ZenaTech Reports 15% Revenue Increase and Expands AI Drone Operations
TL;DR
ZenaTech's subsidiary ZenaDrone received U.S. FAA approval for visual line-of-sight commercial use, opening up new opportunities in land surveying, inspection, monitoring and tracking applications.
The IQ Nano autonomous AI drone was launched for indoor use by customers including warehousing and logistics facilities to save costs and improve productivity while performing indoor inspection, monitoring applications and inventory management.
ZenaTech's acquisition of four software companies adds recurring revenue and important functionality to enhance drone solutions, driving exceptional operational efficiencies and cost savings in various sectors.
ZenaTech's CEO and CTO participated in a Trade Mission to Taiwan and announced the establishment of a sensors and component manufacturing facility, opening up new opportunities for global partnerships and innovation.
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ZenaTech, Inc. (Nasdaq: ZENA) (FSE: 49Q), a technology company specializing in AI drone solutions and enterprise SaaS, has reported a 15% revenue increase for the third quarter ended September 30, 2024, compared to the same period in 2023. This growth, amounting to $166,886, marks a significant milestone in the company's first quarter as a Nasdaq-listed entity.
The company's subsidiary, ZenaDrone, received FAA approval for commercial use of its ZenaDrone 1000 product in visual line-of-sight applications, including land surveying and inspection. This regulatory win has enabled ZenaTech to commence live drone testing in Arizona, with plans to expand operations in the state.
In a strategic move to diversify its product line, ZenaTech launched the IQ Nano, a compact autonomous AI drone designed for indoor use in warehousing and logistics facilities. The company has already secured its first paying customer trial with a multinational auto parts manufacturer, utilizing the IQ Nano for autonomous inventory management.
ZenaTech's growth strategy also includes the acquisition of four software companies, pending shareholder and regulatory approval. These acquisitions are expected to add recurring revenue and enhance the functionality of the company's drone solutions, particularly in areas such as compliance, office space optimization, and warehouse management.
The company's expansion efforts extend internationally, with the establishment of a sensors and component manufacturing facility in Taipei, Taiwan. This move aims to ensure compliance with the U.S. National Defense Authorization Act, potentially opening doors for ZenaTech to become an approved supplier for the U.S. Military.
ZenaTech's recent developments signify a major push into the AI drone and enterprise software markets, with potential implications for various industries. The company's focus on autonomous technology and data management solutions could drive efficiency improvements in sectors such as agriculture, logistics, and defense. As ZenaTech continues to integrate its acquisitions and expand its product offerings, it may be positioned to capitalize on the growing demand for AI-powered business solutions and autonomous systems.
Curated from NewMediaWire
