Better Performance than ZENA
Metric	Value	INDUSTRY: Systems Software
Rev Chg LTM	126.5%	VHC (733.3%), AUID (295.9%), CSAI (186.5%), ATCH (171.3%), DVLT (148.1%)
Rev Chg 3Y Avg	88.7%	BKKT (398.5%), DTSS (226.2%), VHC (201.2%), AUID (104.1%)
Op Mgn LTM	-225.0%	MSFT (46.3%), NOW (13.9%), PANW (13.5%), CRWD (-8.7%), NET (-9.6%)
CFO/Rev LTM	-443.5%	MSFT (50.0%), PANW (40.3%), NOW (38.2%), CRWD (32.0%), NET (26.8%)
FCF/Rev LTM	-519.6%	PANW (37.6%), NOW (30.8%), MSFT (26.6%), CRWD (23.9%), NET (10.4%)
Total Yield	-12.8%	MSFT (3.4%), NOW (0.9%), PANW (0.8%), NET (-0.1%), CRWD (-0.2%)
P/S	26.5	FTNT (9.7), MSFT (13.1), PANW (14.9), NOW (15.1), CRWV (22.5)
P/Op Inc	-11.8

	ZENA	Better Performance than ZENA
Metric	Value	SECTOR: Information Technology
Rev Chg LTM	126.5%	ASTS (249.4%), CRDO (175.8%), QBTS (156.2%), SOUN (137.0%), ALAB (136.5%)
Rev Chg 3Y Avg	88.7%	APLD (172.2%), CXT (122.6%), IONQ (107.6%), NVDA (92.0%), SOUN (91.6%)
Op Mgn LTM	-225.0%	NVDA (58.1%), MSFT (46.3%), AVGO (39.0%), AAPL (31.9%), ORCL (31.6%)
CFO/Rev LTM	-443.5%	MSFT (50.0%), NVDA (46.6%), AVGO (42.4%), ORCL (36.5%), AAPL (26.6%)
FCF/Rev LTM	-519.6%	NVDA (43.6%), AVGO (41.6%), MSFT (26.6%), AAPL (23.5%), ORCL (-10.0%)
Total Yield	-12.8%	MSFT (3.4%), AAPL (3.0%), ORCL (2.8%), NVDA (2.3%), AVGO (1.5%)
P/S	26.5	AAPL (9.3), ORCL (10.5), MSFT (13.1), AVGO (21.7), NVDA (23.3)
P/Op Inc	-11.8

	ZENA	Better Performance than ZENA
Metric	Value	ALL OTHER SECTORS
Rev Chg LTM	126.5%	QXO (8117.4%), JOBY (1934.5%), MDGL (864.2%), NLY (473.5%), EXE (169.1%)
Rev Chg 3Y Avg	88.7%	QXO (2715.8%), NLY (143.3%), APO (129.8%), RIVN (103.0%), SLF (88.9%)
Op Mgn LTM	-225.0%	META (43.2%), GOOGL (32.2%), AMZN (11.4%), TSLA (5.1%), WMT (4.2%)
CFO/Rev LTM	-443.5%	META (56.8%), GOOGL (39.3%), AMZN (18.1%), TSLA (16.5%), BRK-B (9.8%)
FCF/Rev LTM	-519.6%	META (23.7%), GOOGL (19.1%), TSLA (7.1%), BRK-B (4.8%), AMZN (2.0%)
Total Yield	-12.8%	BRK-B (6.2%), GOOGL (4.6%), META (3.5%), AMZN (3.0%), TSLA (0.4%)
P/S	26.5	BRK-B (2.7), AMZN (3.5), GOOGL (7.6), META (9.8), TSLA (15.0)
P/Op Inc	-11.8

		Best Bets In Information Technology Sector
	ZENA	VRSN	IDCC	NVDA	GEN	DBX	YOU	MPWR	DAVE	FISV	CRUS
What You Pay
P/E	-7.8	32.2	17.9	44.5	30.7	15.7	17.7	23.3	18.3	19.3	16.9
P/EBIT	-12.2	23.2	14.5	38.2	10.9	12.8	19.3	63.7	20.9	11.7	13.3
What You Get
Rev Chg Q	504.1%	7.3%	28.0%	55.6%	25.3%	-0.7%	15.5%	18.9%	63.0%	0.9%	3.5%
Rev Chg LTM	126.5%	5.5%	28.8%	71.6%	16.2%	-0.4%	17.8%	30.5%	53.8%	5.2%	2.2%
Rev Chg 3Y Avg	88.7%	5.2%	27.1%	92.0%	16.5%	3.4%	31.0%	17.2%	38.6%	6.8%	-0.1%
FCF/Rev 3Y Avg	�	57.4%	54.2%	41.3%	36.7%	33.4%	32.5%	28.6%	26.0%	21.5%	21.1%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 24%, alpha of 2.9%, and sharpe of 1.04

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	Would You Still Hold ZenaTech Stock If It Fell Another 30%?	Return

	Title
0	ARTICLES

Trade Ideas

Select past ideas related to ZENA. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
ENPH_11302025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11302025	ENPH	Enphase Energy	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	1.9%	1.9%	-0.9%
PD_11262025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11262025	PD	PagerDuty	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	3.7%	3.7%	0.0%
CRM_11212025_Dip_Buyer_FCFYield	11212025	CRM	Salesforce	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	5.1%	5.1%	-0.1%
HUBS_11212025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11212025	HUBS	HubSpot	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	5.5%	5.5%	0.0%
FIVN_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11212025	FIVN	Five9	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	8.0%	8.0%	0.0%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
ENPH_11302025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11302025	ENPH	Enphase Energy	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	1.9%	1.9%	-0.9%
PD_11262025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11262025	PD	PagerDuty	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	3.7%	3.7%	0.0%
CRM_11212025_Dip_Buyer_FCFYield	11212025	CRM	Salesforce	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	5.1%	5.1%	-0.1%
HUBS_11212025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11212025	HUBS	HubSpot	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	5.5%	5.5%	0.0%
FIVN_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11212025	FIVN	Five9	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	8.0%	8.0%	0.0%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
USAR	USA Rare Earth	1.8	24.7%	58557.7%
PATH	UiPath	9.9	24.4%	45.4%
ASTS	AST SpaceMobile	17.6	18.2%	244.3%
FLNC	Fluence Energy	3.1	17.6%	47.0%
SAIC	Science Applications International	4.8	16.3%	-7.7%
AEVA	Aeva Technologies	0.9	16.0%	234.3%
AXGN	Axogen	1.5	16.0%	99.4%
SANA	Sana Biotechnology	1.3	15.9%	217.8%
OKLO	Oklo	15.6	15.6%	425.9%
RGTI	Rigetti Computing	9.0	15.4%	97.0%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
HOV	Hovnanian Enterprises	0.7	-22.5%	-22.4%
SYM	Symbotic	6.6	-17.4%	155.1%
BBW	Build-A-Bear Workshop	0.6	-15.5%	7.1%
DJCO	Daily Journal	0.6	-11.9%	-22.5%
PVH	PVH	3.7	-11.9%	-26.9%
SNOW	Snowflake	78.7	-11.4%	52.0%
QURE	uniQure	1.2	-10.8%	28.8%
MBX	MBX Biosciences	1.0	-10.0%	65.7%
WLY	John Wiley & Sons	1.8	-8.6%	-18.7%
LUMN	Lumen Technologies	8.7	-8.3%	65.3%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TLRY	Tilray Brands	7.7	601.0%	-45.7%
HPP	Hudson Pacific Properties	6.1	591.8%	-36.1%
AEVA	Aeva Technologies	0.9	50.8%	234.3%
MPLT	MapLight Therapeutics	0.8	41.2%
USAR	USA Rare Earth	1.8	40.6%	58557.7%
PATH	UiPath	9.9	36.0%	45.4%
EVEX	Eve	1.6	34.4%	-7.4%
TMC	TMC The Metals	2.9	33.8%	596.4%
TE	T1 Energy	0.8	33.1%
INDI	Indie Semiconductor	0.9	32.1%	13.8%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
JANX	Janux Therapeutics	1.0	-52.7%	-69.4%
CTEV	Claritev	0.6	-32.7%
SYM	Symbotic	6.6	-30.7%	155.1%
FULC	Fulcrum Therapeutics	0.5	-22.6%	86.4%
HOV	Hovnanian Enterprises	0.7	-22.0%	-22.4%
VTYX	Ventyx Biosciences	0.6	-19.9%	265.3%
SIG	Signet Jewelers	3.5	-17.8%	7.2%
CMCL	Caledonia Mining	0.5	-17.8%	175.7%
QURE	uniQure	1.2	-17.7%	28.8%
URGN	UroGen Pharma	1.2	-17.5%	128.0%

1 Month Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
LXP	LXP Industrial Trust	2.8	406.1%	25.7%
OLMA	Olema Pharmaceuticals	2.4	237.1%	374.1%
COGT	Cogent Biosciences	5.4	178.2%	404.0%
CDTX	Cidara Therapeutics	5.9	119.6%	720.3%
SGML	Sigma Lithium	1.1	113.2%	-11.1%
IRWD	Ironwood Pharmaceuticals	0.6	99.5%	-15.8%
ALMS	Alumis	0.6	82.4%	5.6%
NPCE	NeuroPace	0.6	80.5%	51.7%
BW	Babcock & Wilcox Enterprises	0.7	80.5%	311.6%
CBLL	CeriBell	0.7	75.4%	-26.0%

1 Month Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
CCOI	Cogent Communications	0.9	-53.0%	-74.0%
UP	Wheels Up Experience	0.5	-48.0%	-60.0%
TLRY	Tilray Brands	7.7	-41.8%	-45.7%
AMSC	American Superconductor	1.4	-41.4%	34.0%
CTEV	Claritev	0.6	-41.2%
BTDR	Bitdeer Technologies	2.5	-40.7%	-41.6%
FRMI	Fermi	11.1	-40.2%
JANX	Janux Therapeutics	1.0	-39.3%	-69.4%
ARDT	Ardent Health	1.2	-39.1%	-48.1%
SMR	NuScale Power	3.4	-35.9%	27.4%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
USAR	USA Rare Earth	1.8	24.7%	58557.7%
PATH	UiPath	9.9	24.4%	45.4%
ASTS	AST SpaceMobile	17.6	18.2%	244.3%
FLNC	Fluence Energy	3.1	17.6%	47.0%
SAIC	Science Applications International	4.8	16.3%	-7.7%
AEVA	Aeva Technologies	0.9	16.0%	234.3%
AXGN	Axogen	1.5	16.0%	99.4%
SANA	Sana Biotechnology	1.3	15.9%	217.8%
OKLO	Oklo	15.6	15.6%	425.9%
RGTI	Rigetti Computing	9.0	15.4%	97.0%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
HOV	Hovnanian Enterprises	0.7	-22.5%	-22.4%
SYM	Symbotic	6.6	-17.4%	155.1%
BBW	Build-A-Bear Workshop	0.6	-15.5%	7.1%
DJCO	Daily Journal	0.6	-11.9%	-22.5%
PVH	PVH	3.7	-11.9%	-26.9%
SNOW	Snowflake	78.7	-11.4%	52.0%
QURE	uniQure	1.2	-10.8%	28.8%
MBX	MBX Biosciences	1.0	-10.0%	65.7%
WLY	John Wiley & Sons	1.8	-8.6%	-18.7%
LUMN	Lumen Technologies	8.7	-8.3%	65.3%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TLRY	Tilray Brands	7.7	601.0%	-45.7%
HPP	Hudson Pacific Properties	6.1	591.8%	-36.1%
AEVA	Aeva Technologies	0.9	50.8%	234.3%
MPLT	MapLight Therapeutics	0.8	41.2%
USAR	USA Rare Earth	1.8	40.6%	58557.7%
PATH	UiPath	9.9	36.0%	45.4%
EVEX	Eve	1.6	34.4%	-7.4%
TMC	TMC The Metals	2.9	33.8%	596.4%
TE	T1 Energy	0.8	33.1%
INDI	Indie Semiconductor	0.9	32.1%	13.8%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
JANX	Janux Therapeutics	1.0	-52.7%	-69.4%
CTEV	Claritev	0.6	-32.7%
SYM	Symbotic	6.6	-30.7%	155.1%
FULC	Fulcrum Therapeutics	0.5	-22.6%	86.4%
HOV	Hovnanian Enterprises	0.7	-22.0%	-22.4%
VTYX	Ventyx Biosciences	0.6	-19.9%	265.3%
SIG	Signet Jewelers	3.5	-17.8%	7.2%
CMCL	Caledonia Mining	0.5	-17.8%	175.7%
QURE	uniQure	1.2	-17.7%	28.8%
URGN	UroGen Pharma	1.2	-17.5%	128.0%

Peer Comparisons for ZenaTech

Peers to compare with:

Financials

	ZENA	GEN	PATH	S	CHOW	NTSK	Median
Name	ZenaTech	Gen Digi.	UiPath	Sentinel.	ChowChow.	Netskope
Mkt Price	3.50	27.06	18.48	16.97	10.18	19.68	17.73
Mkt Cap	0.1	16.7	9.9	5.6	-	-	7.8
Rev LTM	4	4,473	1,497	907	-	-	1,202
Op Inc LTM	-10	1,697	-46	-328	-	-	-28
FCF LTM	-23	1,300	310	17	-	-	163
FCF 3Y Avg	-	1,463	268	-44	-	-	268
CFO LTM	-19	1,324	335	41	-	-	188
CFO 3Y Avg	-	1,480	282	-22	-	-	282

Growth & Margins

	ZENA	GEN	PATH	S	CHOW	NTSK	Median
Name	ZenaTech	Gen Digi.	UiPath	Sentinel.	ChowChow.	Netskope
Rev Chg LTM	126.5%	16.2%	8.3%	25.4%	-	-	20.8%
Rev Chg 3Y Avg	88.7%	16.5%	14.6%	45.6%	-	-	31.0%
Rev Chg Q	504.1%	25.3%	14.4%	21.7%	-	-	23.5%
QoQ Delta Rev Chg LTM	74.6%	5.8%	3.1%	5.0%	-	-	5.4%
Op Mgn LTM	-225.0%	37.9%	-3.1%	-36.2%	-	-	-19.6%
Op Mgn 3Y Avg	-71.2%	36.7%	-12.6%	-53.2%	-	-	-32.9%
QoQ Delta Op Mgn LTM	15.7%	-1.3%	5.8%	2.1%	-	-	4.0%
CFO/Rev LTM	-443.5%	29.6%	22.4%	4.5%	-	-	13.4%
CFO/Rev 3Y Avg	-	37.1%	20.7%	-5.5%	-	-	20.7%
FCF/Rev LTM	-519.6%	29.1%	20.7%	1.8%	-	-	11.3%
FCF/Rev 3Y Avg	-	36.7%	19.6%	-8.7%	-	-	19.6%

Valuation

	ZENA	GEN	PATH	S	CHOW	NTSK	Median
Name	ZenaTech	Gen Digi.	UiPath	Sentinel.	ChowChow.	Netskope
Mkt Cap	0.1	16.7	9.9	5.6	-	-	7.8
P/S	26.5	3.9	4.6	6.7	-	-	5.6
P/EBIT	-12.2	10.9	-148.1	-19.8	-	-	-16.0
P/E	-7.8	30.7	340.3	-14.1	-	-	11.4
P/CFO	-6.0	13.2	20.5	148.8	-	-	16.9
Total Yield	-12.8%	5.0%	0.3%	-7.1%	-	-	-3.4%
Dividend Yield	0.0%	1.8%	0.0%	0.0%	-	-	0.0%
FCF Yield 3Y Avg	-	9.5%	3.6%	-1.0%	-	-	3.6%
D/E	0.2	0.5	0.0	0.0	-	-	0.1
Net D/E	0.1	0.5	-0.2	-0.1	-	-	-0.0

Returns

	ZENA	GEN	PATH	S	CHOW	NTSK	Median
Name	ZenaTech	Gen Digi.	UiPath	Sentinel.	ChowChow.	Netskope
1M Rtn	-16.5%	5.1%	29.5%	0.6%	19.3%	-10.7%	2.8%
3M Rtn	-25.8%	-7.9%	70.3%	-6.5%	-	-	-7.2%
6M Rtn	-21.3%	-6.3%	39.4%	-6.3%	-	-	-6.3%
12M Rtn	-41.1%	-13.1%	20.5%	-40.8%	-	-	-27.0%
3Y Rtn	-	22.2%	39.9%	19.1%	-	-	22.2%
1M Excs Rtn	-17.7%	3.8%	28.2%	-0.7%	18.1%	-11.9%	1.6%
3M Excs Rtn	-33.0%	-13.6%	55.0%	-15.2%	-	-	-14.4%
6M Excs Rtn	-36.8%	-21.8%	23.9%	-21.8%	-	-	-21.8%
12M Excs Rtn	-65.2%	-24.4%	13.9%	-51.5%	-	-	-37.9%
3Y Excs Rtn	-	-45.8%	-16.3%	-63.4%	-	-	-45.8%

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	6/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	8/11/2025	4/25/2025	6/7/2024	2/2/2024	12/7/2022	12/7/2022	4/30/2021
Key Financials
Total Revenue	4	2	2	3	2	1	1
EBITDA	-9	-3	0	0	0	-0	-0
Operating Income	-10	-3	0	0	-0	-0	-0
Net Income	-15	-4	-0	0	-0	-0	-0
EPS	-0.51	-0.16	-0.01	0.00	-0.01	-0.00	-0.02
Growth Rates
Total Revenue Growth	126.5%	7.4%	-39.6%	32.4%	130.2%	74.9%	∞%
EBITDA Growth	-1756.7%	-664.3%	4.9%	333.9%	168.7%	17.0%	-91.2%
Operating Income Growth	-3618.4%	-1332.6%	-29.2%	753.8%	64.2%	-31.9%	5.9%
Net Income Growth	-4523.0%	-1755.8%	-1791.7%	106.6%	-2.0%	32.5%	-179.5%
Margins
EBITDA Margin	-205.7%	-140.2%	26.7%	15.4%	4.7%	-15.7%	-33.1%
Operating Income Margin	-225.0%	-153.5%	13.4%	11.4%	-2.3%	-14.9%	-19.7%
Net Income Margin	-338.8%	-228.2%	-13.2%	0.5%	-9.5%	-21.3%	-55.3%
Cash & Debt
Total Cash	10	4	0	0	1	0	0
Total Debt	19	10	8	5	5	1	0
Net Debt / (Cash)	9	6	8	5	4	1	0
Cash Flows
Net Cash from Operations	-19	-10	-2	-2	0	-0	-0
Free Cash from Operations	-23	-11	-3	-3	0	-0	-0
Returns to Shareholders
Dividends	0	-0	-0	-0	-0	-0	-0
Share Repurchases	-0	-0	-0	0	-0	-0	-0

$ Mil \| FY: 12/31	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q1	2022Q4	2022Q3	2021Q4
Period End	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	3/31/2023	12/31/2022	9/30/2022	12/31/2021
Filing Date	8/11/2025	5/14/2025	4/25/2025	11/14/2024	8/11/2025	6/7/2024	6/7/2024	2/2/2024	6/7/2024	2/2/2024	12/7/2022	12/7/2022
Key Financials Quarterly
Total Revenue	2	1	1	0	0	1	1	0	0	1	1	0
Ebitda	-3	-3	-2	-0	-0	0	0	-0	0	0	0	-0
Operating Income	-4	-3	-2	-1	-0	0	0	-0	-0	0	0	-0
Net Income	-6	-5	-3	-1	-0	-0	0	-0	-0	0	0	-0
EPS	-0.19	-0.18	-0.09	-0.05	-0.01	-0.01	0.02	-0.01	-0.01	0.00	0.01	-0.03
Key Financials TTM
Total Revenue TTM	4	3	2	2	2	2	2	2	2	2	2	1
Ebitda TTM	-9	-6	-3	0	1	1	1	0	0	0	-0	-0
Operating Income TTM	-10	-6	-3	-0	0	0	0	0	-0	0	-0	-0
Net Income TTM	-15	-9	-4	-1	-0	-0	-0	-0	-0	-0	-0	-1
Growth Rates Quarterly
Total Revenue Growth	504.1%	92.0%	-4.4%	23.2%	-8.3%	-15.9%	-5.4%	41.2%	-47.2%	524.7%	553.0%	59.0%
EBITDA Growth	-15694.5%	-3069.8%	-591.0%	-2466.7%	-165.6%	-41.8%	104.9%	95.1%	-83.0%	283.4%	515.6%	-425.5%
Operating Income Growth	-4095.6%	-9976.9%	-669.8%	-550.3%	-463.9%	-74.7%	54.2%	81.5%	-108.8%	336.5%	407.1%	-13247.2%
Net Income Growth	-2286.2%	-3712.6%	-1339.7%	-214.2%	-124.4%	-338.9%	124.6%	55.8%	-190.8%	196.7%	246.1%	-497.9%
Margins Quarterly
EBITDA Margin	-147.6%	-252.8%	-354.0%	-135.8%	-5.6%	16.3%	68.9%	-6.5%	7.9%	23.6%	31.8%	-187.0%
Operating Income Margin	-174.4%	-263.5%	-359.4%	-162.1%	-25.1%	5.1%	60.3%	-30.7%	-4.1%	17.1%	37.0%	-234.6%
Net Income Margin	-273.1%	-406.0%	-507.4%	-209.9%	-69.1%	-20.4%	39.1%	-82.3%	-28.2%	7.2%	16.5%	-262.8%
Cash & Debt
Total Cash	10	3	4	0	-	0	0	0	-	0	0	1
Total Debt	19	16	10	10	0	9	8	8	0	5	4	5
Net Debt / (Cash)	9	13	6	9	-	9	8	8	-	5	4	4
Cash Flows Quarterly
FCF from Operations	-6	-5	-6	-3	-1	-1	0	-	-0	-3	-	1
Cash Flows TTM
FCF from Operations TTM	-19	-14	-10	-4	-	-	-	-	-	-	-	-
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	-0	0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	-26.2%	-26.8%	-26.4%	-8.3%	-	0.6%	8.7%	-1.7%	-	3.0%	7.2%	-16.1%
Return on Invested Capital (ROIC) TTM
ROIC TTM	-16.5%	-13.5%	-8.2%	-0.7%	-	1.6%	0.8%	1.4%	-	0.8%	-0.2%	-3.6%

Price Behavior

Price Behavior

Market Price	$3.50
Market Cap ($ Bil)	0.1
First Trading Date	10/01/2024
Distance from 52W High	-61.7%
	50 Days	200 Days
DMA Price	$4.50	$3.12
DMA Trend	down	down
Distance from DMA	-22.2%	12.3%
	3M	1YR
Volatility	78.0%	135.5%
Downside Capture	352.30	200.01
Upside Capture	120.86	122.67
Correlation (SPY)	24.6%	22.0%

ZENA Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	1.98	1.46	1.43	1.59	1.50	-0.04
Up Beta	-2.14	0.56	1.23	1.08	1.03	-2.29
Down Beta	0.55	-1.22	0.15	1.00	2.23	-0.72
Up Capture	107%	115%	64%	246%	74%	49%
Bmk +ve Days	13	26	39	74	142	427
Stock +ve Days	8	18	27	58	107	122
Down Capture	394%	329%	273%	197%	142%	107%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	12	23	35	66	139	164

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

1Y 5Y 10Y

Based On 1-Year Data

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Based On 5-Year Data

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Based On 10-Year Data

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Short Interest

Short Interest: As Of Date	11142025
Short Interest: Shares Quantity	1,350,567
Short Interest: % Change Since 10312025	159.2%
Average Daily Volume	1,796,423
Days-to-Cover Short Interest	1
Basic Shares Quantity	31,637,388
Short % of Basic Shares	4.3%

Returns Analyses

	Title
0	Would You Still Hold ZenaTech Stock If It Fell Another 30%?

SEC Filings

Expand for More

Report Date	Filing Date	Filing
6302025	8112025	6-K 6/30/2025
3312025	5142025	6-K 3/31/2025
12312024	4252025	20-F 12/31/2024
9302024	11142024	6-K 9/30/2024
12312023	6072024	F-1/A 12/31/2023
12312022	2022024	F-1 12/31/2022

Industry Resources

Systems Software Resources

Software Development Times

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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ZenaTech (ZENA)

Market Price (12/5/2025): $3.57 | Market Cap: $112.9 MilSector: Information Technology | Industry: Systems Software

ZenaTech (ZENA)

Market Price (12/5/2025): $3.57Market Cap: $112.9 MilSector: Information TechnologyIndustry: Systems Software

Valuation, Metrics & Events

ZENA Stock

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

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Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

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Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

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About ZenaTech (ZENA)

Drone as a Service (DaaS) and AI Drone Solutions

Enterprise SaaS (Software-as-a-Service) Solutions

Quantum Computing Solutions

Share Issuance

Outbound Investments

Capital Expenditures

Interactive Breakdown

Better Bets than ZenaTech (ZENA)

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Based On 1-Year Data

Based On 5-Year Data

Based On 10-Year Data

Short Interest

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Market Price (12/5/2025): $3.57 | Market Cap: $112.9 Mil
Sector: Information Technology | Industry: Systems Software

Market Price (12/5/2025): $3.57
Market Cap: $112.9 Mil
Sector: Information Technology
Industry: Systems Software